Phase IFoundation
Background
Overview
MSP is a cornerstone of India's agricultural policy, directly impacting farmer incomes, food security, cropping patterns, and government finances. It's a recurring topic in debates on agricultural reforms, farmer welfare, and economic sustainability.
Minimum Support Price (MSP) is a form of market intervention by the Government of India to protect agricultural producers against any sharp fall in farm prices. The MSP is announced by the government for certain crops before the sowing season to ensure remunerative prices for farmers and encourage higher production.