CA Foundation · Business Economics · Indian Economy
Which of the following was a main objective of the three farm laws enacted in 2020, which were later repealed?
The 2020 farm laws mainly sought to let farmers sell produce outside regulated APMC mandis and to set up a contract farming framework, along with relaxed stock limits. They did not nationalise land, abolish the FCI or raise MSP for all crops.
- AAllowing farmers to sell outside regulated APMC mandis and to enter contract farmingCorrect
- BRaising the MSP of all crops to double the market price
- CNationalising all agricultural land
- DAbolishing the Food Corporation of India
Explanation
The 2020 laws aimed to permit trade of farm produce outside APMC mandis, provide a framework for contract farming, and relax stock limits under the Essential Commodities Act. They did not nationalise land, abolish the FCI or fix MSP at double market prices.
Did you get it right without looking?
One question tells you little. A timed set on Indian Economy shows your real accuracy, how long you take and where you lose marks.
More Indian Economy questions
- An economy's nominal GDP rises from ₹200 lakh crore to ₹231 lakh crore in a year, while the GDP deflator rises from 100 to 110. What is the …
- Which combination correctly identifies the immediate crisis conditions that led India to adopt the 1991 reforms and the exchange-rate step t…
- Which of the following was a trade-policy reform introduced after 1991 as part of globalisation?
- India's agricultural sector accounted for about 45% of the workforce and 15% of GVA in a given year, while the rest of the economy had the r…
- In January 2015, the Planning Commission was replaced by NITI Aayog. Which of the following is a key difference in NITI Aayog's approach com…
- Which of the following correctly describes the First Five Year Plan of India (1951-56), which was based on the Harrod-Domar model?