MSP - Minimum Support Price, is a tool used by the government to protect farmers from falling prices of commodities. In this episode, we discuss what is the nature of agricultural business, what is the role of MSP, how MSP is calculated for different crops and whether MSP procurement has been successful or not. It is important to understand the nitty-gritties of this mechanism to analyse the overall farming system in the country.

Sources and Further References:

MSP, Wikipedia

MSP, Civilsdaily

Report of the Committee on Doubling Farmers’ Income

Evaluation Study On Efficacy of Minimum Support Prices (MSP) on Farmers, NITI Aayog

Impact Of Minimum Support Prices On Agricultural Economy, ISEC

All about MSP and the demand for a legal backing

Cabinet approval of MSP for Rabi Marketing Season 2023-24 

Cost Concepts

Manual on Cost of Cultivation Surveys

Dept of Food & Public Distribution, Annual Report FY22

Revised MSPs still about 47% lower for most of the 14 crops under scheme: Report - The Economic Times

Price Policy for Rabi Crops Marketing Season 2023-24

Price Policy for Kharif Crops Marketing Season 2022-23

MSP and Public Procurement

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