SOLUTIONS – INSIGHTS REVISION TEST for Preliminary Exam 2018: Test – 58(Economy)

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SOLUTIONS 

INSIGHTS REVISION TEST for Preliminary Exam 2018: Test – 58(Economy)


 

 

1. Saathiya Resource Kits are launched to help which of the following beneficiaries:

  1. Women
  2. Children
  3. Adolescents
  4. Mentally Challenged

Select you answer using the codes below:

a) 1 and 2 only

b) 3 only

c) 4 only

d) 3 and 4 only

Solution: b

SAATHIYA Resource Kit including ‘Saathiya Salah’ Mobile App for adolescents as part of the Rashtriya Kishor Swasthya Karyakram (RKSK) program.

One of the key interventions under the programme is introduction of the Peer Educators (Saathiyas) who act as a catalyst for generating demand for the adolescent health services and imparting age appropriate knowledge on key adolescent health issues to their peer groups.

In order to equip the Saathiyas in doing so, the Health Ministry has launched the Saathiya Resource Kit (including ‘Saathiya Salah’ Mobile App).

 


2. Consider the following about various health initiatives:

  1. Intensified Diarrhea control fortnight is covered using ASHA volunteers
  2. Rashtriya Bal Swasthya Karykram is a specific program for under 5 mortality control

Select your answer using the codes below:

a) 1 only

b) 2 only

c) Both 1 and 2

d) None of the above

Solution: a

Rashtriya Bal Swasthya Karyakram

  • launched in 2013
  • provision for Child Health Screening and Early Intervention Services through early detection and management of 4 Ds i.e. defects at birth, diseases, deficiencies, development delays including disability and free management of 30 identified health conditions including surgery at tertiary health facilities.
  • Children between 0-18 years of age are expected to be covered in a phased manner across the country.

(Hence statement 2 is incorrect)

 

Intensified Diarrhea Control Fortnight

  • It is a programme to combat diarrheal mortality in children with the ultimate aim of zero child deaths due to childhood diarrhea.
  • implemented across all states and UTs

more than 14.7 crore under-5 children have been reached since 2014 by ASHA with prophylactic ORS. (Hence statement 1 is correct)

  • Main activities include intensification of advocacy activities, awareness generation activities, diarrhea management service provision, establishing ORS-zinc demonstration sites, ORS distribution by ASHA through home visitation, detection of undernourished children and their treatment, promotion of infant and young child feeding activities by home visits by ASHA and establishing IYCF corners.

3. What is Greenfield investment?

a) A form of foreign direct investment where a parent company starts a new venture in a foreign country by constructing new operational facilities.

b) A form of foreign direct investment where a company purchases or leases existing production facilities to launch a new production activity.

c) Investment by non-resident Indians.

d) Investment in shares and debts.

 

Solution:a

 

Green-field and brown-field investments are two different types of foreign direct investment (FDI). Greenfield investments occur when a parent company or government begins a new venture by constructing new facilities in a country outside of where the company is headquartered. Brown-field investments occur when an entity purchases an existing facility to begin new production.


 

4. Consider the following facts about green revolution:

 

  1. The term green revolution was given by M.S.Swaminathan
  2. The HYV seeds were a result of experiments carried out in Mexico
  3. Rockefeller foundation was the chief architect on research and development of hybrid seeds

Select the correct statements using the codes below:

 

a) 1 and 2 only

b) 2 and 3 only

c) 2 only

d) 1, 2 and 3

 

Solution: b

 

The term “Green Revolutionwas coined by William Gaud whilst Director of the United States Agency for International Development (USAID). He was describing the spectacular increases in cereal crop yields that were achieved in developing countries during the 1960s. (Hence statement 1 is incorrect)

 

 

HYV or semi-dwarf varieties ( I ) developed at the International Maize and Wheat Improvement Center (CIMMYT) in Mexico and the International Rice Research Institute (IRRI) in the Philippines. (Hence statement 2 is correct)

 

 

The Rockefeller Foundation (RF)’s Mexican Agriculture Program (MAP), which operated from 1943 to 1965, is now credited with launching the global transformation known as the “Green Revolution.” (Hence statement 3 is correct)

 

https://rockfound.rockarch.org/mexico


5. Consider the following statements with respect to mortality rates in India:

 

  1. Goa is the best performer in terms of IMR
  2. Kerala has higher percentage of institutional deliveries compared to Goa

 

Select the correct answers using the cods below:

 

a) 1 only

b) 2 only

c) Both 1 and 2

d) None of the above

 

Solution: c

According to NITI ayog both the statement are correct. Please go through the following link for further information.

