CURRENT AFFAIRS

Detailed explanation-1: -Context: The Delhi government has decided to introduce Minimum Support Price (MSP) for farmers based on the report of the MS Swaminathan Commission. Background: A three-member committee was formed in December to study the MS Swaminathan Commission’s report.

Detailed explanation-2: -In order to achieve higher growth in productivity in agriculture, the NCF recommends: Substantial increase in public investment in agriculture related infrastructure particularly in irrigation, drainage, land development, water conservation, research development and road connectivity etc.

Detailed explanation-3: -The Correct answer is Commission for Agricultural Costs and Prices. CACP recommends MSP to Cabinet Committee on Economic Affairs (CCEA) and its decision/recommendations are not binding. It is a statutory body under the Ministry of Agriculture.

Detailed explanation-4: -The Swaminathan Commission Report states that the government should raise the MSP to at least 50% more than the weighted average cost of production. It is also known as the C2+ 50% formula. It includes the imputed cost of capital and the rent on the land (called ‘C2’) to give farmers 50% returns.

Detailed explanation-5: -The Swaminathan Report covers key recommendations and findings related to farmer competitiveness, productivity of agriculture, irrigation, employment, food security, credit and insurance. Suggestions for achieving the goal of “faster and more inclusive growth” were given in the Swaminathan Report.