Economics · Economy
Why does the Government of India declare the Minimum Support Price (MSP) for crops before the sowing season begins?
- 1To provide them with direct funds for developing irrigation facilities
- 2To provide protection to farmers from market price volatility✓
- 3To encourage the barter system in agricultural trade
- 4To provide farmers with upfront money for buying seeds
Correct answer
To provide protection to farmers from market price volatility
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