Indian Economy Mixed Quiz: Set 19

An inward-looking trade strategy, better known as import substitution, was the policy India followed from the Second Five Year Plan until 1991, and it rested on two instruments.

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'.

Foreign investors bring in foreign exchange and look for predictable rules, and the difficulty most often listed for India is regulatory uncertainty: changing rules, clearances spread across departments and states, and disputes that take long to settle.

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.

NABARD started a pilot project on Joint Liability Groups in 2004-05 so that small, marginal and tenant farmers, who often till land they do not own, could borrow without the land papers a bank usually demands.

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.

India allows 100 per cent foreign direct investment through the automatic route in the construction, operation and maintenance of rail infrastructure projects.

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.

Self-reliance, the goal set out in India's early plans, means building the capacity to produce at home what the country would otherwise have to buy abroad, so the true indicator is that imports of such goods are avoided.

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

FERA treated foreign exchange as a scarce resource, forbade most dealings unless permitted and made breaches criminal offences.

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.

The balance of trade, also called the merchandise or visible balance, is the difference between the value of goods exported and goods imported; nothing else enters it.

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.

India accepted the obligations of Article VIII of the Articles of Agreement of the International Monetary Fund in August 1994, which means the rupee can be exchanged freely for trade in goods and services, travel, education, remittances and interest payments.

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

In August 1994 India accepted the obligations of Article VIII of the International Monetary Fund and made the rupee fully convertible on the current account, so that foreign exchange for trade, travel, education and remittances could be obtained freely at the market rate.

Small savings such as deposits in post office schemes are domestic rupee liabilities of the government and have nothing to do with the country's external assets.

GATT was signed in 1947 as a provisional agreement on tariff reduction, and after the Uruguay Round it was replaced on 1 January 1995 by the World Trade Organization, a permanent body with headquarters at Geneva and a binding dispute settlement system.

Since the unification of the exchange rate in March 1993 the value of the rupee has been determined by demand and supply in the foreign exchange market, while the Reserve Bank intervenes by buying or selling dollars to curb sharp volatility rather than to defend any particular level.