Topic Details (Notes format)

MSP Reforms and Foodgrain Procurement

Subject: Economics

Book: Comprehensive Indian Economy - Additional Topics

The Minimum Support Price ensures a floor for farmers’ produce, primarily for wheat and paddy, managed by FCI. Criticisms include overproduction of water-intensive crops and distortions in crop diversification. Reforms suggest direct benefit transfers, rationalizing MSP coverage, or linking MSP to market-based eNAM mechanisms. For exam angles, examine how procurement affects government stockpiles, fiscal outlays (food subsidy), and concerns about rational water usage or nutritional security across states.

Practice Questions

What is the objective of the Goods and Services Tax (GST)?

View Question

What is the primary goal of a progressive tax system?

View Question

What is “inclusive growth”?

View Question

What does the “Human Development Index” measure?

View Question

Which of the following is an example of a renewable resource?

View Question

What is meant by “liquidity trap”?

View Question

What is the main purpose of monetary policy?

View Question

What does the Gini Coefficient measure?

View Question

What does the term “capital account” refer to in the balance of payments?

View Question

What does “inclusive banking” mean?

View Question