Mains Answer Writing
Concept Mapping Mentorship- Covering Syllabus Through Themes
- GS & Optional
Evaluate the significance of Minimum Support Price (MSP) in India's agricultural economy, analyzing its impact, associated challenges, and proposing necessary reforms.
Category: Economy (GS -III),
Test Date: 20 Jun 2024
Approach:
- Introduction: Briefly introduce MSP
- Purpose and Benefits of MSP (ensuring income security for farmers; providing price stability in the agricultural market; contributing to food security in India)
- Challenges and Issues Associated with MSP
- Market distortions due to crop choices influenced by MSP
- Overproduction of certain crops
- Fiscal concerns over government expenditure
- India's WTO dispute related to MSP (implications for international trade)
- Reforms and the Way Forward (Strategies such as revisiting subsidy structures, enhancing productivity, and potentially limiting MSP to prevent market distortions while ensuring farmer welfare)
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