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LATEST NEWS UPDATES | MSP is Insurance Against Anarchy in Future: Economist Sukhpal Singh -Ajaz Ashraf

MSP is Insurance Against Anarchy in Future: Economist Sukhpal Singh -Ajaz Ashraf

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published Published on Nov 25, 2021   modified Modified on Nov 26, 2021

-Newsclick.in

Answers to all the questions you are likely to have about the Minimum Support Price and the controversy surrounding it.

Prime Minister Narendra Modi’s hope that his promise to repeal the three new farm laws will have the protesting farmers to promptly fold their tents and leave Delhi has been belied. The farmer unions have instead declared that they are not going to call off their one-year stir until the Union government gives a legal or statutory guarantee to provide the Minimum Support Price for all crops. Economists are bitterly divided—some say it will ruin the economy, others consider the Minimum Support Price as a measure to save farmers from devastation and death. What role does the Minimum Support Price have in agriculture? Why is it vital for farmers to be given a legal guarantee on it?

To answer these questions, NewsClick turned to Professor Sukhpal Singh. There cannot be a better person to explain the nuances of the Minimum Support Price. Prof Singh is Principal Economist (Agricultural Marketing) at Punjab Agricultural University, Ludhiana. He has carried out field surveys, and written academic papers and newspaper articles on Minimum Support Prices, rural distress and farm reforms. More significantly, he has been the head of the department of economics and sociology, and honorary director of the “Cost of Cultivation of Principal Crops”, a scheme sponsored by the Union government to fix Minimum Support Prices.

* Let us begin with the history of the Minimum Support Price: When and why was it introduced?

Economic and political factors determined India’s food policy, of which the Minimum Support Price (MSP) is a crucial element. This policy emerged out of the 1943 Bengal Famine, which killed more than a million people. The famine was largely a result of the inadequate supply of foodgrains, prompting the British Indian government to appoint the Foodgrain Policy Committee, under the chairmanship of George Theodore, which emphasised the rationing of foodgrains.

Several researchers say the British also thought food shortages could create unrest and anarchy. They claim it was then that a prototype of the Green Revolution, which we saw fructify in the 1960s, was evolved.

* What happened in post-Independence India?

Policymakers thought of creating a base for the Green Revolution. In 1964, the first commission for evolving a food pricing policy was constituted—the LK Jha Committee. It recommended the setting up of the Agricultural Prices Commission, which was a precursor to the existing Commission for Agricultural Costs and Prices (CACP). The Agricultural Prices Commission introduced the concepts of Minimum Support Price and Procurement Price (PP).

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Newsclick.in, 25 November, 2021, https://www.newsclick.in/MSP-Insurance-Against-Anarchy-Future-Economist-Sukhpal-Singh?fbclid=IwAR26O_XH6eBkIQhaAcCzYgjNeMeMcsrTgaLAaxkeKm51AFgpnTi1ow1KtQk


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