What is true about economic development?
I. It is a continuous process
II. It measures both the quantitative and qualitative aspects of change in national income
III. It is a long-term process
Mark the correct code:
ANSWER – B
- It is a discontinuous process
- It measures both the quantitative and qualitative aspects of change in national income
- It is a long-term process
What is true regarding national income at constant prices?
National Income at Constant Prices
- If goods and services produced in a year are valued at constant prices, that is, prices of the base year, we get national income at constant prices.
- For example, the CSO treats 2011-2012 as the base year in India, and if the goods and services produced in 2019-2020 are valued at prices prevailing in 2011-2012 (base year prices), then it will be called national income at constant prices for the year 2019-2020.
- It is change in volume of physical output produced during the year, which affects national income at constant prices because prices remain constant.
- National income at constant prices is also called real national income.
Which of the following statement is true with regard to negative impact of Green Revolution in India?
I. The Green Revolution was crop specific and region specific, and created interpersonal and regional inequalities.
II. The use of HYV seeds displaced indigenous species and agricultural system that had been built up over generations.
III. The in-migration of labor is believed to have depressed wage rate of labor in Punjab.
Mark the correct code:
- The Green Revolution was crop specific and region specific, and created interpersonal and regional inequalities.
- The use of HYV seeds displaced indigenous species and agricultural system that had been built up over generations.
- The in-migration of labor is believed to have depressed wage rate of labor in Punjab.
If the tax rate increases with the higher level of income, it is called
- With a progressive tax, the tax burden is higher for the wealthy than it is for those with lower incomes. This kind of tax helps lower-income families pay for basics such as shelter, food, and transportation. A progressive tax allows them to spend a larger share of their incomes on cost-of-living expenses.
What is true about Green Revolution in India?
I. Green Revolution was launched in the Rabi season of 1966.
II. M.S. Randhawa is called the father of Green Revolution in Punjab.
Mark the correct code:
- Green Revolution was launched in the Kharif season of 1966.
- Norman Borlaug is hailed as “the father of Green Revolution,” “agriculture’s greatest spokesperson,” and “the man who saved a billion lives.”
- The noted agriculture scientist M.S. Swaminathan is hailed as the father of Green Revolution in India.
- M.S. Randhawa, the former civil servant, botanist, and historian is called the father of Green Revolution in Punjab.
Consider the following reports:
I. Global Financial Stability Report
II. World Economic Outlook
III. World Governance Indicators
Which of the above is/are published by IMF?
Reports by IMF:
- Global Financial Stability Report.
- World Economic Outlook.
World Economic Outlook
- It is a survey by the IMF that is usually published twice a year in the months of April and October. It analyzes and predicts global economic developments during the near and medium term.
Which of the following is a form of hidden inflation and is also referred to as package downsizing?
Shrinkflation is the practice of reducing the size of a product while maintaining its sticker price. Raising the price per given amount is a strategy employed by companies, mainly in the food and beverage industries, to stealthily boost profit margins or maintain them in the face of rising input costs.
With reference of the ‘Banks Board Bureau (BBB)’, which of the following statements are correct? (UPSC 2022)
1.The Governor of RBI is the Chairman of BBB.
2. BBB recommends for the selection of heads for Public Sector Banks.
3. BBB helps the Public Sector Banks in Developing strategies and capital raising plans.
Select the correct answer using the code given below:
- The government has transformed Banks Board Bureau (BBB) into Financial Services Institutions Bureau (FSIB) by making some amendments.
- BBB is a self-governing autonomous and advisory body of the Central Government to improve the management of public sector banks.
- Statement 1 is incorrect: The Chairman is selected by the central government and the RBI governor does not head it.
- Statements 2 and 3 are correct: Banks Board Bureau recommends the selection of head for Public Sector Banks. It also develops strategies for raising capital and improving the performance of PSBs.
Match List 1 and List 2 and choose the correct answer
LIST 1 A. Pink revolution List 2 1) Meat
List 1 B. Silver revolution List 2 2) Egg
List 1 C. Brown revolution List 2 3) Horticulture
List 1 D. Golden revolution List 2 4) Cocoa
Consider the following statement:
I. Foreign exchange reserves are assets held on reserve by a central bank in foreign currencies.
II.India's Forex Reserve include Foreign Currency Assets and Gold reserves only.
Which of the above statement is/are correct?
Foreign Exchange Reserves
- Foreign exchange reserves are assets held on reserve by a central bank in foreign currencies, which can include bonds, treasury bills and other government securities.
- It needs to be noted that most foreign exchange reserves are held in US dollars.
- India’s Forex Reserve include:
- Foreign Currency Assets
- Gold reserves
- Special Drawing Rights
- Reserve Tranche Position with the International Monetary Fund (IMF).