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The price that is announced before the sowing season is called:
- a)Issue price
- b)Fair price
- c)Market price
- d)Minimum support price
Correct answer is option 'D'. Can you explain this answer?
Verified Answer
The price that is announced before the sowing season is called:a)Issue...
Minimum Support Price (MSP)
The price that is announced before the sowing season and is guaranteed to the farmers for their crops is called the Minimum Support Price (MSP). It is a government-announced price that ensures a minimum income for farmers and protects them from market fluctuations. Here is a detailed explanation of the concept of MSP:
1. Definition:
- The Minimum Support Price (MSP) is the price at which the government purchases crops from farmers, to protect them from any sharp fall in market prices.
- It acts as a safety net for farmers and guarantees them a minimum income for their produce.
2. Calculation of MSP:
- The government takes into account various factors such as production costs, demand-supply situation, market trends, and the need to protect farmers' interests while determining the MSP for different crops.
- A committee called the Commission for Agricultural Costs and Prices (CACP) is responsible for recommending MSPs for various agricultural commodities.
3. Purpose of MSP:
- To ensure remunerative prices for farmers and protect them from price fluctuations.
- To incentivize farmers to produce crops by providing them with a guaranteed market and income.
- To maintain food security by ensuring an adequate supply of food grains in the country.
4. Significance of MSP:
- It provides a safety net to farmers and helps in reducing their risk in agriculture.
- It encourages farmers to invest in agriculture and adopt modern farming techniques.
- It ensures a stable supply of agricultural commodities in the market.
- It helps in achieving self-sufficiency in food production.
5. Impact of MSP:
- MSP has both positive and negative impacts on the economy.
- Positive impacts include increased agricultural production, rural development, and food security.
- Negative impacts include market distortion, regional imbalances, and the burden on government finances.
In conclusion, the price that is announced before the sowing season and guarantees a minimum income to farmers is known as the Minimum Support Price (MSP). It serves as a safety net for farmers against market fluctuations and encourages agricultural production in the country.
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The price that is announced before the sowing season and is guaranteed to the farmers for their crops is called the Minimum Support Price (MSP). It is a government-announced price that ensures a minimum income for farmers and protects them from market fluctuations. Here is a detailed explanation of the concept of MSP:
1. Definition:
- The Minimum Support Price (MSP) is the price at which the government purchases crops from farmers, to protect them from any sharp fall in market prices.
- It acts as a safety net for farmers and guarantees them a minimum income for their produce.
2. Calculation of MSP:
- The government takes into account various factors such as production costs, demand-supply situation, market trends, and the need to protect farmers' interests while determining the MSP for different crops.
- A committee called the Commission for Agricultural Costs and Prices (CACP) is responsible for recommending MSPs for various agricultural commodities.
3. Purpose of MSP:
- To ensure remunerative prices for farmers and protect them from price fluctuations.
- To incentivize farmers to produce crops by providing them with a guaranteed market and income.
- To maintain food security by ensuring an adequate supply of food grains in the country.
4. Significance of MSP:
- It provides a safety net to farmers and helps in reducing their risk in agriculture.
- It encourages farmers to invest in agriculture and adopt modern farming techniques.
- It ensures a stable supply of agricultural commodities in the market.
- It helps in achieving self-sufficiency in food production.
5. Impact of MSP:
- MSP has both positive and negative impacts on the economy.
- Positive impacts include increased agricultural production, rural development, and food security.
- Negative impacts include market distortion, regional imbalances, and the burden on government finances.
In conclusion, the price that is announced before the sowing season and guarantees a minimum income to farmers is known as the Minimum Support Price (MSP). It serves as a safety net for farmers against market fluctuations and encourages agricultural production in the country.
Most Upvoted Answer
The price that is announced before the sowing season is called:a)Issue...
Minimum support price is the correct answer.
The Minimum Support Price (MSP) is the price set by the government of a country to purchase agricultural produce directly from the farmers. It is an assured price that the government offers to the farmers to protect them from any sharp fall in prices during the sowing season. The MSP is announced before the sowing season begins and acts as a safety net for the farmers, ensuring that they get a fair price for their produce.
