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____ is an assurance to the farmers that their produce would be purchased by the government at the specified price.
MSP
MRP
Both a and b
None of these
- Option 1: MSP (Minimum Support Price)
- Correct Answer
- It is a government assurance to farmers that their produce will be purchased at a specified price. This ensures a minimum profit to the farmers and reduces their risk.
- Option 2: MRP (Maximum Retail Price)
- It is the maximum price at which a product can be sold to consumers. It is unrelated to government purchases from farmers.
- Option 3: Both a and b
- Incorrect because MRP is not related to government buying farmers' produce.
- Option 4: None of these
- Incorrect as MSP is the correct assurance mechanism.
By: santosh ProfileResourcesReport error
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