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What is the basis of MSP? How is it fixed, and how binding is it?

  Nov 03, 2020

What is the basis of MSP? How is it fixed, and how binding is it?

Q. Why is this in news?

A.  The newly passed farm trade Bill has raised concerns that farmers may no longer be assured MSP for their crop. But MSP isn’t even mentioned in the new law or in existing ones. 

Q. What does the law say about MSP?

Q. What is the basis of MSP then?

Q. Has there been any move to give MSP legislative backing?