Indian Economy Quiz: Day 27

December 2, 2022

Which of the following is/are correct regarding Pradhan Mantri Kisan Samman Nidhi?
1. It is a central government scheme.
2. The scheme provides an annual income support of Rs 6,000 to all landholding farmer families in India.
Select the correct answer using the codes given below:

(A) 1 only
(B) 2 only
(C) Both 1 and 2
(D) Neither 1 nor 2

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Answer: (c)

Pradhan Mantri Kisan Samman Nidhi (PM-Kisan)It is a central government scheme.
The scheme provides an annual income support of Rs 6,000to all landholding farmer families in India

How many of the below given pair(s) is/are correctly matched w.r.t. Pradhan Mantri MUDRA Yojana?
1. Shishu loans up to Rs. 50,000
2. Kishore loans up to Rs. 5 lakh
3. Tarun loans up to Rs. 10 lakh

(A) 1 pair only
(B) 2 pairs only
(C) All the pairs
(D) None of the pairs

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Answer: (c)

Which one of the following links all the ATMs in India?

(A) Reserve Bank of India
(B) National Securities Depository Limited
(C) Indian Banks' Association
(D) National Payments Corporation of India

Show Answer

Answer: (d)

National Payments Corporation of India (NPCI)

It is an umbrella organisation for operating retail payments and settlement systems in India. It is an initiative of Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007.
It has been incorporated as a “Not for Profit” Company under the provisions of Section 25 of Companies Act 1956 (now Section 8 of Companies Act 2013).

Recognising that economic growth can’t be the only objective of national plan, this plan had set ‘monitorable targets’ for few key indicators of development besides 8% growth target. The targets included reduction in gender gaps in literacy and wage rate, reduction in Infant & maternal mortality rates, improvement in literacy, access to potable drinking water cleaning of major polluted rivers, etc. Identify the plan?

(A) 7th five year plan
(B) 9th five year plan
(C) 10th five year plan
(D) 5th five year plan

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Answer: (c)

Which of the following statements is/are incorrect?
A pre-launch celebration of the International Year of Millets 2023 was organised by the Ministry of Agriculture and Ministry of External Affairs.
2. In 2021, the United Nations General Assembly (UNGA) adopted a resolution to declare 2023 as the International Year of Millets.
Select the correct answer using the codes given below:

(A) 1 only
(B) 2 only
(C) Both 1 and 2
(D) Neither 1 nor 2

Show Answer

Answer: (d)

Recently, a pre-launch celebration of the International Year of Millets 2023was organised by the Ministry of Agriculture and Ministry of External Affairs.
In 2021, the United Nations General Assembly (UNGA)adopted a resolution to declare 2023 as the International Year of Millets

Consider the following statements:
1. The Labour force participation rate is the percentage of the working-age (15 years or older) population that is asking for a job.
2. It includes those who are employed and those who are unemployed.
Select the correct statement(s) using the codes below:

(A) 1 only
(B) 2 only
(C) Both 1 and 2
(D) Neither 1 nor 2

Show Answer

Answer: (c)

The LFPR essentially is the percentage of the working-age (15 years or older) population that is asking for a job; it represents the “demand” for jobs in an economy.
It includes those who are employed and those who are unemployed.

Which of the following is/are correct regarding National Ropeways Development Programme ‘Parvatmala?
1. Ministry of Tourism is its nodal ministry.
2. The aim of the programme is to develop ropeways in hilly areas of the country in a Public-Private Partnership (PPP) mode.
Select the answer using the codes given below:

(A) 1 only
(B) 2 only
(C) Both 1 and 2
(D) Neither 1 nor 2

Show Answer

Answer: (b)

The Ministry of Road Transport and Highways (MORTH) will be the nodal ministry. The aim of the programme is to develop ropeways in hilly areas of the country in a Public-Private Partnership (PPP) mode.
Around 8 ropeway projects for a length of 60 km would be awarded in 2022-23.

Which of the following is/are correct regarding the Udyam portal?
1 It is fully integrated with Income Tax and GST IN (Goods and Services Tax Identification Number) systems.
2. It is a registration portal for MSMEs.
Select the answer using the codes below:

(A) 1 only
(B) 2 only
(C) Both 1 and 2
(D) Neither 1 nor 2

Show Answer

Answer: (c)

Global Financial Stability Report was released by which of the following?

