ECONOMICS MCQS

FRAMED FROM WIKEPEDIA Q.1 Who among the following are the members of Shanghai Cooperation Organisation ? 1. China 2. Kyrgyzstan 3. Kazakhstan 4. Russia 5. Tajikistan 6. Uzbekistan Which among the above statement(s) is/are correct ? A) 1,2,3 B) 2,3,4,5,6 C) 1,2,3,5,6 D) All are correct Ans. D Since 2005, India was having an Observer status of SCO and had applied for full membership in 2014. FRAMED FROM WIKEPEDIA Q.2 Which among the following have the observer status in shanghai Cooperation ? 1. Mongolia 2. Iran 3. Pakistan 4. India Which among the above statement(s) is/are correct ? A) 1,3,4 B) 2,3,4 C) Only 4 D) All are correct Ans. D It was established in 2001 & it comprises China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, Uzbekistan FRAMED FROM WIKEPEDIA Q.3 Who among the following are the members of SAARC ? 1. Bhutan 2. Bangladesh 3. Myanmar 4. Pakistan 5. Sri Lanka Select the correct answer using the code given below : A) 1,2,4,5 B) 1 & 5 C) 2,3,4 D) 1,2,3,4,5 Ans. A The South Asian Association for Regional Cooperation (SAARC) is regional intergovernmental organization and geopoliticalunion in South Asia. Its member states include Afghanistan, Bangladesh, Bhutan, India, Nepal, the Maldives, Pakistan and Sri Lanka. SAARC compromises 3% of the world’s area, 21% of the world’s population and 9.12% of the global economy, as of 2015. SAARC was founded in Dhaka in 1985. Its secretariat is based in Kathmandu. The organization promotes development economics and regional integration. It launched the South Asian Free Trade Area in 2006. SAARC maintains permanent diplomatic relations at the UN as an observer and has developed links with multilateral entities, including the EU. However, the organization continues to face many challenges. Disputes between nuclear rivals India and Pakistan have often clouded the union’s potential and progress. FRAMED FROM WIKEPEDIA Q.4 Who among the following  are the members of the Washington Accord ? 1. India 2. China 3. Malaysia 4. South Africa Which among the above is/are correct ? A) 1,3,4 B) Only 1 & 2 C) Only 3 D) 1,2,3,4 Ans. D * The Washington Accord is an international accreditation agreement for professional engineering academic degrees, between the bodies responsible for accreditation in its signatory countries. *The Washington Accord covers undergraduate engineering degrees under Outcome-based education approach. *Engineering technology and postgraduate programs are not covered by the accord, although some engineering technology programs are covered under the Sydney Accord and the Dublin Accord. *Only qualifications awarded after the signatory country or region became part of the Washington Accord are recognized. *The accord is not directly responsible for the licensing of Professional Engineers and the registration of Chartered Engineers, but it does cover the academic requirements that are part of the licensing processes in signatory countries. *India became the permanent member of the Washington Accord *It is an esteemed international treaty on engineering studies and mobility of engineers across signatory countries including the US, the UK and Australia signatories are: Australia, Canada, Chinese Taipei, Hong Kong China, India, Ireland, Japan, Korea, Malaysia, New Zealand, Russia, Singapore, South Africa, Turkey, the United Kingdom, and the United States. *The treaty covers undergraduate engineering degrees under Outcome-based education approach. The accord doesn’t take into account engineering technology and postgraduate programs. QUESTION LIFTED FROM PRATIYOGITA DARPAN Q.5 Which of the following is a Decentralised Autonomous Organisation ? A) Venture Capital fund B) Trade association C) Market regulator D) Financial regulator Ans. A *It is an organization that is run through rules encoded as computer programs called smart contracts. *A DAO’s financial transaction record and program rules are maintained on a blockchain. *There are several examples of this business model. The precise legal status of this type of business organization is unclear. FRAMED FROM WIKEPEDIA Q.6 Who among the following are the members of the Indian Ocean Rim Association ? 1. India 2. Australia 3. Indonesia 4. Malaysia Select the correct answer using the codes given below : A) 1,3,4 B) 2,3,4 C) 1,2,3 D) 1,2,3,4 Ans. D The objectives of IORA are as follows : 1.  To promote sustainable growth and balanced development of the region and member states 2.  To focus on those areas of economic cooperation which provide maximum opportunities for development, shared interest and mutual benefits 3.  To promote liberalisation, remove impediments and lower barriers towards a freer and enhanced flow of goods, services, investment, and technology within the Indian Ocean rim. FRAMED FROM WIKEPDIA Q.7 Which among the following is the oldest international financial institution ? 1.  Bank for International Settlement 2. International Monetary Fund 3. International Bank for Reconstruction & Development 4. International Trade Organisation Which among the above is/are correct ? A) 1 & 3 B) Only 1 C) 1,3,4 D) Only 3 Ans. B *International financial institution (IFI) is a financial institution that has been established by more than one country, and hence are subjects of international law. *Its owners or shareholders are generally national governments, although other international institutions and other organizations occasionally figure as shareholders. *The most prominent IFIs are creations of multiple nations, although some bilateral financial institutions (created by two countries) exist and are technically IFIs. The best known IFIs were established after World War II to assist in the reconstruction of Europe and provide mechanisms for international cooperation in managing the global financial system. *Today, the world’s largest IFI is the European Investment Bank *A multilateral development bank (MDB) is an institution, created by a group of countries, that provides financing and professional advising for the purpose of development. * MDBs have large memberships including both developed donor countries and developing borrower countries. * MDBs finance projects in the form of long-term loans at market rates, very-long-term loans below market rates, and through grants. *There are also several “sub-regional” multilateral development banks. *Their membership typically includes only borrowing nations. The banks lend to their members, borrowing from the international capital markets. -These banks include: • Caribbean Development Bank (CDB) • Central American Bank for Economic Integration (CABEI) •

