Question

10. Write notes on:
(a) Minimum support price
(b) Buffer stock
(c) Issue price
(d) Fair price shops​

Answer 1

Explanation:

A) The minimum support price is an agricultural product price, set by the Government of India to purchase directly from the farmer. This is not enforceable by law. By definition, this rate is to safeguard the farmer to a minimum profit for the harvest, if the open market has lesser price than the cost incurred.

B) A buffer stock scheme is an attempt to use commodity storage for the purposes of stabilising prices in an entire economy or an individual market. Specifically, commodities are bought when a surplus exists in the economy, stored, and are then sold from these stores when economic shortages in the economy occur.

C) Issue Price - In order to help the poor strata of the society, the government provides them food grains from the buffer stock at a price much lower than the market price. This subsidized price is known as the Issue Price..

D) The Indian food security system was established by the Government of India under the Ministry of Consumer Affairs, Food and Public Distribution to distribute food and non-food items to India's poor at subsidised rates.

Answer 2

Answer:

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