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With reference to Market Intervention Scheme (MIS), consider the following statements:
1. The objective of this scheme is to promote the domestic production of those food crops that India imports from
abroad.
2. Under the MIS, a pre-determined quantity at a fixed Market Intervention Price (MIP) is procured by NAFED as
the central agency.
Which of the statements given above is/are correct?
1. The objective of this scheme is to promote the domestic production of those food crops that India imports from
abroad.
2. Under the MIS, a pre-determined quantity at a fixed Market Intervention Price (MIP) is procured by NAFED as
the central agency.
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?
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Most Upvoted Answer
With reference to Market InterventionScheme (MIS), consider the follow...
- The Market Intervention Scheme (MIS) is a price support mechanism implemented at the request of state governments for the procurement of perishable and horticultural commodities in the event of a fall in market prices. Hence statement 1 is not correct.
- Its objective is to protect the growers of these horticultural/agricultural commodities from making distress sales in the event of a bumper crop. It is implemented when there is at least a 10% increase in production or a 10% decrease in the ruling rates over the previous normal year.
- Under the MIS, a pre-determined quantity at a fixed Market Intervention Price (MIP) is procured by NAFED as the central agency. The area of operation is restricted to the concerned state only. Hence statement 2 is correct.
- Proposal of MIS is approved on the specific request of State/UT Government, if they are ready to bear 50% loss (25% in case of North-Eastern States), if any, incurred on its implementation.
- Under MIS, funds are not allocated to the States. Instead, the central share of losses as per the guidelines of MIS is released to the State Governments/UTs, for which MIS has been approved based on specific proposals received from them.
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Community Answer
With reference to Market InterventionScheme (MIS), consider the follow...
Statement 1: The objective of this scheme is to promote the domestic production of those food crops that India imports from abroad.
Statement 2: Under the MIS, a pre-determined quantity at a fixed Market Intervention Price (MIP) is procured by NAFED as the central agency.
Explanation:
Market Intervention Scheme (MIS):
The Market Intervention Scheme (MIS) is a price support mechanism implemented by the Government of India to provide support to farmers by ensuring remunerative prices for their produce. It aims to protect farmers from distress sales and to promote domestic production of certain food crops.
Statement 1: The objective of this scheme is to promote the domestic production of those food crops that India imports from abroad.
This statement is incorrect. The objective of the Market Intervention Scheme (MIS) is not specifically to promote domestic production of crops that India imports from abroad. Rather, the scheme aims to provide support to farmers by assuring them of a minimum support price (MSP) for their produce. The MSP is announced by the government and is higher than the market price to incentivize farmers to produce more. The MIS is implemented for various crops based on their market conditions and the need for price support.
Statement 2: Under the MIS, a pre-determined quantity at a fixed Market Intervention Price (MIP) is procured by NAFED as the central agency.
This statement is correct. Under the Market Intervention Scheme (MIS), the National Agricultural Cooperative Marketing Federation of India (NAFED) acts as the central agency responsible for the procurement of crops. The government sets a pre-determined quantity for procurement, and NAFED procures this quantity at a fixed Market Intervention Price (MIP). The MIP is the minimum price at which the government buys the produce from the farmers to support their income.
Therefore, only statement 2 is correct. The objective of the MIS is to provide price support to farmers, and NAFED procures a pre-determined quantity at a fixed MIP as the central agency.
Statement 2: Under the MIS, a pre-determined quantity at a fixed Market Intervention Price (MIP) is procured by NAFED as the central agency.
Explanation:
Market Intervention Scheme (MIS):
The Market Intervention Scheme (MIS) is a price support mechanism implemented by the Government of India to provide support to farmers by ensuring remunerative prices for their produce. It aims to protect farmers from distress sales and to promote domestic production of certain food crops.
Statement 1: The objective of this scheme is to promote the domestic production of those food crops that India imports from abroad.
This statement is incorrect. The objective of the Market Intervention Scheme (MIS) is not specifically to promote domestic production of crops that India imports from abroad. Rather, the scheme aims to provide support to farmers by assuring them of a minimum support price (MSP) for their produce. The MSP is announced by the government and is higher than the market price to incentivize farmers to produce more. The MIS is implemented for various crops based on their market conditions and the need for price support.
Statement 2: Under the MIS, a pre-determined quantity at a fixed Market Intervention Price (MIP) is procured by NAFED as the central agency.
This statement is correct. Under the Market Intervention Scheme (MIS), the National Agricultural Cooperative Marketing Federation of India (NAFED) acts as the central agency responsible for the procurement of crops. The government sets a pre-determined quantity for procurement, and NAFED procures this quantity at a fixed Market Intervention Price (MIP). The MIP is the minimum price at which the government buys the produce from the farmers to support their income.
Therefore, only statement 2 is correct. The objective of the MIS is to provide price support to farmers, and NAFED procures a pre-determined quantity at a fixed MIP as the central agency.
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With reference to Market InterventionScheme (MIS), consider the followingstatements:1. The objective of this scheme is topromote the domestic production ofthose food crops that India imports fromabroad.2. Under the MIS, a pre-determinedquantity at a fixed Market InterventionPrice (MIP) is procured by NAFED asthe central agency.Which of the statements given above is/arecorrect?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 Market InterventionScheme (MIS), consider the followingstatements:1. The objective of this scheme is topromote the domestic production ofthose food crops that India imports fromabroad.2. Under the MIS, a pre-determinedquantity at a fixed Market InterventionPrice (MIP) is procured by NAFED asthe central agency.Which of the statements given above is/arecorrect?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 Market InterventionScheme (MIS), consider the followingstatements:1. The objective of this scheme is topromote the domestic production ofthose food crops that India imports fromabroad.2. Under the MIS, a pre-determinedquantity at a fixed Market InterventionPrice (MIP) is procured by NAFED asthe central agency.Which of the statements given above is/arecorrect?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 Market InterventionScheme (MIS), consider the followingstatements:1. The objective of this scheme is topromote the domestic production ofthose food crops that India imports fromabroad.2. Under the MIS, a pre-determinedquantity at a fixed Market InterventionPrice (MIP) is procured by NAFED asthe central agency.Which of the statements given above is/arecorrect?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?.
With reference to Market InterventionScheme (MIS), consider the followingstatements:1. The objective of this scheme is topromote the domestic production ofthose food crops that India imports fromabroad.2. Under the MIS, a pre-determinedquantity at a fixed Market InterventionPrice (MIP) is procured by NAFED asthe central agency.Which of the statements given above is/arecorrect?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 Market InterventionScheme (MIS), consider the followingstatements:1. The objective of this scheme is topromote the domestic production ofthose food crops that India imports fromabroad.2. Under the MIS, a pre-determinedquantity at a fixed Market InterventionPrice (MIP) is procured by NAFED asthe central agency.Which of the statements given above is/arecorrect?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 Market InterventionScheme (MIS), consider the followingstatements:1. The objective of this scheme is topromote the domestic production ofthose food crops that India imports fromabroad.2. Under the MIS, a pre-determinedquantity at a fixed Market InterventionPrice (MIP) is procured by NAFED asthe central agency.Which of the statements given above is/arecorrect?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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