Multiple Choice Questions on Being a member of the WTO India is bound by the agreements that have been signed and ratified by its........... for Civil Services Exam (CSAT) Preparation

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Indian Economy - Understanding the basics of Indian economic system

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    Being a member of the WTO, India is bound by the agreements that have been signed and ratified by its members, including itself. According to Article 6 of the Agriculture Agreement, providing minimum support prices for agricultural products is considered distorting and is subject to limits. The subsidy arising from 'minimal supports' cannot exceed 10 per cent of the value of agricultural production for developing countries. PDS in India entails minimum support prices and public stockholding of food grains. It is possible that, in some years, the subsidy to producers will exceed 10 per cent of the value of agricultural production.

    What is the crucial message conveyed by the above passage?

    This questions was previously asked in
    Complete-Test, Previous year (2018)

    India should revise its PDS.

    Incorrect Answer

    India should not be a member of WTO.

    Incorrect Answer

    For India, food security collides with trade.

    Correct Answer

    India provides food security to its poor.

    Incorrect Answer
    Explanation:


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