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MSP Full form

MSP full form stands for Minimum support price.

What is MSP?

MSP is a “minimum price” for any crop that the government considers as remunerative for farmers and hence deserving of “support”. It is also the price that Indian government agencies pay whenever they purchase a particular crop.

The Centre Government currently fixes MSPs for 23 farm commodities — 7 cereals (paddy, wheat, maize, bajra, jowar, ragi and barley), 5 pulses (chana, arhar/tur, urad, moong and masur), 7 oilseeds (rapeseed-mustard, groundnut, soyabean, sunflower, sesamum, safflower, and nigerseed) and 4 commercial crops (cotton, sugarcane, copra and raw jute).MSP full form stands for Minimum support price

The prices of agricultural commodities often vary due to many factors. If a crop has seen a good harvest season during a particular year, it may see a sharp fall in its prices. This will lead to farmers withdrawing from sowing the crop in the next year which will affect the supply. To counter this, MSP is fixed by the government which is supposed to encourage higher investments and production of crops.

The MSP is fixed twice a year on the recommendations of the Commission for Agricultural Costs and Prices (CACP), which is a statutory body and submits separate reports recommending prices for Kharif and rabi seasons

The CACP submits its recommendations to the government in the form of Price Policy Reports every year, separately for five groups of commodities namely kharif crops, rabi crops, sugarcane, raw jute and copra.

After considering the report and views of the state governments and also keeping in view the overall demand and supply situation in the country, the central government takes the final decision to decide the MSP. 

History of MSP

During the time of Independence, India was staring at a major deficit in terms of cereal production. After the struggling first decade, India decided to go for immense agricultural reforms. It was the first time in the year 1966-67 that the Minimum Support Price was introduced by the Centre. At Rs 54 per quintal, the MSP for wheat was fixed for the first time. The full form of the MSP stands for Minimum support price.

What was the need of introducing MSP?

On the path to achieving the Green Revolution, Indian policymakers decided that the farmers needed incentives to grow food crops. Otherwise, they won’t opt for crops such as wheat and paddy as they were labor-intensive and didn’t fetch lucrative prices. Hence, to incentivize the farmers and boost production, the MSP was introduced in the 1960s.

Statement Showing Minimum Support Prices – Fixed by Government (Rs.quintal)

ommodityVariety2010-112011-122012-132013-142014-152015-162016-172017-182018-192019-202020-21
KHARIF CROPS  
PADDYCommon10001080125013101360141014701550175018151868
Grade ‘A’10301110128013451400145015101590177018351888
JOWARHybrid880980150015001530157016251700243025502620
Maldandi9001000152015201550159016501725245025702640
BAJRA 880980117512501250127513301425195020002150
MAIZE 880980117513101310132513651425170017601850
RAGI 9651050150015001550165017251900289731503295
Tur (Arhar) 300032003850430043504625^5050^^5450^567558006000
MOONG 317035004400450046004850^5225^^5575^697570507196
URAD 290033004300430043504625^5000^^5400^560057006000
COTTONMedium Staple25002800360037003750380038604020515052555515
Long Staple30003300390040004050410041604320545055505825
Groundnut2300270037004000400040304220*4450^489050905275
SUNFLOWER SEED2350280037003700375038003950*4100*538856505885
SOYABEANBlack14001650220025002500     –     –3050^33993710     –
Yellow$$1440169022402560256026002775*   3880
SESAMUM2900340042004500460047005000^5300*624964856855
NIGERSEED2450290035003500360036503825*4050*587759406695
RABICROPS   
WHEAT11201285135014001450 152516251735184019251975
BARLEY78098098011001150122513251410144015251600
GRAM210028003000310031753500**4000^4400!462048755100
MASUR (LENTIL)225028002900295030753400**3950!4250*447548005100
Rapeseed & Mustard1850250030003050310033503700*4000*420044254650
SAFFLOWER1800250028003000305033003700*4100494552155327
TORIA1780242529703020302032903560390041904425  –
OTHER CROPS   
COPRAMilling44504525510052505250555059506500751195219960
(Calender Year)Ball470047755350550055005830624067857750992010300
DE-HUSKED COCONUT
Calender Year)
12001200140014251425150016001760203025712700
JUTE15751675220023002400270032003500370039504225
   

Conclusion

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MSP Full Form In English? What Is the Full form Of  MSP? What Is Long-Form Of the MSP? What Is Abbreviation Of MSP, What Is Short Form Of Minimum support priceMSP Meaning In English? What Is the Meaning Of MSP? Definition Of MSP?

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