Finance:Minimum Support Price
From HandWiki
Minimum Support Price or MSP is an Agriculture product price set by the Government of India to purchase directly from the farmer. This rate is to safeguard farmer to minimum profit for the harvest, if the open market has lesser price than the cost incurred.[1]
The MSP
The Indian government sets the price for 23 commodities from time to time.[2][3] The Indian Union Budget for 2018-19 has promised to support MSP for at least 50 per cent returns on production costs.
Farmers protest
The governments face protests from farmers when the market prices for products fall and there is a demand to increase MSP rates.
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