Parliamentary Panel Supports Legal Warranty For MSP

New Delhi: A Parliamentary Panel on Tuesday recommended the government implement a legally binding minimum support price (MSP) for agricultural produce, arguing that such a measure could significantly reduce farmer suicides and provide crucial financial stability.

The Standing Committee on Agriculture, Animal Husbandry and Food Processing, headed by Congress MP Charanjit Singh Channi, submitted a comprehensive report to Parliament highlighting the potential benefits of a legally guaranteed MSP.

“The committee strongly recommends that the Department of Agriculture and Farmers Welfare declare a roadmap for implementing MSP as a legal guarantee at the earliest,” the report stated. Currently, the government fixes MSP for 23 commodities based on the Commission for Agricultural Costs and Prices (CACP) recommendations.

The Panel argued that a legally binding MSP would not only safeguard farmers’ livelihoods but also promote rural economic growth and enhance national food security.