agriculture sector subsidy & food processing section 7 MCQ Questions & Answers Detailed Explanation

Answer: (b)

Livestock contributes 25 per cent of gross value added in the agriculture sector and provides self-employment to about 21 million people.

Growth of livestock output averaged 4.8 per cent per annum during the Eleventh Plan recovering from an average of 3.6 per cent in the Ninth and the tenth Plans.

Answer: (c)

Committee to review the arrangements for institutional credit for agriculture and rural development (CRAFICARD) under the Chairmanship of Shri B. Sivaraman, recommended the formation of the National Bank for Agriculture and Rural Development (NABARD).

The bank came into existence on 12 July 1982. It is limited to the need for agriculture and rural finance.

Answer: (a)

National seed policy was announced in 2002. National seed policy is based on the recommendations of the M.V. Rao committee in 2002.

The Policy is meant to “strengthen the seed industry’’ in view of the liberalisation in the farm sector under the World Trade Organisation. The policy seeks to provide intellectual property protection to stimulate investment in the research and development of new plant varieties.

Answer: (a)

Answer: (c)

The Competition Act, 2002 prohibits anti-competitive agreements, abuse of dominant position by enterprises and regulates combinations (acquisition, acquiring of control and Merger and acquisition), which causes or is likely to cause an appreciable adverse effect on competition within India.

Competition Commission of India was established on 14 October 2003 and became fully functional in May 2009.

It is a body of the Government of India responsible for enforcing the Competition Act, 2002 throughout India and to prevent activities that have an adverse effect on competition in India