 "Farmers")
The government’s move to increase the minimum support price (MSP) for 14 kharif crops, officially declared last week, will partially benefit farmers, finds a study by rating agency India Ratings and Research (Ind-Ra).
In the analysis, Ind-Ra looked at the agricultural gross value added in MSP for rice and wheat as a proxy for agricultural growth. It considered growth in agricultural wages as a proxy for an increase in input prices between 2003-04 and 2017-18.
Between 2003-04 and 2007-08, the rural economy faced low wage growth and high growth in agricultural output, which meant farmers earned higher margins.
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