Question : Statement 1: The Minimum Support Price (MSP) is determined by the Cabinet Committee on Economic Affairs (CCEA).
Statement 2: The MSP is revised annually to account for changes in input costs and market conditions.
Option 1: Both statements are true.
Option 2: Both statements are false.
Option 3: Statement 1 is true, and statement 2 is false.
Option 4: Statement 1 is false, and statement 2 is true.
Correct Answer: Both statements are true.
Solution : The correct answer is (a) Both statements are true.
Statement 1 is true. The Cabinet Committee on Economic Affairs, which is a committee of the Union Cabinet in India, is responsible for determining the MSP for various agricultural crops. The committee takes into account various factors such as input costs, market conditions, and the overall welfare of farmers while setting the MSP.
Statement 2 is also true. The MSP is revised by the government on an annual basis to reflect changes in input costs, market conditions, and other relevant factors. The revision aims to provide farmers with a fair and remunerative price for their produce, considering the cost of production and prevailing market dynamics.
Therefore, both statements are true. The MSP is determined by the Cabinet Committee on Economic Affairs, and it is revised annually to account for changes in input costs and market conditions.
Question : Statement 1: The Minimum Support Price (MSP) is determined by considering factors such as input costs and market conditions.
Statement 2: The MSP applies to all agricultural crops grown in India.
Question : Statement 1: The Minimum Support Price (MSP) is determined by the Ministry of Agriculture and Farmers Welfare
Statement 2: The MSP ensures a fair price to farmers and protects them from market fluctuations.
Question : Statement 1: The Minimum Support Price (MSP) is a legal entitlement for farmers and is applicable to all crops.
Statement 2: The MSP ensures a minimum profit margin for farmers and protects them from market fluctuations.
Question : Statement 1: Selection is a one-time process.
Statement 2: Selection is an ongoing process.
Option 2: Statement 1 is true, but statement 2 is false.
Option 3: Statement 2 is true, but statement 1 is false.
Option 4: Both statements are false.
Question : Statement 1: Staffing involves hiring employees and neglecting their growth.
Statement 2: Staffing includes processes like training and development.
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