Q.1 Consider the following: 1. Fringe Benefit Tax 2. Interest Tax 3. Securities Transaction Tax Which of the above is/ are Direct Tax/Taxes? A)1 only     B) 1 and 3 only C) 2 and 3 only D) 1, 2 and 3 Ans. D Fringe Benefit Tax: The fringe benefits tax (FBT) was the tax applied to most, although not all, fringe benefits in India. A new tax was imposed on employers by India’s Finance Act 2005 was introduced for the financial year commencing April 1, 2005. The fringe benefit tax was temporarily suspended in the 2009 Union budget of India by Finance Minister Pranab Mukherjee. The following items were covered: • Employer’s expenses on entertainment, travel, employee welfare and accommodation. The definition of fringe benefits that have become taxable has been significantly extended. The law provides an exact list of taxable items. • Employer’s provision of employee transportation to work or a cash allowances for this purpose. • Employer’s contributions to an approved retirement plan (called a superannuation fund). • Employee stock option plans (ESOPs) have also been brought under fringe benefits tax from the fiscal year 2007–08. Minimum Support Price : Minimum Support Price (MSP) is a form of market intervention by the Government of India to insure agricultural producers against any sharp fall in farm prices. The minimum support prices are announced by the Government of India at the beginning of the sowing season for certain crops on the basis of the recommendations of the Commission for Agricultural Costs and Prices (CACP). MSP is price fixed by Government of India to protect the producer – farmers – against excessive fall in price during bumper production years. The minimum support prices are a guarantee price for their produce from the Government. The major objectives are to support the farmers from distress sales and to procure food grains for public distribution. In case the market price for the commodity falls below the announced minimum price due to bumper production and glut in the market, government agencies purchase the entire quantity offered by the farmers at the announced minimum price. In formulating the recommendations in respect of the level of minimum support prices and other non-price measures, the Commission takes into account, apart from a comprehensive view of the entire structure of the economy of a particular commodity or group of commodities, the following factors:- • Cost of production • Changes in input prices • Input-output price parity • Trends in market prices • Demand and supply • Inter-crop price parity • Effect on industrial cost structure • Effect on cost of living • Effect on general price level • International price situation • Parity between prices paid and prices received by the farmers. • Effect on issue prices and implications for subsidy The Commission makes use of both micro-level data and aggregates at the level of district, state and the country. The information/data used by the Commission, inter-alia include the following :- • Cost of cultivation per hectare and structure of costs in various regions of the country and changes there in; • Cost of production per quintal in various regions of the country and changes therein; • Prices of various inputs and changes therein; • Market prices of products and changes therein; • Prices of commodities sold by the farmers and of those purchased by them and changes therein; • Supply related information – area, yield and production, imports, exports and domestic availability and stocks with the Government/public agencies or industry; • Demand related information – total and per capita consumption, trends and capacity of the processing industry; • Prices in the international market and changes therein, demand and supply situation in the world market; • Prices of the derivatives of the farm products such as sugar, jaggery, jute goods, edible/non-edible oils and cotton yarn and changes therein; • Cost of processing of agricultural products and changes therein; • Cost of marketing – storage, transportation, processing, marketing services, taxes/fees and margins retained by market functionaries; and • Macro-economic variables such as general level of prices, consumer price indices and those reflecting monetary and fiscal factors. FRAMED FROM INVESTOPEDIA Q.2 Recently Bulldog bonds are in news, with reference to these bonds consider the following statements : 1. These are purchased from the sterling bonds in order to earn revenue 2. These bonds are similar to the Yankee bonds which can be sold to raise capital. 3. U.S. investors are restricted to purchase this bond as these are traded in United kingdom Select the correct answer using the codes given below : A) 2 & 3 B) Only 3 C) 1 & 2 D) Only 1 Ans. C A type of bond purchased by buyers interested in earning a revenue stream from the British pound or sterling. A bulldog bond is traded in the United Kingdom. If the revenue is used to reduce debt also in British pounds, the exchange rate risk is decreased. These bonds are issued by non-British institutions that want to sell the bond in the United Kingdom. U.S. investors can also purchase this bond, but by doing so they take on the risk of the change in value of the sterling. FRAMED FROM WIKEPEDIA Q.3 With reference to the International Renewable Energy Agency (IRENA), consider the following statements : 1. It is an intergovernmental organization to promote adoption and sustainable use of renewable energy. 2. It was founded in 2009 3. India is one of the 33 Permanent members of IRENA. Select the correct answer using the codes given below : A) Only 2 & 3 B) 1 & 2 C) 1 & 3 D) 1,2,3 Ans.D FRAMED FROM WIKEPEDIA Q.4 Consider the following statements regarding the features of the World Bank: 1. The Board of Governors is the Supreme body. 2. The voting power of the governor of a member country is related to the financial contribution of the country concerned. 3. It gives short-term loan to its members to correct their temporary balance of payments

FRAMED FROM LIVE MINT & WIKEPEDIA Q.1 With reference to the Pradhan Mantri Surakshit Matritva Abhiyan, consider the following statements : 1. This scheme is applicable only to the women during their pregnancy period 2. Tests will take place at the government hospitals only Select the correct answer using the codes given below : A) Only 1 B) Only 2 C) Both are correct D) Both are incorrect Ans. D The scheme is applicable only to the women in their pregnancy period of 3 to 6 months. Pradhan Mantri Surakshit Matritva Abhiyan or Yojana is a new initiative of the Narendra Modi Government launched on June 9, 2016. The scheme has been launched with the objective of boosting the health care facilities for the pregnant women, especially the poor. Under the Pradhan Mantri Surakshit Matritva Abhiyan, the pregnant ladies will be given free health check-up and required treatment for free on 9th of every month. The scheme will be applicable for pregnant women to avail in all Government hospitals across the country The scheme is applicable only for the pregnant women All kinds of medical checkups under this scheme will be completely free Tests will took place at the medical centers, government and private hospitals and private clinics across the country FRAMED FROM ECONOMIC SURVEY 2016-17 Q.2 With reference to the Trans-Atlantic Trade and Investment Partnership (TTIP), consider the following statements : 1.It is a proposed trade agreement between the India and the United States, with the aim of promoting trade and multilateral economic growth 2. The reports on the TTIP proposals can be accessed only by authorised persons 3. Creation of million of new jobs is one of the pillar of TTIP Select the correct answer using the codes given below : A) Only 3 B) 2 & 3 C) Only 1 & 2 D) All are correct Ans. B The Transatlantic Trade and Investment Partnership (TTIP) is a proposed trade agreement between the European Union and the United States, with the aim of promoting trade and multilateral economic growth. The American government considers the TTIP a companion agreement to the Trans-Pacific Partnership (TPP).The agreement is under ongoing negotiations and its main three broad areas are: market access; specific regulateon; and broader rules and principles and modes of co-operation. TTIP aims to “liberalise one-third of global trade” and could create millions of new jobs FRAMED FROM ECONOMIC SURVEY 2016-17 Q.3 With reference to the Unified payment interface consider the following statements : 1. It is a payment system regulated by the National Payments Corporation of India 2. It facilitates the fund transfer between two bank accounts on the mobile platform instantly Select the correct answer using the codes given below : A) Only 1 B) Only 2 C) Both are correct D) Both are incorrect Ans. B Unified Payments Interface (UPI) is a payment system launched by National Payments Corporation of India and regulated by Reserve Bank of India which facilitates the fund transfer between two bank accounts on the mobile platform instantly. UPI (Unified Payments Interface) is an advanced version of Immediate Payment Service(IMPS) platform designed for transferring funds using: Transfer through Virtual Payment Address (Unique ID provided by bank) or Account Number + IFSC or Mobile Number + MMID or Aadhaar Number or Collect / Pull money basis Virtual ID. An MPIN is given to the banking customer once they register for UPI which is required to be entered while confirming a money transfer. FRAMED FROM THE HINDU & WIKEPEDIA Q.4 Recently Kigali agreement has amended 1987 montreal protocol. With reference to this agreement consider the following statements ; 1. As per this agreement HFCs is the only gas responsible for global warming apart from other gases 2. 