What do you mean by suplus meaning as per the book also tell me meaning of pre-announced price i am unable to understand ??
Dear Student,
"Surplus" means excessive. Something in plenty maybe called surplus.
Minimum support price − It is the pre-announced price at which the government purchases food grains from the farmers to create a buffer stock. The minimum support price is declared by the government every year before the growing season. This provides incentives to the farmers for raising the production of the crops.
"Surplus" means excessive. Something in plenty maybe called surplus.
Minimum support price − It is the pre-announced price at which the government purchases food grains from the farmers to create a buffer stock. The minimum support price is declared by the government every year before the growing season. This provides incentives to the farmers for raising the production of the crops.
Regards