Question : What type of products ,does CACP recommend minimum support price for?
Option 1: industrial products
Option 2: Agricultural products
Option 3: pharmaceutical products
Option 4: None of the above
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Correct Answer: Agricultural products
Solution : The correct option is Agricultural products.
The Commission for Agricultural Costs and Prices (CACP) operates as an independent entity within India's Ministry of Agriculture and Farmers Welfare, tasked with the crucial role of proposing minimum support prices (MSPs) for a range of vital agricultural products. This includes staple crops such as wheat and rice, essential cash crops like sugarcane and cotton, as well as protein-rich pulses like gram, masur, and moong, along with oilseeds including groundnut, mustard, and sunflower. Additionally, CACP extends its recommendations to encompass barley and jute. Through its recommendations, CACP plays a pivotal role in stabilizing the income of farmers and ensuring the availability of these key agricultural products in the market.
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Question : In the context of agricultural production, MSP refers to:
Option 1: Minimum Selling Price
Option 2: Minimum Support Price
Option 3: Maximum Support Price
Option 4: Maximum Selling Price
Question : The Minimum Support Price (MSP) is a government-announced price for the procurement of which agricultural commodities?
Option 1: Fruits and vegetables
Option 2: Dairy products
Option 3: Pulses and oilseeds
Option 4: Poultry and meat products
Question : The basic economic problem confronting all societies is how to allocate scarce resources between
Option 1: Alternative uses
Option 2: Rich and poor
Option 3: Agricultural sector and industrial sector
Question : The Minimum Support Price (MSP) for agricultural produce in India is announced by which organization?
Option 1: Reserve Bank of India (RBI)
Option 2: Ministry of Agriculture
Option 3: Food Corporation of India (FCI)
Option 4: Ministry of Commerce and Industry
Question : The agro-processing industry involves:
Option 1: Mining agricultural products
Option 2: Providing agricultural services
Option 3: Processing agricultural products
Option 4: Exporting raw agricultural products
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