UPSC PRELIMS · ECONOMICS · AGRICULTURAL POLICY — MSP PROCUREMENT
Consider the following statements: 1. In the case of all cereals, pulses and oil-seeds, procurement at Minimum Support Prices (MSP) is unlimited in any State/UT of India. 2. In the case of cereals and pulses, MSP is fixed in any State/UT at a level to which the market price will never rise. Which of the statements given above is/are correct?
Take a breath. Choose one. Press A–D on your keyboard if you like.
EXPLANATION
MSP procurement is not literally unlimited, and MSP does not place a ceiling preventing market prices from rising above it.
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