Esi Answer Key Esi

Answer Key for Economic & Social Issues for NABARD Grade A & B Question Answers Explanations 1. D GDP – It is the total value of all final goods and services produced within the boundary of country during the given period of time. GNP – It is the total value of the total output or production of final goods and services produced by the nationals of a country during a given period of time. Gross national income – It is the total domestic and foreign output claimed by residents of a country, consisting of gross domestic product (GDP) plus factor incomes earned by foreign residents, minus income earned in the domestic economy by non-residents. Net national product - The total value of goods produced and services provided in a country during one year, after depreciation of capital goods has been allowed for. 2.

A

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D

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E

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E

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NITI Aayog drafted a 15-years vision plan to catapult the country’s economic growth to more than three times as compared to the present day. The new plan is set to replace the centralised five year plans the country has been following for decades. The 15-year vision documents have a 7 years strategy documents for 2017-2024 As the National development agenda and a three year ‘Action agenda’ from 2017-18 to 2019-20. HDI is a measure for assessing progress in three basic dimensions of human development – a long and healthy life, access to knowledge and access to a decent standard of living. Norway topped the list. First nationalisation of commercial banks took place in 1969.

6.

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D

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C

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D

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D

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World happiness index – Topped by Norway India’s rank in 2016 – 118

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IFM – Investment fund mechanism, it aims to promote and facilitate EU investment in India. By this Switzerland can share information about suspected black money with India and 40 other nations.

14.

E

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B

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B

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C

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D

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ADB released the Asian development outlook 2017 in which it had cut the India’s projection to 7.4% for 2017-18 from an earlier projection estimate of 7.8%. IMF – International Monetary Fund Also known as Dutt committee. It also recommended the classification of industries into sectors like core sector, noncore sector, reserve sector etc Monetary policy deals with the supply of money in the economy and the rate of interest. National Anti-Profiteering authority

On the basis of causes inflation is classified as – 1. Credit inflation 2. Deficit induced inflation 3. Demand pull inflation 4. Cost push inflation Coir Udyami yojana is a credited linked subsidy scheme. Coir is fibrous mass extracted out from the coconut husk. PRAGATI – Pro-active governance and timely implementation. It is a genetic blood disorder with no cure except bone marrow transplant. EPFO signed MoU with Housing and urban development corporation to enable its member to avail subsidy and intervention under PMAY It is an extreme form of inflation when an economy gets shattered The new base year for IIP is 2011-12.

23.

B

24.

B

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E

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A

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A

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B

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D

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B

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B

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D

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The Index of Industrial Production (IIP) is an index for India which details out the growth of various sectors in an economy such as mineral mining, electricity and manufacturing. SEZ is special economic zones. SEZ are allowed manufacturing, trading and service activities. “a banking outlet” for a scheduled commercial, a payments bank or a small finance bank as a fixed-point service delivery unit, manned by either the bank’s staff or its business correspondent, where services of acceptance of deposits, encashment of cheques, cash withdrawal or lending of money are provided for a minimum of 4 hours per day for at least five days a week”. Those outlets which do not meet this criterion will be called “part-time banking outlet. World bank consists of two institutions – International bank for reconstruction and development and international development association. According to report, India’s economy will grow at 7% in the current fiscal year, which is strongest amongst G-20 countries. The survey was conducted by Quality council of India. Gujarat has the highest number of cleanest cities under top 50 clean cities. Borrower gains during the inflation since he will have to pay less in real terms than when it was borrowed It was organised by Ministry of textiles and FICCI in Mumbai.

The Wholesale Price Index (WPI) is the price of a representative basket of wholesale goods Under this mission Indian railways will save 41000 crores expenditure on energy consumption for next 10 years. The merchant needs a smartphone and has to download his or her bank's Aadhaar Pay app from the Google Play Store and accept payments by sending a pull notification to the customer's bank account.

Aadhar Pay smartphone payment app would also eliminate the fee currently being charged by the private card companies such as “MasterCard” and “Visa”. 36.

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37.

