Gs-3 : Agriculture- WTO- Food security India aims to protect | VK IAS by Vikas kanukollu (VK)
Gs-3 : Agriculture- WTO- Food security
India aims to protect its right to purchase food grains from its farmers at minimum support prices (MSP) without violating the WTO’s Agreement on Agriculture (AoA) rules.India argues that its MSP policy doesn't limit how much rice the government can buy, as the AoA quantifies "eligible production" to assess if a country's support exceeds the allowed amount. India's MSP is under scrutiny as it may exceed the AoA limits.
The currency devaluation is also discussed as a factor that affects the calculation of MSP and market price support. The AoA uses external reference prices set in the 1986-88 period, and currency fluctuations can affect how domestic support is calculated.
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