Relevance: Prelims: Economy
Why in news?
• The Centre has now directed all the States and Union Territories to implement the Market Intervention Scheme to ensure good prices for perishable crops.
About:
• The Market Intervention Scheme is meant to protect the growers of perishable commodities from making distress sales, especially at times when prices fall below the cost of production.
• The scheme can be invoked by a State which is willing to bear half the losses of procurement, with the remainder being borne by the Centre, whenever there is a 10% fall in ruling market prices in comparison to the previous normal year.
For more such notes, Articles, News & Views Join our Telegram Channel.
Click the link below to see the details about the UPSC –Civils courses offered by Triumph IAS. https://triumphias.com/pages-all-courses.php