Agriculture : Economic & Social Issues MCQ Practice Questions & Answers (English) - ObjectiveMcq

Agriculture in Economic & Social Issues : Practice MCQ Questions & Answers with Explanations

2 practice sets · Page 1 of 1

Economic Social IssuesHardAgricultureNational Income & GDP Horticulture

Consider the following statements about the Statistical Report on Value of Output from Agriculture and Allied Sectors (2011-12 to 2023-24) released by NSO, MoSPI:

The GVA of agriculture and allied sectors at current prices rose from ₹1,502 thousand crores in 2011-12 to ₹4,878 thousand crores in 2023-24, registering a growth of about 225%.
The Gross Value of Output (GVO) at constant prices increased by around 54.6%, from ₹1,908 thousand crores in 2011-12 to ₹2,949 thousand crores in 2023-24.
Banana overtook mango in 2023-24 as the top contributor to GVO in the fruit group.
The contribution of fishing and aquaculture in agricultural GVO has declined from 7.0% in 2011-12 to 4.2% in 2023-24.

Which of the above statements is/are correct?

1, 2 and 3 only

1 and 2 only

2, 3 and 4 only

1, 2, 3 and 4

All of the above

View Answer

Correct Answer: A — 1, 2 and 3 only

Explanation:

The correct answer is A: 1, 2 and 3 only.

Statement 1 is CORRECT: GVA of agriculture and allied sectors at current prices rose from ₹1,502 thousand crores in 2011-12 to ₹4,878 thousand crores in 2023-24 — a growth of approximately 225%. This reflects both real output growth and inflationary trends.
Statement 2 is CORRECT: GVO at constant prices increased by around 54.6%, from ₹1,908 thousand crores to ₹2,949 thousand crores, indicating real productivity growth in the sector after eliminating inflation.
Statement 3 is CORRECT: Banana overtook mango in 2023-24 as the top contributor to GVO in the fruit group. Bananas are grown year-round, have a shorter gestation period, and serve both domestic and export markets consistently. Mangoes, being seasonal and weather-dependent, have a relatively lower GVO despite popularity.
Statement 4 is INCORRECT: The contribution of fishing and aquaculture has not declined. It has shown consistent growth driven by increasing seafood demand, technological advancements, and government support for the blue economy.

Note: GVA measures the contribution of a sector excluding taxes and subsidies. GVO represents the total value of goods and services produced including intermediate consumption.

Economic Social IssuesMediumGovernment Budgeting Union BudgetAgriculture

With reference to the Union Budget 2025–26, consider the following statements:

The Minimum Support Price (MSP) for all major crops was increased by 12% to ensure better farmer incomes.
A new Infrastructure Development Fund of ₹2.5 lakh crore has been created for the construction of rural roads and port connectivity.
The public sector banks (PSBs) have been allotted ₹25,000 crore to improve their capital adequacy ratios.

Which of the statements given above is/are correct?

1 and 2 only

1 and 3 only

2 and 3 only

1, 2 and 3

1 only

View Answer

Correct Answer: E — 1 only

Explanation:

The correct answer is E: 1 only.

Statement 1 is CORRECT: MSP for major crops was increased by 12% to boost farmer incomes.
Statement 2 is INCORRECT: A new Infrastructure Fund was announced, but the amount was ₹2 lakh crore (not ₹2.5 lakh crore) and it was not exclusively for rural roads and port connectivity.
Statement 3 is INCORRECT: ₹25,000 crore was allocated to PSBs to enhance their lending capacity, not specifically to improve capital adequacy ratios.

Additional Information:

A ₹1.4 lakh crore allocation for Pradhan Mantri Awas Yojana was announced for affordable housing.
The Infrastructure Fund will cover both urban and rural areas in a phased manner.