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Consider the following statements:
1. The National Mission on Edible Oil-Oil Palm (NMEO-OP) is a Centrally Sponsored Scheme.
2. Under the NMEO-OP scheme oil palm farmers will be provided financial assistance and will get remuneration under a price and viability formula.
Which of the 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 'C'. Can you explain this answer?
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Verified Answer
Consider the following statements:1. The National Mission on Edible Oi...
- National Mission on Edible Oil-Oil Palm (NMEO-OP) is a new Centrally Sponsored Scheme. It is proposed to have an additional 6.5 lakh hectares for palm oil by 2025-26. Hence, statement 1 is correct.
- It will involve raising the area under oil palm cultivation to 10 lakh hectares by 2025-26 and 16.7 lakh hectares by 2029-30.
- Oil palm farmers will be provided financial assistance and will get remuneration under a price and viability formula. Hence, statement 2 is correct.
- The Viability Formula is a Minimum Support Price-type mechanism and the government will fix this at 14.3% of Crude Palm Oil (CPO) price.
- It will eventually go up to 15.3%.
- Another focus area of the scheme is to substantially increase the support of inputs/interventions.
- Special assistance will be given to replant old gardens for their rejuvenation.
Most Upvoted Answer
Consider the following statements:1. The National Mission on Edible Oi...
Explanation:
1. Centrally Sponsored Scheme:
- The statement that the National Mission on Edible Oil-Oil Palm (NMEO-OP) is a Centrally Sponsored Scheme is correct. This means that the scheme is funded by both the Central and State governments, with the majority of the funding coming from the Central government.
2. Financial Assistance and Price Formula:
- Under the NMEO-OP scheme, oil palm farmers will indeed be provided with financial assistance. This assistance is aimed at supporting the farmers in cultivating oil palm, which is crucial for increasing domestic production of edible oil.
- Additionally, farmers will receive remuneration under a price and viability formula. This formula ensures that farmers receive fair compensation for their efforts and investments in oil palm cultivation.
Therefore, both statements are correct. The NMEO-OP scheme plays a crucial role in promoting oil palm cultivation in India, providing financial support to farmers and ensuring fair remuneration through a price and viability formula.
1. Centrally Sponsored Scheme:
- The statement that the National Mission on Edible Oil-Oil Palm (NMEO-OP) is a Centrally Sponsored Scheme is correct. This means that the scheme is funded by both the Central and State governments, with the majority of the funding coming from the Central government.
2. Financial Assistance and Price Formula:
- Under the NMEO-OP scheme, oil palm farmers will indeed be provided with financial assistance. This assistance is aimed at supporting the farmers in cultivating oil palm, which is crucial for increasing domestic production of edible oil.
- Additionally, farmers will receive remuneration under a price and viability formula. This formula ensures that farmers receive fair compensation for their efforts and investments in oil palm cultivation.
Therefore, both statements are correct. The NMEO-OP scheme plays a crucial role in promoting oil palm cultivation in India, providing financial support to farmers and ensuring fair remuneration through a price and viability formula.
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Consider the following statements:1. The National Mission on Edible Oil-Oil Palm (NMEO-OP) is a Centrally Sponsored Scheme.2. Under the NMEO-OP scheme oil palm farmers will be provided financial assistance and will get remuneration under a price and viability formula.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?
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Consider the following statements:1. The National Mission on Edible Oil-Oil Palm (NMEO-OP) is a Centrally Sponsored Scheme.2. Under the NMEO-OP scheme oil palm farmers will be provided financial assistance and will get remuneration under a price and viability formula.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. 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 National Mission on Edible Oil-Oil Palm (NMEO-OP) is a Centrally Sponsored Scheme.2. Under the NMEO-OP scheme oil palm farmers will be provided financial assistance and will get remuneration under a price and viability formula.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. 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 National Mission on Edible Oil-Oil Palm (NMEO-OP) is a Centrally Sponsored Scheme.2. Under the NMEO-OP scheme oil palm farmers will be provided financial assistance and will get remuneration under a price and viability formula.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
Consider the following statements:1. The National Mission on Edible Oil-Oil Palm (NMEO-OP) is a Centrally Sponsored Scheme.2. Under the NMEO-OP scheme oil palm farmers will be provided financial assistance and will get remuneration under a price and viability formula.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. 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 National Mission on Edible Oil-Oil Palm (NMEO-OP) is a Centrally Sponsored Scheme.2. Under the NMEO-OP scheme oil palm farmers will be provided financial assistance and will get remuneration under a price and viability formula.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. 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 National Mission on Edible Oil-Oil Palm (NMEO-OP) is a Centrally Sponsored Scheme.2. Under the NMEO-OP scheme oil palm farmers will be provided financial assistance and will get remuneration under a price and viability formula.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
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