What is MSP, what is the meaning of MSP, MSP full form, what does MSP mean, what is the full form of MSP? Expand full name of MSP. What does MSP stand for? Is it acronym or abbreviation?
In this post, I am gonna answer your queries regarding MSP including MSP full form.
MSP Full Form - Minimum Support Price
The full form of MSP is “Minimum Support Price”. India is an agricultural country, MSP is related to the lowest price of the crop of the farmer. Through this, the government has put a rule to increase the price of food grains every year.
The MSP was approved on 24 December 1964 but was not implemented at the same time. B Sivaraman, who was the then Secretary to the Government of India, gave the final seal on 19 October 1965, after which the minimum support price for wheat, i.e. MSP, was announced for the first time in 1966-67. Every year since then, governments have started with the announcement of the minimum support price for crops. The support price is announced just before the sowing of crops.
In this post, I tried covering everything related to MSP including the full form of MSP. Now, it’s your turn. Give this nice post a favor by sharing it with your friends.