Indian Economy GK Questions with Answers – Page 24

Her return is earned outside India, so it is not in India's GDP, but it is earned by an Indian resident, so it counts in India's national income.

It is the umbrella scheme of the Ministry of Food Processing Industries for building modern infrastructure and an efficient supply chain from farm gate to retail outlet.

Import cover is the number of months of imports a country could pay for with its foreign exchange reserves. It is worked out by dividing a country's total international reserves by its average monthly import bill.

As lender of last resort, the RBI provides liquidity to banks facing a temporary crisis, so only statement 2 fits.

Statements 1 and 3 are correct; WaterCredit is not a WHO or World Bank initiative. WaterCredit was created by Water.org, the non-profit co-founded by Gary White and Matt Damon.

Its weaknesses led to the Balwant Rai Mehta Committee of 1957, whose recommendation of democratic decentralisation gave India panchayati raj.

It organises poor rural women into self help groups, federates them at the village and block level, and supports them with a revolving fund, a community investment fund and interest subvention on bank loans.

The Pradhan Mantri Gram Sadak Yojana was launched on 25 December 2000 to connect unconnected habitations with all weather roads, generally those with a population above five hundred in the plains and above two hundred and fifty in hill, tribal and desert areas, and it later added the upgradation of…

At least sixty per cent of the cost of the works must go on wages and not more than forty per cent on material, so that the scheme remains an employment programme rather than a construction programme.

The correct answer is C, Section 17, which makes the Gram Sabha responsible for monitoring the execution of works within the panchayat and for conducting a regular social audit of all the projects taken up under the scheme, with every record open to public inspection.

Priority has to be given to women in such a way that at least one third of the beneficiaries are women who have registered and asked for work, and the Act also requires equal wages for women and men for the same work.

The Act requires that work be provided ordinarily within five kilometres of the village of the applicant, and if the worksite is farther away, the worker is paid an extra ten per cent of the wage rate to meet the cost of travel and living.

If employment is not provided within fifteen days of the application, or of the date from which work is sought, whichever is later, the applicant becomes entitled to an unemployment allowance, which the State Government pays from its own funds.

The Act was renamed on Gandhi Jayanti in 2009, and from then it has been known as MGNREGA, the Mahatma Gandhi National Rural Employment Guarantee Act.

The correct answer is B, 2 February 2006, when the Act came into force in 200 of the poorest districts of the country, the first launch taking place at Bandlapalli in the Anantapur district of Andhra Pradesh.

Section 3 of the Act obliges the State Government to provide at least one hundred days of unskilled manual wage employment in a financial year to every rural household whose adult members volunteer for such work, and the guarantee belongs to the household, not to each member.

The scheme, a component of the National Mission on Sustainable Agriculture, groups farmers into clusters, supports them with training and inputs for organic cultivation, and certifies the produce through the Participatory Guarantee System of India, in which groups of farmers inspect and vouch for one another.

The scheme, launched in 2019, is a voluntary and contributory pension arrangement for small and marginal farmers between eighteen and forty years of age; the farmer contributes a monthly amount that depends on the age of entry, the Union government contributes an equal amount, and a pension of three thousand…

Launched in 2015, it brings irrigation work under one umbrella with the Accelerated Irrigation Benefit Programme for major and medium projects, Har Khet Ko Pani for creating new sources, Per Drop More Crop for drip and sprinkler micro-irrigation, and watershed development for rainfed areas.

Acting on the report of the R. V. Gupta committee, the scheme was introduced in 1998 and the model was prepared by NABARD for commercial banks, regional rural banks and cooperative banks.