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Consider the following statements.


1. The Market Intervention Scheme (MIS) is similar to MSP.


2. It is implemented on the request of state governments for procurement of perishable and horticultural commodities in the event of fall in market prices.


3. The scheme is implemented when there is a 10% decrease in growth of the Farm sector over the previous normal year in the states.


Which of these statements is/are correct?

  • a)
    1 and 2 Only

  • b)
    2 and 3 Only

  • c)
    1 and 3 Only

  • d)
    All of them

Correct answer is option 'A'. Can you explain this answer?
Verified Answer
Consider the following statements.1. The Market Intervention Scheme (M...
  • The Market Intervention Scheme (MIS) is similar to MSP, which is implemented on the request of state governments for procurement of perishable and horticultural commodities in the event of fall in market prices.
  • The scheme is implemented when there is at least 10 per cent increase in production or a 10 per cent decrease in the ruling rates over the previous normal year.
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Most Upvoted Answer
Consider the following statements.1. The Market Intervention Scheme (M...
Explanation:

1. The Market Intervention Scheme (MIS) is similar to MSP:
- This statement is correct. MIS and MSP both aim to provide support to farmers by ensuring a minimum price for their produce. While MSP is for cereals and pulses, MIS is specifically for perishable and horticultural commodities.

2. It is implemented on the request of state governments for procurement of perishable and horticultural commodities in the event of fall in market prices:
- This statement is also correct. MIS is implemented by the central government upon the request of state governments to procure perishable and horticultural commodities at a minimum support price in case of a significant fall in market prices.

3. The scheme is implemented when there is a 10% decrease in growth of the Farm sector over the previous normal year in the states:
- This statement is incorrect. The implementation of MIS is not based on a decrease in growth of the farm sector. It is primarily triggered by a significant fall in market prices of perishable and horticultural commodities.
Therefore, the correct answer is Option A: 1 and 2 Only.
Community Answer
Consider the following statements.1. The Market Intervention Scheme (M...
1 and 2
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Consider the following statements.1. The Market Intervention Scheme (MIS) is similar to MSP.2. It is implemented on the request of state governments for procurement of perishable and horticultural commodities in the event of fall in market prices.3. The scheme is implemented when there is a 10% decrease in growth of the Farm sector over the previous normal year in the states.Which of these statements is/are correct?a)1 and 2 Onlyb)2 and 3 Onlyc)1 and 3 Onlyd)All of themCorrect answer is option 'A'. Can you explain this answer?
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