Recently, Cabinet Committee on Economic Affairs (CCEA) approved an increase in Minimum Support Price (MSP) for six rabi crops for 2023-24.
Minimum Support Price (MSP) is a form of market intervention by the Government of India to insure agricultural producers against any sharp fall in farm prices. The minimum support prices are announced by the Government of India at the beginning of the sowing season for certain crops on the basis of the recommendations of the Commission for Agricultural Costs and Prices (CACP).
MSP system was started in 1966-67 for wheat and was expanded further to include other essential ....
