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Consider the following statement :
1. Indian Government announces the minimum support price for the wheat rice and sugarcane in a year.
2. The common paddy has higher minimum support price than paddy Grade-A.
Which of the statements given above is/are correct?
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- 1 only
- 2 only
- Both 1 and 2
- Neither 1 nor 2
Correct Option: D
Regarding to minimum support price neither of the statements given above is correct. In Order to help farmers in getting remunerative prices for their produce with a view to encourage higher investment and also to increase production and productivity of a commodity, government of India declares Minimum Support Price (MSPs) for 25 notified agriculture commodities for each Kharif and Rabi crop. Moreover, the common paddy does not has higher minimum support price than the paddy Grade-A.
