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UPSC 2020: Which of the following factors/policies were affecting the price of rice in India in the recent past? 1. Minimum Support Price 2. Government’s trading 3. Government’s stockpiling 4. Consumer subsidies Select the correct answer using the code given below:
(a)1, 2 and 4 only
(b)1, 3 and 4 only
(c)2 and 3 only
(d)1, 2, 3 and 4
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Not attemptedCorrect Answer: (d) 1, 2, 3 and 4
Rice prices are shaped simultaneously by: (1) the Minimum Support Price that sets a price floor, (2) government trading through Food Corporation procurement/sales, (3) buffer-stocking that withdraws or releases grain, and (4) consumer subsidies under the Public Distribution System that alter effective demand. All four factors therefore affect market prices, making option (d) correct. ([fao.org](https://www.fao.org/giews/food-prices/food-policies/detail/en/c/1413722/?utm_source=openai))
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Frequently Asked Questions
What is the correct answer to this UPSC 2020 Indian Economy question?▼
The correct answer is option (d): 1, 2, 3 and 4. Watch the detailed video explanation in our Sherlocking Prelims course on UnlockIAS.
Which year was this Agriculture & Rural Development question asked in UPSC Prelims?▼
This question was asked in UPSC CSE Prelims 2020, GS Paper 1, as Question 63. It falls under Indian Economy > Agriculture & Rural Development.
What is the difficulty level of this UPSC question?▼
This question is rated "easy". It tests basic recall and most well-prepared aspirants should answer it correctly.
How many UPSC Prelims questions have been asked from Agriculture & Rural Development?▼
UPSC has asked 60 questions from Agriculture & Rural Development (under Indian Economy) across multiple years. Visit the topic page to see the full list and year-wise trends.