Friends, if you also want to know about MSP, then read this post completely carefully, in which you have been explained about MSP closely.
What is MSP Full Form? MSP Meaning
MSP Full Form is Minimum Support Price. If you talk in Hindi language then MSP means न्यूनतम समर्थन मूल्य. This is a kind of guaranteed price that protects farmers from loss even when the price of the crop is low.
Fluctuations of agricultural products are seen in the markets every single day. Sometimes the prices of agricultural products are high, sometimes they are reduced so much that the income of the farmers is affected. There is no impact of any loss on the income of the farmers, so the minimum support price i.e. minimum support price is fixed on the crops of the farmers in advance.
If you talk directly, MSP is the lowest guaranteed line of profit for the farmers. If the prices of the crops in the markets are very low, then the government buys the crops of the farmers at fixed prices in MSP.
Some important things about MSP: -
1) The minimum support price is provided by the central government or the state government.
2) MSP is provided only to the farmers of the country.
3) The aim of Minimum Support Price is to buy the crops at the fixed price of the farmers so that their income does not fluctuate.
4) MSP was started in 1966 -67.
5) The minimum support price is decided by the Commission for Agricultural Costs and Prices.
How is the MSP calculated?
There are three types of methods for calculating MSP: -
A2: It is the cost incurred by the farmers out of their own pockets, including loans for machinery, fuel, irrigation etc. and the cost of renting the land.
A2 + FL: It is the estimated value of unpaid labor for harvesting such as contributions from family members and others. This is in addition to the paid-out cost.
C2: Comprehensive cost (C2) is the actual cost of production. Because it includes A2 + FL rate, rent and interest on land and machinery owned by farmers.
According to the committee, an ideal formula for calculating MSP is: -
MSP = 50% of C2 + C2
Which crops do MSP get?
There are a total of 22 such crops in the country which have been providing minimum support price by the government for 3 years, so let's know which crops the government provides the MSP to the farmers.
1) MSP is being announced in the first two crops commercial crops such as Ridge Joth and Khopra.
2) Now 6 crops are rabi such as wheat, barley, gram, rapeseed, mustard, safflower, lentils.
3) Now the remaining 14 crops are associated with kharif such as maize, pigeonpea, moong, paddy, sorghum, millet, sunflower, rosewood, nigrcid, cotton, groundnut, soybean, ragi.
Conclusion
Today we found out what is MSP? What is the full form of MSP? On which crops MSP is given. If you are facing any kind of question related to MSP, then please tell me by writing in the comment box and at the same time we will continue to provide you the necessary information in the same way.
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