MINIMUM SUPPORT PRICE (MSP)

 In this informative piece, Rishabh explains the new update on the Minimum Support Price. Eminent instructor Vikas Gupta has carefully examined this article to make sure it is suitable for posting on the Plutus IAS website's current affairs space. 

The Commission for Agricultural Costs & Prices (CACP), an attached office of the Ministry of Agriculture and Farmers Welfare, is responsible for recommending MSPs for various crops. These crops can be categorized as follows:

• Mandated Crops: MSPs are recommended for 22 mandated crops, which include 14 crops of the kharif season (summer), 6 Rabi crops (winter), and 2 other commercial crops. These mandated crops are the primary focus of MSP implementation.
• Sugarcane (Fair and Remunerative Price, FRP): In addition to the mandated crops, the government also fixes the Fair and Remunerative Price (FRP) for sugarcane to support sugarcane farmers.
• Derivative MSPs: In some cases, the MSPs for certain crops like toria and de-husked coconut are determined based on the MSPs of related crops, such as rapeseed/mustard for toria and copra for de-husked coconut.
• • The Commission for Agricultural Cost & Prices (CACP) is a statutory panel operating under the Ministry of Agriculture & Farmers’ Welfare, Government of India.
  • This expert body is responsible for proposing Minimum Support Prices (MSPs) for the notified Kharif and Rabi crops to the Cabinet Committee on Economic Affairs (CCEA).
  • The primary goal of the Commission is to encourage farmers to embrace modern technology, enhance resource utilization, and boost productivity.
  • It’s worth noting that the recommendations made by the CACP are not obligatory for the Government.
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