Question

In the context of Indian agriculture, which of the following statements is/are CORRECT?

• A. NABARD was established in 1982.
• B. One of the objectives of setting up of the CACP was to ensure remunerative prices to farmers.
• C. The APMC Act is related to institutional credit supply in agriculture.
• D. The National Commission on Agriculture was chaired by V. M. Dandekar.

Answer 1

The Correct Option is A, B

To determine the correct statements regarding Indian agriculture, let's analyze each option:

1. NABARD was established in 1982.
   • Explanation: The National Bank for Agriculture and Rural Development (NABARD) was indeed established on 12 July 1982 to provide credit for the promotion of agriculture and rural development in India.
   • This statement is correct.
2. One of the objectives of setting up of the CACP was to ensure remunerative prices to farmers.
   • Explanation: The Commission for Agricultural Costs and Prices (CACP) was set up to recommend minimum support prices (MSP) to ensure that farmers get a remunerative price for their produce. This helps protect farmers from price fluctuations and ensures a stable income.
   • This statement is correct.
3. The APMC Act is related to institutional credit supply in agriculture.
   • Explanation: The Agricultural Produce Market Committee (APMC) Act actually governs the markets for agricultural produce rather than institutional credit. It aims to regulate marketing practices in agriculture, improve market infrastructure, and protect farmers from exploitation by large wholesalers and retailers.
   • This statement is incorrect.
4. The National Commission on Agriculture was chaired by V. M. Dandekar.
   • Explanation: The National Commission on Agriculture was established in 1970 and was chaired by Shri Jagjivan Ram, not V. M. Dandekar. V. M. Dandekar was an eminent Indian economist but did not chair this commission.
   • This statement is incorrect.

Thus, the correct statements in the context of Indian agriculture are:

• NABARD was established in 1982.
• One of the objectives of setting up of the CACP was to ensure remunerative prices to farmers.