What is the pre-declared price for the farmers for their crops by the government? 

The correct answer is Minimum Support Price.

Key Points

• The minimum support price is the price declared by the government to insure agricultural producers against any sharp fall in farm prices.

Additional Information 

• It is announced by the government of India every year before the sowing season and provides incentives to the farmers for raising the production of their crops.
• The crops were selected based on the recommendations of the Commission for agricultural costs and Prices(CACP).
• If the market price for the commodity falls below the minimum support price due to the issues in the market, government agencies purchase the entire quantity at the announced minimum price.
• In India, there are twenty-two crops covered under Minimum Support Price.
• The 22 mandated crops under MSP consist of 14 Kharif crops, 6 rabi crops, and two other commercial crops.
• Some important minimum support price crops in India are:
  • Paddy, wheat, barley, jawar, bajra, maize, and ragi.
  • Gram, arhar/tur, moong, urad and lentil.
  • Groundnut, mustard, sunflower seed, sesamum, and safflower seed.