Indian Economy Mixed Quiz: Set 55

A lower CRR means banks must park less money with the RBI, so they have more to lend, and lending creates more money.

PM-KISAN was announced in the interim budget of February 2019 and formally launched on 24 February 2019 from Gorakhpur in eastern Uttar Pradesh, with the first instalment released there, although the scheme was given effect from 1 December 2018.

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.

Necessities and luxuries are matched correctly, but an inferior good has a negative income elasticity, not a positive one. Income elasticity of demand is the percentage change in quantity demanded divided by the percentage change in income.

The National Mission for Saffron, meant to revive saffron cultivation in Jammu and Kashmir through better corms, irrigation and a spice park, runs as a sub-scheme of the Rashtriya Krishi Vikas Yojana, the umbrella fund started in 2007 that lets States plan their own agricultural projects.

The central obligation of a zone unit is a positive net foreign exchange earning, that is the value of its exports must exceed the value of its imports, measured over a block of five years counted from the date the unit begins production, and not year by year.

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 declaration was timed for the 150th birth anniversary of Mahatma Gandhi, exactly five years after the mission was launched, and the second phase then began with the goal of ODF Plus villages that sustain the status and manage solid and liquid waste.

PM-KISAN pays each eligible landholding farmer family two thousand rupees every four months, that is six thousand rupees a year, straight into an Aadhaar-seeded bank account; the whole cost is borne by the Union government because it is a central sector scheme.

Elasticity measures how strongly the quantity demanded reacts to price, and zero means no reaction at all. Price elasticity of demand is the percentage change in quantity demanded divided by the percentage change in price.

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.

Agriculture and its allied activities still give work to the largest number of Indians, even though the sector's contribution to national income is far smaller than that share of employment would suggest.

The scheme fixed a uniform maximum premium for the farmer: two per cent of the sum insured for kharif food and oilseed crops, one and a half per cent for rabi food and oilseed crops, and five per cent for annual commercial and horticultural crops, with the balance of the…

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.

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.

Under the Reserve Bank's prudential norms on income recognition and asset classification, an asset stops being a performing asset when interest or an instalment of principal remains overdue for more than ninety days, and the bank must then stop treating the interest as income and start making provisions.

The scheme was launched on 19 February 2015 from Suratgarh in Sri Ganganagar district, and it gives every holding a card showing the status of the main nutrients and the physical properties of the soil, with crop-wise advice on fertiliser and manure, renewed on a fixed cycle so that the…

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.

Set up in 1965 as the Agricultural Prices Commission and renamed in 1985, it is an attached office of the Ministry of Agriculture and Farmers Welfare that studies costs of production and recommends the minimum support price for the mandated crops; the final decision is taken by the Cabinet Committee…

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.