Union Budget 2018-19 – Agriculture and Rural Economy related announcements For NABARD Grade A/B 2018 Examination
Union Budget 2018-19 – How has EduTap covered it? •
Introductory Video on Union Budget 2018-19? How to approach it?
•
Extrapolated MCQs with detailed explanations
•
Discussion of these MCQs through video series
Union Budget 2018-19 Agriculture and Rural Economy related announcements
Questions 1-10 discussion
Union Budget 2018-19 Agriculture and Rural Economy related related announcements Q.1) In the Q.1) the Unio Union n Budg udget 2018018-19 19,, the the gover overnm nmen entt has has made made an important announcement regarding the MSP of the Kharif Crops. The MSP for all unannounced kharif crops would be atleast how many times the production cost? [a] 1.5 times [b] 2 times [c] 2.5 times [d] 1 time [e] 3 times
Union Budget 2018-19 Agriculture and Rural Economy related related announcements What is Minimum Support Price (MSP)? •
•
•
•
Minimum Support Price is the price at which government purchases crops from the farmers, whatever whatever may be the price for the crops . Minimum Support Price is an important part of India’s agricultural price policy. The MSP helps to incentivize the framers and thus ensures adequate food grains production in the country. It gives sufficient remuneration to the farmers, provides food grains supply to buffer stocks and supports the food security programme through PDS and other o ther programmes.
Union Budget 2018-19 Agriculture and Rural Economy related related announcements Q.2) In the Union Budget 2018-19, the government has announced to increase the institutional credit for agriculture sector to how much for the year 2018-19 from Rs.10 lakh crore in 2017-18? [a] Rs.12 lakh crore [b] Rs.11.5 lakh crore [c] Rs.12.5 lakh crore [d] Rs.11 lakh crore [e] Rs.10.5 lakh crore
Union Budget 2018-19 Agriculture and Rural Economy related related announcements The volume of institutional credit for agriculture sector from year-toyear has increased from Rs.8.5 lakh crore in 2014-15 to Rs.10 lakh crore in 2017-18 and the government government has proposed proposed to raise raise this to Rs.11 lakh crore for the year 2018-19.
Union Budget 2018-19 Agriculture and Rural Economy related related announcements Q.3) The setting up of two new funds ‘Fisheries and Aquaculture Infrastructure Infrastructure Development Fund (FAIDF) (FAIDF) for fisheries sector se ctor and an Animal Husbandry Infrastructure Infrastructure Development Fund (AHIDF) for financing infrastructure infrastructure requirement of animal husbandry sector’ sector ’ has been announced in the Budget 2018-19. What is the total corpus of the two new funds?
[a] Rs.11,000 crore [b] Rs.12,000 crore [c] Rs.10,000 crore [d] Rs.9,000 crore [e] Rs.15,000 crore
Union Budget 2018-19 Agriculture and Rural Economy related related announcements What are the other announcements announcements that would help the fisheries fisheries and the animal husbandry sector? •
•
In order to help the small small and and marg margin inal al farm farmer erss in fish fisher eries ies and and anim animal al husb husban andr dry y secto sectorr meet meet their their worki working ng capi capita tall ne need edss , the government has extended the facility of Kisan Credit Cards (KCC) to the sector. This would give benefit of crop loan and interest subvention , so far available to agriculture sector only under KCC, for rearing of cattle, buffalo, buffalo, goat, sheep poultry and fisheries.
Union Budget 2018-19 Agriculture and Rural Economy related related announcements What is Kisan Credit Card Scheme? •
•
•
Kisa Kisan n Cred Credit it Card Card sche scheme me was was intr introd oduc uced ed by NDA NDA Gove Govern rnmen mentt in August 1998 with the aim to provide adequate and timely short-term credit needs of farmers during the cropping season. It was first proposed in the Budget 1998-99 by then Finance Minister Yashwant Sinha. Consequent to this, NABARD had prepared a Model Kisan Credit Card Scheme in consultation with the Major Banks on the basis of R V Gupta Committee.
Union Budget 2018-19 Agriculture and Rural Economy related related announcements Q.4) In the Union Budget 2018-19, the government has announced the launch of a ‘Restructured National Bamboo Mission’, which is based on a cluster-based approach to address the complete bamboo value chain and promote bamboo sector in a holistic manner. What has been the outlay for this scheme? [a] Rs.1378 Crore [b] Rs.1290 Crore [c] Rs.1678 Crore [d] Rs.1190 Crore [e] Rs.1890 Crore
Union Budget 2018-19 Agriculture and Rural Economy related related announcements The Indian Forest (Amendment) Bill, 2017: The Indian Forest (Amendment) Bill, 2017 was introduced in Lok Sabha by the Minister of Environment, Forest, and Climate Change on December 18, 2017. The Bills replaces the Indian Forest (Amendment) Ordinance, 2017 and amends the Indian Forest Act, 1927. The Act consolidates laws relating to forests, transit of forest-produce and the duty to be levied on them. Under the Act, the definition of tree includes palms, bamboos, stumps, brush-wood, and canes . The Bill amends this definition of tree to remove the word bamboos. Since bamboo is defined as a tree under the Act, its inter-state movement Conseq eque uent nt to the the requ requir ires es perm permit it when when in tran transi sitt in othe otherr stat states es.. Cons amendment, felling or transportation of bamboos growing in non-forest areas will not require any permits. •
•
•
•
•
•
Union Budget 2018-19 Agriculture and Rural Economy related related announcements Q.5) In the Union Budget 2018-19, the government has announced the launching launching of ‘Oper ‘Operati ation on Green Greens’ s’ to address price volatility of perishable commodities like potatoes, tomatoes and onion. What is the outlay of this scheme? [a] Rs.250 Crore [b] Rs.300 Crore [c] Rs.450 Crore [d] Rs.500 Crore [e] Rs.550 Crore
Union Budget 2018-19 Agriculture and Rural Economy related related announcements Q.6) In the Union Budget 2018-19, it has been announced that there would be 100% deduction in respect of profits to Farmer Producer Companies (FPCs), having a turnover up to Rs.100 Crore. This deduction has been announced for a period of how many years starting from FY 2018-19? [a] 5 Years [b] 4 Years [c] 3 Years [d] 7 Years [e] 6 Years
Union Budget 2018-19 Agriculture and Rural Economy related related announcements Q.7) In the Q.7) the Unio Union n Budg udget 2018018-1 19, how how much much amou amoun nt has has been been allocated to support organized cultivation of highly specialized medicinal and aroma omatic plants and aid small and cottage ind industries that manufacture perfumes, essential oils and other othe r associated products? [a] Rs.500 Crore [b] Rs.300 Crore [c] Rs.200 Crore [d] Rs.100 Crore [e] Rs.250 Crore
Union Budget 2018-19 Agriculture and Rural Economy related related announcements Q.8) In the Union Budget 2018-19 it has been announced that an AgriMarket Infrastructure Fund will be set up for developing and upgrading agricultural marketing infrastructure in the 22000 Grameen Agricultural Markets (GrAMs) and 585 APMCs. How much corpus has been setup regarding regarding the same? same ? [a] Rs.1500 Crore [b] Rs.2200 Crore [c] Rs.1000 Crore [d] Rs.2100 Crore [e] Rs.2000 Crore
Union Budget 2018-19 Agriculture and Rural Economy related related announcements Q.9) Which of the following is the amount allocated for Ministry of Food Processing? [a] Rs.1000 Crore [b] Rs.1200 Crore [c] Rs.900 Crore [d] Rs.1400 Crore [e] Rs.1500 Crore
Union Budget 2018-19 Agriculture and Rural Economy related related announcements •
•
•
The allocatio allocation n of Ministry Ministry of Food Processing Processing has been doubled from Rs.715 crore in 2017-18 to Rs.1400 Rs .1400 crore in 2018-19. The Prime Minister Krishi Sampada Yojana is our flagship programme for boosting investment in food processing and the sector is growing at an average rate rate of 8% per annum. With the increased allocation for the sector, the Government will promo promote te esta establ blish ishmen mentt of speci special aliz ized ed agro agro-pr -proce ocessi ssing ng fina financ ncia iall inst instit itut utio ions ns in this this sect sector or and and to set set up sta tatte-of e-of-t -the he-a -art rt tes testing ting facilities in all the forty-two Mega Food Parks.
Union Budget 2018-19 Agriculture and Rural Economy related related announcements Q.10) Which of the following schemes has been renamed as Prime Minister Krishi Sampada Yojana by the government? [a] AGRO Scheme [b] Integrated Food Processing Scheme [c] Agricluster scheme [d] SAMPADA Scheme [e] None of the above
Union Budget 2018-19 Agriculture and Rural Economy related related announcements •
•
•
•
In Augu August st 2017 2017,, The The Cabi Cabine nett Comm Commit itte tee e on Econo conomi micc Aff Affair airs (CCE (CCEA) A) has has renaming ng of SA SAMP MPAD ADA A (Scheme (Scheme for for Agro-M Agro-Marin arine e Proces Processin sing g and approved renami Development of Agro-Processing Clusters) as Pradhan Mantri Kisan Sampada Yojana (PMKSY). The SAMPADA scheme was approved by the CCEA in May 2017 for the period of 2016-20 coterminous with the 14th Finance Commission cycle . supplemen entt agricul agricultur ture, e, modern moderniz ize e The objective of of the scheme is to supplem processing and decrease agricultural-waste. agricultural-waste. Abou Aboutt the the sche scheme me: PMKSY is an umbrell umbrella a scheme scheme incorp incorpor orati ating ng ongoin ongoing g schemes of the Ministry like Mega Food Parks, Integrated Cold Chain and Value Addition Infrastructure, Food Safety and Quality Assurance Infrastructure, etc. and also new schemes like Infrastructure for Agro-processing Clusters, Creation of Backward and Forward Linkages, Creation / Expansion of Food Processing & Preservation Capacities.
Thank You! Happy Learning!
