Economic and Social Development

261. Which one of the following is not a function of money ?

Which one of the following is not a function of money ?

[amp_mcq option1=”Acts as an intermediate in the exchange process” option2=”Acts as a store of value” option3=”Used as the unit of account” option4=”Used for regulating consumption” correct=”option4″]

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The correct answer is D) Used for regulating consumption.
Money performs three main functions: acting as a medium of exchange (intermediate in the exchange process), a unit of account (measuring value), and a store of value (holding wealth). Regulating consumption is not a fundamental function of money itself, although the availability of money, prices, and economic policies can influence consumption patterns.
The primary functions of money are widely accepted as Medium of Exchange, Unit of Account, and Store of Value. Some texts also mention a fourth function, Standard of Deferred Payment. Regulating consumption is a macro-economic or individual economic activity influenced by income, prices, and other factors, but it is not a function inherent to money’s definition or role as an economic tool.

262. Which of the following statements about the Pradhan Mantri Gram Sadak

Which of the following statements about the Pradhan Mantri Gram Sadak Yojana are correct?

  • 1. It is part of Government of India’s poverty reduction strategy.
  • 2. It is a centrally sponsored scheme for rural development.
  • 3. It provides connectivity in rural areas.

Select the correct answer using the code given below :

[amp_mcq option1=”1, 2 and 3″ option2=”1 and 3 only” option3=”2 and 3 only” option4=”1 and 2 only” correct=”option1″]

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The correct answer is A) 1, 2 and 3. The Pradhan Mantri Gram Sadak Yojana (PMGSY) is indeed a part of the Government of India’s poverty reduction strategy (Statement 1), as improved rural connectivity enhances economic opportunities and access to services. It is a Centrally Sponsored Scheme (Statement 2) aimed at providing all-weather road connectivity to eligible unconnected habitations in rural areas (Statement 3), thus contributing significantly to rural development.
PMGSY is a flagship rural development program focused on providing basic infrastructure (roads) to unconnected rural habitations, which serves multiple goals including poverty reduction and overall rural development.
The scheme was launched in 2000. While initially framed as a 100% Centrally Sponsored Scheme, funding patterns have evolved over time, but it remains a Centrally Sponsored Scheme. Its core mandate is to provide single all-weather road connectivity to eligible unconnected habitations with specific population criteria.

263. Which one of the following statements about the DDU – GKY is not cor

Which one of the following statements about the DDU – GKY is not correct ?

[amp_mcq option1=”It is a skill training programme.” option2=”It is for rural youth from poor families.” option3=”Its objective is placement in wage employment.” option4=”It relies entirely on skill training by Government agencies.” correct=”option4″]

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The correct answer is D) It relies entirely on skill training by Government agencies. Deen Dayal Upadhyaya Grameen Kaushalya Yojana (DDU-GKY) is a placement-linked skill development program for rural youth. While statements A, B, and C are correct objectives of the scheme, statement D is incorrect as the scheme primarily relies on private and non-governmental training partners, not solely government agencies, for providing skill training.
DDU-GKY is a market-driven, outcome-oriented skill training program implemented through Training Partners (TPs) which are typically private institutions or NGOs, not exclusively government agencies.
DDU-GKY is part of the National Rural Livelihood Mission (NRLM). It aims to train rural youth between 15 and 35 years of age from poor families and provide them with wage employment. The program emphasizes minimum placement rates for trained candidates.

264. Mission Indradhanush aims at

Mission Indradhanush aims at

[amp_mcq option1=”reducing child deaths due to pneumonia.” option2=”reducing the impact of rotavirus.” option3=”elimination of maternal tetanus.” option4=”full immunisation of children.” correct=”option4″]

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The correct answer is D) full immunisation of children. Mission Indradhanush is a health mission of the Government of India that aims to cover all those children and pregnant women who are unvaccinated or partially vaccinated against seven vaccine-preventable diseases.
The core goal of Mission Indradhanush is to rapidly increase the full immunisation coverage among children and pregnant women across the country.
The initial phase of Mission Indradhanush targeted immunisation against diphtheria, whooping cough, tetanus, polio, tuberculosis, measles, and Hepatitis B. The mission has been further strengthened with phases like Intensified Mission Indradhanush (IMI) and IMI 2.0, 3.0, and 4.0 to reach the unreached populations and achieve higher coverage.

265. The Saubhagya Scheme aims at universal

The Saubhagya Scheme aims at universal

[amp_mcq option1=”LPG connection.” option2=”household electrification.” option3=”primary school education.” option4=”public health insurance.” correct=”option2″]

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The correct answer is B) household electrification. The Saubhagya Scheme, officially known as Pradhan Mantri Sahaj Bijli Har Ghar Yojana, was launched by the Government of India with the aim to achieve universal household electrification in all parts of the country.
The primary objective of the Saubhagya Scheme was to provide electricity connections to all remaining unelectrified households in rural and urban areas.
The scheme was launched in September 2017 with the goal of completing household electrification by March 31, 2019. While achieving near 100% household electrification reported by the government, some challenges related to last-mile connectivity and quality of supply persist.

