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SSC Stenographer 2022 PYQ — Question 135

SSC Stenographer - 17 Nov 2022 - Shift 3 • General Awareness • Q135

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In the context of agricultural production, MSP refers to:
 

Show answer & explanation

Correct answer: B

Explanation

The correct answer is option 2 i.e. Minimum Support Price

  • Minimum Support Price (MSP) is the rate at which the government purchases crops from farmers and is at least one and a half times the farmers' cost of production.
  • ‘Minimum Support Price’ is the ‘minimum price’ for any crop, which the government considers beneficial for the farmers and hence ‘supports’ the farmers through it.