Who announces Minimum Support Prices for agricultural produce?

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Commission for Agricultural Costs and Prices (CACP)

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Solution

The correct option is B Commission for Agricultural Costs and Prices (CACP)
The minimum support prices are announced by the Government of India at the beginning of the sowing season for certain crops based on the recommendations of the Commission for Agricultural Costs and Prices (CACP). MSP is price fixed by the Government of India to protect the farmers against excessive fall in price during bumper production years.
The minimum support price is a guaranteed price for their produce from the Government.
The major objectives are to support the farmers from distress sales and to procure food grains for public distribution.

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Similar questions

Q36. Consider the following statements regarding Fair and Remunerative Price (FRP) of sugarcane:

1. It approved by Commission for Agricultural Costs and Prices (CACP).

2. It is announced for Jute as well.

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

Q27. Consider the following statements with regard to Minimum Support Price (MSP).

1. MSP is price fixed by the Commission for Agricultural Costs and Prices (CACP).

2. The change in input prices is not included while considering the MSP.

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

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