Indian Economy Mixed Quiz: Set 18

The balance of payments is the statement that records every economic transaction between the residents of a country and the rest of the world in a given period, which is precisely what the external sector of an economy means; it covers merchandise trade, services, income, transfers and capital flows.

Rural cooperative credit societies were the microfinance structure already in place when India became independent.

Statement 1 is right because the NEER is a trade weighted index of the rupee against a basket of partner currencies, so a rise in the index means the rupee has appreciated in nominal terms.

This law makes the right to work a legal guarantee: every rural household whose adult members are willing to do unskilled manual work is entitled to at least 100 days of wage employment in a financial year.

SEBI is the regulator of the securities market, and protecting the interests of investors is the first duty written into its founding law.

It is a private sector joint venture, not a public sector insurer. SBI Life was set up in 2001 as a partnership between the State Bank of India and BNP Paribas Cardif of France.

The Smart Cities Mission was launched on 25 June 2015 by the Ministry of Housing and Urban Affairs for 100 cities, chosen through a two-stage City Challenge competition in which states nominated cities and the cities then sent in their own proposals.

The National Bank for Agriculture and Rural Development was set up on 12 July 1982.

The International Bank for Reconstruction and Development (IBRD) is the oldest arm of the World Bank Group and the body people mean when they say 'World Bank'.

The Foreign Exchange Management Act was passed in 1999 and came into force on 1 June 2000, replacing the Foreign Exchange Regulation Act of 1973.

In the SDG India Index 2023-24, the fourth edition brought out by NITI Aayog in July 2024, the states' composite scores ran from 57 at the bottom to 79 at the top, with Uttarakhand and Kerala sharing the highest score of 79 and Bihar the lowest at 57.

Consumer theory studies how a household decides to spend its money among the goods and services available to it. The idea rests on three things: the wants of the consumer, the prices of goods, and the income in hand, which is the budget constraint.

E-Shakti was launched by NABARD in 2015 to put the accounts and records of self-help groups on a digital platform.

IBM and Coca-Cola wound up their Indian operations in 1977 rather than dilute their holdings to 40 per cent. The Foreign Exchange Regulation Act, passed in 1973, required foreign companies to cut their equity in Indian subsidiaries to that level and to obtain permission for most dealings in foreign exchange.

Statement I is right, because a government security, or G-Sec, is a tradeable debt instrument issued by the central government or by a state government and can be bought and sold in the secondary market before it matures.

India's literacy rate at independence in 1947 is put at about 12 per cent. Colonial education reached only a thin urban layer, and the figure for women was far lower, around six per cent.

India allows foreign direct investment of up to 100 per cent through the automatic route in railway infrastructure.

The Aatmanirbhar Bharat Rojgar Yojana was announced in October 2020 as part of the Aatmanirbhar Bharat package, to bring back the jobs lost during the Covid-19 lockdown.

Export security is not a recognised category of trade barrier; it is not a device that restricts the movement of goods across a border.

Statement 1 is right because when the United States Federal Reserve tightens, returns there become attractive and portfolio money flows out of emerging markets, which is capital flight.