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With reference to the Minimum Support Price (MSP) Regime, consider the following statements:
1. These are announced by Commission for Agricultural Costs and Prices (CACP).
2. It is a form of market intervention by the Government of India to insure agricultural producers against any sharp fall in farm prices during bumper production years.
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 'B'. Can you explain this answer?
Most Upvoted Answer
With reference to the Minimum Support Price (MSP) Regime, consider the...
The Union Ministry of Agriculture and Farmers Welfare recently notified a committee to promote zero-budget based farming and to make the MSP more effective and transparent.
  • MSP is a form of market intervention (a policy decision not enforceable by law) by the Government of India to insure agricultural producers against any sharp fall in farm prices during bumper production years.
  • These are announced by the Cabinet Committee on Economic Affairs (Chaired by the Prime Minister of India).
  • The recommendations of the Commission for Agricultural Costs and Prices (CACP) at the beginning of the sowing season for certain crops forms the basis of these announcements.
Hence only statement 2 is correct.
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With reference to the Minimum Support Price (MSP) Regime, consider the following statements:1. These are announced byCommission for Agricultural Costs and Prices (CACP).2. It is a form of market intervention by the Government of India to insure agricultural producers against any sharp fall in farm prices during bumper production years.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 'B'. Can you explain this answer?
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With reference to the Minimum Support Price (MSP) Regime, consider the following statements:1. These are announced byCommission for Agricultural Costs and Prices (CACP).2. It is a form of market intervention by the Government of India to insure agricultural producers against any sharp fall in farm prices during bumper production years.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 'B'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about With reference to the Minimum Support Price (MSP) Regime, consider the following statements:1. These are announced byCommission for Agricultural Costs and Prices (CACP).2. It is a form of market intervention by the Government of India to insure agricultural producers against any sharp fall in farm prices during bumper production years.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 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the Minimum Support Price (MSP) Regime, consider the following statements:1. These are announced byCommission for Agricultural Costs and Prices (CACP).2. It is a form of market intervention by the Government of India to insure agricultural producers against any sharp fall in farm prices during bumper production years.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 'B'. Can you explain this answer?.
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