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From 4th July 2018 the Minimum Support Price (MSP) during 2018-19 for paddy per quintal is
1. Rs. 1,550
2. Rs. 1,650
3. Rs. 1,750
4. Rs. 1,950

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Correct Answer - Option 3 : Rs. 1,750

The correct answer is Rs. 1,750.

  • The minimum support price is a “minimum price” for any crop that the government considers as remunerative for farmers. It is the price that government agencies pay whenever they procure the particular crop. 
  • The concept of MSP, therefore, protects the farmers in the country in situations where crop prices fall drastically.
  • The Central 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, soya bean, sunflower, sesamum, safflower and nigerseed)
    • 4 commercial crops (cotton, sugarcane, copra and raw jute)
  • The MSP is set by the central government for select crops, based on recommendations it receives from the Commission for Agricultural Costs and Prices.
  • When the Green Revolution started in the 1960s, India was actively looking to shore up its food reserves and prevent shortages.
  • The MSP system finally started in 1966-67 for wheat and was expanded further to include other essential food crops. This was then sold to the poor under subsidised rates under the public distribution system.
  • The Minimum Support Price (MSP) during 2018-19 for paddy per quintal was Rs. 1,750.
  • For the year 2020-21, the MSP for paddy is Rs. 1868 per quintal.

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