Indian Economy Mixed Quiz: Set 59

The size is deliberate: large enough for the pooled savings to be useful and for the group to stand behind each loan, and small enough for every member to attend a weekly meeting, know every other member and keep the accounts without outside help.

The one rupee note is issued by the Government of India under the Coinage Act and carries the signature of the Finance Secretary, while every other denomination is a banknote issued by the Reserve Bank under Section 22 of its Act and carries the signature of the Governor.

The rupee symbol was adopted by the Union Cabinet on 15 July 2010 after a public competition, and the winning design by D. Udaya Kumar, then a research scholar at the Indian Institute of Technology Bombay, joins the Devanagari letter ra with the Roman capital R and carries two parallel…

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 correct answer is B, Verghese Kurien, who built the dairy cooperative of Kaira district at Anand in Gujarat, known by the brand name Amul, and then carried the Anand pattern across the country through the National Dairy Development Board, whose Operation Flood began in 1970 and made India the…

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…

The High Denomination Bank Notes (Demonetisation) Act was passed in January 1978, when the Janata Party government led by Morarji Desai was in office, and it withdrew the notes of one thousand, five thousand and ten thousand rupees that had been reintroduced in 1954.

When one input is kept fixed and another is added again and again, each extra unit eventually adds less to output than the one before.

Kudumbashree, which means prosperity of the family, was launched in 1998 as a poverty eradication and women's empowerment mission of the State government working through neighbourhood groups, area development societies and community development societies, and it is among the largest women's networks in the country.

The IIP compares the physical quantity of goods produced in a month with the quantity produced in the base year, taking a weighted average of those quantity relatives, so it rises only when more is actually made and is untouched by a change in prices.

The notes of five hundred and one thousand rupees in the Mahatma Gandhi series ceased to be legal tender from the midnight of 8 November 2016, the stated purposes being action against unaccounted money, counterfeit currency and the financing of terrorism; a new five hundred rupee note and a two…

The Special Economic Zones Act was passed by Parliament in 2005 and was brought into force in February 2006 together with the Special Economic Zones Rules, giving the zones a single law of their own in place of a chapter of the trade policy.

The correct answer is A, the Ministry of Rural Development, which runs the mission to organise poor rural households, mainly women, into self-help groups, give each group a revolving fund and a community investment fund, federate the groups at village and cluster level and arrange bank credit with interest subvention.

Concluded in 1975 under the auspices of the United Nations Economic and Social Commission for Asia and the Pacific, it was renamed the Asia-Pacific Trade Agreement in 2005 and its members are India, Bangladesh, China, South Korea, Sri Lanka, Laos and Mongolia.

On 19 May 2023 the Reserve Bank announced the withdrawal of the two thousand rupee note from circulation under its Clean Note Policy and asked banks to stop issuing it, while making it clear that the note was not being demonetised and would remain legal tender; holders were given a…

PMAY-Gramin raised the minimum unit size to 25 square metres, which must include a dedicated area for hygienic cooking, an increase over the 20 square metres allowed under the Indira Awaas Yojana.

Muhammad Yunus began lending very small sums to poor women in groups, without collateral, and the experiment became the Grameen Bank; he and the bank were awarded the Nobel Peace Prize in 2006, and the model was studied by every country that later took up microfinance.

An enterprise belongs to the organised sector when it is registered with the government and follows labour laws, so that employment is regular and secure and workers get fixed hours, paid leave, provident fund and medical benefits.

Every banknote above one rupee is issued by the Reserve Bank under Section 22 of its Act and carries the promise to pay the bearer, signed by the Governor, which is why these notes are called promissory notes of the Bank.

Decimal coinage came into force on 1 April 1957 under the Indian Coinage Amendment Act, and the rupee, which had earlier been divided into sixteen annas, each of four pice or twelve pies, was divided into one hundred paise; the new coin was called the naya paisa until 1964, when…