500 million us dollar is the amount of additional funding from developed countries 3. Kigali agreement will be binding on countries from 2019 Select the correct answer using the codes given below : A) Only 3 B) 1 & 2 C) Only 1 D) 2 & 3 Ans. A Amended Montreal Protocol which was initially conceived only to plug gases that were destroying the ozone layer now includes HFCs responsible for global warming. The exact amount of additional funding from developed countries will be agreed at the next Meeting of the Parties in Montreal in 2017. The Paris agreement which will come into force by 2020 is not legally binding on countries to cut their emissions. The Kigali Amendment is considered absolutely vital for reaching the Paris Agreement target of keeping global temperature rise to below 2-degree Celsius compared to pre-industrial times. FRAMED FROM THE HINDU Q.5 Recently India has signed Dollar credit line agreement with which of the following country ? A) China B) Nepal C) Pakistan D) Iran Ans. B FRAMED FROM ECONOMIC SURVEY 2016-17 Q.6 Which among the following commodities are covered under the Baltic Dry index ? 1. Coal 2. Grain 3. Iron Ore Select the correct answer using the codes given below : A) Only 3 B) 2 & 3 C) Only 1 & 2 D) All are correct Ans. D The Baltic Dry Index (BDI) is an economic indicator issued daily by the London-based Baltic Exchange. Not restricted to Baltic Sea countries, the index provides “an assessment” of the price of moving the major raw materials by sea. Taking in 23 shipping routes measured on a timecharter basis, the index covers Handysize, Supramax, Panamax, and Capesize dry bulk carriers carrying a range of commodities including coal, iron ore and grain. Most directly, the index measures the demand for shipping capacity versus the supply of dry bulk carriers. The demand for shipping varies with the amount of cargo that is being traded or moved in various markets (supply and demand). – Another index, the HARPEX, focuses on containers freight. It provides an insight on the transport of a much wider base of commercial goods than commodities alone. HARPEX is regarded as a Current-Activity Indicator, because it measures and charts the changes in freight

FRAMED FROM WIKIPEDIA Q.1 Who among the following are the members of the Boao Forum for Asia (BFA) ? 1. China 2. India 3. FICCI (Federation of Indian Chambers of Commerce) Select the correct answer using the codes given below : A) 1 & 3 B) Only 2 C) 2 & 3 D) 1,2,3 Ans.A A non-governmental and non-profit international organization with a fixed conference date and a fixed domicile. BFA was officially introduced on February 27, 2001. Since 2002, BFA has been having its yearly conference at Boao, Hainan Province, China which now serves as the permanent site of BFA Headquarters. Each year world’s Top political and business leaders gather at Boao to brain storm on global political and economic issues. Objectives : To base itself on Asia and encourage and deepen the economic exchange, coordination, and cooperation within Asia and between Asia and other parts of the world. To offer a high-end dialog platform for governments, enterprises, experts, and scholars to collectively talk about economy, society, and environment and other pertinent subject matters. FRAMED FROM WIKIPEDIA Q.2 Who among the following are not the members of the Arab League ? 1. Chad 2. Israel 3. South Sudan 4. Libya 5. Oman Select the correct answer using the codes given below : A) 3,4,5 B) Only 1 & 2 C) 1,2,5 D) All are the members Ans. B The Arab League was founded in Cairo in 1945 by  Egypt,  Iraq,  Lebanon, Saudi Arabia, Syria, Transjordan (Jordan from 1946) and Yemen (North Yemen, later combined Yemen). There was a continual increase in membership during the second half of the 20th century, with additional 15 Arab states and 4 observers being admitted. FRAMED FROM WIKIPEDIA Q.3 Which among the following are the members of the Central Asian Nuclear-Weapon-Free-Zone (CANWFZ) Treaty ? 1. Kazakhstan 2. Kyrgyzstan 3. Tajikistan 4. Turkmenistan 5. Uzbekistan Select the correct answer using the codes given below : A) 1 & 2 B) 1,3,5 C) 1,4,5 D) 1,2,3,4,5 Ans.D The CANWFZ Treaty was inked on September 8, 2006 in Semipalatinsk by the five Central Asian nations – Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan. It came into force on March 21, 2009. As chair of the CANWFZ Treaty, Kazakhstan has steered the negotiations with the five nuclear states on behalf of its Central Asian neighbors. Central-Asian parties to the CANWFZ treaty aim to make the region a nuclear-weapon free zone. For the zone to be recognized internationally, it also requires to get the so-called negative guarantees from the five nuclear weapon countries, meaning legally-binding assurances not to use nuclear weapons against the parties of the treaty and not to use the threat of the use of nuclear weapons against them. The Protocol signed on May 6, 2014 in New York provides all these guarantees.  The Protocol awaits ratification by the parliaments of the signing states enter into effect. Apart from the newly created Central-Asian zone, there are four other nuclear weapons free zones in the world, including in Africa, Latin America and the Caribbean, South-East Asia and the South Pacific. FRAMED FROM WIKIPEDIA Q.4 With reference to the IMF quota, consider the following statements 1. Each IMF member country is assigned a quota  that reflects the country’s relative size in the global economy 2. India’s IMF quota has been reduced since past years 3. The largest members of the IMF are the United States & India Select the correct answer using the codes given below : A) 1 & 3 B) Only 1 C) 2 & 3 D) 1,2,3 Ans. B The largest members of the IMF is the United States & Tuvalu is the lowest Each member’s quota also determines its relative voting power FRAMED FROM THE HINDU & WIKEPEDIA Q.5 Who among the following publishes Global Youth Development Index ? A) Commonwealth Secretariat B) World Economic Forum C) Security Council D) Global Innovation Ans. A India has been ranked 133rd out of 183 countries in the 2016 Global Youth Development Index (YDI) compiled by the Commonwealth Secretariat. The Global Youth Development Index report measures countries’ prospects for young people in employment, education, health, civic and political spheres. Q.6 India is a member of: 1. Asia-Pacific Economic Cooperation (APEC) 2. Asian Development Bank (ADB) 3. Organization for Economic Cooperation and Development (OECD) 4.World Trade Organization (WTO) Select the correct answer using the code given below: A) 1 and 3 only B) 2 and 4 C) 2,3 and 4 D) 1,2,3 and 4 Ans. B Q.7 With reference to the Pradhan Mantri Fasal Bima Yojana , consider the following statements : 1. Farmers will pay uniform premium of 2 per cent for all Kharif crops and 1.5 percent for all Rabi crops 2. provision of capping the premium rate has been removed 3. Encouragement of use of technology such as use of smart phones & remote sensing satellite Which among the above is/are correct ? A) 1 & 3 B) 2 & 3 C) 1 & 2 D) 1,2,3 Ans. D The new Crop Insurance Scheme has been formulated in line with One Nation–One Scheme theme.  