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Question
The ________________is a type of market intervention used by the Government of India to protect agricultural producers from sharp drops in farm prices.
The ________________is a type of market intervention used by the Government of India to protect agricultural producers from sharp drops in farm prices.
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Solution
The correct option is B Minimum Support Price
Correct answer: Option A
Explanation:
Minimum Support Price (MSP) is the minimum price that should be paid to the farmers for their produce. Thus, you can say, it provides the benchmark for farm prices. Every year, the government announces an MSP for various crops taking into account their cost of cultivation. Through the MSP, the government ensures that the farmers receive fair compensation for their crops.
Correct answer: Option A
Explanation:
Minimum Support Price (MSP) is the minimum price that should be paid to the farmers for their produce. Thus, you can say, it provides the benchmark for farm prices. Every year, the government announces an MSP for various crops taking into account their cost of cultivation. Through the MSP, the government ensures that the farmers receive fair compensation for their crops.
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