Question : The minimum support price for food grains was introduced in the year
Option 1: 1944
Option 2: 1964
Option 3: 1974
Option 4: 1954
Correct Answer: 1974
Solution : The correct option is 1974
At the beginning of the sowing season for some crops, the Government of India announces the minimum support prices based on the recommendations of the Commission for Agricultural Costs and Prices (CACP). However, by the middle of 1973–1974, the government had introduced the minimum support price and the purchase price, two distinct types of administered prices.
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