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SANJIT

· started a discussion

· 1 Months ago

so is the answer correct? (Question: 57024.0 )

Price Stabilisation Fund (PSF) refers to any fund constituted for the purpose of containing extreme volatility in prices of selected commodities. The amount in the fund is generally utilised for activities aimed at bringing down/up the high/low prices say for instance, procurement of such products and distribution of the same as and when required, so that prices remain in a range.

Question:

Consider the following statements:

1.  Price Stabilization Fund Scheme was launched for Coffee, Tea, Rubber and Tobacco growers in the country

2.  In this scheme Government procures the commodities when the prices fell below a certain level to support the growers

Which among the above statements is/ are correct ?

Options:
A) Only 1 is correct
B)

Only 2 is correct

C)

Both 1 and 2 are correct

D)

Neither 1 nor 2 is correct

Solution:
(a)

Background

  • Decline in International and Domestic Prices of Tea, Coffee, Rubber and Tobacco during past few years causing distress to the primary growers.
  • Commissioned by the Department of Commerce, NCAER submits report in September 2001and suggests various policy options.
  • Department of Commerce decides to set up a Price Stabilisation Fund.
  • CCEA gives in-principle approval in June 2002.
  • Committee constituted to workout modalities of implementation of the Price Stabilisation Fund Scheme.
  • CCEA accords approval to the PSF Scheme in February 2003.
  • PSF Scheme launched in April 2003.


Objective

  • To provide financial relief to the growers when prices of these commodities fall below a specified level.
  • Sustained, long-term support to growers in place of adhoc interventions during crisis.
  • To alleviate the hardship faced by the growers due to low prices and to safeguard their interests.


Abhishek Nath

· commented

· 1 Months ago

Both should be correct.. Well noticed..
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