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INDIAN ECONOMY QUIZ 3



  • a.) 
     I, II,  and III
  • b.) 
    I  and IV
  • c.) 
    I, and III
  • d.) 
     I, II, III and IV
Answer is (d) 


  • a.) 
     I, II,  and III
  • b.) 
    I  and IV
  • c.) 
     I, and III
  • d.) 
    I, II, III and IV
Answer is (d)
All these are functions of the RBI as a banker to the central government. 


  • a.) 
    Core inflation
  • b.) 
    Headline inflation
  • c.) 
    Inflation expectations
  • d.) 
    Base effect 
Answer is (c)
 
Headline inflation is core inflation plus noncore inflation. 


  • a.) 
     I, II,  and III
  • b.) 
    I  and IV
  • c.) 
    I, and III
  • d.) 
    I, II, III and IV
Answer is (d) 
The national manufacturing policy aims to raise the share of manufacturing in the GDP by expanding employment. 


  • a.) 
    4, 3, 2, 1
  • b.) 
    2, 3, 4, 1
  • c.) 
    4, 2, 3, 1
  • d.) 
    2, 4, 3, 1
Answer is (b)
Household sector is the largest saving category in India and their physical savings is higher than that of their financial savings.


  • a.) 
    I, II, and III
  • b.) 
     I and IV
  • c.) 
    I, and III
  • d.) 
    I, II, III and IV
Answer is (d)
The IPAB is the dispute settlement body for intellectual property related issues.



  • a.) 
     I, II, III, and IV correct
  • b.) 
    I and II correct
  • c.) 
     I, II, and III correct
  • d.) 
    I, II and IV are correct
Answer is (a)
Prime Minister is the Chairman of the NITI Ayog, Mr. Amitabh Kant is the CEO.


  • a.) 
    Turnover in both sectors
  • b.) 
    Investment in plant and machinery in manufacturing whereas turnover in services sector
  • c.) 
    Investment in plant and machinery in manufacturing sector and investment in equipment in services sector
  • d.) 
    Investment in capital equipment in both sectors.
Answer is (c)
The MSMEs are classified in terms of investment made in plant and machineries if they are operating in the manufacturing sector and investment in equipment for service sector companies.


  • a.) 
    Excellence, Efficiency and Expansion
  • b.) 
    Excellence, Equity and Efficiency
  • c.) 
    Excellence, Expansion and Equity
  • d.) 
    Excellence, Equity and Efficiency 
Answer is (c)


  • a.) 
    1956
  • b.) 
    2002
  • c.) 
    2006
  • d.) 
    None of these
Answer is (c)


  • a.) 
     Prime Minister Krishi Sinchai Yojana
  • b.) 
     RIDF
  • c.) 
     Accelerated Irrigation Benefits Programme
  • d.) 
    RKVY
Answer is (d)
RKVY
Main objective of RKVY is to incentivize States to draw up comprehensive agriculture development plans, taking into account agro-climatic conditions, natural resources and technology for ensuring more inclusive and integrated development of agriculture and allied sectors.
Operational guidelines of the RKVY is changed and higher attention has been given for the generation of agricultural assets. The revised Operational Guidelines of the scheme mandated that at least 35% of normal RKVY allocation should be utilized by the states for implementing Infrastructure and Assets development projects.
Strategy of RKVY
RKVY gives considerable flexibility and autonomy to States in planning and implementing projects related to agriculture and allied sectors. States have to formulate strategies for the development of the sector in a holistic way taking into account their agro-climatic conditions so as to effectively address their local needs and priorities. Diversity in the agricultural situation across the country is well considered under the scheme as there is no "one size fits all" approach.
RKVY also emphasizes on convergence through District Agriculture Plans (DAPs) and State Agriculture Plan (SAP) for optimal utilization of funds by avoiding overlapping under multiple schemes.
The RKVY has four components: RKVY - Production and Growth (35% weightage), RKVY - Infrastructure and Assets (35% weightage), RKVY Special Schemes (20% weightage) and RKVY Flexi Fund (10% weightage). Budget 2016 has provided an allocation of Rs 5400 for RKVY.



  • a.) 
    an account becomes NPA
  • b.) 
     an account becomes Special Mention Account 2
  • c.) 
    a borrower defaults
  • d.) 
    a person becomes wilful defaulter
Answer is (a) 
The Joint Lender Forum (JLF) is a committee comprised of the entire bankers who have given loans to a potentially stressed or stressed borrower. At present, banks can form a JLF if the account by a borrower is classified as Special Mention Account 2 (not paid any money back during the last 60 days).


  • a.) 
    Debt write-off scheme
  • b.) 
    Debt restructuring scheme
  • c.) 
     Strategic debt restructuring scheme
  • d.) 
     Debt Adalat
Answer is (c)
Under SDR, banks who have given loans to a corporate borrower gets the right to convert the full or part of their loans into equity shares in the loan taken company.
The SDR scheme which was introduced by the RBI in June 2015 thus helps banks recover their loans by taking control of the distressed listed companies.
The SDR an initiative can be taken by the group of banks or JLF that have given loans to the particular defaulted entity. The Joint Lender Forum (JLF) is a committee comprised of the entire bankers who have given loans to a potentially stressed or stressed borrower. At present, banks can form a JLF if the account by a borrower is classified as Special Mention Account 2 (not paid any money back during the last 60 days).
The RBI in its "Framework for Revitalizing Distressed Assets in the Economy - Guidelines on Joint Lenders' Forum (JLF) and Corrective Action Plan (CAP)" has suggested change of management as a part of restructuring of stressed assets. Change of management means share transfer from the promoter to the banks.
The SDR gives banks more power in the management of the company who has taken loan and has defaulted.


  • a.) 
    Rs 1 crore    
  • b.) 
     Rs 50 lakh
  • c.) 
    Rs 10 lakh     
  • d.) 
    Rs 25 lakh
Answer is (d) 
The MSMEs are classified in terms of investment made in plant and machineries if they are operating in the manufacturing sector and investment in equipment for service sector companies.
               Though the primary responsibility of promotion and development of MSMEs is of the State Governments, the center has passed an Act in 2006 to empower the sector and also has formed a Ministry (Ministry of MSMEs).  It was the Micro, Small and Medium Enterprises Development (MSMED) Act which was notified in 2006 that defined the three tier of micro, small and medium enterprises and set investment limits.
Classification of the MSME
Ceiling on Investment in Plant and Machinery (in Rs)
Micro
Below 25 lakhs
Small
25 lakhs to 5 crores
Medium
5 crores to 10 crores
 For the service sector, the investment limits are Rs 10 lakh, 2 crores and 5 crores in terms of investment made in equipment. In 2015, the government has introduced an amendment bill to enhance the investment limit in all categories.


  • a.) 
    Borrowing is to be eliminated to bring fiscal balance
  • b.) 
    debt beyond a limit brings negative returns
  • c.) 
     capital surplus budgets are necessary 
  • d.) 
    intergeneration equity is an essential objective of fiscal policy 
Answer is (a)
The first statement is wrong as fiscal deficit can be met mainly through borrowing.

 

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