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Consider the following statements:
1. Minimum Support Price (MSP) may be both lower or higher than the prevailing market price of the particular crop.
2. All food grain procurement operations in India are undertaken by the Food Corporation of India (FCI).
Which of the above statements is/are incorrect?
  • a)
    1 only
  • b)
    2 only
  • c)
    Both 1 and 2
  • d)
    Neither 1 nor 2
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
Consider the following statements:1. Minimum Support Price (MSP) may b...
MSP can be anything that the government considers that the farmers should fairly get. This is to help them get fair remuneration for their produce and to motivate or demotivate them to produce a particular crop. Hence it can be either lower or higher than the market price. For e.g. if the government wishes to discourage rice farming, it would lower the MSP of rice.
The procurement system decentralization was started in 1997 where states play a very important role in the supply chain. Not all procurements are done by FCI. State cooperative agencies and other state-level distribution agencies also play a crucial role.
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Consider the following statements:1. Minimum Support Price (MSP) may be both lower or higher than the prevailing market price of the particular crop.2. All food grain procurement operations in India are undertaken by the Food Corporation of India (FCI).Which of the above statements is/are incorrect?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?
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Consider the following statements:1. Minimum Support Price (MSP) may be both lower or higher than the prevailing market price of the particular crop.2. All food grain procurement operations in India are undertaken by the Food Corporation of India (FCI).Which of the above statements is/are incorrect?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer? for Current Affairs 2024 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about Consider the following statements:1. Minimum Support Price (MSP) may be both lower or higher than the prevailing market price of the particular crop.2. All food grain procurement operations in India are undertaken by the Food Corporation of India (FCI).Which of the above statements is/are incorrect?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Current Affairs 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements:1. Minimum Support Price (MSP) may be both lower or higher than the prevailing market price of the particular crop.2. All food grain procurement operations in India are undertaken by the Food Corporation of India (FCI).Which of the above statements is/are incorrect?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?.
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