PREVIOUS
✖
MSP for Oilseeds
September 28 , 2021
1028 days
662
0
- The Union government announced very high Minimum Support Price (MSP) for rabi crops such as oilseeds and pulses to boost their production.
- The 50% rise in price of edible oils is mainly due to labour shortages and crop failures in major edible oil-producing nations - Indonesia, Malaysia, Argentina, etc.
- So, the government increased MSP for oilseeds to
- Cut down India’s dependence on foreign oil imports by boosting domestic production, and
- Protect Indian consumers from price shocks due to global factors.
Leave a Reply
Your Comment is awaiting moderation.