The Minimum Support Price for food grains was introduced in the year :

Options

A. 1944
B. 1964
C. 1974
D. 1954

Answer

C

Explanation

The National Development Council recognized the need for fixing minimum support price of foodgrains in 1959. However, till the mid 1973-74, Government announced two types of administered prices: Minimum Support Prices and Procurement Prices. The present system was evolved in 1975-76 when MSP for paddy, coarse cereals, wheat and gram were announced.