Full formGovernment & Exams
MIFstands forMarket Intervention Fund
Full Form of MIF
What is MIF?
The Market Intervention Fund (MIF) is a price support mechanism implemented by the Government of India to protect farmers from sharp falls in the prices of agricultural commodities, especially perishable crops. It operates as a safety net when market prices drop below a certain threshold, ensuring farmers receive a minimum price for their produce. The fund is typically utilized for commodities not covered under the Minimum Support Price (MSP) system, such as onions, potatoes, apples, and other horticultural crops. The scheme is administered by the Ministry of Agriculture and Farmers Welfare and is executed through state agencies like NAFED or state marketing boards. When market prices fall, the government intervenes by purchasing the produce at a predetermined price, thereby stabilizing the market and preventing distress sales. The MIF is particularly relevant during harvest seasons when gluts occur. For competitive exams like UPSC and state civil services, understanding MIF is important for questions on agricultural price policy and farmer welfare schemes. It reflects the government's commitment to supporting farmers beyond the MSP framework.
MIF का फुल फॉर्म
बाजार हस्तक्षेप कोष
Example
The Centre recently approved the release of ₹150 crore under the Market Intervention Fund for procurement of apples in Himachal Pradesh to benefit apple growers facing low market prices.
MIF — frequently asked questions
What is the full form of MIF?
The full form of MIF is Market Intervention Fund, a government scheme that provides price support to farmers for perishable agricultural commodities.
How does Market Intervention Fund work in India?
When market prices fall below a set threshold, the government through agencies like NAFED purchases the produce at a predetermined price to stabilize prices and compensate farmers.
What is the difference between MIF and MSP?
MIF is for perishable crops not covered under MSP and is implemented as a temporary measure during price crashes, while MSP is a fixed minimum price announced pre-sowing for major crops.