WBCS.LIVE practice question

The 'Commission for Agricultural Costs and Prices' (CACP) was originally established in 1965 under what name?

Solve this multiple-choice question and check the correct answer with its explanation below.

Answer options

  1. National Commission on Farmers
  2. Agricultural Prices Commission (APC)
  3. Board of Agricultural Economics
  4. Minimum Support Price Committee

Correct answer and explanation

Correct answer: Agricultural Prices Commission (APC)

Explanation: āœ… Correct Answer: B) Agricultural Prices Commission (APC) šŸ“š Explanation: The government established the Agricultural Prices Commission (APC) in 1965 to scientifically advise on the pricing policy for agricultural commodities, primarily to announce Minimum Support Prices (MSPs). As its mandate massively broadened to heavily include the cost of cultivation in price determination, it was officially renamed the Commission for Agricultural Costs and Prices (CACP) in 1985.