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Why are rice farmers facing profitably challenges?
The Indian government fixes a Minimum Support Price or MSP for 22 crops - paddy, wheat, several pulses, oilseeds and millets are a part of this list. The objective of declaring MSP is to help farmers get a good price for their produce and to procure food grains for public distribution. However, recent data shows that the cost of production is rising.
A recent report by Infomerics Ratings notes that the value of MSP for paddy has increased over time, reflecting the rising overall cost of production. However, it also notes that the input costs have also increased drastically.
It also notes that…
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