When did the Union Government establish a separate 'Ministry of Cooperation' with the vision of "Sahkar Se Samriddhi" ?
- A.2014
- B.2016
- C.2018
- D.2021
Correct answer
Explanation
The correct answer is D, 2021. The Union Government created a separate Ministry of Cooperation on 6 July 2021 to strengthen the cooperative movement under the vision "Sahkar Se Samriddhi" (prosperity through cooperation).
Before 2021, cooperatives were looked after by a department in the Ministry of Agriculture. The new ministry was given the job of providing a separate administrative, legal and policy framework for cooperatives, easing business for them and helping multi-state cooperatives grow. Amit Shah became the first Minister of Cooperation. Cooperatives already had constitutional backing through the 97th Amendment of 2011, which added Part IX-B, the right to form cooperative societies in Article 19(1)(c) and Article 43-B in the Directive Principles.
Option A is wrong because no such ministry was formed in 2014. Option B is wrong because 2016 saw no change in how cooperatives were administered. Option C is wrong because in 2018 cooperatives were still handled within the Agriculture Ministry.
Exam tip: Ministry of Cooperation = 6 July 2021, "Sahkar Se Samriddhi"; 97th Amendment (2011) = Part IX-B on cooperatives.
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
Show answer
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.
Show answer
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.
Read the full explanation →