Economics · Agricultural Economics
Consider the following statements regarding the MSP mechanism and Rabi crops: Statement I: The Minimum Support Price (MSP) serves as a government-guaranteed procurement rate that shields farmers from market price volatility. Statement II: The MSP mechanism primarily aims to reduce food inflation by discouraging crop diversification and ensuring the dominance of a few staple crops. Statement III: The government's Mission for Aatmanirbharta in Pulses seeks to enhance domestic production and reduce import dependency on pulses. Which one of the following is correct in respect of the above statements?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Neither Statement II nor Statement III is correct.✓
- 2Only one of the Statements II and III is correct, and that explains Statement I.
- 3Both Statement II and Statement III are correct, but only one of them explains Statement I.
- 4Both Statement II and Statement III are correct, and both of them explain Statement I.
Correct answer
Neither Statement II nor Statement III is correct.
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