Economics

The stock of foodgrains - mainly wheat and rice - procured by the government for distribution under PDS is called _____.


ANSWER

Buffer stock


SOLUTION
Buffer Stock is the stock of foodgrains, namely wheat and rice procured by the government through Food Corporation of India (FCI). The FCI purchases wheat and rice from the farmers in states where there is surplus production. The farmers are paid a pre-announced price for their crops. This price is called Minimum Support Price (MSP).
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