JKSSB Mock Tests

What is the primary purpose of Minimum Support Price (MSP) in Indian agriculture?

A. To determine the prices for various farm products purchased by the government
B. To determine the price of seeds used in agriculture
C. To determine the prices for various farm products for sale in the open market
D. To determine the price of fertiliser and electricity paid by farmers
Answer: Option A
Solution (By JKSSB Mock Tests Team)
The Minimum Support Price (MSP) is an agricultural product price set by the Government of India to purchase directly from the farmer, safeguarding them against sharp falls in farm prices.
This Question Belongs to: General knowledge mcqs Economics set 2

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