Legislative Minimum Support Price Recommendation by Agriculture Standing Committee

• The Standing Committee of Parliament on Agriculture, led by Congress leader and former Punjab Chief Minister Charanjit Singh Channi, has recommended a legally guaranteed minimum support price (MSP) for crops.

• The panel has requested the Centre to increase the amount given to farmers under the PM-KISAN scheme to ₹12,000 a year from the current ₹6,000.

• The panel emphasized the importance of MSP in agricultural reform and farmers’ welfare.

• The panel argued that a legally binding MSP would stimulate economic activity in farming areas, benefiting local businesses and economies.

• The panel also predicted that a legally binding MSP system could reduce farmer suicides by providing financial stability, protecting against market volatility, alleviating debt burdens, and improving overall mental health among farmers.