It replaces existing two schemes viz. National Agricultural Insurance Scheme (MNAIS) and Modified National Agricultural Insurance Scheme (MNAIS) by removing their inherent drawbacks (shortcomings). There will be no upper limit subsidy given by Government even if balance premium is 90 percent. FRAMED FROM THE HINDU & WIKEPEDIA Q.8 A geographical indication is used for products that have a specific  geographical  origin. GI is governed by which of the following legal authorities : 1. WTO 2. TRIPS 3. Food & agriculture organization Select the correct answer using the codes given below : A) Only 3 B) 2 & 3 C) Only 1 & 2 D) All are correct Ans. C A geographical indication (GI) is a name or sign used on certain products which corresponds to a specific geographical location or origin (e.g. a town, region, or country). The GI tag is an indication which is definite to a geographical territory. It is

Q.1 Indo-China joint mechanism on the Brahmaputra river was aimed at : 1. Sharing river water 2. Sharing river water data 3. Sharing information on transboundary projects 4. Addressing concerns on dams in upper Brahmaputra Select the correct answer using the codes given below : A) 1,3,4 B) 2 & 3 C) Only 2 D) 1 & 2 Ans. B FRAMED FROM WIKIPEDIA Q.2 Who among the following  are the members of the Washington Accord ? 1. India 2. China 3. Malaysia 4. South Africa Select the correct answer using the codes given below : A) 1,3,4 B) Only 1 & 2 C) Only 3 D) 1,2,3,4 Ans. D * The Washington Accord is an international accreditation agreement for professional engineering academic degrees, between the bodies responsible for accreditation in its signatory countries. *The Washington Accord covers undergraduate engineering degrees under Outcome-based education approach. *Engineering technology and postgraduate programs are not covered by the accord, although some engineering technology programs are covered under the Sydney Accord and the Dublin Accord. *Only qualifications awarded after the signatory country or region became part of the Washington Accord are recognized. *The accord is not directly responsible for the licensing of Professional Engineers and the registration of Chartered Engineers, but it does cover the academic requirements that are part of the licensing processes in signatory countries. *India became the permanent member of the Washington Accord *It is an esteemed international treaty on engineering studies and mobility of engineers across signatory countries including the US, the UK and Australia signatories are: Australia, Canada, Chinese Taipei, Hong Kong China, India, Ireland, Japan, Korea, Malaysia, New Zealand, Russia, Singapore, South Africa, Turkey, the United Kingdom, and the United States. *The treaty covers undergraduate engineering degrees under Outcome-based education approach. The accord doesn’t take into account engineering technology and postgraduate programs. Q.3 What is meant by Deficit Financing ? A) Capital expenditure on items of public construction, public borrowing & public enterprises B) Difference in borrowing & external & internal resources C) Government’s expenditure on excess of revenue which causes a shortage in the budget therby making the government to finance its plans by borrowing D) Difference of the total expenditure & income from all the sources Ans. C *Deficit spending is the amount by which spending exceeds revenue over a particular period of time, also called simply deficit, or budget deficit; the opposite of budget surplus. *When the outlay of a government (i.e., the total of its purchases of goods and services, transfers in grants to individuals and corporations, and its net interest payments) exceeds its tax revenues, the government budget is said to be in deficit; government spending in excess of tax receipts is known as deficit spending. *Governments usually issue bonds to match their deficits. *They can be bought by its Central Bank through open market operations. Otherwise the debt issuance can increase the level of (i) public debt, (ii) private sector net worth, (iii) debt service (interest payments), and (iv) interest rates. *Deficit spending may, however, be consistent with public debt remaining stable as a proportion of GDP, depending on the level of GDP growth. *The opposite of a budget deficit is a budget surplus; in this case, tax revenues exceed government purchases and transfer payments. *For the public sector to be in deficit implies that the private sector (domestic and foreign) is in surplus. *An increase in public indebtedness must necessarily therefore correspond to an equal decrease in private sector net indebtedness. In other words, deficit spending permits the private sector to accumulate net worth. *Following John Maynard Keynes, many economists recommend deficit spending to moderate or end a recession, especially a severe one. *When the economy has high unemployment, an increase in government purchases creates a market for business output, creating income and encouraging increases in consumer spending, which creates further increases in the demand for business output. (This is the multiplier effect.) This raises the real gross domestic product (GDP) and the employment of labour, and if all else is constant, lowers the unemployment rate. (The connection between demand for GDP and unemployment is called Okun’s law.) *The increased size of the market, due to government deficits, can further stimulate the economy by raising business profitability and spurring optimism, which encourages private fixed investment in factories, machines, and the like to rise. This accelerator effect stimulates demand further and encourages rising employment. *Similarly, running a government surplus or reducing its deficit reduces consumer and business spending and raises unemployment. This can lower the inflation rate. Any use of the government deficit to steer the macro-economy is called fiscal policy. Q.4 Which among the following groups are adversely affected by inflation? 1. Wage earners in the informal sector 2. Profit earners 3. Salary earners with salary indexed to inflation 4. Pensioners with fixed pensions Select the correct answer using the codes given below : A) 1 & 4 B) 3 & 4 C) 1 & 2 D) 2 & 3 Ans. D FRAMED FROM wikipedia Q.5 With reference to the Pradhan Mantri Yuva Yojana, consider the following statements: 1. It is a centrally sponsored scheme 2. The scheme has been launched by the Ministry of youth affairs & sports 3. It provides easy access to information, mentor network, incubator, credit and accelerator to create a pathway for the youth. Select the correct answer using the codes given below : A) 1 & 3 B) Only 2 C) 2 & 3 D) 1,2,3 Ans. A The scheme has been launched by the Ministry of Skill Development and Entrepreneurship FRAMED FROM WIKIPEDIA Q.6 With reference to the common reporting standard, consider the following statements : 1. It is an agreement to share information on residents’ assets and incomes automatically in conformation with the standard 2. It is supposed to transfer all the relevant information automatically and systematically. 3. It  includes all 34 OECD countries Select the correct answer using the codes given below : A) 1 & 3 B) 2 & 3 C)

