Sthaapna – Static MCQs for GS – Indian Economy- Day 1

Which of the following are the objective/s of Minimum Support Price Policy of Government of India?

1) To protect the farmers from distress sales
2) To procure food grains for public distribution
3) To influence the market prices of various agricultural commodities

Select the correct code:

Consider the following statements regarding Minimum Support Price (MSP):

1) It is calculated only on the basis of the cost of production of various crops
2) It is announced by the Commission for Agricultural Costs and Prices (CACP) after the harvesting season
3) It is always at least 50% higher than the cost of production

Which of the above statements are correct?

Match the Following:

Which of the following statements are false regarding Minimum Support Price Policy of India?

1) The benefits of MSP are equally enjoyed by all farmers of India
2) Calculation of MSP takes into account all the differences in production costs of commodities in different regions
3) MSP is announced for all cereal and non cereal crops

Select the correct code

In the context of Minimum Support Price (MSP), consider the following statements:

1) The National Commission for Farmers has recommended MSP to be atleast 50% more than the weighted average cost of production
2) As per the Budget 2018-19, MSP for all crops would be 1.5 times of the price as announced in the previous year

Which of the above statements are incorrect?