The Correct answer is Commission for Agricultural Costs and Prices.
Key Points
- CACP recommends MSP to Cabinet Committee on Economic Affairs (CCEA) and its decision/recommendations are not binding.
- It is a statutory body under the Ministry of Agriculture.
Important Points
Planning Commission
- The Planning Commission of India was set up by a Resolution of the Government of India in March 1950.
- The planning commission was an autonomous body, which worked closely with the union and state cabinets and had full knowledge of their policies.
- Institutionally it was a part of the cabinet organization and the ‘demands for grants’ for the PC were included in the budget for the cabinet secretariat.
NABARD
- NABARD is a development bank focussing primarily on the rural sector of the country.
- It is the apex banking institution to provide finance for Agriculture and rural development. Its headquarter is located in Mumbai.
- It is a statutory body established in 1982 under Parliamentary act-National Bank for Agriculture and Rural Development Act, 1981.

