Question
Which one among the following Agricultural Sectors is covered under the Market Intervention Scheme (MIS) of the Indian Government?
Answer: Option C
Answer: (c)
Government implements a Market Intervention Scheme (MIS) at the request of a State/UT Government for the procurement of agricultural and horticultural commodities not covered under the Price Support Scheme.
The MIS is implemented in order to protect the growers of these commodities from making distress sales in the event of the bumper crop when the prices tend to fall below the economic level/cost of production.
Losses, if any, incurred by the procuring agencies are shared by the Central Government and the concerned State Government on a 50:50 basis (75:25 in the case of the North-Eastern States).
However, the amount of loss to be shared between the Central Government and the concerned State Government is restricted to 25% of the value of procurement. Profit, if any, earned by the procuring agencies are retained by them.
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Answer: (c)
Government implements a Market Intervention Scheme (MIS) at the request of a State/UT Government for the procurement of agricultural and horticultural commodities not covered under the Price Support Scheme.
The MIS is implemented in order to protect the growers of these commodities from making distress sales in the event of the bumper crop when the prices tend to fall below the economic level/cost of production.
Losses, if any, incurred by the procuring agencies are shared by the Central Government and the concerned State Government on a 50:50 basis (75:25 in the case of the North-Eastern States).
However, the amount of loss to be shared between the Central Government and the concerned State Government is restricted to 25% of the value of procurement. Profit, if any, earned by the procuring agencies are retained by them.
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