Consider the following statements regarding Minimum Support Price.
1. Commission for Agricultural Costs & Prices (CACP) mandated to recommend minimum support prices is chaired by Union Minister.
2. CACP came into existence after LPG reforms, before reforms, it was the sole responsibility of the state government to recommend a Minimum Support Price for crops.
Which of the above statements is/are correct?
1
1 only
2
2 only
3
Both 1 and 2
4
Neither 1 nor 2