Impact Execution of Minimum Support Prices and their Effects on Sustainable Agriculture Practices: A SEM Analysis
DOI:
https://doi.org/10.31305/rrijm.2023.v08.n06.009Keywords:
Green Finance, Minimum Support Price (MSP), Agricultural Expansion, Sustainable Agricultural Practices (SAP)Abstract
For many households to continue to have a means of subsistence, agriculture is essential, particularly in India. This paper examines the most significant aspects of the MSP and its impact on environmentally Sustainable Agricultural Practices (SAP). These 390 marginal farmers were selected in Rajasthan using a survey methodology that included well-organized and convenient sampling procedures. According to the findings, the producers appeared to have prior knowledge of the MSP. Several supply factors, such as Area under cultivation, Productivity of land, Processing cost, Transportation, Distribution, Taxes, fee, and Subsidies, were found to have a positive and substantial relationship with SAP. In a similar vein, SAP is positively correlated with production costs, input costs, market prices, demand and supply, inflation, and international pricing. Agricultural factors influence all these factors. To make agriculture in Rajasthan more sustainable, an original and forward-thinking conceptual paradigm was developed. This study expands upon the conventional applications of MSP and SAP, thereby adding to the existing corpus of knowledge.
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