The MSP is determined by taking into account various factors such as the cost of production, market demand, and supply. The government aims to provide a minimum guaranteed income to the farmers and promote agricultural growth and stability. It is generally higher than the market price to encourage farmers to produce more and ensure food security in the country.
The MSP helps in achieving several objectives:
1. Ensuring price stability: By announcing the MSP before the sowing season, the government provides a sense of stability to the farmers. They can plan their production and investment accordingly, knowing that they will receive a minimum price for their crops.
2. Protecting farmers from market fluctuations: Farmers often face the risk of price fluctuations due to factors beyond their control, such as weather conditions, pests, and market conditions. The MSP acts as a safety net, protecting them from the impact of these fluctuations and ensuring a minimum income.
3. Encouraging agricultural production: The MSP provides an incentive for farmers to increase their agricultural production. It acts as a motivation for them to invest in better seeds, fertilizers, and technology, leading to increased productivity and agricultural growth.
4. Ensuring food security: The MSP plays a crucial role in ensuring food security in the country. By providing a fair price to the farmers, the government encourages them to produce more food grains, which in turn helps in maintaining adequate food supply for the population.
In conclusion, the Minimum Support Price (MSP) is the price announced before the sowing season to provide a minimum guaranteed income to the farmers, protect them from market fluctuations, encourage agricultural production, and ensure food security.
The Minimum Support Price (MSP) is the price set by the government of a country to purchase agricultural produce directly from the farmers. It is an assured price that the government offers to the farmers to protect them from any sharp fall in prices during the sowing season. The MSP is announced before the sowing season begins and acts as a safety net for the farmers, ensuring that they get a fair price for their produce.
The MSP is determined by taking into account various factors such as the cost of production, market demand, and supply. The government aims to provide a minimum guaranteed income to the farmers and promote agricultural growth and stability. It is generally higher than the market price to encourage farmers to produce more and ensure food security in the country.
The MSP helps in achieving several objectives:
1. Ensuring price stability: By announcing the MSP before the sowing season, the government provides a sense of stability to the farmers. They can plan their production and investment accordingly, knowing that they will receive a minimum price for their crops.
2. Protecting farmers from market fluctuations: Farmers often face the risk of price fluctuations due to factors beyond their control, such as weather conditions, pests, and market conditions. The MSP acts as a safety net, protecting them from the impact of these fluctuations and ensuring a minimum income.
3. Encouraging agricultural production: The MSP provides an incentive for farmers to increase their agricultural production. It acts as a motivation for them to invest in better seeds, fertilizers, and technology, leading to increased productivity and agricultural growth.
4. Ensuring food security: The MSP plays a crucial role in ensuring food security in the country. By providing a fair price to the farmers, the government encourages them to produce more food grains, which in turn helps in maintaining adequate food supply for the population.
In conclusion, the Minimum Support Price (MSP) is the price announced before the sowing season to provide a minimum guaranteed income to the farmers, protect them from market fluctuations, encourage agricultural production, and ensure food security.
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The price that is announced before the sowing season is called:a)Issue priceb)Fair pricec)Market priced)Minimum support priceCorrect answer is option 'D'. Can you explain this answer?
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The price that is announced before the sowing season is called:a)Issue priceb)Fair pricec)Market priced)Minimum support priceCorrect answer is option 'D'. Can you explain this answer? for Class 9 2025 is part of Class 9 preparation. The Question and answers have been prepared according to the Class 9 exam syllabus. Information about The price that is announced before the sowing season is called:a)Issue priceb)Fair pricec)Market priced)Minimum support priceCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Class 9 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The price that is announced before the sowing season is called:a)Issue priceb)Fair pricec)Market priced)Minimum support priceCorrect answer is option 'D'. Can you explain this answer?.
The price that is announced before the sowing season is called:a)Issue priceb)Fair pricec)Market priced)Minimum support priceCorrect answer is option 'D'. Can you explain this answer? for Class 9 2025 is part of Class 9 preparation. The Question and answers have been prepared according to the Class 9 exam syllabus. Information about The price that is announced before the sowing season is called:a)Issue priceb)Fair pricec)Market priced)Minimum support priceCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Class 9 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The price that is announced before the sowing season is called:a)Issue priceb)Fair pricec)Market priced)Minimum support priceCorrect answer is option 'D'. Can you explain this answer?.
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