agriculture sector subsidy & food processing section 1 Practice Questions Answers Test with Solutions & More Shortcuts
Agriculture Sector, Subsidy and Food Processing PRACTICE TEST [10 - EXERCISES]
agriculture sector subsidy & food processing section 1
agriculture sector subsidy & food processing section 2
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agriculture sector subsidy & food processing section 10
Question : 11
Which one of the following is the main objective of the Farm Income Insurance Scheme?
a) To provide income protection to the farmers by insuring market risks
b) To provide income protection to the farmers by insuring production
c) To provide income protection to the farmers by providing the insured seeds to farmers
d) Both (a) and (b)
Answer »Answer: (d)
The Central Government formulated the Farm Income Insurance Scheme (FIIS) during 2003-04. The two critical components of a farmer’s income are yield and price. FIIS targeted these two components through a single insurance policy so that the insured farmer could get a guaranteed income.
The scheme provided income protection to the farmers by insuring production and market risks. The insured farmers were ensured minimum guaranteed income (that is, average yield multiplied by the minimum support price). If the actual income was less than the guaranteed income, the insured would be compensated to the extent of the shortfall by the Agriculture Insurance Company of India.
Initially, the scheme would cover only wheat and rice and would be compulsory for farmers availing crop loans. NAIS (explained in the section below) would be withdrawn for the crops covered under FIIS but would continue to be applicable for other crops.
Question : 12
Consider the following statements :
- Agriculture including allied activities accounted for about 55% employment in the country according to census 2011.
- The growth in agriculture and allied sectors is a necessary condition for inclusive growth in India.
a) 2 only
b) 1 only
c) Both 1 and 2
d) Neither 1 nor 2
Answer »Answer: (c)
The growth in agriculture and allied sectors is a necessary condition for inclusive growth in India.
Agriculture including allied activities accounted for about 55% employment in the country according to census 2011.
Question : 13
Which of the following statements are true regarding “Farmer Producer Organization” (FPO):
- It is a legal entity formed by farmers, fishermen, rural artisans etc.
- NABARD is providing support for promotion of FPOs
a) Both (i) & (ii)
b) (i) only
c) (ii) only
d) Neither (i) nor (ii)
Answer »Answer: (a)
A Producer Organisation (PO) is a legal entity formed by primary producers, viz. farmers, milk producers, fishermen, weavers, rural artisans, craftsmen. A PO can be a producer company, a cooperative society or any other legal form which provides for sharing of profits/benefits among the members.
The main aim of PO is to ensure better income for the producers through an organization of their own. Farmers Producer Organization (FPO) is one type of PO where the members are farmers.
Small Farmers’ Agribusiness Consortium (SFAC) and NABARD are providing support for the promotion of FPOs.
Question : 14
Consider the following statements :
- 20-point programme of the Indian Government includes the measures to uplift the landless workers.
- The 20-point programme was started by Janata Party Government in 1978.
a) 2 only
b) 1 only
c) Both 1 and 2
d) Neither 1 nor 2
Answer »Answer: (b)
The Twenty Point Programme was initially launched by Prime Minister Indira Gandhi in 1975.
The basic objective of the 20-Point Programme was to eradicate poverty and to improve the quality of life of the poor and the underprivileged population of the country including landless workers.
Question : 15
Consider the following statements.
- The loans disbursed to farmers under Kisan Credit Card Scheme are covered under Rashtiya Krishi Bema Yojna of Life Insurance Corporation of India
- The Kisan Credit Card holders are provided personal accident insurance of ` 50,000 for accidental death and ` 25,000 for permanent disability.
a) Both 1 and 2
b) 1 only
c) 2 only
d) Neither 1 nor 2
Answer »Answer: (c)
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Agriculture Sector, Subsidy and Food Processing Shortcuts »
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indian economy MCQ CATEGORIES
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» Introduction to Indian Economy
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» Planning, Economic Development & Five year Plans
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» National Income & Human Development Index
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» Agriculture Sector, Subsidy and Food Processing
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» Industries, Manufacturing & Service Sectors
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» Inclusive growth, Sustainable development and employment
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» Poverty & Unemployment
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» Introduction to Micro Economics
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» Introduction to Macro Economics
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» Macro fundamentals, GDP, Investment, Growth
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» Demand & Supply, Profit Loss, Inflation & Price Index
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» Fiscal Policy, Public Finance and Monetary Policy
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» Money Supply, Banking and Financial Institutions
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» Taxes Types, Methods & Budgeting Process
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» Banking, Security Market & Insurance
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