Economics · Indian Agriculture & Policies

Consider the following statements regarding the agricultural sector in India: Statement I: The Minimum Support Price (MSP) is a statutory guarantee provided by the Indian Constitution ensuring that all 23 mandated crops are purchased by the government if market prices fall below the cost of production. Statement II: The Pradhan Mantri Fasal Bima Yojana (PMFBY) is a multi-peril crop insurance scheme that aims to provide financial support to farmers suffering crop loss due to non-preventable risks. Statement III: Fragmentation of landholdings, where over 85 percent of farmers are small and marginal with less than 2 hectares of land, prevents the adoption of modern mechanization and economies of scale. Which of the statements given above are correct?