The agrarian sector has always been the backbone of India's economy, providing sustenance to millions of rural households. However, in recent years, the agricultural landscape has witnessed distressing trends, including the increasing incidence of farmer suicides. One of the key factors implicated in this issue is the Minimum Support Price (MSP) mechanism implemented by the government. This article seeks to critically examine the connection between MSP and farmer suicides, taking into account various socio-economic factors and policy implications. 1. Understanding Minimum Support Price (MSP) The MSP is a price set by the government to ensure that farmers receive a remunerative return on their produce, especially for major crops like rice, wheat, and cotton. The objective behind MSP is to protect farmers from price fluctuations and ensure food security by guaranteeing them a certain income for their harvest. 2. Farmer Suicides: An Alarming Phenomenon Over the past few decades, the n...
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