(wl-4203)-Raising Farmers’ Income Requires More Than MSP Guarantee

Indian farmers’ incomes are affected by various risks and uncertainties ranging from sourcing quality inputs and institutional credit to monsoon and weather aberrations to inadequate postharvest management and price uncertainties. As a result, assuring or raising farmers’ incomes has been a challenging task for policy makers over decades. Under such scenario, legal guarantee of agricultural prices at minimum support price (MSP) may addresses only price risk and cannot assure farmers’ incomes as the remaining risks still persist. In order to secure farmers’ incomes, it is essential to address the risks and uncertainties persisting across the entire agricultural production and marketing ecosystem with a comprehensive policy strategy equipped with the latest advances in technology and innovative farming solutions.