The Minimum Support Prices in India are notified based on the recommendations of which one among the following Commissions ?
- Commission for Agricultural Costs and Prices
- Commission for Farmers' Benefits and Costs
- Commission for Agricultural Subsidy Costs and Prices
- Commission for Agricultural Subsidy Benefits and Costs
The Correct Option is A
Solution and Explanation
In India, the Minimum Support Prices (MSP) are crucial for providing a safety net to farmers by assuring a minimum price for their produce. The determination of these prices plays a significant role in the agricultural sector and overall economy. The Commission for Agricultural Costs and Prices (CACP) is the authoritative body responsible for recommending the MSP.
The CACP evaluates a variety of factors before making its recommendations, including:
- Cost of production
- Changes in input prices
- Market price trends
- Inter-crop price parity
- The demand and supply situation
By considering these factors, the CACP aims to ensure that the MSP is fair and beneficial for both the farmers and the market. The recommendations made by the CACP are aimed at incentivizing farmers to adopt the best practices and inputs to increase agricultural productivity.
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