JKPSC Prelims 2023
General Studies (Paper 1)
Based on the Essential Commodities Act 1955, any action on imposing stock limit shall be based on price rise, and an order for regulating stock limit of any agricultural produce may be issued under this Act only if there is:
Answer & Explanation
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Correct Answer:
Option C —
Both
These specific triggers for imposing stock limits were introduced through the Essential Commodities (Amendment) Act, 2020. The amendment aimed to modernize the 1955 Act by ensuring that stock limits are only imposed under "extraordinary circumstances" (such as war, famine, extraordinary price rise, or natural calamity) to provide more certainty to farmers and processors.Detailed Analysis of the Statements
Statement 1: A hundred percent increase in the retail price of horticultural produce.
Status: Correct.
Explanation: For perishable goods (horticultural produce), a stock limit can only be imposed if there is a 100% increase in the retail price over the immediately preceding 12 months or the average retail price of the last five years, whichever is lower.
Statement 2: Fifty percent increase in the retail price of non-perishable agricultural foodstuffs.
Status: Correct.
Explanation: For non-perishable agricultural foodstuffs (like pulses or oils), the threshold is a 50% increase in the retail price over the same comparative period (12 months or 5-year average).
Answer verified by Quintessence Classes faculty — Karan Nagar, Srinagar.
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