11. The implementation of which among the following programmes is/ was based upon the concept of the Self Help Groups (SHGs)?
[A] National Rural Employment Guarantee Act
[B] Sampoorna Grameen Rozgar Yojna
[C] Swarna Jayanti Gram Swarozgar Yojna
[D] National Food for Work Programme
Answer: C [Swarna Jayanti Gram Swarozgar Yojna]
Notes:
The Swarnjayanti Gram Swarozgar Yojana (SGSY) was launched as an integrated programme for self-employment of the rural poor with effect from 1 April 1999. The objective of the scheme is to bring the assisted poor families above the poverty line by organizing them into Self Help Groups (SHGs) through the process of social mobilization, their training and capacity building and provision of income generating assets through a mix of bank credit and government subsidy.
12. With respect to ‘Operating ratio’ in Railways, which of the following statement is/are correct?
1. The higher is the ‘Operating Ratio’; the better is the economic condition of railways.
2. ‘Operating ratio’ of Indian Railways is high on account of social service obligation imposed in Budget.
Select the correct option from the codes given below
[A] Only 1
[B] Only 2
[C] Both 1 & 2
[D] Neither 1 nor 2
Answer: B [Only 2 ]
Notes:
First statement is incorrect, as Operating Ratio is defined as the money spends by railway to earn a Rupee. Hence lesser the operating ratio betters the economic condition for Railways. Second statement is correct.
13. With reference to the Statutory Liquidity Ratio (SLR), consider the following observations:
1. Banks can keep cash, government bonds as well as gold to meet their SLR requirements
2. SLR is one of the means to finance government’s fiscal deficit
Which of the above is / are correct statements?
[A] Only 1
[B] Only 2
[C] Both 1 & 2
[D] Neither 1 nor 2
Answer: C [Both 1 & 2]
Notes:
The Economic Survey has made a case to bring down the SLR gradually while discussing about the “double financial repression” being faced by the PSU banks. On one side, they need to keep higher protion of their assets as SLR while on the other hand, they have to comply with the Priority sector requirements. This is what has been called “double financial repression”. SLR The Statutory Liquidity Ratio is a requirement on banks to hold a certain share of their resources in liquid assets such as cash, government bonds and gold. In principle, the SLR can perform a prudential role because any unexpected demand from depositors can be quickly met by liquidating these assets. SLR requirements have traditionally been high. From 38 per cent in the period before 1991, there was a dramatic decline to about 25 per cent at the end of the 1990s. Since then however, the number has hovered around the quarter century mark, only recently falling to 22 per cent. As of Feb 4, 2015 the minimum requirement is 21.5 per cent of total assets. Banks typically keep more than the required SLR, the current realised SLR is in fact over 25 per cent. In practice, the SLR has become a means of financing (at less than market rates presumably) a bulk of the government’s fiscal deficit, suggesting that SLR cuts are related to the government’s fiscal position.
14. The term CIPAM, which was recently in news, is associated to:
[A] Demonetization
[B] Intellectual Property Rights
[C] Cross Border Management
[D] Goods and Services Tax (GST)
Answer: B [Intellectual Property Rights]
Notes:
The cell for IPR Promotion and Management (CIPAM) under the aegis of the Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce & Industry, aims to ensure effective implementation of the National IPR Policy 2016. CIPAM is also collaborating with the International Trademark Association (INTA) to launch an IPR Awareness campaign for school children, which would spread the message on IPRs in a creative and engaging manner.
15. After which five year plan, ‘The Rolling plan’ was implemented?
[A] Third Plan
[B] Seventh plan
[C] Fifth plan
[D] Ninth Plan
Answer: C [Fifth plan]
Notes:
Rolling Plan (1979–1980) The Janata Party government rejected the Fifth Five-Year Plan and introduced a new Sixth Five-Year Plan (1978–1980).
16. Which among the following is correct regarding the supply curve?
[A] It is relation between price of good and quantity produced
[B] It is a negatively sloped curve
[C] It is relation between price and quantity supplied
[D] None of the above
Answer: C [It is relation between price and quantity supplied]
Notes:
The supply curve reflects the relationship between the price and quantity supplied graphically. It is a positively sloped curve. It becomes flatter in the long run as price becomes constant after a certain time.
17. What is Market equilibrium?
[A] Quantity demanded greater than quantity supplied
[B] Quantity demanded less than quantity supplied
[C] Quantity demanded equal to quantity supplied
[D] Quantity demanded is same as quantity produced
Answer: C [Quantity demanded equal to quantity supplied]
Notes:
Market equilibrium is defined by equality between quantity demanded and quantity supplied in the market. The equilibrium price is the price of a good or service when the supply of it is equal to the demand for it in the market.
18. Which organization calculates GDP in India?
[A] CSO
[B] NSSO
[C] Department of Economic Affairs
[D] ISO
Answer: A [CSO]
Notes:
The Central Statistics Office (CSO), under the Ministry of Statistics and Program Implementation(MoSPI), is the responsible authority for macroeconomic data gathering and statistical record keeping. They publish the GDP
19. Which economist made a lasting impact on Japan following the 1868 Meiji revolution?
[A] Francis Fukuyama
[B] Fukuzawa Yukichi
[C] Takero Doi
[D] None of the above
Answer: B [Fukuzawa Yukichi]
Notes:
FUKUZAWA YUKICHI (1834-1901) was an author, entrepreneur, and political theorist. Yukichi’s ideas made a lasting impact on Japan following the 1868 Meiji Revolution, which saw the restoration of imperial rule in Japan and set in train its economic modernization.
20. Which of the following activities comes under the primary sector?
1. Fishing
2. Pisciculture
3. Apiculture
4. Manufacturing
5. Internet of things
Choose the correct option from the codes given below:
[A] 1 and 2 only
[B] 1, 4 and 5 only
[C] 4 and 5 only
[D] 1, 2 and 3 only
Answer: D [1, 2 and 3 only]
Notes:
In the Primary sector of the economy, activities are undertaken by directly using natural resources. Agriculture, Mining, Fishing, Forestry, Dairy etc. are some examples of this sector. It is also called the Agriculture and allied sector.