agriculture sector subsidy & food processing section 5 MCQ Questions & Answers Detailed Explanation

Answer: (b)

NABARD was established in Sixth Five Year Plan.

Answer: (b)

The Commission of Agricultural Costs & Prices (CACP since 1985, earlier named as Agricultural Prices Commission) came into existence in January 1965.

It is mandated to recommend minimum support prices (MSPs) to incentivize the cultivators to adopt modern technology and raise productivity and overall grain production in line with the emerging demand patterns in the country.

Answer: (a)

The Blue Revolution is similar to the Green Revolution only that it deals with aquaculture, fish and water preservation for human use.

Answer: (c)

Farm Income Insurance Scheme was designed to provide a comprehensive crop insurance cover to farmers against loss in farm income due to fluctuations in yield and price, the scheme was adopted as a pilot project in respect of paddy and wheat at a block each in 25 States.

Implemented by the National Insurance Company, the scheme carried a subsidy of 75 per cent on the premium, given by the Union Government in respect of small and marginal farmers and 50 per cent in respect of others.

Answer: (b)

Nutrient Based Subsidy (NBS) Policy on decontrolled Phosphatic and Potassic fertilizer came into effect from 1st April 2010.

It has been decided to fix the subsidy on the nutrients

1. ‘N’ - Nitrogen,
2. ‘P’ - Phosphorus,
3. ‘K’ - Potash and
4. ‘S’ – Sulphur contents.

Answer: (b)

Milk and milk products exhibited high rates of inflation recently.

Pulses, MFE, and milk and milk products which together constituted around 30 per cent of the total food expenditure in 2009-10 (2004-05=100, as per the 66th NSSO Round) were responsible for around 42 per cent of food inflation during the latter period.

This signifies that protein sources of food, both plant and animal, have emerged as an important driver of food inflation in the recent periods.