In the context of Indian agriculture, which of the following statements is/are CORRECT?
Select all that apply.
2 marksIndian EconomyAgriculture and the rural economyMSP, procurement and food policyModerateabout 2 min
IIT JAM 2022 Question 39: Agriculture and the rural economy
Answer and worked solution
Answer: (A) and (B)
NABARD was established in 1982 (A), and one aim of the Commission for Agricultural Costs and Prices was to secure remunerative prices for farmers (B), so both are correct.
The APMC Act governs agricultural marketing through regulated mandis, not institutional credit, so (C) is wrong. The National Commission on Agriculture was not chaired by V. M. Dandekar, so (D) is wrong. The correct statements are (A) and (B).
The trap: (C) The APMC Act is related to institutional credit supply in agriculture.
The APMC Act deals with market yards and the marketing of produce; associating it with credit confuses it with the roles of NABARD or cooperative banks.
Agriculture and the rural economy has come up 72 times in 6 exams since 2010.
What this question tests
This question is on MSP, procurement and food policy, part of Agriculture and the rural economy in Indian Economy.
How the state fixes prices, holds stocks and distributes food.
TestStop has 16 past-paper questions on this subtopic.
Question from the IIT JAM 2022 paper. Solutions are TestStop's own. Not affiliated with or endorsed by any examination authority.