NABARD launched a special pilot project in 2004-05 called _______ mainly to fulfil the credit needs of the small and marginal farmers and tenant farmers.
- A.JLGs
- B.MEDP
- C.SGSY
- D.BLP programme
Correct answer
Explanation
The correct answer is A, JLGs. 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. A JLG is an informal group of roughly four to ten farmers of the same village who take a bank loan together and stand guarantee for one another, so the trust within the group takes the place of collateral. The pilot ran through selected banks in a few states, worked well, and was then adopted as a regular channel of farm credit alongside the older self-help group route. B is wrong because MEDP is NABARD's Micro Enterprise Development Programme, a skill training effort for members of mature SHGs. C is wrong because SGSY was a self-employment scheme of the rural development ministry. D is wrong because the SHG Bank Linkage Programme began in 1992 and mainly serves women's savings groups. Exam tip: JLG pilot 2004-05, tenant and oral lessee farmers, joint guarantee and no collateral.
Practice Questions
View allAccording to the law of diminishing marginal utility, as the amount of a good consumed increases, the marginal utility of that good tends to
- A.improve
- B.diminish
- C.remain constant
- D.first diminish and then improve
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Each extra unit of a good gives a consumer less additional satisfaction than the unit before it, so marginal utility falls as consumption rises.
Read the full explanation →Consider the following statements about impact of tax : 1. A tax is shifted forward to consumers if the demand is inelastic relative to supply. 2. A tax is shifted backward to producers if the supply is relatively more inelastic than demand. Which of the statements given above is/are correct?
- A.1 only
- B.2 only
- C.Both 1 and 2
- D.Neither 1 nor 2
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The burden of a tax falls more heavily on whichever side of the market is less elastic, the side that cannot easily walk away.
Read the full explanation →UBI, as an alternative for subsidies in poverty alleviation, stands for
- A.Union Basic Income
- B.Undefined Basic Income
- C.Unconditional Basic Income
- D.Universal Basic Income
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UBI is the idea of paying every citizen a fixed sum of money regularly, without conditions, in place of a large number of separate subsidies and welfare schemes.
Read the full explanation →Who among the following is the Chairman of the Fourteenth Finance Commission?
- A.C. Rangarajan
- B.Vijay Kelkar
- C.Y. V. Reddy
- D.Rakesh Mohan
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The Fourteenth Finance Commission, set up in 2013 for the award period 2015-2020, was chaired by Y. V. Reddy, a former Governor of the Reserve Bank of India.
Read the full explanation →Why was constitutional amendment needed for introducing GST?
- A.States were not willing to agree with the Union for introduction of GST without amendment in the Constitution.
- B.GST was to be implemented on concurrent base and Article 246 was inadequate for such a case.
- C.The Empowered Committee of Finance Ministers had recommended for constitutional amendment.
- D.The GST Council had recommended for constitutional amendment so that its power enhances.
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GST is levied by the Union and the States together on the same supply, and Article 246, which splits taxing powers between them through separate lists, did not allow such a concurrent tax.
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