Question:⤵⤵
☆Write Notes On
(1) Minimum Support Price
(2) Buffer Stock
(3) Issue Price
(4) Fair Price Shops
Answers
Explanation:
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
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Minimum Support Price:
The MSP system was started in 1966-67 for wheat and was expanded further to include other essential food crops, which was then sold to the poor under subsidised rates under the public distribution system (PDS). In 1966, wheat's MSP was Rs 54 per quintal. Currently, it is at Rs 1,975 per quintal.
Buffer Stock:
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.
Issue Price:
The issue price is the price at which shares are offered for sale when they first become available to the public. ... Investors earn the difference between the discount issue price and the full face value paid at maturity.
Fair Price Shops:
Fair Price Shop means a shop which has been licensed to distribute essential commodities , to the ration card holders under the Targeted Public Distribution System. The term is defined in Section 2(4) of National Food Security Act, 2013.