Indian Economy Mixed Quiz: Set 90

Per capita GDP is total output divided by total population, and it can be broken into three parts that multiply together.

The Authority was created under the Warehousing (Development and Regulation) Act, 2007 to register warehouses and to regulate negotiable warehouse receipts, which allow a farmer to deposit produce in a registered warehouse, receive a receipt, raise a loan against it from a bank and sell the goods later instead of…

Statements I and II are true, but the Ninth Plan began in 1997, the fiftieth year of Independence, not the sixtieth.

The Unit Trust of India was established in 1963 by an Act of Parliament and launched its first scheme, Unit Scheme 1964 or US-64, in the following year; it held a monopoly of the business until 1987.

M1, called narrow money, is the most liquid measure of money supply in India. It is made up of currency with the public, demand deposits with banks, and other deposits with the Reserve Bank of India.

National Consumer Day marks the day on which the Consumer Protection Act, 1986 received the assent of the President of India, and it is observed every year with campaigns on consumer rights and on the machinery available for redressal.

Adam Smith laid down four canons of taxation, and fiscal adequacy was not one of them; it was added by later economists.

The expression comes from the Micro, Small and Medium Enterprises Development Act, which came into force on 2 October 2006 and gave the sector its first statutory definition, replacing the older language of small scale and ancillary industrial undertakings.

The Union excise levied on petrol and diesel has three parts. Basic Excise Duty is an ordinary Union tax, so it goes into the divisible pool and a share of it reaches the states as recommended by the Finance Commission under Article 270.

The Survey is written in the Economic Division of the Department of Economic Affairs in the Ministry of Finance, under the overall supervision of the Chief Economic Adviser, and is laid before both Houses of Parliament, usually a day before the Union Budget.

The Suresh Tendulkar expert group, which reported to the Planning Commission in 2009, deliberately moved away from the old calorie-based poverty line.

The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act of 2002 lets a secured creditor issue a notice to a defaulting borrower and then take possession of and sell the secured asset without going to court, and it also provides for asset reconstruction companies that buy…

A fully (perfectly) elastic supply curve is a horizontal line: sellers will supply any quantity at one fixed price and nothing below it.

The Pradhan Mantri Jan Dhan Yojana was launched on 28 August 2014 as the national mission for financial inclusion, offering a zero-balance Basic Savings Bank Deposit Account, a RuPay debit card with accident insurance cover and an overdraft facility for accounts operated satisfactorily.

Proposed by Franco Modigliani with Richard Brumberg and Albert Ando, it holds that a person plans consumption over a whole lifetime, using available resources, the return on wealth and age.

The Reserve Bank appointed the Committee to Review the Arrangements for Institutional Credit for Agriculture and Rural Development, known as CRAFICARD, in 1979 under the chairmanship of B. Sivaraman, and its recommendation led to the NABARD Act, 1981 and the creation of NABARD in 1982.

SAGY is run by the Ministry of Rural Development, not the Ministry of Parliamentary Affairs, so statement 1 is wrong.

Mission Indradhanush aims to raise full immunisation coverage among children, and it also covers pregnant women. The Ministry of Health and Family Welfare launched it on 25 December 2014 to reach children who had been left out or only partly vaccinated under the routine Universal Immunisation Programme.

The financial cycle is the rise and fall of credit and asset prices, and the ratio of credit to GDP shows how far borrowing has run ahead of the economy.

Under the nutrition indicator, a household is deprived if any one eligible member is undernourished, and a woman of 15 to 49 with a BMI below 18.5 counts as undernourished.