(d) All of the above
Essential Commodities Act 1955
The ECA Act 1955 was legislated at a time when the country was facing a scarcity of foodstuffs due to persistent low levels of food grains production.
Statement 2 is correct: To prevent hoarding and black marketing of foodstuffs, the Essential Commodities Act was enacted in 1955.
Statement 1 is correct: There is no specific definition of essential commodities in the Essential Commodities Act, 1955.
Section 2(A) of the Act states that an “essential commodity” means a commodity specified in the Schedule of the Act.
Statement 3 is correct: The ECA 1955 is used to curb inflation by allowing the Centre to enable control by state governments of trade in a wide variety of commodities.

(d) Neither 1 nor 2
Statement 1 is not correct: Commission for Agricultural Costs and Prices (CACP) is a decentralized agency of the Government of India. It was established in 1965 as the Agricultural Prices Commission, and was given its present name in 1985. It is an advisory body, not statutory, attached to the Ministry of Agriculture & Farmers Welfare, Government of India. The commission was established to recommend Minimum Support Prices (MSPs), to motivate cultivators and farmers to adopt the latest technology in order to optimize the use of resources and increase productivity. MSP is a “minimum price” for any crop that the government considers as remunerative for farmers and hence deserving of “support”. The CACP is currently composed of five people. It consists of: A Chairman; Member Secretary; One Official Member; Two Non-Official Members; The two non-official members are usually representatives of the farming community and have an active association with the farming community.
Statement 2 is not correct: It is an advisory body whose recommendations are not binding on the Government. The CACP does not do any field-based cost estimates itself. It makes projections using state-wise, crop-specific production cost estimates provided by the Directorate of Economics & Statistics in the Agriculture Ministry. The latter are, however, generally available with a three-year lag. CACP submits its recommendations to the Government in the form of Price Policy Reports each year. The reports consist of five categories of commodities namely Kharif crops, Rabi crops, Sugarcane, Raw Jute, and Copra

(b) 2 and 3 only
Statement 1 is correct: Dedicated Freight Corridor (DFC): It is a high speed and high capacity railway corridor that is exclusively meant for the transportation of freight, or in other words, goods and commodities. DFC involves the seamless integration of better infrastructure and state of the art technology.
Statement 2 is not correct: Eastern Dedicated Freight Corridor (EDFC): It starts at Sahnewal (Ludhiana) in Punjab and ends at Dankuni in West Bengal. The EDFC route has coal mines, thermal power plants and industrial cities. Feeder routes are also being made for these. The EDFC route covers Punjab, Haryana, Uttar Pradesh, Bihar, Jharkhand and West Bengal
The World Bank is funding a majority of the EDFC. The 351-km-long ‘New Bhaupur-New Khurja section’ will decongest the existing Kanpur-Delhi main line and double the speed of freight trains from 25 km h to 75 kmph.
Western Dedicated Freight Corridor (WDFC): The other arm is the around 1,500-km WDFC from Dadri in Uttar Pradesh to Jawaharlal Nehru Port Trust in Mumbai, touching all major ports along the way. The WDFC covers Haryana, Rajasthan, Gujarat, Maharashtra and Uttar Pradesh. It is being funded by the Japan International Cooperation Agency.
Statement 3 is not correct: Constructed by Dedicated Freight Corridor Corporation of India Limited (DFCCIL), that has been set up as a special purpose vehicle to build and operate Dedicated Freight Corridors. The Dedicated Freight Corridor Corporation of India Limited (DFCCIL) is a wholly owned subsidiary of Indian Railways, Ministry of Railways, Government of India with the responsibility to undertake planning, development, and mobilisation of financial resources and construction, maintenance and operation of the “Dedicated Freight Corridors” (DFC). Indian Railway Catering and Tourism Corporation (IRCTC) is a wholly owned subsidiary of the Indian Railways, Ministry of Railways, Government of India. It provides ticketing, catering, and tourism services for the Indian Railways.

(c) Both 1 and 2
Statement 1 is correct: Buffer stock refers to a reserve of a commodity that is used to offset price fluctuations and unforeseen emergencies. It is generally maintained for essential commodities and necessities like food grains, pulses etc. The concept of buffer stock was first introduced during the 4th Five Year Plan (1969-74). At present, the Government of India prefers to use the term – Food grain stocking norms – which refers to the level of stock in the Central Pool that is sufficient to meet the operational requirement of food grains and exigencies at any point of time. Earlier this concept was termed as Buffer Norms and Strategic Reserve
Statement 2 is correct: Following are the objectives of Buffer Stock in India:
1. For meeting the prescribed minimum buffer stock norms for food security.
2. For monthly release of food grains for supply through Targeted Public Distribution System (TPDS) and Other Welfare Schemes (OWS).
3. For meeting emergency situations arising out of unexpected crop failure, natural disasters, etc.
4. For the purpose of Price Stabilization or market intervention to augment supply, so as to help moderate the open market prices.
5. The crops are procured at MSP so that the farmers do not suffer negatively for producing more.
6. In times of deficit, the government releases the buffer stocks in a phased manner so that interests of the consumers do not suffer, and they are able to meet their nutritional requirements at reasonable prices.

(d) Neither 1 nor 2
Statement 1 is not correct: According to the FDI policy, “Inventory model of e commerce means an ecommerce activity where inventory of goods and services is owned by e-commerce entity and is sold to the consumers directly.” The main feature of inventory model is that the customer buys the product from the ecommerce firm. He manages an inventory (stock of products), interfaces with customers, runs logistics and involves in every aspects of the business. Alibaba of China is following the inventory model.
Statement 2 is not correct: According to the FDI policy guideline, “Marketplace model of e-commerce means providing of an information technology platform by an e-commerce entity on a digital and electronic network to act as a facilitator between buyer and seller.” Marketplaces are platforms that enable a large, fragmented base of buyers and sellers to discover price and transact with one another in an environment that is efficient, transparent and trusted. The main feature of the market place model is that the e-commerce firm like flipkart, snapdeal, amazon etc. will be providing a platform for customers to interact with a selected number of sellers. When an individual is purchasing a product from flipkart, he will be actually buying it from a registered seller in flipkart. The product is not directly sold by flipkart. Here, flipkart is just a website platform where a consumer meets a seller.
Inventory, stock management, logistics etc are not supposed to be actively done by the ecommerce firm.