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Consider the following statements:
1. The Statutory Minimum Price of sugarcane for each sugar season is decided by the respective state governments.
2. Sugar and sugarcane are essential commodities under the Essential Commodities Act.
2. Sugar and sugarcane are essential commodities under the Essential Commodities Act.
Which of the following statements given above is/are correct?
- 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?
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Verified Answer
Consider the following statements:1. The Statutory Minimum Price of su...
Statement 1 is not correct: The pricing of sugarcane is governed by the statutory provisions of the Sugarcane (Control) Order, 1966 issued under the Essential Commodities Act (ECA), 1955. Prior to 2009-10 sugar season, the Central Government was fixing the Statutory Minimum Price (SMP) of sugarcane and farmers were entitled to share profits of a sugar mill on 50:50 basis. As this sharing of profits remained virtually unimplemented, the Sugarcane (Control) Order, 1966 was amended in October 2009 and the concept of SMP was replaced by the Fair and Remunerative Price (FRP) of sugarcane. The Sugarcane (Control) Order of 1966 confers power upon the State government to fix the remunerative/advised price at which sugarcane can be bought or sold, which shall always be higher than the minimum price fixed by the Central government.
Statement 2 is correct: The Essential Commodities Act (ECA) was enacted by the Central Government in 1955 to control and regulate trade and prices of commodities declared essential under the Act. The Act empowers the Central and state governments concurrently to control production, supply and distribut ion of certain commodit ies in view of rising prices. Foodstuff, including edible oil and seeds, vanaspati, pulses, sugarcane and its products like, khandsari and sugar, rice paddy are included in the Act.
Statement 2 is correct: The Essential Commodities Act (ECA) was enacted by the Central Government in 1955 to control and regulate trade and prices of commodities declared essential under the Act. The Act empowers the Central and state governments concurrently to control production, supply and distribut ion of certain commodit ies in view of rising prices. Foodstuff, including edible oil and seeds, vanaspati, pulses, sugarcane and its products like, khandsari and sugar, rice paddy are included in the Act.
Most Upvoted Answer
Consider the following statements:1. The Statutory Minimum Price of su...
Explanation:
Statutory Minimum Price of Sugarcane:
- The statement that "The Statutory Minimum Price of sugarcane for each sugar season is decided by the respective state governments" is incorrect.
- The Statutory Minimum Price of sugarcane for each sugar season is fixed by the Central Government.
- The Fair and Remunerative Price (FRP) for sugarcane is determined by the Central Government based on the recommendations of the Commission for Agricultural Costs and Prices (CACP).
- The FRP is the minimum price that sugar mills have to pay to sugarcane farmers.
- State governments do not have the authority to decide the Statutory Minimum Price of sugarcane.
Sugar and Sugarcane as Essential Commodities:
- The statement that "Sugar and sugarcane are essential commodities under the Essential Commodities Act" is correct.
- Sugar and sugarcane are considered essential commodities under the Essential Commodities Act, which empowers the government to regulate the production, supply, and distribution of essential commodities.
- This classification allows the government to impose stock limits, regulate prices, and take other measures to ensure the availability of these essential goods to the general public.
- The Essential Commodities Act plays a crucial role in preventing hoarding, black marketing, and price manipulation of essential commodities like sugar and sugarcane.
Therefore, the correct answer to the given question is option 'B) 2 only'.
Statutory Minimum Price of Sugarcane:
- The statement that "The Statutory Minimum Price of sugarcane for each sugar season is decided by the respective state governments" is incorrect.
- The Statutory Minimum Price of sugarcane for each sugar season is fixed by the Central Government.
- The Fair and Remunerative Price (FRP) for sugarcane is determined by the Central Government based on the recommendations of the Commission for Agricultural Costs and Prices (CACP).
- The FRP is the minimum price that sugar mills have to pay to sugarcane farmers.
- State governments do not have the authority to decide the Statutory Minimum Price of sugarcane.
Sugar and Sugarcane as Essential Commodities:
- The statement that "Sugar and sugarcane are essential commodities under the Essential Commodities Act" is correct.
- Sugar and sugarcane are considered essential commodities under the Essential Commodities Act, which empowers the government to regulate the production, supply, and distribution of essential commodities.
- This classification allows the government to impose stock limits, regulate prices, and take other measures to ensure the availability of these essential goods to the general public.
- The Essential Commodities Act plays a crucial role in preventing hoarding, black marketing, and price manipulation of essential commodities like sugar and sugarcane.
Therefore, the correct answer to the given question is option 'B) 2 only'.
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Consider the following statements:1. The Statutory Minimum Price of sugarcane for each sugar season is decided by the respective state governments.2. Sugar and sugarcane are essential commodities under the Essential Commodities Act.Which of the following statements given above is/are correct?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. The Statutory Minimum Price of sugarcane for each sugar season is decided by the respective state governments.2. Sugar and sugarcane are essential commodities under the Essential Commodities Act.Which of the following statements given above is/are correct?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. The Statutory Minimum Price of sugarcane for each sugar season is decided by the respective state governments.2. Sugar and sugarcane are essential commodities under the Essential Commodities Act.Which of the following statements given above is/are correct?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. The Statutory Minimum Price of sugarcane for each sugar season is decided by the respective state governments.2. Sugar and sugarcane are essential commodities under the Essential Commodities Act.Which of the following statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?.
Consider the following statements:1. The Statutory Minimum Price of sugarcane for each sugar season is decided by the respective state governments.2. Sugar and sugarcane are essential commodities under the Essential Commodities Act.Which of the following statements given above is/are correct?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. The Statutory Minimum Price of sugarcane for each sugar season is decided by the respective state governments.2. Sugar and sugarcane are essential commodities under the Essential Commodities Act.Which of the following statements given above is/are correct?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. The Statutory Minimum Price of sugarcane for each sugar season is decided by the respective state governments.2. Sugar and sugarcane are essential commodities under the Essential Commodities Act.Which of the following statements given above is/are correct?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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