agriculture sector subsidy & food processing section 3 MCQ Questions & Answers Detailed Explanation

Question : 1

What is correct statement with regard to buffer stocking?

1. It is the practice of holding large stocks by government agencies like Food Corporation of India (FCI) and releasing the stocks in the market to counter price rise
2. The buffer stock also helps to maintain the Public Distribution System (PDS).

a) Both I & II

b) Only I

c) Only II

d) None of the above

Question : 2

Which among the following statements is/are true with regard to WTO membership?

1. All WTO members automatically receive the ‘most favoured nation’ status.
2. Over 75% of WTO members are from developing countries, WTO membership allows them access to developed markets at the lower tariff.

a) Both 1 and 2

b) 1 only

c) 2 only

d) Neither 1 nor 2

Question : 3

Corporation tax in India is levied on income of a company. Which one of the following does not include Corporation tax?

a) Interest on securities

b) Profit from business

c) Capital gain

d) Sale proceed of assets

Question : 4

Which is not a source of agriculture finance in India?

a) Commercial Banks

b) Regional Rural Banks

c) Co-operative societies

d) None of these

Question : 5

FCI stores the food grains procured for the central pool in the following:

1. FCI’s own godowns
2. Central Warehousing godowns
3. State Warehousing godowns
4. Godowns hired from private sector

a) (ii) & (iv)

b) (i) only

c) (i), (ii) & (iii) only

d) All of the above

Question : 6

When was the National Food Security Mission (NFSM) launched in India?

a) Kharif Season (1999–2000)

b) Rabi Season (2007–2008)

c) Rabi Season (1999–2000)

d) Kharif Season (2007–2008)