MSP full form
MSP full form or meaning is Minimum Support Price. It is the price at which the government purchases crops from the farmers to protect them from market fluctuations. The MSP is announced by the government of India at the beginning of each crop season. The MSP is calculated based on the cost of production, market price trends, and other factors.
The MSP is an important tool for ensuring food security in India. It helps farmers get a fair price for their crops and ensures that they are not exploited by middlemen. The MSP also helps in maintaining buffer stocks of food grains to meet any emergency situation.
The MSP is fixed for 23 crops including paddy, wheat, maize, cotton, sugarcane, etc. The MSP for each crop is fixed by the government after taking into account various factors such as cost of production, demand-supply situation, and international prices.
The MSP has been a subject of debate in recent years. Some experts argue that the MSP has led to overproduction of certain crops and has distorted the market. Others argue that the MSP is necessary to protect farmers from market fluctuations and ensure food security.
In addition to Minimum Support Price, MSP also stands for Managed Service Provider. A managed service provider (MSP) is a third-party company that remotely manages a customer's information technology (IT) infrastructure and end-user systems. Small and medium-sized businesses (SMBs), nonprofits and government agencies hire MSPs to perform a defined set of day-to-day management services.
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- https://fullform.website/agriculture/msp/
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- https://acronyms.thefreedictionary.com/MSP
- https://www.techtarget.com/searchitchannel/definition/managed-service-provider
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