Role of MSP for the Farmers – (GS Paper 3 – Economy)
Recently, In order to “provide remunerative pricing for growers for their produce and to encourage crop diversification,” the Center announced the Minimum Support Price (MSP) for this year’s summer (kharif) season crops, raising prices by between 5 and 10% from the previous season.
About MSP
The MSP is the price that the government gives to purchase farmers’ produce throughout the growing season and is a component of the government’s agricultural price policy. It serves as a tool for production stabilization and price management for consumers.
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Issues/Challenges
Delays in establishing procurement centres.
Abuse at the hands of commission agents, who frequently purchase the food from farmers for less than the MSP.
Lack of knowledge about the MSP among a significant portion of farmers.
Increased input prices and an unfair MSP will cause many farmers, particularly small, marginal, and middle-level producers, as well as tenants, to become indebted.
Farmers are left to the whims of the market and the private players.
Purchase of many crops below MSP and the non-implementation of MSP for other crops.
According to third advance projections for 2022–2023, the India’s total food-grain production is projected to reach a record 330.5 million tonnes, up 14.9 million tonnes from 2021–2022 levels. Highest increase in the last five years, as per government records.
Measures
The government’s price support strategy aims to give farmers a fair return while also considering consumer interests in a way that keeps the cost of food and other agricultural commodities reasonable.
Rise in Income levels of the farmers. 
Government should put more effort into creating a system that effectively guarantees farmers’ purchases and returns for all key crops at the MSP, as is done in the cases of wheat and rice, or expand subsidies on input costs.
Role of MSP for the Farmers
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