Indian Economy Mixed Quiz: Set 78

A subsidy neither creates an asset for the government nor reduces any liability, so in the budget it is classified as revenue expenditure, and a large subsidy bill therefore widens the revenue deficit as well as the fiscal deficit.

The NAV is the per unit book value of a scheme: take the market value of all the securities and cash the scheme holds, subtract its liabilities and accrued expenses, and divide by the number of units outstanding.

In an SIP the same sum is invested at fixed intervals, so it automatically buys more units when the NAV is low and fewer when it is high; over a full market cycle the average cost per unit therefore works out lower than a lump sum invested at a high…

Industrial corridors are linear development belts built along a transport spine to speed up industrial growth, but they do not link all State capitals.

Section 7 of the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016 permits the central or a state government to require proof of an Aadhaar number, or of having applied for one, for any subsidy, benefit or service whose expenditure is met from the Consolidated…

It is headed by a sitting or retired judge of the Supreme Court, hears complaints above the pecuniary limit prescribed for the State Commissions, and also hears appeals from them.

The Pension Fund Regulatory and Development Authority, which was given statutory status by the PFRDA Act of 2013, regulates the National Pension System and the Atal Pension Yojana, appoints the pension fund managers and the central record keeping agency, and prescribes the Tier I and Tier II account structure.

The Nikkei 225 is the benchmark index of the Tokyo Stock Exchange and is named after Nihon Keizai Shimbun, the newspaper that has compiled it since the 1950s; it covers 225 leading Japanese companies.

The committee headed by Shanta Kumar submitted its report in 2015 and recommended that the coverage of the National Food Security Act be reduced, that procurement and storage be handed over in part to the states, and that the grain subsidy be gradually replaced by cash transfers into bank accounts.

The Economic Survey of 2014-15 used the expression JAM number trinity for these three, because together they make it possible to send money to a poor household without a middleman: the Jan Dhan account receives the payment, the Aadhaar number identifies the beneficiary and removes duplicate names, and the mobile…

An open-ended scheme has no fixed maturity; the fund house keeps creating and cancelling units, so an investor may buy or redeem on any working day at the NAV declared for that day, which is why most schemes sold today are open-ended.

Walking through the villages of the Telangana region in 1951 he asked landowners to treat the landless as their own kin and to gift a share of their land, and the first such gift at Pochampally began the Bhoodan or land gift movement, later extended as Gramdan, the gift of…

The Act provides that the ration card shall be issued in the name of the eldest woman of the household who is eighteen years of age or more, and that if there is no such woman, the eldest male member holds the card until a female member of eighteen years…

Marx published the first volume of Das Kapital in 1867; it analysed capital, surplus value and the exploitation of labour and became the basic text of what is called scientific socialism.

A ULIP is sold by an insurance company, which puts one part of the premium towards life cover and invests the rest in funds chosen by the policyholder; because the contract is a policy of insurance, it is regulated by the Insurance Regulatory and Development Authority of India, set up…

Make in India was launched on 25 September 2014 as a national programme to make India a global hub of design and manufacturing, and it is implemented by the Department for Promotion of Industry and Internal Trade under the Ministry of Commerce and Industry.

An implicit subsidy does not appear in the budget as a payment; it is hidden in the low price at which a public service is provided, so that the government simply recovers less than it spends, as happens with canal water and with electricity supplied to farms.

Rubber products are not among the Eight Core Industries tracked by the Index of Eight Core Industries.

The account is opened by a guardian in the name of a girl child before she completes ten years of age, deposits are made for the first fifteen years, and the account matures twenty-one years from the date it was opened; a part withdrawal is allowed for higher education after…

Darjeeling tea, grown on the hill slopes of the Darjeeling district of West Bengal, was the first product registered under the Geographical Indications of Goods Registration and Protection Act of 1999 after the Act came into force, and the Tea Board of India holds the registration.