Consider the following statements regarding Minimum Support Price (MSP): 1. For cereals, pulses and oil-seeds, MSP-based procurement is unlimited. 2. For cereals and pulses, MSP is fixed at a level that the market price will never exceed. Which is correct?

A. 1 only

B. 2 only

C. Both 1 and 2

D. Neither 1 nor 2

Question Details

Consider the following statements regarding Minimum Support Price (MSP): 1. For cereals, pulses and oil-seeds, MSP-based procurement is unlimited. 2. For cereals and pulses, MSP is fixed at a level that the market price will never exceed. Which is correct?

Explanation: