GENERAL KNOWLEDGE

Detailed explanation-1: -The National Commission on Farmers (NCF) was constituted on November 18, 2004 under the chairmanship of Professor M.S. Swaminathan. The Terms of Reference reflected the priorities listed in the Common Minimum Programme.

Detailed explanation-2: -The Swaminathan Commission Report states that the government should raise the MSP to at least 50% more than the weighted average cost of production. It is also known as the C2+ 50% formula. It includes the imputed cost of capital and the rent on the land (called ‘C2’) to give farmers 50% returns.