Explain in brief the important instruments which have been developed by the government to safeguard the interests of farmers.

Or

Explain the important instruments which have been developed by the Government to protect the income of the farmers and provide food-grains at subsidised rate to poor.

Instruments aiming at protecting the income of the farmers and providing food-grains at a subsidised rate to the poor : These instruments are as follows :

1. Fixing of minimum support price : Presently government fixed MSP for 24 agricultural products. MPS is announced before the sowing season and assures the minimum price. It provides long-term guarantee to the farmers.

2. Buffer stock : Buffer stock is the stock of food-grains namely wheat and rice procured by the government through Food Corporation of India (FCI). The buffer stock is created by the Government to distribute food-grains in the deficit areas and among the poorer strata of society at a price lower than the market price.

3. Public Distribution System (PDS) : It is a system under which the food procured by FCI is distributed.