Economic Development

181. What is/are the advantage/advantages of implementing the ‘National Agr

What is/are the advantage/advantages of implementing the ‘National Agriculture Market’ scheme ?

  • It is a pan-India electronic trading portal for agricultural commodities.
  • It provides the farmers access to nationwide market commensurate with the quality of their produce.

Select the correct answer using the code given below :

[amp_mcq option1=”1 only” option2=”2 only” option3=”Both 1 and 2″ option4=”Neither 1 nor 2″ correct=”option3″]

This question was previously asked in
UPSC IAS – 2017
Download PDFAttempt Online
Both statements 1 and 2 are correct.
– Statement 1 is correct. The National Agriculture Market (e-NAM) is designed as a pan-India electronic trading portal that integrates the existing APMC mandis to create a unified national market for agricultural commodities.
– Statement 2 is correct. A key objective of e-NAM is to provide farmers with access to a wider market beyond their local mandi, allowing them to sell their produce to bidders across the nation and potentially receive better prices commensurate with the quality of their produce.
e-NAM aims to bring transparency to agricultural trade by facilitating online trading, promoting better price discovery, and streamlining procedures at the mandis.

182. Consider the following statements: The Standard Mark of Bureau of In

Consider the following statements:

  • The Standard Mark of Bureau of Indian Standards (BIS) is mandatory for automotive tyres and tubes.
  • AGMARK is a quality Certification Mark issued by the Food and Agriculture Organisation (FAO).

Which of the statements given above is/are correct ?

[amp_mcq option1=”1 only” option2=”2 only” option3=”Both 1 and 2″ option4=”Neither 1 nor 2″ correct=”option1″]

This question was previously asked in
UPSC IAS – 2017
Download PDFAttempt Online
Statement 1 is correct, while statement 2 is incorrect.
– Statement 1 is correct. Under the Bureau of Indian Standards (BIS) Act, 2016 and relevant orders, the BIS Standard Mark is mandatory for automotive tyres and tubes to ensure quality and safety.
– Statement 2 is incorrect. AGMARK (Agricultural Mark) is a certification mark for agricultural products in India, assuring quality. It is administered by the Directorate of Marketing and Inspection (DMI) under the Ministry of Agriculture & Farmers Welfare, Government of India, not by the Food and Agriculture Organisation (FAO).
BIS prescribes standards for various products and services and provides a certification mark, while AGMARK is specific to agricultural commodities.

183. The term ‘Domestic Content Requirement’ is sometimes seen in the news

The term ‘Domestic Content Requirement’ is sometimes seen in the news with reference to

[amp_mcq option1=”Developing solar power production in our country” option2=”Granting licences to foreign T.V. channels in our country” option3=”Exporting our food products to other countries” option4=”Permitting foreign educational institutions to set up their campuses in our country” correct=”option1″]

This question was previously asked in
UPSC IAS – 2017
Download PDFAttempt Online
The term ‘Domestic Content Requirement’ (DCR) refers to a government policy that mandates a certain percentage of goods or services used in a project or product must be domestically produced or sourced. This is a trade-related measure often used to promote domestic industry, job creation, and technological development. In India, DCR has been notably implemented and debated, particularly in the context of developing solar power production under schemes like the National Solar Mission. The policy required solar power projects benefiting from government support to use domestically manufactured solar cells and modules for a portion of their capacity.
– Domestic Content Requirement (DCR) mandates sourcing goods or services locally.
– DCR has been a prominent policy feature in India’s solar power sector development.
DCR policies can sometimes be controversial and may face challenges under international trade agreements, such as those of the World Trade Organization (WTO), if they are deemed discriminatory against foreign producers. India’s solar DCR policy, for example, was challenged at the WTO by the United States.

184. Which of the following statements is/are correct regarding the Monetar

Which of the following statements is/are correct regarding the Monetary Policy Committee (MPC) ?

  • 1. It decides the RBI’s benchmark interest rates.
  • 2. It is a 12-member body including the Governor of RBI and is reconstituted every year.
  • 3. It functions under the chairmanship of the Union Finance Minister.

