The concept of "Minimum Support Price"(MSP) is primarily associated with:

Correct option is B

• Minimum Support Price (MSP) is a form of market intervention by the Government of India, intended to safeguard farmers against any sharp fall in farm prices.
• MSP is announced by the Government before the sowing season and acts as a guarantee price for their produce.

Minimum Support Price (MSP) Regime in India :

• About MSP:
  MSP is a government policy aimed at protecting agricultural producers from sharp price falls during bumper production years. It is not enforceable by law but is a market intervention to stabilize agricultural prices.
• Announced By:
  MSPs are announced by the Cabinet Committee on Economic Affairs (chaired by the PM of India), based on the recommendations of the Commission for Agricultural Costs and Prices (CACP), at the beginning of the sowing season for specific crops.
• Objectives:
• Guarantee a price for farmers’ produce to prevent distress sales.
• Stabilize agricultural markets and ensure fair returns to farmers, crucial for boosting pulse production in India.
• Background:
• India's agricultural sector suffered under British rule, leaving farmers impoverished.
• The Food-Grain Enquiry Committee (1957) and the Food Grain Price Committee (1964) were formed to address agricultural issues.
• The first MSP announcement was made in 1967 by Jagjivan Ram.
• The Agricultural Prices Commission (renamed CACP in 1985) was set up to fix MSP for crops.
• Crops Covered:
  The government announces MSPs for 22 crops and the Fair and Remunerative Price (FRP) for sugarcane, totaling 23 crops.
• Kharif crops: 14 crops.
• Rabi crops: 6 crops (Wheat, Barley, Gram, Masur, Rapeseed & Mustard, Safflower).
• Other commercial crops: 2 crops.

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