agriculture sector subsidy & food processing section 10 Practice Questions Answers Test with Solutions & More Shortcuts

Answer: (a)

A warehouse receipt is a document that proves ownership of a given commodity that is stored in a recognized location, like a warehouse or a godown. Negotiable warehouse receipts (NWRs) allow the transfer of ownership of a commodity stored in a warehouse without having to deliver the physical commodity.

The government of India enacted the Warehousing (Development & Regulation) Act 2007 under which it has constituted the Warehousing Development and Regulatory Authority (WDRA) under the Ministry of Consumer Affairs, Food and Public Distribution for the implementation of the provisions of the Act.

The main objectives of the Act are to make provisions for the development and regulation of warehouses, negotiability of warehouse receipts and related matters. Any person commencing or carrying on the warehousing business and intending to issue Negotiable Warehouse Receipts (NWRs) has to get the warehouse registered with the Warehousing Development & Regulatory Authority (WDRA).

The WDRA checks the warehouse on various parameters and then issues a booklet containing the NWRs. The warehouse then issues these receipts to customers (farmers and people who have stored their produce in the godowns).

As these receipts are recognized by the government, banks can easily grant loans against them. The farmer gets an officially recognized receipt against which he can take a loan from the bank for further farming activities or alternatively sell his produce to a third person by endorsing the receipt, without even taking physical possession.

As per the Act, as of November 2017, WDRA has notified 123 agricultural commodities and 26 horticulture commodities for issuing NWRs. In September 2017, Government launched the Electronic Negotiable Warehouse Receipts (e-NWRs).

Answer: (a)

The centrally sponsored Command Area Development (CAD) Programme was launched in 1974-75 with the main objectives of improving the utilization of created irrigation potential and optimizing agriculture production and productivity from irrigated agriculture.

Answer: (b)

The growth in Agriculture and Allied sectors is a necessary condition for inclusive growth in India.

Agriculture including Allied activities accounted for about 55% of employment in the country according to census 2011.

Answer: (d)

The Food Corporation of India (FCI) was established in 1965, as the public sector marketing agency responsible for implementing government price policy through procurement and public distribution operations.

It was responsible for securing for the government a commanding position in the food-grain trade.

By 1979, the corporation was operating in all states as the sole agent of the central government in food-grain procurement.

Answer: (d)

The introduction of high-yielding varieties of seeds and the increased use of chemical fertilizers and irrigation are known collectively as the Green Revolution.

The impact of the Green Revolution was felt most in the production of wheat. India saw annual wheat production rise from 10 million tons in the 1960s to 73 million in 2006.