Which of the following statement is correct? I. The portion of agriculture products that are sold in the market by the farmers is called 'Marketed surplus'. II. In accordance with the goal of the state controlling the commanding heights of the economy, the Industrial policy resolution of 1956 was adopted.
Both I and II
Analyzing Statements on Agricultural Marketed Surplus and Industrial Policy
Let's examine each statement provided in the question to determine its correctness regarding concepts in economics and Indian policy.
Statement I: Marketed Surplus in Agriculture
The first statement discusses the concept of 'Marketed surplus'. It defines marketed surplus as the portion of agricultural products that farmers sell in the market. This is a standard definition in agricultural economics.
- Farmers produce agricultural goods.
- A portion of this produce is kept by the farmer for their own consumption, seed, feed for livestock, etc. This is called the retained portion.
- The remaining portion that is sold in the market is known as the marketed surplus.
Therefore, the definition provided in Statement I is accurate. The amount sold in the market by farmers is indeed termed 'Marketed surplus'.
Statement II: Industrial Policy Resolution of 1956 and State Control
The second statement links the Industrial Policy Resolution of 1956 (IPR 1956) with the goal of the state controlling the 'commanding heights of the economy'.
- The Industrial Policy Resolution of 1956 was a significant policy document in India's post-independence economic planning.
- It emphasized the role of the public sector in industrial development.
- The concept of 'commanding heights of the economy' refers to key, strategic industries and sectors that the state aims to control to guide overall economic development, reduce private monopolies, and ensure equitable growth.
- IPR 1956 allocated different industrial sectors into schedules, clearly demarcating areas reserved exclusively for the state, areas where the state would play a dominant role, and areas open to the private sector (though still subject to state control through licensing).
This policy was explicitly designed to give the state control over crucial and strategic industries, aligning with the objective of controlling the 'commanding heights' to steer the nation's industrialization and economic structure. Therefore, Statement II is also correct.
Conclusion
Based on the analysis of both statements:
- Statement I correctly defines 'Marketed surplus'.
- Statement II correctly links the Industrial Policy Resolution of 1956 to the state controlling the 'commanding heights' of the economy.
Thus, both statements are correct.
Important Questions from Industrial Sector
With reference to casual workers employed in India, consider the following statements :
1. All casual workers are entitled to Employees Provident Fund coverage.
2. All casual workers are entitled to regular working hours and overtime payment.
3. The government can by a Notification specify that an establishment or industry shall pay wages only through its bank account.
Which of the above statements are correct?
With reference to ‘WaterCredit’, consider the following statements :
1. It puts microfinance tools to work in the water and Sanitation sector.
2. It is a global initiative launched under the aegis of the World Health Organization and the World Bank.
3. It aims to enable the poor people to meet their water needs without depending on subsidies.
Which of the statements given above are correct?
Recently, India's first 'National Investment and Manufacturing Zone' was proposed to be set up in
Which one among the following industries is the maximum consumer of water in India?
With reference to the usefulness of the byproducts of sugar industry, which of the following statements is/are correct?
1. Bagasse can be used as biomass fuel for the generation of energy.
2. Molasses can be used as one of the feedstocks for the production of synthetic chemical fertilizers.
3. Molasses can be used for the production of ethanol.
Select the correct answer using the codes given below:
