Question
Download Solution PDFWhat was the main purpose of establishing the Agricultural Prices Commission in 1965?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFKey Points
- Option 1 is correct because the main purpose of establishing the Agricultural Prices Commission in 1965 was to determine the prices for various farm products purchased by the government.
- The Agricultural Prices Commission was set up to ensure that farmers received fair prices for their produce, promoting agricultural growth and stability.
- This initiative was crucial for maintaining a stable agricultural economy and ensuring food security in the country.
Additional Information
- The Agricultural Prices Commission was later renamed as the Commission for Agricultural Costs and Prices (CACP).
- The CACP advises the government on the pricing policy of major agricultural commodities to incentivize farmers and ensure profitability.
- The commission's recommendations are considered while setting the Minimum Support Prices (MSP) for various crops.
- The establishment of the commission was a step towards institutionalizing the policy framework for agricultural pricing in India.
Last updated on Jun 17, 2025
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