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Consider the following statements.
1. Buffer Stock is the stock of foodgrains, namely wheat and rice, procured by the government through the Department of Agriculture
2. The FCI purchases wheat and rice from the farmers in states where there is surplus production
3. The farmers are paid a pre announced price for their crops
Which of the statements/statements 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 'B'. Can you explain this answer?
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Consider the following statements.1. Buffer Stock is the stock of foo...
- Buffer Stock is the stock of foodgrains, namely wheat and rice, procured by the government through the Food Corporation of India (FCI).
- The FCI purchases wheat and rice from the farmers in states where there is surplus production. The farmers are paid a pre- announced price for their crops. This price is called Minimum Support Price (MSP).
- The MSP is declared by the government every year before the sowing season to provide incentives to farmers for raising the production of these crops. The purchased food grains are stored in granaries.
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Consider the following statements.1. Buffer Stock is the stock of foo...
Buffer Stock and its Procurement:
- Statement 1 is correct. Buffer Stock refers to the stock of foodgrains, specifically wheat and rice, that is procured by the government through the Department of Agriculture.
- The purpose of maintaining a buffer stock is to ensure food security and stabilize prices in the market.
- The government procures foodgrains from farmers in surplus production areas and stores them in warehouses.
Procurement by FCI:
- Statement 2 is correct. The Food Corporation of India (FCI) is responsible for purchasing wheat and rice from farmers in states where there is surplus production.
- FCI is a government agency that operates under the Ministry of Consumer Affairs, Food, and Public Distribution.
- It procures foodgrains at a Minimum Support Price (MSP) determined by the government.
Payment to Farmers:
- Statement 3 is incorrect. The farmers are not paid a pre-announced price for their crops.
- Instead, the government announces the MSP for different crops before the sowing season begins.
- The MSP acts as a floor price for agricultural produce, ensuring that farmers receive a remunerative price for their crops.
- While the MSP is announced, it does not guarantee that all farmers will be able to sell their produce at that price, as market forces and procurement mechanisms may vary.
Correct Statements:
- The correct statements are 2 and 3 only, as mentioned in option B.
- The government procures buffer stock through the Department of Agriculture and FCI from surplus production areas.
- However, the payment to farmers is based on the Minimum Support Price (MSP) and not a pre-announced price.
Hence, the correct answer is option B (2 and 3 only).
- Statement 1 is correct. Buffer Stock refers to the stock of foodgrains, specifically wheat and rice, that is procured by the government through the Department of Agriculture.
- The purpose of maintaining a buffer stock is to ensure food security and stabilize prices in the market.
- The government procures foodgrains from farmers in surplus production areas and stores them in warehouses.
Procurement by FCI:
- Statement 2 is correct. The Food Corporation of India (FCI) is responsible for purchasing wheat and rice from farmers in states where there is surplus production.
- FCI is a government agency that operates under the Ministry of Consumer Affairs, Food, and Public Distribution.
- It procures foodgrains at a Minimum Support Price (MSP) determined by the government.
Payment to Farmers:
- Statement 3 is incorrect. The farmers are not paid a pre-announced price for their crops.
- Instead, the government announces the MSP for different crops before the sowing season begins.
- The MSP acts as a floor price for agricultural produce, ensuring that farmers receive a remunerative price for their crops.
- While the MSP is announced, it does not guarantee that all farmers will be able to sell their produce at that price, as market forces and procurement mechanisms may vary.
Correct Statements:
- The correct statements are 2 and 3 only, as mentioned in option B.
- The government procures buffer stock through the Department of Agriculture and FCI from surplus production areas.
- However, the payment to farmers is based on the Minimum Support Price (MSP) and not a pre-announced price.
Hence, the correct answer is option B (2 and 3 only).
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Consider the following statements.1. Buffer Stock is the stock of foodgrains, namely wheat and rice, procured by the government through the Department of Agriculture2. The FCI purchases wheat and rice from the farmers in states where there is surplus production3. The farmers are paid a pre announced price for their cropsWhich of the statements/statements are correct?a) 1 and 2 Onlyb) 2 and 3 Onlyc) 1 and 3 Onlyd) All of themCorrect answer is option 'B'. Can you explain this answer?
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