Select the correct answer using the code given below :

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

This question was previously asked in
UPSC IAS – 2017
Download PDFAttempt Online
The correct answer is A, stating that only statement 1 is correct.
The Monetary Policy Committee (MPC) was established to fix the benchmark policy interest rate (repo rate) to achieve the inflation target set by the government.
Statement 2 is incorrect. The MPC in India is a six-member body. Three members are from the RBI (including the Governor, who is the ex-officio Chairperson) and three members are appointed by the Central Government. The terms of government-appointed members are typically fixed (e.g., four years) and not necessarily reconstituted every year. Statement 3 is incorrect; the MPC functions under the chairmanship of the Governor of the Reserve Bank of India, not the Union Finance Minister.

185. What is/are the purpose/purposes of Government’s ‘Sovereign Gold Bond

What is/are the purpose/purposes of Government’s ‘Sovereign Gold Bond Scheme’ and ‘Gold Monetization Scheme’?

  • 1. To bring the idle gold lying with Indian households into the economy
  • 2. To promote FDI in the gold and jewellery sector
  • 3. To reduce India’s dependence on gold imports

Select the correct answer using the code given below.

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

This question was previously asked in
UPSC IAS – 2016
Download PDFAttempt Online
Statement 1 is correct. Both the Sovereign Gold Bond Scheme (SGBS) and the Gold Monetization Scheme (GMS) aim to mobilize the large quantity of idle gold held by households and institutions in India, bringing it into the formal financial system. Statement 2 is incorrect. The schemes are primarily focused on domestic gold and reducing reliance on imports, not on promoting Foreign Direct Investment (FDI) in the gold and jewellery sector. Statement 3 is correct. By providing alternatives to holding physical gold and encouraging the use of domestic idle gold, the schemes aim to reduce the demand for gold imports, thereby helping to manage the current account deficit. Therefore, statements 1 and 3 correctly describe the purposes.
Sovereign Gold Bonds offer an alternative to holding physical gold, providing returns linked to gold prices plus an interest. The Gold Monetization Scheme allows individuals/institutions to deposit idle physical gold with banks, earn interest, and get principal and interest in gold or rupees.
The SGBS is a scheme where investors can buy bonds in denominations of grams of gold. These are issued by the Reserve Bank of India on behalf of the Government. The GMS aims to convert physical gold into deposit certificates. Both schemes are part of the government’s strategy to reduce reliance on gold imports and promote financial savings.

186. Recently, India’s first ‘National Investment and Manufacturing Zone’ w

Recently, India’s first ‘National Investment and Manufacturing Zone’ was proposed to be set up in

[amp_mcq option1=”Andhra Pradesh” option2=”Gujarat” option3=”Maharashtra” option4=”Uttar Pradesh” correct=”option1″]

This question was previously asked in
UPSC IAS – 2016
Download PDFAttempt Online
The correct option is A, as India’s first National Investment and Manufacturing Zone (NIMZ) was proposed to be set up in Andhra Pradesh.
– The National Manufacturing Policy (NMP) 2011 proposed the establishment of National Investment and Manufacturing Zones (NIMZs) to promote manufacturing sector growth.
– NIMZs are envisaged as integrated industrial townships with state-of-the-art infrastructure.
– The first NIMZ notified by the Government of India under the NMP 2011 was the Prakasam NIMZ in Andhra Pradesh.
Several other NIMZs are being planned or developed across India, often along proposed industrial corridors like the Delhi-Mumbai Industrial Corridor (DMIC), Chennai-Bengaluru Industrial Corridor (CBIC), etc.

187. The term ‘Base Erosion and Profit Shifting’ is sometimes seen in the n

The term ‘Base Erosion and Profit Shifting’ is sometimes seen in the news in the context of

[amp_mcq option1=”mining operation by multinational companies in resource-rich but backward areas” option2=”curbing of the tax evasion by multinational companies” option3=”exploitation of genetic resources of a country by multinational companies” option4=”lack of consideration of environmental costs in the planning and implementation of developmental projects” correct=”option2″]

