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LATEST NEWS UPDATES | Farm Laws: Is MSP guarantee really the elixir that Indian agriculture needs? -Shagun Kapil

Farm Laws: Is MSP guarantee really the elixir that Indian agriculture needs? -Shagun Kapil

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published Published on Nov 24, 2021   modified Modified on Nov 26, 2021

-Down to Earth

The concept is unreasonable and will be detrimental to the country’s agricultural system, feel experts

On November 19, when Prime Minister Narendra Modi announced the decision to repeal the three farm laws, he also stated that the government would form a committee to discuss how the system of minimum support price (MSP) could be more effective.

One of the key demands of the protesting farmers is that MSP is provided for all agricultural produce to every farmer. Farmers’ unions have said the protest will continue till this demand is met. 

MSP is the minimum floor price at which the government procures from farmers and is calculated on the average cost of production. 

The government has annually announced MSP for 23 crops in recent years. But effectively, it is maintained only for a few crops like paddy, wheat, and soybean since there is no legal provision to implement the pricing.

The committee proposed by the Centre will have representatives from Union and state governments, farmer groups as well as agricultural scientists and economists. Irrespective of the decision, a statutory guarantee to MSP will be a big step in agricultural marketing and procurement. 

But is it the best way to move forward and offer support prices to farmers? Also, what will a legal sanction for MSP look like?

Please click here to read more. 


Down to Earth, 24 November, 2021, https://www.downtoearth.org.in/news/agriculture/farm-laws-is-msp-guarantee-really-the-elixir-that-indian-agriculture-needs--80351?fbclid=IwAR2KKHME8u2b9Q8vip5-gMQmUBVLcrlpRSpoM_SIICVoTBQN0XUzKR1SJt0


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