Q.1 Indo-China joint mechanism on the Brahmaputra river was aimed at : 1. Sharing river water 2. Sharing river water data 3. Sharing information on transboundary projects 4. Addressing concerns on dams in upper Brahmaputra Select the correct answer using the codes given below : A) 1,3,4 B) 2 & 3 C) Only 2 D) 1 & 2 Ans. B FRAMED FROM WIKIPEDIA Q.2 Who among the following  are the members of the Washington Accord ? 1. India 2. China 3. Malaysia 4. South Africa Select the correct answer using the codes given below : A) 1,3,4 B) Only 1 & 2 C) Only 3 D) 1,2,3,4 Ans. D * The Washington Accord is an international accreditation agreement for professional engineering academic degrees, between the bodies responsible for accreditation in its signatory countries. *The Washington Accord covers undergraduate engineering degrees under Outcome-based education approach. *Engineering technology and postgraduate programs are not covered by the accord, although some engineering technology programs are covered under the Sydney Accord and the Dublin Accord. *Only qualifications awarded after the signatory country or region became part of the Washington Accord are recognized. *The accord is not directly responsible for the licensing of Professional Engineers and the registration of Chartered Engineers, but it does cover the academic requirements that are part of the licensing processes in signatory countries. *India became the permanent member of the Washington Accord *It is an esteemed international treaty on engineering studies and mobility of engineers across signatory countries including the US, the UK and Australia signatories are: Australia, Canada, Chinese Taipei, Hong Kong China, India, Ireland, Japan, Korea, Malaysia, New Zealand, Russia, Singapore, South Africa, Turkey, the United Kingdom, and the United States. *The treaty covers undergraduate engineering degrees under Outcome-based education approach. The accord doesn’t take into account engineering technology and postgraduate programs. Q.3 What is meant by Deficit Financing ? A) Capital expenditure on items of public construction, public borrowing & public enterprises B) Difference in borrowing & external & internal resources C) Government’s expenditure on excess of revenue which causes a shortage in the budget therby making the government to finance its plans by borrowing D) Difference of the total expenditure & income from all the sources Ans. C *Deficit spending is the amount by which spending exceeds revenue over a particular period of time, also called simply deficit, or budget deficit; the opposite of budget surplus. *When the outlay of a government (i.e., the total of its purchases of goods and services, transfers in grants to individuals and corporations, and its net interest payments) exceeds its tax revenues, the government budget is said to be in deficit; government spending in excess of tax receipts is known as deficit spending. *Governments usually issue bonds to match their deficits. *They can be bought by its Central Bank through open market operations. Otherwise the debt issuance can increase the level of (i) public debt, (ii) private sector net worth, (iii) debt service (interest payments), and (iv) interest rates. *Deficit spending may, however, be consistent with public debt remaining stable as a proportion of GDP, depending on the level of GDP growth. *The opposite of a budget deficit is a budget surplus; in this case, tax revenues exceed government purchases and transfer payments. *For the public sector to be in deficit implies that the private sector (domestic and foreign) is in surplus. *An increase in public indebtedness must necessarily therefore correspond to an equal decrease in private sector net indebtedness. In other words, deficit spending permits the private sector to accumulate net worth. *Following John Maynard Keynes, many economists recommend deficit spending to moderate or end a recession, especially a severe one. *When the economy has high unemployment, an increase in government purchases creates a market for business output, creating income and encouraging increases in consumer spending, which creates further increases in the demand for business output. (This is the multiplier effect.) This raises the real gross domestic product (GDP) and the employment of labour, and if all else is constant, lowers the unemployment rate. (The connection between demand for GDP and unemployment is called Okun’s law.) *The increased size of the market, due to government deficits, can further stimulate the economy by raising business profitability and spurring optimism, which encourages private fixed investment in factories, machines, and the like to rise. This accelerator effect stimulates demand further and encourages rising employment. *Similarly, running a government surplus or reducing its deficit reduces consumer and business spending and raises unemployment. This can lower the inflation rate. Any use of the government deficit to steer the macro-economy is called fiscal policy. Q.4 Which among the following groups are adversely affected by inflation? 1. Wage earners in the informal sector 2. Profit earners 3. Salary earners with salary indexed to inflation 4. Pensioners with fixed pensions Select the correct answer using the codes given below : A) 1 & 4 B) 3 & 4 C) 1 & 2 D) 2 & 3 Ans. D FRAMED FROM wikipedia Q.5 With reference to the Pradhan Mantri Yuva Yojana, consider the following statements: 1. It is a centrally sponsored scheme 2. The scheme has been launched by the Ministry of youth affairs & sports 3. It provides easy access to information, mentor network, incubator, credit and accelerator to create a pathway for the youth. Select the correct answer using the codes given below : A) 1 & 3 B) Only 2 C) 2 & 3 D) 1,2,3 Ans. A The scheme has been launched by the Ministry of Skill Development and Entrepreneurship FRAMED FROM WIKIPEDIA Q.6 With reference to the common reporting standard, consider the following statements : 1. It is an agreement to share information on residents’ assets and incomes automatically in conformation with the standard 2. It is supposed to transfer all the relevant information automatically and systematically. 3. It  includes all 34 OECD countries Select the correct answer using the codes given below : A) 1 & 3 B) 2 & 3 C)

FRAMED FROM WIKIPEDIA Q.1 With reference to the news, what is 20:80 scheme of gold ? A) It is the central sponsored scheme representing the highest share of the central government as compared to the state government  B) It was introduced to bring down gold imports and narrow the current account deficit C) It is the central sponsored scheme for increasing the visible & invisible exports D) It was introduced to enhance the gold exports thereby reducing the fiscal deficit Ans. B The 20:80 import rule linking imports to exports was introduced last year to bring down gold imports and narrow the current account deficit that had hit a record of 4.8 per cent of GDP. Although legal import of gold declined in the subsequent months, the 20:80 rule was not only encouraging smuggling but it was also misused by many traders. FRAMED FROM WIKIPEDIA Q.2 Which among the following is/are the targets that have to be achieved under  the AMRUT scheme ? 