This question was previously asked in
UPSC IAS – 2016
Download PDFAttempt Online
The correct option is B, as the term ‘Base Erosion and Profit Shifting’ is seen in the news in the context of curbing tax practices by multinational companies.
– ‘Base Erosion and Profit Shifting’ (BEPS) refers to tax planning strategies used by multinational enterprises (MNEs) to exploit gaps and mismatches in tax rules across different countries.
– These strategies allow MNEs to ‘erode’ their tax base in higher-tax jurisdictions and ‘shift’ profits to lower-tax jurisdictions, often where there is little or no real economic activity, resulting in minimal or no corporate tax being paid.
– The OECD (Organisation for Economic Co-operation and Development) initiated the BEPS project to tackle these issues and ensure that profits are taxed where economic activities generating the profits are performed and where value is created. Thus, it is about curbing tax avoidance (which is legal but exploits loopholes) by multinational companies.
– Options A, C, and D relate to different issues (mining, genetic resources, environmental costs) unrelated to BEPS.
The OECD/G20 Inclusive Framework on BEPS brings together over 140 countries and jurisdictions to collaborate on the implementation of BEPS measures and address remaining BEPS issues.

188. What is/are the purpose/purposes of the ‘Marginal Cost of Funds based

What is/are the purpose/purposes of the ‘Marginal Cost of Funds based Lending Rate (MCLR)’ announced by RBI?

  • 1. These guidelines help improve the transparency in the methodology followed by banks for determining the interest rates on advances.
  • 2. These guidelines help ensure availability of bank credit at interest rates which are fair to the borrowers as well as the banks.

Select the correct answer using the code given below.

[amp_mcq option1=”1 only” option2=”2 only” option3=”Both 1 and 2″ option4=”Neither 1 nor 2″ correct=”option3″]

This question was previously asked in
UPSC IAS – 2016
Download PDFAttempt Online
Both statements 1 and 2 correctly describe the purposes of the Marginal Cost of Funds based Lending Rate (MCLR) announced by RBI. MCLR was introduced to replace the Base Rate system to improve transparency in how banks determine interest rates on loans and to ensure that changes in the RBI’s policy rates are transmitted more effectively to borrowers. This aims to make interest rates fairer for both banks (reflecting their cost of funds more accurately) and borrowers (ensuring timely benefit from policy rate cuts).
MCLR is an internal benchmark for banks, based on the marginal cost of borrowing. It replaced the Base Rate system for all new floating rate loans sanctioned from April 1, 2016.
The key components of MCLR include the marginal cost of funds, negative carry on account of CRR, operating costs, and tenure premium. RBI’s objective with MCLR was to improve the monetary policy transmission mechanism and enhance transparency in lending rates. MCLR rates are reviewed and published monthly by banks.

189. India’s ranking in the ‘Ease of Doing Business Index’ is sometimes see

India’s ranking in the ‘Ease of Doing Business Index’ is sometimes seen in the news. Which of the following has declared that ranking?

[amp_mcq option1=”Organization for Economic Cooperation and Development (OECD)” option2=”World Economic Forum” option3=”World Bank” option4=”World Trade Organization (WTO)” correct=”option3″]

This question was previously asked in
UPSC IAS – 2016
Download PDFAttempt Online
The ‘Ease of Doing Business Index’ is a widely recognized index that ranks countries based on how conducive their regulatory environment is to the starting and operation of a local firm.
This index was published annually by the World Bank Group. It measured aspects such as starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency.
The World Bank discontinued the ‘Doing Business’ report series (which included the Ease of Doing Business Index) in September 2021 following allegations of data irregularities. However, during its publication period, the World Bank was the sole authority for this ranking.

190. ‘Net metering’ is sometimes seen in the news in the context of promoti

‘Net metering’ is sometimes seen in the news in the context of promoting the

[amp_mcq option1=”production and use of solar energy by the households/consumers” option2=”use of piped natural gas in the kitchens of households” option3=”installation of CNG kits in motor-cars” option4=”installation of water meters in urban households” correct=”option1″]

This question was previously asked in
UPSC IAS – 2016
Download PDFAttempt Online
‘Net metering’ is a billing mechanism applied to solar energy systems and other renewable energy systems.
It allows consumers who generate their own electricity (e.g., using rooftop solar panels) to send excess electricity back to the grid. The consumer’s electricity meter runs backward to provide a credit for the energy fed to the grid, or the utility tracks the credit separately. This credits the consumer for the energy produced, effectively promoting the production and use of renewable energy, particularly solar energy, by households and other consumers.
Net metering policies vary by region and utility but are designed to encourage investment in renewable energy generation by residential and commercial customers. It contrasts with gross metering, where all generated energy is exported to the grid and paid for separately from consumed energy.
Page 1Page 2Page 3Page 4Page 5
Exit mobile version