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Who decides the minimum support price of crops?
- a)Reserve Bank of India
- b)Ministry of finance
- c)Agricultural Costs and Prices Commission
- d)Ministery of Agriculture
- e)None of the updated / more than one above
Correct answer is option 'C'. Can you explain this answer?
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Who decides the minimum support price of crops?a)Reserve Bank of India...
- MSP:- The minimum support price for crops is decided by the Commission for Agricultural Costs & Prices ( CACP )
- It recommends MSPs for 22 mandated crops and fair and remunerative price (FRP) for sugarcane.
- The mandated crops include 14 crops of the kharif season, 6 rabi crops and 2 other commercial crops.
- CACP is an attached office of the Ministry of Agriculture and Farmers Welfare.
- Minimum Support Price It is up to the willingness of the farmer to sell the crop to the government, at MSP, or to the trader at a mutually agreed pricehe
- MSP is the rate at which the government purchases crops from farmers, and is based on a calculation of at least one-and-a-half times the cost of production incurred by the farmers.
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Who decides the minimum support price of crops?a)Reserve Bank of India...
- MSP:- The minimum support price for crops is decided by the Commission for Agricultural Costs & Prices ( CACP )
- It recommends MSPs for 22 mandated crops and fair and remunerative price (FRP) for sugarcane.
- The mandated crops include 14 crops of the kharif season, 6 rabi crops and 2 other commercial crops.
- CACP is an attached office of the Ministry of Agriculture and Farmers Welfare.
- Minimum Support Price It is up to the willingness of the farmer to sell the crop to the government, at MSP, or to the trader at a mutually agreed pricehe
- MSP is the rate at which the government purchases crops from farmers, and is based on a calculation of at least one-and-a-half times the cost of production incurred by the farmers.
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Who decides the minimum support price of crops?a)Reserve Bank of Indiab)Ministry of financec)Agricultural Costs and Prices Commissiond)Ministery of Agriculturee)None of the updated / more than one aboveCorrect answer is option 'C'. Can you explain this answer?
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