Image Credit – PTI Photo
Farmers are back on the road to demand legal guarantee of Minimum Support Price (MSP) for their produce along with other demands including implementation of Swaminathan Commission recommendations for farmers welfare, pensions for farmers and farm labourers, etc.
The renewed wave of protests is reminiscent of their opposition to three agricultural bills passed by parliament in 2020, marked by unprecedented protests for more than a year that culminated only after their demands were advanced.
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What is the minimum support price (MSP)?
MSP is the minimum rate at which government agencies purchase agricultural commodities from farmers. It serves as a safety net for farmers, providing them with a minimum income for their production, especially during times of market volatility or hardship.
The MSP system in India is a vital mechanism for ensuring remunerative prices to farmers for their produce. In particular, the MSP is determined based on the recommendations of the Commission on Agricultural Costs and Prices (CACP). The CACP assesses various factors such as cost of production, demand and supply dynamics, market trends and price parity between different crops to arrive at the MSP recommendations.
Image Credit – PTI Photo
Key benefits of MSP for farmers
Income security: MSP provides farmers with a guaranteed minimum price for their crops, ensuring a stable and predictable income, especially during times of market volatility.
Price stability: By setting a minimum price for agricultural commodities, MSP helps stabilize market prices and prevent sharp fluctuations that could negatively affect both farmers and consumers.
Increases production: Maritime spatial planning serves as an incentive for farmers to increase production of crops covered by the maritime spatial planning regime, as they are assured of a remunerative price for their efforts.
Food security: Maritime spatial planning plays a vital role in ensuring food security by encouraging farmers to grow staple food crops. This helps maintain a steady supply of food grains in the market, reduces import dependency and increases domestic food security.
Why are farmers protesting?
Farmers demanded assurance of MSP for all crops, implementation of Swaminathan Commission recommendations, debt waiver, pension for farmers and withdrawal of cases against past protesters.
Pushing for India’s withdrawal from the WTO and free trade agreements are also demands put forward by the farmers.
