Question
What is meant by buffer stock? In what ways does this help in ensuring food security?

Answer

Buffer Stock is the stock of foodgrains, namely wheat and rice, procured by the government through the 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 preannounced price for their crops. This price is called Minimum Support Price (MSP). The MSP is declared by the government every year before the sowing season to provide incentives to farmers for raising the production of these crops. The purchased foodgrains are stored in granaries.
Following are the ways in which this stock is used by the government to ensure food security in the country;
  1. The government procures food grains through FCI from the farmers after paying them a pre-announced price for their produce in Minimum Support Price.
  2. The FCI has its god owns all over the country. It stores the purchased grains in these god owns.
  3. The food procured by FCI is distributed through government regulated ration shops among the poor sections of the society at a price lower than the market price.
  4. This also helps to resolve the problem of shortage of food during adverse weather conditions or during the periods of calamity.
  5. Any family with a ration card can buy 3 stipulated amount of food grains (rice and wheat) from the ration shops.

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