Question

4. In the recent past union government has come up with “price stabilization fund”. Identify the incorrect statement from the following options with regard to it.

• A. A. The Price Stabilization Fund (PSF) was set up under the Department of Consumer affairs
• B. B. It regulates the price volatility of important agri-horticultural commodities like onion, potatoes and pulses
  
• C. C. Apart from domestic procurement from farmers/wholesale mandis, import may also be undertaken with support from the Fund
  
• D. D. None of the above.

Answer 1

The correct option is A A. The Price Stabilization Fund (PSF) was set up under the Department of Consumer affairs

4. Answer: A

Explanation:

• The Price Stabilization Fund (PSF) was set up in 2014-15 under the Department of Agriculture, Cooperation & Famers Welfare (DAC&FW)
• The PSF scheme was transferred from DAC&FW to the Department of Consumer Affairs (DOCA) from 2016
• Aim is to help regulate the price volatility of important agri-horticultural commodities like onion, potatoes and pulses were also added subsequently