agriculture sector subsidy & food processing section 8 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
- Rural Infrastructure Development Fund disperses loans to the states to complete the minor irrigation projects.
- Rural Infrastructure Development Fund is managed by the public sector Commercial Banks.
(a) 2 only
(b) 1 only
(c) Both 1 and 2
(d) Neither 1 nor 2
The correct answers to the above question in:
Answer: (b)
Rural Infrastructure Development Fund (RIDF) was instituted in NABARD with an announcement in the Union Budget 1995-96 with the sole objective of giving low-cost fund support to State governments and state-owned corporations for quick completion of ongoing projects relating to medium and minor irrigation, soil conservation, watershed management and other forms of rural infrastructure.
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Read more agriculture sector subsidy and food processing Based Indian Economy Questions and Answers
Question : 1
Which of the following statements are true regarding the Model Contract Farming Act 2018?
- It proposes the establishment of State level Contract Farming Authority
- FPOs are allowed to sign contract farming agreements with bulk buyers
a) Both (i) & (ii)
b) (i) only
c) (ii) only
d) Neither (i) nor (ii)
Answer »Answer: (a)
The Model Agricultural Produce and Livestock Marketing (Promotion and Facilitation) Act, 2017 allowed direct sale by farmers to big retailers i.e. contract farming but left out all the provisions relating to contract farming and paved the way for drafting an exclusive model law on the subject of contract farming.)
Accordingly, Govt. drafted Model Agriculture Produce and Livestock Contract Farming and Services (Promotion & Facilitation) Act, 2018 and has asked States to implement the same. Following are important features:
Setting up of an appropriate and unbiased state-level agency called “Contract Farming (Development and Promotion) Authority” to carry out the assigned mandates under the provisions of contract farming and popularize it among the stakeholders.
No rights, title ownership or possession to be transferred or alienated or vested in the contract farming sponsor etc.
Promoting Farmer Producer Organization (FPOs) / Farmer Producer Companies (FPCs) to mobilize small and marginal farmers to benefit from scales of economy in production and post-production activities. (i.e. FPOs can sign contract farming agreements with big retail chains or bulk buyers)
Question : 2
Consider the following statements about Indian Agriculture:
- The area under foodgrains has declined in the last two decades.
- The average farm size in the country is very small and declining over the years.
a) 2 only
b) 1 only
c) Both 1 and 2
d) Neither 1 nor 2
Answer »Answer: (c)
The area under foodgrains has declined in the last two decades and the average farm size in the country is very small and declining over the years.
Question : 3
Consider the following statements :
- Kisan credit card scheme facilitates the short term credits to farmers.
- Kisan credit card is implemented only by the commercial banks of India.
a) 2 only
b) 1 only
c) Both 1 and 2
d) Neither 1 nor 2
Answer »Answer: (b)
A Kisan Credit Card is a credit card to provide affordable credit for farmers in India.
It was started by the government of India, Reserve Bank of India (RBI), and National Bank for Agricultural and Rural Development (NABARD) in 1998-99 to help farmers access timely and adequate short term credit.
The farmers can use cards to withdraw from most of the banks like commercial banks, cooperative banks and regional rural banks.
Question : 4
The government has powers under the Essential Commodities Act, 1955 (EC Act) to declare a commodity as an essential commodity to ensure its availability to people at fair price. The Commodities covered under the Act include:
- Paper
- Hank Yarn
- Fertilizers
- Petroleum and Petroleum Products
- Cotton and Jute seeds
a) 3, 4 and 5
b) 1, 2 and 3
c) 1, and 4
d) 2, 3, 4 and 5
Answer »Answer: (d)
There are seven broad categories of essential commodities covered by the Act. These are
- Drugs;
- Fertilizer, inorganic, organic or mixed;
- Foodstuffs, including edible oilseeds and oils;
- Hank yarn made wholly from cotton;
- Petroleum and petroleum products;
- Raw jute and jute textile;
(i) seeds of food-crops and seeds of fruits and vegetables;
(ii) seeds of cattle fodder; and
(iii) jute seeds. Recently cotton seed was also included in the list.
Question : 5
Arrange the following in decreasing order in terms of share in disbursement of credit to agriculture :
a) Regional rural banks – commercial banks – cooperative banks
b) Commercial bank – cooperative banks – regional rural banks
c) Cooperative banks – commercial banks – regional rural banks
d) Commercial banks – regional rural banks – cooperative banks
Answer »Answer: (b)
In India, the commercial banks disburse around 60% credit followed by cooperative banks around 30% and RRB and others.
Question : 6
Agriculture sector directly employs one of the following percentages of labour force in India
a) 30%
b) 40%
c) 20%
d) 52%
Answer »Answer: (d)
Agriculture, dairy, horticulture and related occupations alone employ 52 percent of labour in India.
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