Q14. Which of the following statements with respect to Minimum Support Price (MSP) is incorrect?

a) It is a form of market intervention by the Government of India to insure agricultural producers against any sharp fall in farm prices.

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b) It is announced by the Government of India at the beginning of the sowing season for all the crops.

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c) It is based on the recommendations of the Commission for Agricultural Costs and Prices (CACP).

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d) Both b) and c)

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Solution

The correct option is B
b) It is announced by the Government of India at the beginning of the sowing season for all the crops.

The minimum support prices are announced by the Government of India at the beginning of the sowing season for certain crops on the basis of the recommendations of the Commission for Agricultural Costs and Prices (CACP).

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Similar questions

Q4. Which of the following statements about minimum support price (MSP) is not correct

Q27. Consider the following statements with regard to Minimum Support Price (MSP).

1. MSP is price fixed by the Commission for Agricultural Costs and Prices (CACP).

2. The change in input prices is not included while considering the MSP.

Which of the above statement(s) is/are correct?

Q. With reference to the Minimum Support Price (MSP), consider the following statements: (M)

Select the correct answer using the codes given below:

1 only
1 and 2 only
1, 2 and 3
None of the above.

Q. Minimum Support Price(MSP) is decided by the ________.

Q16. Consider the following statements about Minimum Support Prices (MSP):

1. MSP is the price at which government purchases crops from the farmers, whatever may be the price for the crops.

2. The minimum support prices are announced by the Government of India at the beginning of the sowing season for certain crops on the basis of the recommendations of the Ministry of Agriculture.

Which of the above statements are correct?

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