1. The Union Government fixes the Statutory Minimum Price of sugarcane for each sugar season
2. Sugar and sugarcane are essential commodities under the Essential Commodities Act.
Which of the statements given above is/are correct?
Correct Answer: (c) Both 1 & 2
Solution:Statutory minimum price of sugarcane for every season is a policy provision while sugar and sugarcane falls within essential commodities act.
Economic Importance of Sugarcane Production
The economic importance of its production can be seen in the following points:
• Significant Revenue Generator – It is one of the highest revenue-generating crops in India, contributing substantially to the country’s agricultural GDP.
• Support to Related Industries – The crop supports various industries like sugar, ethanol, and paper manufacturing, creating a robust industrial backbone for rural economies.
• Export Potential – The by-products of this crop, like sugar and ethanol, have a significant export value, contributing to the national economy.
• Employment Opportunities – This crop cultivation provides direct and indirect employment to millions of people, including farmers, labourers, and workers in related industries.
• Income Stability – For many farmers, especially in cane-growing regions, the crop is a primary source of income, offering more stability than other crops.
• Increased Livelihood – Cane crop cultivation helps improve the standard of living for farming communities by providing a reliable income source and contributing to rural development.