Minimum support price was first observed for which of the following crop in 1966-67?

Wheat

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Rice

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Jowar

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All the above

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Solution

The correct option is A Wheat
Minimum Support Price is the price at which government purchases crops from the farmers, whatever may be the price for the crops. Minimum Support Price is an important part of India’s agricultural price policy.

It is a form of market intervention by the Government of India to ensure agricultural producers against any sharp fall in farm prices.

Minimum support price was first observed for wheat.

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Similar questions

Q16. Consider the following statements about Minimum Support Prices (MSP):

1. MSP is the price at which government purchases crops from the farmers, whatever may be the price for the crops.

2. The minimum support prices are announced by the Government of India at the beginning of the sowing season for certain crops on the basis of the recommendations of the Ministry of Agriculture.

Which of the above statements are correct?

Q. In India, what does the minimum support price for a crop indicate?

Q. Government announces minimum support prices (MSPs) for ______ mandated crops.

Q. Minimum Support Price (MSP) for Food Grains was introduced in the year of ________.

Consider the following statements related to different aspects of Minimum Support Price:-

1. The Minimum Support Price was announced by the government of India for the first time in 1975-76 for cotton.

2. In calculating MSP the number of hours that the bullock actually works on the forms is used for the calculation.

3. The recommendation of commission for Agriculture cost and prices and views are of state government are considered while deciding MSP.

Which of the above statement(s) is/are correct?

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