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Question

Which one of the following is announced by the government in support of a crop?

A
Maximum support price
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B
Minimum support price
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C
Moderate support price
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D
Influential support price
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Solution

The correct option is B Minimum support price
The Minimum Support Price (MSP) was announced by the Government of India for the first time in 1966-67 for wheat. The MSP is the price at which government purchases crops from the farmers.

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