266. NIDHI is an umbrella scheme for the promotion of

NIDHI is an umbrella scheme for the promotion of

[amp_mcq option1=”young and aspiring innovators.” option2=”scientific research.” option3=”primary health care.” option4=”primary education in rural areas.” correct=”option1″]

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The correct answer is A) young and aspiring innovators. NIDHI stands for National Initiative for Developing and Harnessing Innovations, which is an umbrella program conceptualized by the Department of Science & Technology (DST) to nurture ideas and innovations into successful startups.
NIDHI primarily focuses on supporting and promoting innovation and entrepreneurship, targeting young innovators and startups.
The NIDHI program covers various components like PRAYAS (Promoting and Accelerating Young and Aspiring innovators & Startups), Entrepreneurs-in-Residence (EIR), NIDHI iDEX (Innovations for Defence Excellence), Seed Support System, Centers of Excellence, etc., all aimed at creating a robust innovation ecosystem.

267. KIRAN (Knowledge Involvement in Research Advancement through Nurturing

KIRAN (Knowledge Involvement in Research Advancement through Nurturing) is an initiative to provide opportunities to women scientists who

[amp_mcq option1=”had a break in their career due to family reasons.” option2=”are pursuing innovative research in life sciences.” option3=”have collaborative projects with labs in foreign countries.” option4=”have leading edge projects in Nano-Science and Technology.” correct=”option1″]

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KIRAN (Knowledge Involvement in Research Advancement through Nurturing) is an initiative by the Department of Science & Technology (DST), Government of India. One of the key objectives and specific schemes under KIRAN (like Women Scientists Scheme – WOS) is to provide opportunities to women scientists who have had a break in their careers, typically due to family reasons such as childbirth, child care, or care of elderly parents.
– The initiative aims to bring women scientists back into the mainstream of science and research.
– It provides research grants and other support mechanisms.
While women scientists pursuing research in various fields, including life sciences, or those involved in collaborative projects might benefit from various schemes, the specific focus of a major component of the KIRAN initiative is on providing opportunities for women who have experienced a career break.

268. The percentage by which the money the borrower pays back exceeds the m

The percentage by which the money the borrower pays back exceeds the money that was borrowed is called as

[amp_mcq option1=”Bank rate” option2=”Nominal interest rate” option3=”Real interest rate” option4=”Terms of credit” correct=”option2″]

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The nominal interest rate is the stated percentage increase in money that the borrower pays back over and above the principal amount borrowed. It represents the cost of borrowing or the return on lending, expressed as a percentage per period (usually annually), without adjusting for inflation.
– It is the rate agreed upon by the lender and the borrower.
– The total amount paid back includes the principal plus the nominal interest.
The Bank Rate is the rate at which a central bank lends money to commercial banks. The Real interest rate is the nominal interest rate adjusted for inflation, reflecting the true cost of borrowing or earning in terms of purchasing power. Terms of credit refer to the conditions under which a loan is granted, including the interest rate, repayment schedule, fees, etc.

269. The increase in private investment spending induced by the increase in

The increase in private investment spending induced by the increase in Government spending is known as

[amp_mcq option1=”Crowding in” option2=”Deficit financing” option3=”Crowding out” option4=”Pumping out” correct=”option1″]

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Crowding in refers to the phenomenon where increased government spending stimulates aggregate demand, leading to higher economic activity and improved business confidence. This positive economic environment can induce firms to increase their private investment spending.
– Crowding in occurs when fiscal expansion leads to an increase, rather than a decrease, in private investment.
– This typically happens when the economy has significant unused capacity or when government spending specifically targets infrastructure or research that complements private sector activities.
Crowding out is the opposite phenomenon, where increased government borrowing to finance spending raises interest rates, making it more expensive for private firms to borrow and invest, thus reducing private investment. Deficit financing is the method of funding government spending when revenue is insufficient, often through borrowing. Pumping out is not a standard economic term.

270. Which one of the following statements is not correct ?

Which one of the following statements is not correct ?

[amp_mcq option1=”Real GDP is calculated by valuing outputs of different years at common prices.” option2=”Potential GDP is the real GDP that the economy would produce if its resources were fully employed.” option3=”Nominal GDP is calculated by valuing outputs of different years at constant prices.” option4=”Real GDP per capita is the ratio of real GDP divided by population.” correct=”option3″]

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Statement C is not correct. Nominal GDP is calculated by valuing the output of goods and services at current market prices for each year. Real GDP, on the other hand, is calculated by valuing the output at the prices of a base year (constant prices) to remove the effect of inflation and reflect changes in the actual volume of production.
– Real GDP uses constant prices (base year prices) to measure production growth.
– Nominal GDP uses current prices, which include the effects of both production changes and price changes (inflation/deflation).
– Potential GDP represents the maximum sustainable output an economy can produce.
– Real GDP per capita indicates the average standard of living or economic productivity per person.
The distinction between nominal and real GDP is crucial for accurately assessing economic performance over time. Comparing nominal GDP across years can be misleading if there has been significant inflation, whereas real GDP provides a more reliable measure of economic growth.
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