Economics • Indian EconomyEasy
What is the primary mandate of the 'Commission for Agricultural Costs and Prices (CACP)' in India?
A. To fix the retail market prices of essential food commodities across urban grocery stores
B. To recommend Minimum Support Prices (MSPs) for mandated agricultural crops to incentivize farmers and ensure food security✓ Correct Answer
C. To procure foodgrains directly from farmers through state-level cooperatives
D. To regulate export quotas for agricultural commodities
💡 Solution & Explanation
The Commission for Agricultural Costs and Prices is an expert body that recommends Minimum Support Prices for various agricultural commodities to the central government, balancing farmers' incentives with consumer welfare. It does not directly fix retail market prices or procure foodgrains. The CACP submits recommendations for over twenty mandated crops ahead of the sowing season.
More Economics Indian Economy questions
- In government budgeting in India, how is 'Primary Deficit' calculated?
- In the context of the Indian economy, 'Open Market Operations' refer to which of the following?
- Which of the following bodies is responsible for calculating and publishing the Index of Industrial…
- Which of the following bodies is statutorily responsible for determining the macro-fiscal parameters and…
- The concept of 'Inclusive Growth' as a core objective was officially emphasized most prominently in which…