|Definition||:||Minimum Support Price|
|Category||:||Governmental » Rules & Regulations|
What does MSP mean?
Minimum Support Price (MSP) is the minimum price for an agricultural product set by the government of India to purchase directly from the farmers. The purpose of MSP is to support the farmers (producers) against the price volatility of agricultural commodities due to factors like the variation in their supply, and lack of market integration.
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Frequently Asked Questions (FAQ)What is the full form of MSP in Governmental (India)?
The full form of MSP is Minimum Support PriceWhat are the full forms of MSP in Governmental?