1. Tap water & sewerage facilities 2. Internet & wifi facilities 3. Pollution reduction Select the correct answer using the codes given below : A) Only 1 B) 1 & 3 C) 2 & 3 D) 1,2,3 Ans. D The scheme was launched by Prime Minister Narendra Modi in June 2015 with the focus of the urban renewal projects is to establish infrastructure that could ensure adequate robust sewage networks and water supply for urban transformation. Rajasthan was the first state in the country to submit State Annual Action Plan under Atal Mission for Rejuvenation and Urban Transformation (AMRUT). About ₹1 lakh crore (US$16 billion) investment on urban development under Smart Cities Mission and the Atal Mission for Rejuvenation and Urban Transformation of 500 cities has already been approved by the government Some of the broad targets of AMRUT scheme are ascertaining that every one has access to tap water and sewerage facilities, greenery like parks and open spaces are well maintained, digital and smart facilities like weather prediction, internet and WiFi facilities, pollution reduction by encouraging the public for using cheaper but secure public transport etc. FRAMED FROM TIMES OF INDIA Q.3 Which among the following is/are the examples of the payment banks ? 1. Reliance Industries 2. Sun Pharmaceuticals 3. Paytm Select the correct answer using the codes given below : A) 1 & 3 B) Only 3 C) 2 & 3 D) 1,2,3 Ans. D Payments banks is a new model of banks conceptualised by the Reserve Bank of India (RBI). These banks can accept a restricted deposit, which is currently limited to ₹1 lakh per customer and may be increased further. These banks cannot issue loans and credit cards. Both current account and savings accounts can be operated by such banks. Payments banks can issue services like ATM cards, debit cards, net-banking and mobile-banking. Airtel has launched India’s first live payments bank.[1] Paytm is the second such service to be launched in the country. India Post Payments Bank is the third entity to receive payments bank permit after Bharti Airtel and Paytm. Aditya Birla group earned payments bank permit on 3 March 2017. The voting rights will be regulated by the Banking Regulation Act, 1949. The bank should be fully networked from the beginning. The bank can accept utility bills. It cannot form subsidiaries to undertake non-banking activities. The bank cannot undertake lending activities. The banks will be licensed as payments banks under Section 22 of the Banking Regulation Act, 1949, and will be registered as public limited company under the Companies Act, 2013. On 19 August 2015, the Reserve Bank of India gave “in-principle” licences to eleven entities to launch payments banks:[12][13] 1.      Aditya Birla Nuvo 2.      Airtel M Commerce Services 3.      Cholamandalam Distribution Services 4.      Department of Posts 5.      FINO PayTech 6.      National Securities Depository 7.      Reliance Industries 8.      Sun Pharmaceuticals 9.      Paytm 10.     Tech Mahindra 11.     Vodafone M-Pesa The “in-principle” license is valid for 18 months within which the entities must fulfil the requirements. They are not allowed to engage in banking activities within the period. The RBI will consider grant full licenses under Section 22 of the Banking Regulation Act, 1949, after it is satisfied that the conditions have been fulfilled. FRAMED FROM WIKIPEDIA Q.4 Which among the following is/are the members of the Eurasian Economic Union ? 1. Belarus 2. Russia 3. Kazakhstan 4. Uzbekistan Select the correct answer using the codes given below : A) 1,2,3 B) 3 & 4 C) 2,3,4 D) 1,2,3,4 Ans. A It is an economic union of states located primarily in northern Eurasia. A treaty aiming for the establishment of the EAEU was signed on 29 May 2014 by the leaders of Belarus, Kazakhstan and Russia, and came into force on 1 January 2015.Treaties aiming for Armenia’s and Kyrgyzstan’s accession to the Eurasian Economic Union were signed on 9 October and 23 December 2014, respectively. Armenia’s accession treaty came into force on 2 January 2015.Kyrgyzstan’s accession treaty came into effect on 6 August 2015.[11][12] It participated in the EAEU from the day of its establishment as an acceding state The day-to-day work of the EAEU is done through the Eurasian Economic Commission (the executive body), which is a supranational body similar to European Commission. There is also a judicial body – the Court of the EAEU The Eurasian Economic Union is located at the eastern end of Europe, bounded by the Arctic in the north, the Pacific Ocean to the east and East Asia, the Middle East and part of Central Asiato the south. The council is composed of the Vice Prime Ministers of the member states. The collegium is composed of twelve commissioners, one of which is the Chairman of the board FRAMED FROM RAMESH SINGH-INDIAN ECONOMICS Q.5  Which among the following is/are correct with respect to the  Corporate bond ? 1. It is issued by the corporation with maturity shorter than one year 2. These are traded in decentralized & over-the-counter markets Select the correct answer using the codes

FROM IES 2018 PRELIMS Q.1 What is crowdfunding ? A) Money collected for public welfare projects by levying an entry fee to exhibitions, shows etc. B) Money collected by charitable organisations by placing a donation box at a prominent locations C) Money raised by innovators & inventors by launching their products & services through the internet D) Money raised by individuals by passing the hat around to onlookers at a street performance Ans. C Crowdfunding is the practice of funding a project or venture by raising many small amounts of money from a large number of people, typically via the Internet.[1] Crowdfunding is a form of crowdsourcing and of alternative finance. In 2015, it was estimated that worldwide over US$34 billion was raised this way the term crowdfunding refers to Internet-mediated registries. This modern crowdfunding model is generally based on three types of actors: the project initiator who proposes the idea and/or project to be funded, individuals or groups who support the idea, and a moderating organization (the “platform”) that brings the parties together to launch the idea. Crowdfunding has been used to fund a wide range of for-profit entrepreneurial ventures such as artistic and creative projects, medical expenses, travel, or community-oriented social entrepreneurship projects War bonds are theoretically a form of crowdfunding military conflicts. The Crowdfunding Centre’s May 2014 report identified two primary types of crowdfunding: 1.    Rewards crowdfunding: entrepreneurs presell a product or service to launch a business concept without incurring debt or sacrificing equity/shares. 2.    Equity crowdfunding: the backer receives shares of a company, usually in its early stages, in exchange for the money pledged FROM IES 2018 PRELIMS Q.2 The meaning of carbon footprint is described by the amount of : A) Carbon dioxide released into the atmosphere as a result of the activities of a particular individual, organization or community B) Greenhouse gases emitted by industries contributing to global warming C) Carbon emissions released by the burning of jet fuel D) Increase in the carbon content of the atmosphere due to the felling of trees Ans. A A carbon footprint is historically defined as the total set of greenhouse gas emissions caused by an individual, event, organisation, or product, expressed as carbon dioxide equivalent A measure of the total amount of carbon dioxide (CO2) and methane (CH4) emissions of a defined population, system or activity, considering all relevant sources, sinks and storage within the spatial and temporal boundary of the population, system or activity of interest. Calculated as carbon dioxide equivalent using the relevant 100-year global warming potential(GWP100). Carbon footprint is one of a family of footprint indicators, which also includes water footprint and land footprint. •     4Indirect carbon emissions: the carbon footprints of products o     4.1Food o     4.2Textiles o     4.3Materials o     4.4Cement •     5Schemes to