(A) World Trade Organization
(B) Organisation for Economic Cooperation and Development
(C) International Monetary Fund
(D) World Bank

Show Answer

Answer: (c)

Consider the following statements:
1 India was one of the founder members of General Agreement on Trade and Tariffs.
2. The first round of GATT was held in Tokyo in the year 1947.
Select the correct statement(s) using the codes given below:

(A) 1 only
(B) 2 only
(C) Both 1 and 2
(D) None of the above

Show Answer

Answer: (a)

GATT was signed by 23 countries in 1947.
India was one of the founder members of GATT.
GATT’s primary purpose was to increase International Trade by reducing various tariffs, quotas and subsidies while maintaining meaningful regulations.

Rounds of GATT

First in Geneva (Switzerland) (1947)
Second in Annecy (France) in 1949
Third in Torquay (UK) in 1950 – 51
Fourth, fifth, and Sixth in Geneva (Switzerland) in 1956, 1960-61, 1964 -67.
Seventh in Tokyo (Japan) in 1973 – 79
Eighth and final round at Punta del Este (Uruguay) in 1986 – 1994, known as ‘Uruguay Round’.

Which of the following statement(s) is/are correct?
1 Reverse Repo is the interest rate at which the RBI absorbs liquidity, on an overnight basis, from banks against the collateral of eligible government securities.
2. Statutory Liquidity Ratio (SLR) is a minimum percentage of deposits that a commercial bank has to maintain in the form of liquid cash, gold or other securities.
Select the answer using the codes given below:

(A) 1 only
(B) 2 only
(C) Both 1 and 2
(D) Neither 1 nor 2

Show Answer

Answer: (c)

Which of the following is correct regarding Heli-India Summit?

(A) The fourth Heli-India Summit 2022 was organised in Srinagar.
(B) The theme for the 4th summit is ‘Helicopters for last Mile Connectivity.
(C) The broad objectives of the Summit are to Promote tourism in the Himalayan states.
(D) All of the above

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Answer: (d)

The broad objectives of the Summit are to Promote tourism in the Himalayan states by providing uninterrupted helicopter services to the tourist hotspots and Encourage Helicopterbased emergency medical services (HEMS) in India.

Which of the following statement(s) is/are correct Monetary Policy Committee (MPC)?
1 It was constituted under section 45ZB of the Reserve Bank of India Act, 1934.
2. The MPC is required to meet at least six times in a year.
Select the answer using the codes given below:

(A) 1 only
(B) 2 only
(C) Both 1 and 2
(D) Neither 1 nor 2

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Answer: (a)

Which of the following statement(s) is/are correct regarding Multidimensional Poverty Index?
1 The global Multidimensional Poverty Index (MPI) is an international measure of acute multidimensional poverty covering over 100 developing countries.
2. The global MPI is produced annually by OPHI in collaboration with UNDP’s Human Development Report Office.
Select the answer using the codes given below:

(A) 1 only
(B) 2 only
(C) Both 1 and 2
(D) Neither 1 nor 2

Show Answer

Answer: (c)

The global MPI is produced annually by OPHI in the University of Oxford in collaboration with United Nations Development Programme’s Human Development Report Office (UNDP HDRO).

Which of the following statement(s) is/are correct?
1 The e₹-R would be in the form of a digital token that represents legal tender.
2. It would be issued in the same denominations as paper currency and coins are currently issued and would be distributed through banks.
Select the answer using the codes given below:

(A) 1 only
(B) 2 only
(C) Both 1 and 2
(D) Neither 1 nor 2

Show Answer

Answer: (c)

The Reserve Bank of India (RBI) on November 29 announced that the first pilot for the retail version of the digital rupee e₹-R would be introduced on December 1, 2022.

It may be recalled that the RBI had on October 31 indicated that the pilot in e₹-R would commence in a month’s time.

The pilot would cover select locations in closed user groups (CUG) comprising participating customers and merchants.

The e₹-R would be in the form of a digital token that represents legal tender.

It would be issued in the same denominations as paper currency and coins are currently issued and would be distributed through banks.