The rule that minimum support price should be at least one and a half times the all-India weighted average cost of production was announced in which Union Budget?

The correct answer is Union Budget 2018-19. The rabi price revision for marketing season 2027-28 was described as being in line with the announcement made in that Budget, which set the benchmark of fixing a floor price at no less than one and a half times the all-India weighted average cost of production. Options A, C and D name other Budget years and are wrong, because the one-and-a-half-times benchmark is tied only to the 2018-19 announcement and has been the reference point for every later revision of mandated crop prices. The cost used in the calculation is a paid-out cost with the imputed value of family labour added, covering hired human labour, bullock and machine labour, rent for leased land, seed, fertiliser and manure, irrigation charges, depreciation on implements and farm buildings, interest on working capital and fuel or power for pump sets.