Which of the following bodies recommends minimum support price for crops?

The correct answer is CACP.

Key Points

• The full form of CACP is The Commission for Agricultural Cost and Prices.
•  It is a decentralized agency and the advisory body to the Ministry of Agriculture & Farmers Welfare of the Government of India.

Important Points 

• It was established in 1965 as the Agricultural Prices Commission and was renamed with the present name in 1985.
• CACP recommends Minimum Supporting Price to Cabinet Committee on Economic Affairs (CCEA) which is not binding on it.

Additional Information 

• NITI Ayog
  • It is a public policy think tank of the Government of India.
  • It is established with the aim to achieve sustainable development goals with cooperative federalism by fostering the involvement of State Governments of India in the economic policy-making process. 
• NABARD
  • It stands for National Bank for Agriculture and Rural Development.
  • It is an apex regulatory body for the overall regulation of regional rural banks and apex cooperative banks in India.
  • It comes under the jurisdiction of the Ministry of Finance, Government of India.
• FCI
  • The FCI stands for The Food Corporation of India.
  • It is a statutory body created and run by the Government of India.
  • It comes under the jurisdiction of the Ministry of Consumer Affairs, Food and Public Distribution.