Price Support Schemes in Major Developed and ...

Price Support Schemes in Major Developed and Developing Countries

Author Name : Mahima, Tiasha Chakraborty

ABSTRACT India’s agricultural policies need to be at par with the world standards and at the same time solve farmer distress caused due to seasonality of agriculture. India has mechanisms like Price linked Minimum Support Price, Market Intervention Scheme, and Pradhan Mantri AnnadataAaySanrakshan Abhiyan already in place. However, a lot can still be learned regarding the provision of price support. Hence, this review paper compares India’s agri-price support policies with some of the WTO countries like Brazil, Russia, China, Argentina, Thailand, and Vietnam and suggests ways in which India can improve its policies by drawing inspiration from these countries.