A study of Minimum Support Price Trends & Issues in India

The central government has implemented the Minimum Support Price Policy to provide areasonable price to the farmers from their farms. The government had adopted the Minimum SupportPrice Policy to supply the food grains that were in short supply due to the Green Revolution in 1960.While deciding this policy, the government considered all aspects of the farmers, but the needs of thefarmers were confused, will the goods produced by the farmers in large quantities get a fair footing? Thisquestion was before the farmers. The farmers felt that the farmers should get the minimum cost ofproduction for the goods produced by the farmers. To resolve the problems of the farmers, the governmentappointed a committee under the chairmanship of L. K. ZA in August 1964. This committee submitted itsreport to the government. The government implemented the recommendations of this committee andaccepted the Minimum Support Price from 1964. World Wide Any country implements the MinimumSupport Price Policy at the international level and no laws have been made to determine the support price.If we consider developed countries, we see that in America, agricultural products are insured to helpfarmers, and 80% to 90% of the cost of this insurance is borne by the government. If there is a drought inthe country, the government purchases agricultural products from farmers through government agenciesat the fixed price of agricultural products. According to international rules, any country can provide 90%subsidy of its agricultural production GDP, in European countries, subsidies are given to farmers on thecondition of eco-friendly farming. In China, farmers are given subsidies for seeds, water, and agriculturalequipment. In the United States, income support is given to farmers, that is, a certain amount is given tofarmers. India and 54 other countries in the world only provide subsidies to farmers.