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New Delhi [India], June 9 (ANI): In a bid to increase the farmers' income, the Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved an increase in the Minimum Support Prices (MSPs) for all mandated Kharif crops for marketing season 2021-22. ....
Ensure farmers’ right to remunerative prices × Farmers’ organisations are right in seeking legal backing for MSP. The price deficiency payment scheme should be implemented Due to certain peculiarities of agriculture, farmers as producers, unlike their counterparts elsewhere, are not in a position to decide the price of what they produce. Price discovery through sheer free play of supply and demand that rarely exists elsewhere, prevails in agriculture. That, unfortunately, relegate the farmers to price ‘takers’ rather than ‘makers’, and that is the root cause of the problem. Keeping this serious deterrent in view, the government of India has been ‘intervening’ by declaring Minimum Support Price (MSP) to put a check on ‘free market forces’ so that the prices of farm commodities are not pushed below that benchmark level. ....
MSP isn’t a solution to farmers’ woes Covering all 23 crops under MSP is a gigantic task, requiring huge budget allocations - THE HINDU Covering all 23 crops under MSP is a gigantic task, requiring huge budget allocations - THE HINDU× A better bet is the Price Deficiency Payment Scheme, as it is easy to execute and can cover all crops and farmers The agitating farmers are mainly demanding guarantee of minimum support price (MSP), although the new farm laws are not related to MSP in any way and the government has time and gain said that procurement under MSP will continue. ....