Question
Download Solution PDFWhat was the main purpose of establishing the Agricultural Prices Commission in 1965?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is To determine the prices for various farm products purchased by the government
Key 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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