Minimum Support Price (MSP) of the agricultural crops in India is fixed by the government on the recommendations of the:

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Question

This question was previously asked in

Rajasthan PTET 2012 - Official Paper (Memory-Based)

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Answer 1

The correct answer is Commission for Agricultural Costs and Prices (CACP).

Key Points

The Minimum Support Price of the agricultural crops in India is fixed by the government on the recommendations of the Commission for Agricultural Costs and Prices.
It is an agricultural product price set by the Government of India to purchase directly from the farmer.
The Indian government sets the price for 23 commodities twice a year.
Commission for Agricultural Costs and Prices is a decentralized agency of the Government of India.
- It was established in 1965 as the Agricultural Prices Commission and was given its present name in 1985.
- It is a statutory body attached to the Ministry of Agriculture & Farmers Welfare, Government of India.

Additional Information

Organization	Establishment year	Headquarter	Chairperson/Governor
Commission for Agricultural Costs and Prices (CACP)	1 January 1965	New Delhi	Vijay Pal Sharma
Food Corporation of India (FCI)	14 January 1965	New Delhi	Ashok Kumar Meena
Reserve Bank of India	1 April 1935	Mumbai	Shaktikanta Das
National Bank for Agriculture and Rural Development (NABARD)	12 July 1982	Mumbai	Shaji K V