Answer:
(i)
It is the most effective government policy in stabilising prices and making food
available to consumers at affordable prices.
(ii) It helps in averting widespread hunger and famine by supplying food from
surplus regions of the country to the deficit areas.
(iii) The prices have been under revision in favour of
poor households in general.
(iv) Minimum Support Price announcement has increased the
food production and provided income security to farmers.
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