agriculture sector subsidy & food processing section 6 MCQ Questions & Answers Detailed Explanation
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The following question based on Agriculture Sector, Subsidy and Food Processing topic of indian economy mcq
(a) Fifth Five Year Plan
(b) Fourth Five Year Plan
(c) Sixth Five Year Plan
(d) Eighth Five Year Plan
The correct answers to the above question in:
Answer: (c)
National Bank for Agriculture and Rural Development (NABARD) is an apex development bank in India having headquarters based in Mumbai.
It was established on 12 July 1982 in the sixth five-year plan by a special act by the parliament and its main focus was to uplift rural India by increasing the credit flow for elevation of agriculture & rural non-farm sector.
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Read more agriculture sector subsidy and food processing Based Indian Economy Questions and Answers
Question : 1
Consider the following statements :
- Central warehousing corporation is responsible for the construction and running of the godowns for storage of agriculture products.
- Central warehousing corporation of India was established in 1957.
a) 2 only
b) 1 only
c) Both 1 and 2
d) Neither 1 nor 2
Answer »Answer: (c)
CWC is a Warehousing Agency in India, established in 1957. It provides logistics support to the agricultural sector.
CWC is operating 464 Warehouses across the country with a storage capacity of 10.54 million tonnes providing warehousing services for a wide range of products ranging from agricultural produce to sophisticated industrial products.
Question : 2
Consider the following statements about the National Agricultural Insurance Scheme (NAIS)?
- In National Agricultural Insurance Scheme (NAIS), the premium of the insurance for the different crops is the same.
- The National Agricultural Insurance Scheme (NAIS) has no sun-set clause for the premium subsidy provided by the governments.
a) Only 2
b) Only 1
c) Both 1 and 2
d) Neither 1 nor 2
Answer »Answer: (d)
For Kharif crops premium is 3.5% of Sum insured for all Oilseed crops and Bajra and 2.5% for all others food crops including pulses.
For Rabi crops, Premium rates are 1.5% for wheat and 2% for all other food crops including pulses and oilseeds.
The premium subsidy will be phased out on a sunset basis in a period of three to five years subject to review of financial results and the response of farmers at the end of the first year of the implementation of the Scheme.
Question : 3
Consider the following statements about the National Mission for Sustainable Agriculture (NMSA) started in India in 2010
- National Mission for Sustainable Agriculture (NMSA) aims at enhancing food security and protection of resources such as land, water, biodiversity, and genetic resources.
- National Mission for Sustainable Agriculture (NMSA) is one of the very important programme under the National Action Programme on Climate Change.
a) Only 2
b) Only 1
c) Both 1 and 2
d) Neither 1 nor 2
Answer »Answer: (c)
Presently, the threat of climate change poses a challenge for sustainable agricultural growth.
This threat is compounded due to accumulated greenhouse gas emissions in the atmosphere, anthropogenically generated through long-term intensive industrial growth and high consumption lifestyles and preferences.
While the international community is collectively engaging itself to deal with this threat, India needs to evolve a national strategy for adapting to climate change and its variabilities in order to ensure ecological sustainability in its socio-economic developmental priorities.
Thus the National Mission for Sustainable Agriculture (NMSA) was launched in 2008 with the objective of promoting Sustainable Agriculture.
Question : 4
Which of the statement is correct regarding Land Development Banks?
- It provides long-term rural credit for land improvement, soil conservation and other investments of a capital nature.
- LDBs have now been renamed as State Co-operative Agricultural and Rural Development Banks (SCARDBs)
- They raise their funds through long-term debentures offering state government guarantees and refinancing from NABARD.
a) Only II
b) I & II
c) II & III
d) All the above
Answer »Answer: (d)
Land Development Banks (LDBs) provide long-term rural credit for land improvement, soil conservation and other investments of a capital nature. LDBs have now been renamed as State Co-operative Agricultural and Rural Development Banks (SCARDBs).
They raise their funds through long-term debentures offering state government guarantees and refinancing from NABARD.
Question : 5
Consider the following statements :
- Minimum Wages Act is only applicable to the scheduled employments of the centres and the states.
- Minimum Wages Act has allowed discrimination between male and female workers or different minimum wages for them.
a) 2 only
b) 1 only
c) Both 1 and 2
d) Neither 1 nor 2
Answer »Answer: (b)
The Minimum Wages Act, 1948 is an Indian legislation enacted by the Parliament of India for statutory fixing of minimum wages to be paid to skilled and unskilled labours of centre and state. Minimum wages Act does not allow discrimination between male and female workers.
Question : 6
In which five year plan in Indian Economy, the targets for the crop function were not fixed for the first time-
a) Eighth five year plan
b) Ninth five year plan
c) Seventh five year plan
d) Tenth five year plan
Answer »Answer: (d)
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