MCQ for economy-8-5th-january-2023

Consider the following statements with reference to the Minimum Support Price (MSP) regime in India:

1. MSPs have statutory backing under the Agricultural Produce (Grading and Marking) Act, 1937.

2. It is fixed at 1.5 times the cost of production for every crop covered under the scheme.

3. Foodgrain procurement is distributed equitably across all states.

Which of the statements given above is/are not correct?

The term ‘Participatory Guarantee System for India (PGS-India)’, recently seen in news is related to

Consider the following statements with reference to Negotiable Warehouse Receipts (NWRs):

1. It enables the transfer of ownership of a warehoused commodity without the need to deliver the physical commodity.

2. It is regulated by the Securities and Exchange Board of India.

3. It can be used as collateral for loans from banks.

Which of the statements given above is/are correct?

When prices of a commodity increase during a season of scarcity, more of it is cultivated in the next cropping season leading to a problem of plenty, eventually leading to crash in prices of that commodity. This phenomenon is known as

Consider the following statements with respect to the Market intervention Scheme:

1. It is a price fixation scheme only for crops covered under the Price Support Scheme.

2. The commodities are procured by the agencies designated by the State Government.

Which of the statements given above is/are correct?

With reference to contract farming, consider the following statements:

1. It is a pre-harvest agreement between food processing units and farmer organisations to buy the produce at a specific price in future.

2. It is regulated under the Model Agricultural Produce Market Committee (APMC) Act, 2003 in India.

Which of the statements give above is/are correct?

Which of the following was the primary objective of the Ashok Dalwai Committee set up by the government in 2016?

With reference to the Fair and Remunerative Prices (FRP) for sugarcane, consider the following statements:

1. The price paid to farmers for sugarcane is linked to the profit generated by sugar mills.

2. It is determined on the basis of recommendations of Commission for Agricultural Costs and Prices.

Which of the statements given above is/are correct?

With reference to the Pradhan Mantri Annadata Aay Sanrakshan Abhiyan (PM-AASHA), consider the following statements:

1. It is an umbrella scheme to provide insurance cover to farmers for post-harvest losses.

2. Under it, States can either choose Price Support Scheme or Price Deficiency Payment Scheme for each crop.

3. States can involve private stockist for procurement of oilseeds.

Which of the statements given above are correct?

Which of the following institutions are involved in the National Agriculture Infra Financing Facility?

1. Scheduled Cooperative Banks

2. Regional Rural Banks (RRBs)

3. Small Finance Banks

4. Non-Banking Financial Companies (NBFCs) 

Select the correct answer using the code given below: