Which of the statements given below is/ are correct ? 1. For the marketing year 2014-2015, the minimum support price (MSP) for wheat in India has been fixed at Rs. 1,400 / quintal 2. MSP is the rate at which the government sells the grains through the fai

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Q: 29 (CAPF/2014)

Which of the statements given below is/ are correct ?
1. For the marketing year 2014-2015, the minimum support price (MSP) for wheat in India has been fixed at Rs. 1,400 / quintal
2. MSP is the rate at which the government sells the grains through the fair price shops
Select the correct answer using the code given below : .

question_subject: 

Economics

question_exam: 

CAPF

stats: 

0,76,99,76,18,37,44

keywords: 

{'msp': [0, 0, 0, 1], 'minimum support price': [0, 0, 0, 3], 'wheat': [4, 1, 2, 2], 'rate': [2, 3, 13, 20], 'fair price shops': [0, 0, 0, 1], 'india': [8, 1, 7, 13], 'grains': [1, 1, 1, 2], 'marketing year': [0, 0, 0, 1]}

The correct statement in this question is option 1: "For the marketing year 2014-2015, the minimum support price (MSP) for wheat in India has been fixed at Rs. 1,400 / quintal".

Option 2, which states that MSP is the rate at which the government sells the grains through fair price shops, is incorrect. The Minimum Support Price (MSP) is the price at which the government purchases crops from farmers to ensure they receive a fair and remunerative price for their produce. It is not related to the rate at which the government sells grains through fair price shops, which is determined by other factors such as subsidies and public distribution policies.

Therefore, the correct answer is option 1 - "1 only".

It is important to note that the given answer about the MSP for wheat in the specific marketing year may not be up-to-date, as it pertains to the year 2014-2015. The MSP for any given year is subject to change based on various factors such as input costs, market conditions, and government policies.