Answer» Correct Answer - Option 4 : linseed
The correct answer is linseed. - The government announces, Minimum Support Prices (MSP) for agricultural commodities each year in both the Crop seasons after taking into account the recommendations of the Commission for Agricultural Costs and Prices (CACP).
- In formulating the recommendations for MSP, CACP considers a number of things like the cost of production, input-output price parity, demand, and supply, etc.
MSP is a kind of insurance that the government provides to farmers in case of a bumper production of a crop and a fall in prices. The government is bound to buy the crop at MSP from farmers if the price of the crop falls critically due to excessive supply. - As of 2020-21, CACP recommends MSPs of 23 commodities, which comprise 7 cereals (paddy, wheat, maize, sorghum, pearl millet, barley and ragi), 5 pulses (gram, tur, moong, urad, lentil), 7 oilseeds (groundnut, rapeseed-mustard, soyabean, sesamum, sunflower, safflower, nigerseed), and 4 commercial crops (copra, sugarcane, cotton and raw jute).
- The government announces, Minimum Support Prices (MSP) for agricultural commodities each year in both the Crop seasons after taking into account the recommendations of the Commission for Agricultural Costs and Prices (CACP).
- CACP recommends MSP for twenty-two (22) crops and Fair & Remunerative Price (FRP) for sugarcane.
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