With reference to Minimum Support Price MSPs consider following statements It is the price at which ...........

Economic Affairs Agricultural Marketing and Prices

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With reference to Minimum Support Price (MSPs), consider following statements

It is the price at which government purchases crops from the farmers.
Government announces MSPs for 14 Kharif crops, 6 Rabi crops and 2 commercial crops.
It is recommended by the Cabinet Committee on Economic Affairs and approved by the Commission for Agricultural Costs and Prices (CACP).

Select the correct statement.

1&2 only

2&3 only

1&3 only

All of the above

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Explanation:

Minimum Support Price is the price at which government purchases crops from the farmers. Government announces minimum support prices (MSPs) for 22 mandated crops and fair and remunerative price (FRP) for sugarcane. The mandated crops are 14 crops of the Kharif season, 6 Rabi crops and two other commercial crops. MSP is recommended by the Commission for Agricultural Costs and Prices (CACP) and approved by Cabinet Committee on Economic Affairs. Hence only statements 1&2 are correct.