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It aims to clean up the balance sheets of PSBs to ensure banks remain solvent and fully comply with global capital adequacy norms, Basel-III. Besides, revised programme of capitalisation will be also issued as part of it. The survey is released by Department of Public enterprises, Ministry of heavy industries and public enterprises on the performance of central public sector enterprises. NCCT- Non-cooperative companies and territories RBI prohibited Indian entities from making direct investment in any entities located in NCCT. The liberalization policies were unveiled by then Finance minister Dr. Manmohan singh in 1991-92. The programme was conceived for coordinated and intensive monitoring of a number of schemes implemented by the Central and the state governments. It is an inflation tax An individual can claim long term capital gain on selling a house property after holding it for two years instead of three years

52.

C

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AQR – Asset Quality review

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Bureau of Indian standards revised the Indian standards for gold hallmarking i.e. 14 carat, 18 carat and 22 carat. It is an IT tool which facilitates monitoring of universal access to TB patients database. Steel ministry released new draft National steel policy 2017 which aims to double the domestic steel production capacity to 300 million tonnes. 2nd advance food grains estimate is released by department of agriculture, cooperation and farmers welfare. The production during 2016-17 is higher by 14.97 million tonnes than the previous 5 years average production of foodgrains.

62.

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B

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The issuer of green bond publicly states that capital is being raised for green projects The scheme provides loans to micro units in three categories ranging from Rs. 50,000 to Rs. 10 lakh. Shishu: Loan up to Rs 50,000 Kishore: Loan ranging from Rs 50,000 to Rs 5 lakh Tarun: Loan ranging from Rs 5 lakh to Rs 10 lakh. China is the world’s largest producer of crude Steel. When we divide NNP by the total population of a nation we get the ‘per capita income’ (PCI) of that nation.

Banking codes and standards board of India. It was registered as a society under the societies registration act 1960. NNP = GNP - Depreciation or, NNP = GDP + Income from Abroad - Depreciation.

67.

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D

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B

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E

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C

It is the lowest investment grade rating.

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B

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D

They are the specialised agencies with a main role of resolving the stressed assets issue of the Indian banking system. Tax avoidance – when taxpayer tries to exploit legal loopholes to reduce tax liabilities which would be otherwise incurred. Tax planning – Plan to minimize tax payment.

81.

C

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D

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National product includes the production activities of resident irrespective of where it is performed within the economic territory or outside of it.

Headline inflation in India is measured in terms of Wholesale Price Index (WPI) and the Office of the Economic Adviser, Department of Industrial Policy & Promotion is entrusted with the task of releasing this index. Masala bonds are bonds issued outside India but denominated in Indian Rupees, rather than the local currency. Hongkong Topped the Index.

The eight core sectors in which electricity has maximum weightage and fertilizer production has lowest weightage.

The first index number of wholesale prices commenced in India for the week January 10, 1942. It was having the base week ending August

19, 1939 = 100 which was published by the office of the Economic Adviser to the Government of India (Ministry of Industry) 83.

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A

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The Economic and social survey report for Asia and Pacific is released by UNESCAP This is intended to increase the production level which ultimately pushes the prices up due to extra-creation of money during the process. 7.7% for 2018-19 NPA is classified in three categories – 1. Standard asset 2. Sub standard asset 3. Loss asset 1. Budget deficit = total expenditure – total receipts 2. Revenue deficit = revenue expenditure – revenue receipts 3. Fiscal Deficit = total expenditure – total receipts except borrowings 4. Primary Deficit = Fiscal deficit- interest payments 5. Effective revenue Deficit-= Revenue Deficit – grants for the creation of capital assets 6. Monetized Fiscal Deficit = that part of the fiscal deficit covered by borrowing from the RBI.

Jharkhand become the second state to change its financial year. Skill Strengthening for Industrial Value Enhancement (STRIVE) Unicorn companies

96.

D

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B

CPI – Consumer Price Index

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E

The index is an annual analysis of how political, economic and regulatory changes will likely effect FDI flows into countries in coming years. USA topped the list.

