Minimum Support Price (MSP) is a minimum price paid by the Government to farmers whenever they procure a particular crop. Read the article below to find out how many corps are procured under MSP and the Minimum Support Price fixed by the government for each crop.

Explained: What is Minimum Support Price (MSP)?

Minimum Support Price (MSP) is a minimum price paid by the Government to farmers whenever they procure a particular crop. Read the article below to find out how many corps are procured under MSP and the Minimum Support Price fixed by the government for each crop.

Created On: Jul 9, 2021 12:21 IST
Modified On: Jul 9, 2021 12:23 IST Minimum Support Price

The protesting farmer unions’ have two fundamental demandsrepeal of enacted by the Central Government and legal guarantee for the MSP for various crops every year.

The demand for a legal MSP is a longstanding one and no steps have been taken so far by any government to address it. The farmers fear that without legal backing to MSP, they will be left at the mercy of local traders and middlemen.

What is the Minimum Support Price (MSP)?

Minimum Support Price (MSP) is a fixed price paid by the Government of India to farmers whenever they procure a particular crop. It is fixed prior to the sowing season to encourage higher investment and production of agricultural commodities. It is to be noted that MSP cannot be altered in any given situation.