2) MSP, govt. procurement key to India’s food security, says PM
About MSP :-
- Market intervention as a result of which the GOI ensures protection against any sharp fall in farm prices.
- Announced by the GOI at the beginning of the sowing season as a result of the recommendations of the Commission for Agricultural Costs and Prices (CACP).
Crops Covered Under MSP :-
- Cereals (7) paddy, wheat, barley, jowar, bajra, maize and ragi
- Pulses (5) – gram, arhar/tur, moong, urad and lentil
- Oilseeds (8) – groundnut, rapeseed/mustard, toria, soyabean, sunflower seed, sesamum, safflower seed and nigerseed
- Raw cotton
- Raw jute
- De-husked coconut
- Sugarcane (Fair and remunerative price)
- Virginia flu cured (VFC) tobacco
Approved by CCEA (Cabinet Committee on Economic Affairs, While FRP (Free and Remunerative Prices) is given for Sugarcane.