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A

Privatisation is the process of transferring ownership of a business, enterprise, agency, public service or public property from government to a private sector came in 1991

On 28 June 2011 Christine Lagarde was confirmed as managing director of the IMF for a five-year term starting on 5 July 2011. It is the presence of, or support for the presence of, several distinct cultural or ethnic groups within a society. It is an action favouring those who tend to suffer from discrimination; positive discrimination. The Right of Children to Free and Compulsory Education Act' or 'Right to Education Act also known as RTE', is an Act of the Parliament of India enacted on 4 August 2009, which describes the modalities of the importance of free and compulsory education for children between 6 and 14 in India under Article 21A The position is currently held by Urjit Patel, who took over from Raghuram Rajan on 4 September 2016. It is a commission of the Indian government. It is chaired by the PM with the Deputy Chairman Planning Commission as vice chairman. Chief ministers of all states, ministers of the related central ministries, secretaries of the concerned departments, eminent physicians, demographers

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and the representatives of the civil society are members of the commission. 111.

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Dalit Panthers is a social organisation that seeks to combat caste discrimination. It was founded by Namdeo Dhasal and J. V. Pawar on 29 May 1972 in the Indian state of Maharashtra. Harijan was the name given to the Dalit community in India.

Telangana's first chief minister, K. Chandrashekar Rao of the Telangana Rashtra Samithi, is also the current incumbent. He has held office since the day Telangana was carved out of Andhra Pradesh, 2 June 2014. Uttar Pradesh tops the chart in most densely Populated state in India. According to recent estimates, there are more than 210 million people living in the state of Uttar Pradesh. The gilt-edged market is the market in government securities or the securities guaranteed (as to both principal and interest) by the government. Operation Flood, launched in 1970, was a project of India's National Dairy Development Board (NDDB), which was the world's biggest dairy development program. Subsistence agriculture is self-sufficiency farming in which the farmers focus on growing enough food to feed

126.

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themselves and their families. The output is mostly for local requirements with little or no surplus trade. Objective of "Pradhan Mantri Jan-Dhan Yojana (PMJDY)" is ensuring access to various financial services like availability of basic savings bank account, access to need based credit, remittances facility, insurance and pension to the excluded sections i.e. weaker sections & low income groups. This deep penetration at affordable cost is possible only with effective use of technology. Radha Mohan Singh is the Union Minister of Agriculture in the Narendra Modi government. Regional Rural Banks (RRB’s) were established under the provisions of an Ordinance promulgated on the 26th September 1975 and the RRB Act, 1976 with an objective to ensure sufficient institutional credit for agriculture and other rural sectors. It is the income illegally obtained or not declared for tax purposes. Public-private partnership (PPP) is a funding model for a public infrastructure project such as a new telecommunications system, airport or power plant.

Index of Economic Freedom measures economic freedom of 186 countries based on trade freedom, business freedom, investment freedom, and property rights.

The Scheduled Castes and Tribes (Prevention of Atrocities) Act, 1989 is an Act of the Parliament of India enacted to prevent atrocities against scheduled castes and scheduled tribes. Shashi Tharoor, MP, introduced the Anti-Discrimination and Equality Bill 2016 in Lok Sabha on March 10.

140.

B

141.

C

142.

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143.

D

144.

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146.

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147.

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148.

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149.

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150.

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152.

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the reduction in the official value of a currency in relation to other currencies.

The G20 is an international forum for the governments and central bank governors from 20 major economies. Uniform civil code is the constitutional mandate to replace the personal laws based on the scriptures and customs of each major religious community in India with a common set governing every citizen.

the process by which businesses or other organizations develop international influence or start operating on an international scale. National Bank for Agriculture and Rural Development (NABARD) is an apex development bank in India, headquartered at Mumbai with branches all over India. The Patanjali Ayurved Limited is an Indian FMCG company. Manufacturing units and headquarters are located in the industrial area of Haridwar while the registered office is located at Delhi. The company manufactures mineral and herbal products. Govind Pansare was a left-wing Indian politician of the Communist Party of India.

157.

E

158.

A

159.

B

160.

C

The International Monetary Fund is an international organization headquartered in Washington, D.C., of "189 countries working to foster global monetary cooperation, The Swachh Bharat Abhiyan is the most significant cleanliness campaign by the Government of India.

Question Bank for Economic & Social Issues for NABARD Grade A & B 2017 Syllabus for NABARD Recruitment Exam for Grade A & B Officers 2017 Latest NABARD Exam Pattern Computer Notes For NABARD & SSC Exam Computer Awareness for NABARD & SSC Exam NABARD Agriculture & Rural Development Question Bank Internet & Computer Notes for Bank Exam NABARD Two weeks NABARD Study Schedule 12 | P a g e

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