Multiple Choice Questions on Consider the following statements In the case of all cereals pulses and oil seeds the procurement at........... for General Knowledge ( All Exams) Preparation

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Multiple Choice Questions

Consider the following statements In the case of all cereals pulses and oil seeds the procurement at...........

Economic and Social Issues Agriculture - Caracterstics and trends
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    Consider the following statements

    1. In the case of all cereals, pulses and oil-seeds, the procurement at Minimum Support Price (MSP) is unlimited in any State/UT of India.
    2. In the case of cereals and pulses, the MSP is fixed in any State/UT at a level to which the market price will never rise.

    Which of the statements given above is/are correct?

    1 only

    Incorrect Answer

    2 only

    Incorrect Answer

    Both 1 and 2

    Incorrect Answer

    Neither 1 nor 2

    Correct Answer
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    Explanation:
    • Under the new PM-AASHA scheme, the existing Price Support Scheme (PSS) will continue for pulses and copra, with Central agencies — including the NAFED and the Food Corporation of India physically procuring the produce whenever the market rates fall below MSP, up to a maximum limit of 25% of the total harvest. While procurement is open-ended, it is not unlimited since our buffer stock is limited.
    • The Centre currently fixes MSPs for 23 farm commodities based on the Commission for Agricultural Costs and Prices (CACP) recommendations. MSP is only an indicative price, and Market price can rise way above or way below MSP given the situation.

    Hence option 4th is correct.

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