DAY 80Quick read
DAY 80
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Question 1 of 10
1. Question
2 pointsConsider the following statements about National Investment Fund
1. It was constituted to channelize the proceeds from disinvestment of Central Public Sector Enterprises.
2. It is a ‘Public Account’ under the Government Accounts and the funds would remain there until withdrawn/invested for the approved purposes
3. NIF can be used for recapitalization of public sector banks and public sector insurance companies.
Which of the above statements are true?Correct
The corpus of NIF was to be of a permanent nature and NIF was to be professionally managed to provide sustainable returns to the Government, without depleting the corpus.
The Department for Investment and public asset management (DIPAM) under the Ministry of finance is the nodal agency for disinvestment. Disinvestment proceeds can help the government fund its fiscal deficit.Incorrect
The corpus of NIF was to be of a permanent nature and NIF was to be professionally managed to provide sustainable returns to the Government, without depleting the corpus.
The Department for Investment and public asset management (DIPAM) under the Ministry of finance is the nodal agency for disinvestment. Disinvestment proceeds can help the government fund its fiscal deficit. -
Question 2 of 10
2. Question
2 pointsConsider the following statements about GDP calculation
1.In 2015, the government adopted a new method for the calculation of GDP of the country.
2.Shifted from the Gross Domestic Product (GDP) at factor cost to the Gross Value Added at basic prices.
3.Changed base year used for calculations to 2004-05 from the previous 2011-12.
Which of the above statements are true?Correct
Changed base year used for calculations to 2011-12 from the previous 2004-05
Now the Ministry of Corporate Affairs MCA-21 database along with Index of Industrial Production (IIP) & Annual Survey of Industries (ASI) is used for evaluating GDP. These changes are in line with the United Nations System of National Accounts recommendationsIncorrect
Changed base year used for calculations to 2011-12 from the previous 2004-05
Now the Ministry of Corporate Affairs MCA-21 database along with Index of Industrial Production (IIP) & Annual Survey of Industries (ASI) is used for evaluating GDP. These changes are in line with the United Nations System of National Accounts recommendations -
Question 3 of 10
3. Question
2 pointsConsider the following statements about government debt
1.Government liabilities have been broadly classified as debt contracted against the Consolidated Fund of India (defined as Public Debt) and liabilities in the Public Account, called Other Liabilities. Public Debt is 41% of GDP, while other liabilities are 5.5% of GDP.
2.Public debt is further classified into internal (3% of GDP) and external debt (38% of GDP). Government dated securities and Treasury Bills, issued through auctions, together comprises marketable debtWhich of the above statements are true?
Correct
Internal debt is 38% of GDP. External debt is 3% of GDP.
Intermediate Treasury Bills issued to State Governments and select Central Banks, special securities issued to National Small Savings Fund (NSSF), securities issued to international financial institutions, etc., are part of nonmarketable internal debt. Other Liabilities include liabilities on account of Provident Funds, Reserve Funds and Deposits.Incorrect
Internal debt is 38% of GDP. External debt is 3% of GDP.
Intermediate Treasury Bills issued to State Governments and select Central Banks, special securities issued to National Small Savings Fund (NSSF), securities issued to international financial institutions, etc., are part of nonmarketable internal debt. Other Liabilities include liabilities on account of Provident Funds, Reserve Funds and Deposits. -
Question 4 of 10
4. Question
2 pointsWhich of the following are members of the Financial Stability and Development Council?
1.It is chaired by the Prime Minister
2.Members include Minister of State, in charge of Department of Economic Affairs
3.Finance Secretary and/or Secretary of Department of Economic Affairs
4.Secretary, Ministry of Corporate Affairs
Choose the correct answer using the code given belowCorrect
FSDC is chaired by the Union Finance Minister. It deals with issues relating to financial stability, financial sector development, inter– regulatory coordination, financial literacy, financial inclusion and macro prudential supervision of the economy including the functioning of large financial conglomerates.
Incorrect
FSDC is chaired by the Union Finance Minister. It deals with issues relating to financial stability, financial sector development, inter– regulatory coordination, financial literacy, financial inclusion and macro prudential supervision of the economy including the functioning of large financial conglomerates.
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Question 5 of 10
5. Question
2 pointsConsider the following statements about rice crop
1. Rice requires temperature between 22-32°C with high humidity.
2. India is the second largest producer of rice in the world after China.
3. Rice requires deep clayey and loamy soil
Which of the above statements are true?Correct
In states like Assam, West Bengal and Odisha, three crops of paddy are grown in a year. These are Aus, Aman and Boro. National Food Security Mission, Hybrid Rice Seed Production and Rashtriya Krishi Vikas Yojana are few government initiatives to support rice cultivation.
Incorrect
In states like Assam, West Bengal and Odisha, three crops of paddy are grown in a year. These are Aus, Aman and Boro. National Food Security Mission, Hybrid Rice Seed Production and Rashtriya Krishi Vikas Yojana are few government initiatives to support rice cultivation.
