[Mission 2022] QUIZ – 2022: INSIGHTS STATIC QUIZ, 04 April 2022 – Economy

Solution: b)

The pricing of sugarcane is governed by the statutory provisions of the Sugarcane (Control) Order, 1966 issued under the Essential Commodities Act (ECA), 1955. Prior to 2009-10 sugar season, the Central Government was fixing the Statutory Minimum Price (SMP) of sugarcane and farmers were entitled to share profits of a sugar mill on 50:50 basis. As this sharing of profits remained virtually unimplemented, the Sugarcane (Control) Order, 1966 was amended in October, 2009 and the concept of SMP was replaced by the Fair and Remunerative Price (FRP) of sugarcane.

Fair and Remunerative Prices are determined on the recommendation of the Commission for Agricultural Costs and Prices (CACP) and are approved by the Cabinet Committee on Economic Affairs.

The State Advised Prices (SAP) are announced by key sugarcane producing states which are generally higher than FRP.

Solution: c)

APEDA is mandated with the responsibility of export promotion and development of the following scheduled products:

• • Fruits, Vegetables and their Products;
  • Meat and Meat Products;
  • Poultry and Poultry Products;
  • Dairy Products;
  • Confectionery, Biscuits and Bakery Products;
  • Honey, Jaggery and Sugar Products;
  • Cocoa and its products, chocolates of all kinds;
  • Alcoholic and Non-Alcoholic Beverages; 
  • Cereal and Cereal Products;
  • Groundnuts, Peanuts and Walnuts;
  • Pickles, Papads and Chutneys;
  • Guar Gum; 
  • Floriculture and Floriculture Products; 
  • Herbal and Medicinal Plants.

The Authority replaced the Processed Food Export Promotion Council (PFEPC).

Solution: b)

AGMARK is a certification mark employed on agricultural products in India, assuring that they conform to a set of standards approved by the Directorate of Marketing and Inspection, an agency of the Government of India.

The AGMARK is legally enforced in India by the Agricultural Produce (Grading and Marking) Act of 1937 (and amended in 1986).

The BIS hallmark is a hallmarking system for gold as well as silver jewellery sold in India certifying the purity of the metal. It doesn’t apply for agricultural products. 

Solution: b)

FCI procures the food grains. It does not decide the issue price. Commission for Agricultural Costs and Prices (CACP) only recommends prices to the Cabinet Committee on Economic Affairs. It is the CCEA which finally decides the issue price.

Food Safety and Standards Authority of India (FSSAI) is an autonomous body established under the Ministry of Health & Family Welfare, Government of India.

Buffer stock refers to a reserve of a commodity that is used to offset price fluctuations and unforeseen emergencies. Buffer stock is generally maintained for essential commodities and necessities like food grains, pulses etc.

The concept of buffer stock was first introduced during the IVth Five Year Plan (1969-74).

Solution: d)

Targeted Public Distribution System (TPDS) is operated under the joint responsibility of the Central and the State/Union Territory (UT) Governments. Central Government is responsible for procurement, allocation and transportation of foodgrains upto the designated depots of the Food Corporation of India. The operational responsibilities for allocation and distribution of foodgrains within the States/UTs, identification of eligible beneficiaries, issuance of ration cards to them and supervision over and monitoring of functioning of Fair Price Shops (FPSs) rest with the concerned State/UT Governments.