NABARD is the apex institution in the country which looks after the development of the cottage industry, small industry and village industry, and other rural industries. Its other functions are: to coordinate the rural financing activities of all institutions engaged in developmental work at the field level and maintain liaison with Government of India, State Governments, Reserve Bank of India (RBI) and other national level institutions concerned with policy formulation; to re-finance the financial institutions which finances the rural sector; to regulate the cooperative banks and the RRB’s, etc. NABARD’s refinance is available to State Co-operative Agriculture and Rural Development Banks (SCARDBs), State Co-operative Banks (SCBs), Regional Rural Banks (RRBs), Commercial Banks (CBs) and other financial institutions approved by RBI.

Correct Option: D

NABARD is the apex institution in the country which looks after the development of the cottage industry, small industry and village industry, and other rural industries. Its other functions are: to coordinate the rural financing activities of all institutions engaged in developmental work at the field level and maintain liaison with Government of India, State Governments, Reserve Bank of India (RBI) and other national level institutions concerned with policy formulation; to re-finance the financial institutions which finances the rural sector; to regulate the cooperative banks and the RRB’s, etc. NABARD’s refinance is available to State Co-operative Agriculture and Rural Development Banks (SCARDBs), State Co-operative Banks (SCBs), Regional Rural Banks (RRBs), Commercial Banks (CBs) and other financial institutions approved by RBI.

The Tara pore Committee on capital account convertibility had laid down a three year, three phase schedule for allowing convertibility. It laid down three pre-conditions: (a) fiscal consolidation implying that the centre’s fiscal deficit should come down to 3.5 per cent of GDP; (b) a mandated inflation target; and (c) strengthening of the financial system to (i) involve a near complete clampdown on activities of weak banks, (ii) major cut in the CRR, and (iii) complete deregulation of interest rates.

Correct Option: A

The Tara pore Committee on capital account convertibility had laid down a three year, three phase schedule for allowing convertibility. It laid down three pre-conditions: (a) fiscal consolidation implying that the centre’s fiscal deficit should come down to 3.5 per cent of GDP; (b) a mandated inflation target; and (c) strengthening of the financial system to (i) involve a near complete clampdown on activities of weak banks, (ii) major cut in the CRR, and (iii) complete deregulation of interest rates.

There are primarily two types of economies capitalist or free market economy and socialist economy. Mixed economy is a median between these two main economies taking some characteristics of either of them. We have adopted mixed economy in India. All the basic industries such as railways, post and telegraph, defence production, atomic energy etc. are in the public sector. Industries dealing with consumer goods are in the private sector. India has a pubic private partnership economy

Correct Option: D

There are primarily two types of economies capitalist or free market economy and socialist economy. Mixed economy is a median between these two main economies taking some characteristics of either of them. We have adopted mixed economy in India. All the basic industries such as railways, post and telegraph, defence production, atomic energy etc. are in the public sector. Industries dealing with consumer goods are in the private sector. India has a pubic private partnership economy

Rising population can be a virtue or can be vice with regards to economic development of a country. In India, demerits of population growth outweigh its merits. Due to large population size and its rate of growth, our per capita income continues to be stagnant at a low level. Since First Five Year Plan, our national income has increased about 11 times but our per capita income has increased only about three and half times, thanks to the rise in population. Also, large population size has tended to reduce the land man ratio in India which reduces productivity of land and labour. Growing population has also reduced per capita availability of cereals and pulses. Further, due to high growth rate of population, unemployment is assuming monstrous proportions. Lack of employment opportunities outside agriculture, builds pressure on farming as a source of subsistence. Consequently, disguised unemployment in the farming sector is emerging as a serious challenge.

Correct Option: C

Rising population can be a virtue or can be vice with regards to economic development of a country. In India, demerits of population growth outweigh its merits. Due to large population size and its rate of growth, our per capita income continues to be stagnant at a low level. Since First Five Year Plan, our national income has increased about 11 times but our per capita income has increased only about three and half times, thanks to the rise in population. Also, large population size has tended to reduce the land man ratio in India which reduces productivity of land and labour. Growing population has also reduced per capita availability of cereals and pulses. Further, due to high growth rate of population, unemployment is assuming monstrous proportions. Lack of employment opportunities outside agriculture, builds pressure on farming as a source of subsistence. Consequently, disguised unemployment in the farming sector is emerging as a serious challenge.

Antyodaya Anna Yojana (AAY) is a centrally sponsored scheme which was launched on December 25, 2000 for one crore of the poorest families. It is an important milestone in providing foodgrains to the poor. It contemplated providing 25 kg. of foodgrains per month at highly subsidized rates of Rs. 2 per kg. for wheat and Rs. 3 per kg. for rice to each Antyodaya family. This scheme reflects the commitment of the Government of India to ensure food security for all, create a hunger free India in the next five years and to reform and improve the Public Distribution System so as to serve the poorest of the poor in rural and urban areas.

Correct Option: D

Antyodaya Anna Yojana (AAY) is a centrally sponsored scheme which was launched on December 25, 2000 for one crore of the poorest families. It is an important milestone in providing foodgrains to the poor. It contemplated providing 25 kg. of foodgrains per month at highly subsidized rates of Rs. 2 per kg. for wheat and Rs. 3 per kg. for rice to each Antyodaya family. This scheme reflects the commitment of the Government of India to ensure food security for all, create a hunger free India in the next five years and to reform and improve the Public Distribution System so as to serve the poorest of the poor in rural and urban areas.