agriculture sector subsidy & food processing section 9 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
- India is the 4th largest producer of Natural Rubber in the world
- India in the world, shares more than 8.0% in the Natural Rubber Production.
(a) Both 1 and 2
(b) 1 only
(c) 2 only
(d) Neither 1 nor 2
The correct answers to the above question in:
Answer: (a)
India is the fourth largest producer, of natural rubber and fifth largest consumer of natural rubber and synthetic rubber together in the world. India in the world, shares more than 8.0% in the Natural Rubber Production.
Practice Agriculture Sector, Subsidy and Food Processing (agriculture sector subsidy & food processing section 9) Online Quiz
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Read more agriculture sector subsidy and food processing Based Indian Economy Questions and Answers
Question : 1
In the context of the food and nutritional security of India, enhancing the ‘Seed Replacement Rates’ of various crops helps in achieving the food production targets of the future. But what is/ are the constraints/ constraints in its wider/greater implementation?
- There is no National Seeds Policy in place.
- There is no participation of private sector seed companies in the supply of quality seeds of vegetables and planting materials of horticultural crops.
- There is a demand-supply gap regarding quality seeds in the case of low value and high volume crops.
a) 2 and 3
b) 1 and 2
c) 3 only
d) None of these
Answer »Answer: (c)
Question : 2
The term ‘under-recovery' was recently in the news, is related to which of the following?
a) Government giving exemptions on certain types of taxes
b) Government spending more on the subsidies than the budgeted amount
c) Cost incurred by PSU’s in providing subsidies
d) Central government getting less repayment on loans given to States
Answer »Answer: (c)
Let us understand with an example:
Suppose the imported LPG cylinder price (i.e. international market price) is Rs. 800/cylinder. And govt announced that it will give Rs. 300/cylinder as a subsidy through Direct Benefit Transfer (DBT).
So, the consumers will purchase the cylinder from Oil Marketing Companies (OMC) like IOCL/BPCL at Rs. 800/cylinder and government will transfer Rs. 300/cylinder in consumers account.
Now, if the international price increases to Rs. 900/cylinder, then there are three options:
- Consumers pay Rs. 900/cylinder and government transfer Rs. 400/cylinder in the account as DBT. But it will increase the overall subsidy bill of the government, which government don’t like
- Consumers pay Rs. 900/cylinder and the government still transfer Rs. 300/cylinder in consumers account, but it will increase the price per cylinder by Rs. 600 (=Rs. 900 - Rs. 300) to the consumer from the earlier price of Rs. 500 (=Rs. 800- Rs. 300). For political and social reasons, govt. may not like this also.
- Government forces OMCs (LPG cylinders are supplied through OMCs) to sell the cylinder still at Rs. 800/cylinder (a kind of forced regulation), So consumers pay Rs. 800/cylinder and they will get Rs. 300 in account from Govt. This will not increase govt. subsidy bill and consumers will also be happy. But it impacts the finances of OMCs.
If the government will choose the 3) option, then for OMCs it is a loss of Rs. 100/ cylinder. And this is called "Under-recovery" per cylinder.
Generally, because of political and social compulsions govt. uses this 3) option leading to huge under-recoveries by OMCs. Till the time price of crude/gas is benign/moderate, the under-recovery may be very less or nil but when it increases, the under-recovery of OMCs increases.
Question : 3
Rashtriya Krishi Vikas Yojna was launched in the year?
a) 2004
b) 2006
c) 2003
d) 2007
Answer »Answer: (d)
Rashtriya Krishi Vikas Yojana was launched in August 2007 as a part of the 11th Five Year Plan by the Government of India.
Launched under the aegis of the National Development Council, it seeks to achieve 4% annual growth in agriculture through the development of Agriculture and its allied sectors during the period under the 11th Five Year Plan (2007–11).
Question : 4
Which of the following is the largest fertiliser producer in India?
a) Indian Farmers Fertiliser Corporation Limited
b) Gujarat State Fertilizers & Chemicals Ltd.
c) Coromande International Ltd.
d) Rashtriya Chemicals & Fertilizers Ltd.
Answer »Answer: (a)
Indian Farmers Fertiliser Co-operative Limited (IFFCO) was registered on November 3, 1967 as a Multi-unit Co-operative Society.
Question : 5
Consider the following statements:
- Saumitra Chaudhuri Committee has been appointed to recommend revisions to Consumer Price Index
- Average annual growth of the agriculture sector in the Eleventh Five Year Plan was 5.3%.
a) 1 and 2
b) 1 only
c) 2 only
d) None
Answer »Answer: (d)
Saumitra Chaudhuri Committee has been appointed to recommend revisions to Wholesale Price Index. Average annual growth of the agriculture sector in the Eleventh Five Year plan was 3.3%.
Question : 6
The Bonded Labour System (Abolition) Act was legislated in
a) 1976
b) 1974
c) 1977
d) 1978
Answer »Answer: (a)
The Bonded Labour System (Abolition) Act, 1976 was enacted to provide for the abolition of bonded labour system with a view to prevent the economic and physical exploitation of the weaker sections of the society.
It freed all the bonded labourers from bondage with simultaneous liquidation of their debts.
It made the practice of bondage a cognisable offence punishable by law. The Act is being administered and implemented by the Ministry of Labour and the State governments concerned.
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