reduce carbon emissions: Kyoto Protocol, carbon offsetting, and certificates Carbon dioxide emissions into the atmosphere, and the emissions of other GHGs, are often associated with the burning of fossil fuels, like natural gas, crude oil and coal. The Kyoto Protocol defines legally binding targets and timetables for cutting the GHG emissions of industrialized countries that ratified the Kyoto Protocol. Accordingly, from an economic or market perspective, one has to distinguish between a mandatory market and a voluntary market. Typical for both markets is the trade with emission certificates: •     Certified Emission Reduction (CER) •     Emission Reduction Unit (ERU) •     Verified Emission Reduction (VER) local emissions reduction schemes have no status under the Kyoto Protocol itself, they play a prominent role in creating the demand for CERs and ERUs, stimulating Emissions Trading and setting a market price for emissions. FROM IES 2018 PRELIMS Q.3 Consider the following statements : Consider the following statements : 1. IPDS strengthens the distribution network in urban areas while DDUGJY does the same in rural areas 2. DELP focuses to substitute LED bulbs for incandescent bulbs Which of the following statements is/are correct ? A) Only 1 B) Only 2 C) Both are correct D) Both are incorrect Ans. C “Integrated Power Development Scheme” (IPDS) with the objectives of: 1. Strengthening of sub-transmission and distribution network in the urban areas; 2. Metering of distribution transformers /feeders / consumers in the urban areas. 3. IT enablement of distribution sector and strengthening of distribution network as per CCEA approval dated 21.06.2013 for completion of targets laid down under Restructured Accelerated Power Development and Reforms Programme (RAPDRP) for 12th and 13th Plans by carrying forward the approved outlay for RAPDRP to IPDS. The scheme will help in reduction in AT&C losses, establishment of IT enabled energy accounting / auditing system, improvement in billed energy based on metered consumption and improvement in collection efficiency. Deen Dayal Upadhyaya Gram Jyoti Yojana: is a Government of India scheme designed to provide continuous power supply to rural India.[1] The initiative is named in honor of Indian political philosopher Deen Dayal Upadhyaya. It is one of the key initiatives of the NDA government 2014-2019. The government plans to invest ₹756 billion (US$12 billion) for rural electrification under this scheme. The scheme will replace the existing Rajiv Gandhi Grameen Vidyutikaran Yojana (RGGVY).[2] The DDUGJY scheme : It will enable to initiate much awaited reforms in the rural areas. It focuses on feeder separation (rural households & agricultural) and strengthening of sub-transmission & distribution infrastructure including metering at all levels in rural areas. The deadline for the Centre’s rural electrification programme is May 2018. Keeping in view the above problems, Ministry of Power, Government of India has launched Deen Dayal Upadhyaya Gram Jyoti Yojana for rural areas having following objectives: To provide electrification to all villages Feeder separation to ensure sufficient power to farmers and regular supply to other consumers Improvement of Sub-transmission and distribution network to improve the quality and reliability of the supply Metering to reduce the losses Domestic Efficient Lighting Programme (DELP): The scheme was announced as “Domestic Efficient Lighting Programme (DELP)” on 5 January 2015, urging the people to use LED bulbs in place of incandescent bulbs, tube lights and

FRAMED FROM WIKIPEDIA Q.1 Which of the following is/are true with respect to the petroleum Panchayat yojna ? 1. It has replaced Pradhan Mantri Ujwal Yojana to deal with issue of safe use of LPG 2. It was launched in 2015 3. Availability of refill cylinders is one of the  key feature of this scheme Select the correct answer using the codes given below : A) 1 & 3 B) Only 2 C) 2 & 3 D) Only 3 Ans. D It was launched in 23rd September 2017 It is backup scheme to existing Pradhan Mantri Ujjwala Yojana . LPG Panchayat will serve as an interactive platform between those who received LPG cylinders under PMUY. One panchayat will have around 100 LPG customers of nearby areas. The panchayats discuss issues such as safe practices, quality of service provided by distributors and availability of refill cylinders. FRAMED FROM WIKIPEDIA Q.2 Which among the following statements is/are true with respect to the Special Drawing Rights ? 1. These are the foreign-exchange reserve assets defined and maintained by the World Bank 2. Private parties are restricted to hold or use them 3. South African Rand & British pound have been added to the XDR basket effectively from October 1, 2016 Select the correct answer using the codes given below : A) 1 & 3 B) Only 3 C) 2 & 3 D) Only 2 Ans. D Special drawing rights (ISO 4217 currency code XDR,[1] also abbreviated SDR) are supplementary foreign-exchange reserve assets defined and maintained by the International Monetary Fund (IMF). The XDR is the unit of account for the IMF, and is not a currency per se.[2] XDRs instead represent a claim to currency held by IMF member countries for which they may be exchanged.[3] The XDR was created in 1969 to supplement a shortfall of preferred foreign-exchange reserve assets, namely gold and the U.S. dollar.[3] XDRs are allocated to countries by the IMF.[3] Private parties do not hold or use them.[4] The amount of XDRs in existence was around XDR 21.4 billion in August 2009. During the global financial crisis of 2009, an additional XDR 182.6 billion were allocated to “provide liquidity to the global economic system and supplement member countries’ official reserves”. By October 2014, the amount of XDRs in existence was XDR 204 billion.[5] The value of the XDR is based on a basket of key international currencies reviewed by IMF every five years.[3] The weights assigned to each currency in the XDR basket are adjusted to take into account their current prominence in terms of international trade and national foreign exchange reserves.[3] In the review conducted in November 2015, the IMF decided that the Renminbi (Chinese yuan) would be added to the basket effective October 1, 2016.[6] From that date, the XDR basket now consists of the following five currencies: U.S. dollar 41.73%, Euro 30.93%, Renminbi (Chinese yuan) 10.92%, Japanese yen 8.33%, British pound 8.09% FRAMED FROM WIKIPEDIA Q.3 Which among the following is/are true with respect to the Deen Dayal SPARSH Yojana ? 1. it is an annual scholarships to children of Standard VI to IX having good academic records only 2. Philately as a hobby is an important component of this scheme 3. Children must be between 10 to 18 years of age to be eligible for this scheme Select the correct answer using the codes given below : A) 2 & 3 B) Only 3 C) 1 & 2 D) Only 2 Ans. D Deen Dayal Sparsh Yojana Minister of Communications Shri Manoj Sinha launched a Pan India scholarship program for school children called Deen Dayal SPARSH Yojana to increase the reach of Philately. Under the scheme of SPARSH (Scholarship for Promotion of Aptitude & Research in Stamps as a Hobby), it is proposed to award annual scholarships to children of Standard VI to IX having good academic record and also pursuing Philately as a hobby through a competitive selection process in all postal circles. Briefing the media after the launch of the scheme, Shri Sinha said that under the scheme, it is proposed to award 920 scholarships to students pursuing Philately as a hobby.  