ECONOMICS
ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Essential Commodities Act, 1955
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Agricultural Produce (Grading and Marking) Act, 1937
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Agricultural Produce Market Committee Act enacted by States
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Food Products Order, 1956 and Meat and Food Products Order, 1973
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Detailed explanation-1: -Presently, markets in agricultural products are regulated under the Agricultural Produce Market Committee (APMC) Act enacted by State Governments. There are about 2477 principal regulated markets based on geography (the APMCs) and 4843 sub-market yards regulated by the respective APMCs in India.
Detailed explanation-2: -Agricultural Produce Market Committee (APMC) Yard / Regulated Market Committees (RMC) Yard is any place in the market area managed by a Market Committee, for the purpose of regulation of marketing of notified agricultural produce and livestock in physical, electronic or other such mode.
Detailed explanation-3: -Agricultural Produce Market Committees (APMC) is the marketing board established by the state governments in order to eliminate the exploitation incidences of the farmers by the intermediaries, where they are forced to sell their produce at extremely low prices.
Detailed explanation-4: -Regulated market is wholesale market where buying and selling is regulated and controlled by the state government through the market committee. It aims at the elimination of unhealthy and unscrupulous practices reducing marketing charges and providing facilities to producers and sellers in the market.