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

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.

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.