Economics · Indian Economy
Which statement accurately describes the concept of Minimum Support Price (MSP) in India?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The baseline price calculated exclusively for the export of agricultural commodities to international markets.
- 2The subsidized price at which the government distributes food grains to consumers through Fair Price Shops.
- 3The maximum price at which traders can legally purchase agricultural produce from the open market.
- 4The price at which the government guarantees to purchase crops directly from farmers if market rates fall below it.✓
Correct answer
The price at which the government guarantees to purchase crops directly from farmers if market rates fall below it.
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