How does the Minimum Support Price (MSP) contribute to food security in India?

How does the Minimum Support Price (MSP) contribute to food security in India?

Step 1: Understand what Minimum Support Price (MSP) is. It is a price set by the government to ensure that farmers get a minimum price for their crops.
Step 2: Realize that when farmers know they will get a guaranteed price for their produce, they are more likely to grow more food.
Step 3: Recognize that when more food is produced, there is a greater supply available in the market.
Step 4: A greater supply of food helps to stabilize food prices and makes food more accessible to everyone.
Step 5: Understand that when people have access to enough food, it contributes to overall food security in the country.

Minimum Support Price (MSP) – A government-set price at which it purchases certain crops from farmers, ensuring they receive a minimum income.
Food Security – The state where all people have physical, social, and economic access to sufficient, safe, and nutritious food.
Agricultural Production Incentives – Factors that encourage farmers to increase the quantity and quality of food produced.