Every Postal Circle will select a maximum of 40 scholarships representing 10 students each from Standard VI, VII, VIII & IX. The amount of Scholarship will be Rs. 6000/- per annum @ Rs. 500/- per month. Philately is the hobby of collection and study of Postage stamps FRAMED FROM WIKIPEDIA Q.4 Which among the following is/are the cryptocurrencies ? 1. Litecoin 2. Bitcoin 3. Namecoin Select the correct answer using the codes given below : A) 1 & 3 B) Only 2 C) 1 & 2 D) 1,2,3 Ans. D cryptocurrencies, such as Litecoin, Namecoin and PPCoin. The first cryptocurrency to capture the public imagination was Bitcoin, which was launched in 2009 by an individual or group known under the pseudonym Satoshi Nakamoto. As of September 2015, there were over 14.6 million bitcoins in circulation with a total market value of $3.4 billion. Bitcoin’s success has spawned a number of competing cryptocurrencies, such as Litecoin, Namecoin and PPCoin. Cryptocurrencies make it easier to transfer funds between two parties in a transaction; these transfers are facilitated through the use of public and private keys for security purposes. These fund transfers are done with minimal processing fees, allowing users to avoid the steep fees charged by most banks and financial institutions for wire transfers FRAMED FROM WIKIPEDIA Q.5 What does Hedge Fund means ? A) Funds provided for replacement and renovation of industries B) Open ended funds that pools capital from accredited individuals or institutional investors C) Start-up capital provided to new entrepreneurs D) Fund created by the Government of India for enhancing infrastructure financing in the country Ans. B Hedge Funds : A hedge fund is an investment fund that pools capital from accredited individuals or institutional investors and invests in a variety of assets, often with complex portfolio-construction and risk-management techniques. It is administered by a professional investment management

FRAMED FROM “THE HINDU” Q.1 Which of the following best describes Forward linkages with respect to the economic activity ? 1. These refer to the transactions with the consumers 2. For food processing industry, these linkages are associated with the primary processing centres Select the correct answer using the codes given below : A) Only 1 B) Only 2 C) Both are correct D) Both are incorrect Ans. A Forward linkages : -These refer to the transactions with the consumers – These linkages are associated with the retail stores Backward linkages : -These refer to the transactions with the suppliers -For food processing industry, these linkages are associated with the primary processing centres FRAMED FROM THE HINDU -SEPTEMBER 2018 Q.2 With reference to the news what is Blockchain Bond ? A) It is the new debt instrument issued by World Bank by using ledger technology B) It is a type of bond purchased by buyers interested in earning a revenue stream from the British pound or sterling C) Republic of Seychelles has launched the Bond, a novel financing initiative which taps into capital markets to fund ocean-related environmental projects D) It is the bond issued outside India but denominated in Indian Rupees, rather than the local currency Ans. A The World Bank is turning to blockchain to help it raise money. The international lender is planning to issue what it says is the world’s first global blockchainbond, a notable mainstream endorsement of the emerging technology. Blockchain is best known as the technology underpinning bitcoin and other cryptocurrencies. It serves as a digital record of financial transactions. The World Bank has hired Commonwealth Bank of Australia (CBAUF) to manage the bond, which is expected to raise as much as 100 million Australian dollars ($73 million). FRAMED FROM THE HINDU -SEPTEMBER 2018  Q.3 Which among the following is/are modified Operational Guidelines for Pradhan Mantri Fasal Bima Yojana ? 1. Only Perennial horticulture crops are included on pilot basis under the ambit of PMFBY 2. Farmers will be paid 11 % interest by insurance companies Which of the statements given above is/are correct ? A) Only  1 B) Only 2 C) Both are correct D) Both are incorrect Ans. D -Farmers will be paid 12 % interest by insurance companies -State Governments  will have to pay 12 % interest for delay in release of state share of subsidy -It includes Perennial horticulture crops on pilot basis under the ambit of PMFBY -It provides add on coverage for crop loss -Release of upfront premium subsidy FRAMED FROM THE HINDU -SEPTEMBER 2018 Q.4 With reference to the Pradhan Mantri Jeevan jyoti Bima Yojana, consider the following statements : 1. It is a life insurance scheme which includes age between 18 to 50 years 2. The annual premium of Rs.12 will be paid by the Union government 3. The benefit includes Rs. 2 lakhs in case of death due to any cause Which of the statements given above is/are correct ? A) 1 & 3 B) Only 3 C) 1 & 2 D) 1,2,3 Ans. B Pradhan Mantri Jeevan jyoti Bima Yojana is a accident insurance scheme which includes age between 18 to 50 years Pradhan Mantri Suraksha Bima Yojana is a life insurance which includes age between 18 to 70 years Pradhan Mantri Suraksha Bima Yojana : The annual premium of Rs.12 will be paid by the Union government Pradhan Mantri Jeevan jyoti Bima Yojana : The annual premium of Rs.330 will be paid by the Union government FRAMED FROM THE HINDU -SEPTEMBER 2018  Q.5 With reference to the Pradhan Mantri Jan Arogya Yojana, consider the following statements : 1. Institutional treatment is the part of this Scheme 2. It will cover over 10 crore people for secondary & tertiary care hospitalization 3. Members of the family should not be more than 5 to be eligible for the scheme Which of the statements given above is/are correct ? A) 1 & 3 B) Only 2 C) 2 & 3 D) 1,2,3 Ans. B 1st statement : Institution treatment means a hospital, nursing facility, or other. It is a fabricated statement 3rd statement : It is also wrong. It is not the feature of this scheme. Prime Minister Narendra Modi launched ambitious Pradhan Mantri Jan Arogya Yojana (PMJAY), under Ayushman Bharat umbrella at Ranchi, Jharkhand. The scheme aims to provide annual health insurance cover of Rs 5 lakh to 10.74 crore beneficiary families i.e. over 50 crore beneficiaries across India. It is touted as world’s largest healthcare scheme that will serve beneficiary population that equals 27-28 European countries and almost equal to population of Canada, Mexico and US put together. The scheme will become operational from September 25, 2018 i.e. on birth anniversary of Deendayal Upadhyay. FRAMED FROM THE HINDU -SEPTEMBER 2018 Q.6 With reference to the Price Deficiency Payment Scheme, consider the following statements : 1. It is proposed to cover all the oil seeds for which minimum support price is notified 2. It does not involve any physical procurement of the crops 3. All the payments will be done directly into registered bank account of the farmer Which of the statements given above is/are correct ? A) Only  2 B) 2 & 3 C) 1 & 2 D) 1,2,3 Ans. D The Niti Aayog has released a three-year agenda for the Centre. Of the several things it has touched upon, one is agriculture, with a focus on doubling farmers’ income. The think-tank has recommended reforms in the APMC Act and tenancy  laws and tweaks to the eNAM (electronic National Agriculture Market). It has also suggested ‘Price Deficiency Payment’ system to address the gaps in Minimum Support Price (MSP) based procurement of crops. What is it? Under Price Deficiency Payment, farmers are proposed to be compensated for the difference between the government- announced MSPs for select crops and their actual market prices. For crops such as rice and wheat where it is effective now, MSP announcements will continue. For other targeted crops, price deficiency