What does MSP (Minimum Support Price) primarily aim to ensure?

Subsidized fertilizers for farmers
A guaranteed minimum price for farmers' produce
Crop insurance coverage for farmers
Easy access to credit for farmers

Agriculture

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Answer:

Option B: A guaranteed minimum price for farmers' produce

Detailed Solution:

The correct answer is “A guaranteed minimum price for farmers' produce”.

The Minimum Support Price (MSP) is a form of market intervention by the Government of India to insure agricultural producers against any sharp fall in farm prices. The minimum support prices are announced at the beginning of the sowing season for certain crops.