[Mission 2022] QUIZ – 2022: INSIGHTS STATIC QUIZ, 01 April 2022 – Economy

Solution: c)

About NAFED:

• National Agricultural Cooperative Marketing Federation of India Ltd. (NAFED), established in 1958, is registered under the Multi State Co-operative Societies Act.
• Nafed was setup with the object to promote Co-operative marketing of Agricultural Produce to benefit the farmers.
• The objectives of the NAFED shall be to organize, promote and develop marketing, processing and storage of agricultural, horticultural and forest produce, distribution of agricultural machinery, implements and other inputs, undertake inter-state, import and export trade etc.
• It functions under Ministry of Agriculture.

The National Agricultural Cooperative Marketing Federation of India (NAFED), is the nodal procurement agency for pulses (like Food Corporation of India, or FCI, is for rice and wheat).

Solution: d)

‘C2’ is a more comprehensive cost that factors in rentals and interest forgone on owned land and fixed capital assets, on top of A2+FL.

CACP reckons only A2+FL cost for return. However, C2 costs are used by CACP primarily as benchmark reference costs (opportunity costs) to see if the MSPs recommended by them at least cover these costs in some of the major producing States.

If we implement the principle of C2, the MSP of paddy will increase much higher than that of wheat.

Solution: d)

WTO’s Agreement on Agriculture:

The Agreement on Agriculture (AoA) is an international treaty of the World Trade Organization. It was negotiated during the Uruguay Round of the General Agreement on Tariffs and Trade, and entered into force with the establishment of the WTO on January 1, 1995.

It is aimed to remove trade barriers and to promote transparent market access and integration of global markets.

The WTO’s Agriculture Committee oversees implementation of the Agreement and provides a forum for members to address related concerns.

Solution: c)

The MSP is now applicable on 23 farm commodities: 7 cereals (paddy, wheat, maize, bajra, jowar, ragi and barley), 5 pulses (chana, arhar, moong, urad and masur), 7 oilseeds (groundnut, soyabean, rapeseed-mustard, sesamum, sunflower, nigerseed and safflower) and 4 commercial crops (sugarcane, cotton, copra and raw jute).

The marketed surplus ratio for different crops is estimated to range from below 50% for ragi and 65-70% for bajra (pearl-millet) and jowar (sorghum) to 75% for wheat, 80% for paddy, 85% for sugarcane, 90% for most pulses, and 95%-plus for cotton, jute, soyabean and sunflower.

The value of milk and milk products alone is more than that of all cereals and pulses combined.

Solution: d)

As a part of the Atma Nirbhar Bharat Abhiyan stimulus package, a ` 15000 crores Animal Husbandry Infrastructure Development Fund (AHIDF) has been set up.

OBJECTIVES:

• To help increasing of milk and meat processing capacity and product diversification thereby providing greater access for unorganized rural milk and meat producers to organized milk and meat market.
• To make available increased price realization for the producer.
• To make available quality milk and meat products for the domestic consumer.
• To fulfill the objective of protein enriched quality food requirement of the growing population of the country and prevent malnutrition in one of the highest malnourished children population in the world.
• Develop enterpreneurship and generate employment.
• To promote exports and increase the export contribution in the milk and meat sector.
• To make available quality concentrated animals feed to the cattle, buffalo, sheep, goat, pig and poultry to provide balanced ration at affordable prices.