MSP is for 24 crops

Q.  Which of the following is/are true regarding MSP?

1) MSP is declared for 22 crops.
2) Final authority deciding and approving the MSP is Commission for Agricultural Costs and Prices.
- Published on 24 Aug 16

a. Only 1
b. Only 2
c. Both 1 and 2
d. Neither 1 nor 2

ANSWER: Neither 1 nor 2
 
  • Based on the recommendations of the Commission for Agricultural Costs and Prices, the Department of Agriculture and Co-operation, Government of India, declares Minimum Support Prices (MSP) for 24 crops before their sowing seasons.
  • The MSP is fixed on the recommendations of the Commission for Agricultural Costs and Prices (CACP). The CACP is a statutory body and submits separate reports recommending prices for Kharif and Rabi seasons.
  • The Central Government after considering the report and views of the State Governments and also keeping in view the overall demand and supply situation in the country, takes the final decision.
  • Cabinet Committee on Economic Affairs finally approves it.

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