Which of the following prices is are fixed by the central government 1 Maximum Retail Price MRP 2 Mi...........

Economic Affairs Agricultural Marketing and Prices

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Which of the following prices is/ are fixed by the central government?

1. Maximum Retail Price (MRP)

2. Minimum Support Price (MSP)

3. Fair and Remunerative Price (FRP)

Select the correct answer using the codes given below

2 and 3

1 and 3

1 and 2

1, 2 and 3

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Explanation:

MSP is fixed by the central govt (CG) on the recommendations of the Commission on Agricultural Cost and Prices (CAPC). FRP is fo sugar, which is fixed by the central government.

A maximum retail price (MRP) is a manufacturer calculated price that is the highest price that can be charged for a product sold in India and Bangladesh. However, retailers may choose to sell products for less than the MRP.
Minimum Support Price (MSP) is a form of market intervention by the Government of India to insure agricultural producers against any sharp fall in farm prices.
The Fair and Remunerative Price (FRP) is the minimum price that sugar mills have to pay to sugarcane farmers. It is determined on basis of recommendations of Commission for Agricultural Costs and Prices (CACP) and after consultation with State Governments and other stake-holders.