RBI Grade BNABARD ESISEBI
In one line
Context:
The Union government on Tuesday announced a minimum support price (MSP) for mangoes, bringing relief to thousands of farmers in Karnataka, who had been affected by crop loss and drastic fall in prices this year.
Key Highlights
“RBI MPC Unpacked: Key Theory Meets Today’s Macro Trends”Tap to play · from the C4S channel
- Minimum Support Price (MSP):
- ₹1,616 per quintal for mangoes.
- Procurement Target:
- 2.5 lakh metric tonnes to be procured by the Karnataka government with Centre’s approval under the Market Intervention Scheme (MIS).
- Reason for Intervention:
- Severe crop losses and drastic price crash faced by mango farmers.
- Escalating protests, including highway blockade and fruit dumping on the Bengaluru-Chennai Highway near Kondarajanahalli.
- Successful bandh organized in Srinivasapura, the main mango cultivation hub in Karnataka.
What is the Market Intervention Scheme (MIS)?
- MIS is a price support mechanism implemented for horticultural and perishable commodities not covered under the MSP regime.
- Aims to protect farmers from distress sales by offering government-backed procurement during price crashes.
- It is implemented on the request of state governments, with the Centre sharing losses.
