Question

    Government of India announces Minimum Support Prices (MSP) each year in both the Crop seasons after taking into account the recommendations of the Commission for Agricultural Costs and Prices (CACP). For how many crops is the MSP announced every year? 

    A 21 Correct Answer Incorrect Answer
    B 23 Correct Answer Incorrect Answer
    C 22 Correct Answer Incorrect Answer
    D 25 Correct Answer Incorrect Answer
    E 26 Correct Answer Incorrect Answer

    Solution

    The MSP is the rate at which the government purchases crops from farmers, and is based on a calculation of at least one-and-a-half times the cost of production incurred by the farmers.

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