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Question 6 of 10
6. Question
2 pointsConsider the following statements about the coffee crop
1.Coffee cultivation in India is mostly confined to black and arid soils. The soils differ in texture from sandy loam to clayey loam.
2.Arabica (Coffee Arabica) and robusta (coffea canephora) are the two principal economic species extensively cultivated in India
3.Poor subsoil moisture in Southern latitudes and cold winter temperatures in Northern latitudes can be limiting factors on coffee growth.
Which of the above statements are true?Correct
Solution (b)
Coffee crops in India belong to the red and lateritic soils. The soils differ in texture from sandy loam to clayey loam. Red ferruginous clays occur in tracts e.g. Bababudangiri in Karnataka and the Nilgiris in Tamil Nadu. They have good aggregating ability and are generally well-drained. They are rich in organic matter and are acidic to neutral. They respond well to liming, manuring and other soil management practices.Incorrect
Solution (b)
Coffee crops in India belong to the red and lateritic soils. The soils differ in texture from sandy loam to clayey loam. Red ferruginous clays occur in tracts e.g. Bababudangiri in Karnataka and the Nilgiris in Tamil Nadu. They have good aggregating ability and are generally well-drained. They are rich in organic matter and are acidic to neutral. They respond well to liming, manuring and other soil management practices. -
Question 7 of 10
7. Question
2 pointsMatch the following agricultural terms with their meanings
Choose the correct answer using the codes given belowCorrect
Incorrect
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Question 8 of 10
8. Question
2 pointsConsider the following statements about National Infrastructure Pipeline
1. A task force headed by Economic Affairs Secretary was set up to prepare a roadmap for the “National Infrastructure Pipeline (NIP)” from 2019-20 to 2024-25 to form a Rs.10 lakh crores plan.
2. Sectors such as power, railways, urban, irrigation, mobility, education, digital and health sectors form the bulk of the proposed projects.
Which of the above statements are true?Correct
The roadmap is to form INR 100 lakh crore plan. The Centre and states’ contribution to the NIP would be 39 percent each as well as 22 per cent by the private sector which is expected to increase to 30% by 2025. Overcoming the deficiencies in infrastructure and improving the quality of services provided in both urban and rural areas in India will help in realising the full potential of the growing urban economy thus raising its contribution to India’s GDP
Incorrect
The roadmap is to form INR 100 lakh crore plan. The Centre and states’ contribution to the NIP would be 39 percent each as well as 22 per cent by the private sector which is expected to increase to 30% by 2025. Overcoming the deficiencies in infrastructure and improving the quality of services provided in both urban and rural areas in India will help in realising the full potential of the growing urban economy thus raising its contribution to India’s GDP
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Question 9 of 10
9. Question
2 pointsConsider the following statements regarding restructuring of railway board
1.Cabinet has approved the merger of eight ‘Group A’ services into one central service called the Indian Railway Management Service (IRMS).
2.Currently, Indian railways departments are vertically separated and are each headed by a secretary-level officer (member) in the Railway Board.Which of the above statements are true?
Correct
Unification of services will streamline operations and provide flexibility in how they deploy people. It will lead to the end of turf wars among the different cadres and departments which were harming railway operations. Unification of eight existing services of Indian Railways for IRMS will be done at all levels. All new recruits in railways will be inducted through the UPSC civil services exams.
Incorrect
Unification of services will streamline operations and provide flexibility in how they deploy people. It will lead to the end of turf wars among the different cadres and departments which were harming railway operations. Unification of eight existing services of Indian Railways for IRMS will be done at all levels. All new recruits in railways will be inducted through the UPSC civil services exams.
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Question 10 of 10
10. Question
2 pointsConsider the following statements about Swachh Survekshan
1.Swachh Survekshan is a ranking exercise taken up by the Government of India to assess rural and urban areas for their levels of cleanliness and active implementation of Swachh Bharat Mission initiatives
2.The Ministry of Environment, Forest and Climate change conducts the survey. The primary goal of Swachh Survekshans is to encourage large scale citizen participation and create awareness.Which of the above statements are true?
Correct
The surveys are carried out by the Quality Council of India. The Ministry of Urban Development, Government of India takes up the Swachh Survekshan in urban areas and the Ministry of Drinking Water and Sanitation in rural areas. Indore has been awarded the cleanest city in the country in the SS 2019 awards while Bhopal has been declared as the cleanest capital.
Incorrect
The surveys are carried out by the Quality Council of India. The Ministry of Urban Development, Government of India takes up the Swachh Survekshan in urban areas and the Ministry of Drinking Water and Sanitation in rural areas. Indore has been awarded the cleanest city in the country in the SS 2019 awards while Bhopal has been declared as the cleanest capital.