 

http://niti.gov.in/content/institutional-deliveries#

 

http://niti.gov.in/content/infant-mortality-rate-imr-1000-live-births


 

6.consider the following about operation greens:

 

  1. It is on the lines of rainbow revolution
  2. It will promote FPOs, agri-logistics, processing facilities and professional management

 

Select your answer using the codes below:

 

a) 1 only

b) 2 only

c) Both 1 and 2

d) None of the above

 

Solution: b

 

Operation Greens

To promote farmer producers organisations, agri-logistics, processing facilities and professional management. (Hence statement 2 is correct)

 

It aims to aid farmers and help control and limit the erratic fluctuations in the prices of onions, potatoes and tomatoes

 

It will help in doubling the income of farmers by the end of 2022

The rainbow revolution is different from the operation green. Hence statement 1 is incorrect


7. Which of the following statements is NOT correct with respect to Union Budget:

 

a) Highest share of expenditure goes to interest payments

b) Centrally sponsored schemes are 100% financed by the Centre

c) GST and other taxes contribute the largest share in income

d) Non-debt capital receipts and customs contribute the least share in income

 

Solution:a


 

8. Consider the following about Pradhan mantri adarsh gram yojana:

 

  1. The principal objective of the Scheme is integrated development of SC Majority Villages
  2. PMAGY is under the aegis of Ministry of Rural Development

 

Select the correct statements using the codes below:

 

a) 1 only

b) 2 only

c) Both 1 and 2

d) None of the above

 

Solution: a

 

PMAGY

The principal objective of the Scheme is integrated development of SC Majority Villages: (Hence statement 1 is correct) Primarily through convergent implementation of the relevant Central and State Schemes;

 

By providing these villages Central Assistance in form of gap-filling funds to the extent of Rs.20.00 lakh per village, to be increased by another 5 lakh if State make a matching contribution.

 

By providing gap-filling component to take up activities which do not get covered under the existing Central and State Government Schemes.

 

It is under ministry of social justice and empowerment. Hence statement 2 is incorrect.

 

http://socialjustice.nic.in/SchemeList/Send/40?mid=24541


 

 9. Consider the following statement with respect to black money:

 

  1. GOI can confiscate foreign assets as per Fugitive Economic offenders bill
  2. Shell companies are companies located abroad

 

Select the correct statements using the codes below:

 

a) 1 only

b) 2 only

c) Both 1 and 2

d) None of the above

 

Solution: a

 

The Companies Act, 2013 has not defined what a ‘shell company’ is and as to what kind of activities would lead to a company being termed a ‘shell’. (Hence statement 2 is incorrect).

Shell companies are typically corporate entities which do not have any active business operations or significant assets in their possession. The government views them with suspicion as some of them could be used for money laundering, tax evasion and other illegal activities.

 

Is there a law governing shell companies?

In India, there is no specific law relating to “shell companies.” However, some laws help, to an extent, in curbing illegal activities such as money laundering and can indirectly be used to target shell companies — Benami Transaction (Prohibition) Amendment Act 2016; The Prevention of Money Laundering Act 2002 and The Companies Act, 2013.


 

10. Consider the following about Mahila e-Haat:

 

  1. The portal has been set up using funds from the Rashtriya Mahila Kosh
  2. All products must showcase the mahila e-haat logo on their products

 

Which of the above statements is/are correct:

 

a) 1 and 2 only

b) 1 only

c) 2 only

d) none

 

Solution: a

 

Mahila E-Haat is an initiative for meeting aspirations and needs of women entrepreneurs. It is an online marketing platform for women, where participants can display their products. It is an initiative for women across the country as a part of ‘Digital India’ and ‘Stand Up India’ initiatives. The platform has been set up by the Ministry of Women and Child Development, Government of India under Rashtriya Mahila Kosh (RMK). Hence statement 1 is correct.

 

all the sellers are required to show the Mahila e-Haat logo on their products. However, this does not mean they will have to do away with their own brand logos; both can be used at the same time. Hence statement 2 is correct.

https://www.livemint.com/Politics/MoreGQJvezEut9Q9A7qM1L/Digital-marketing-platform-Mahila-eHaat-launched-for-women.html

 


11. Consider the following sub-schemes with respect to Nirbhaya fund:

 

  1. One stop centre
  2. Women helpline
  3. Mahila Police Volunteer
  4. Reserved/Special Coach/Buses

 

Which of the above are covered under the fund:

 

a) 1 and 2 only

b) 1,2 and 3 only

c) 1 and 4 only

d) 1, 2, 3 and 4

 

Solution: b

 

Keeping in mind the need to have schematic interventions and proper mechanism for handholding of women in distress, 3 schemes i.e. ‘ One Stop Centre’, ‘Universalisation of Women Helpline’ and ‘Mahila Police Volunteer’ were initiated by the Ministry of Women and Child Development from the Nirbhaya Fund

http://pib.nic.in/newsite/PrintRelease.aspx?relid=157727

 

It does not provide for reserved or specials but provides for panic buttons in various modes of public transportation and cctv coverage & GPS.


12. Consider the following about Adolescent Friendly Health Clinics (AFHCs):

 

  1. They are the nodal point for Weekly iron folic scheme and contraceptives
  2. These centres are part of National Health mission

 

Which of the above statements is/are correct:

 

a) 1 only

b) 2 only

c) Both 1 and 2

d) None of the above

 

Solution: c

Adolescent Friendly Health Clinics (AFHCs)

counselling and curative services are provided at primary, secondary and tertiary levels of care on fixed days and fixed time with due referral linkages

Commodities available at AFHC

 

  • Weekly Iron & Folic Acid Supplementation & Albendazole
  • Sanitary napkins
  • Contraceptives
  • Medicines

 

It’s a part of NHM.

 

http://nhm.gov.in/nrhm-components/rmnch-a/adolescent-health-rksk/afhcs/background.html

 

 


13. Consider the following statements about Global Entrepreneurship Summit 2017:

 

  1. The theme of the summit was “ women first, Prosperity for all”
  2. This was the first edition of Global entrepreneurship summit

 

Which of the above statements is/are correct:

 

a) 1 only

b) 2 only

c) Both 1 and 2

d) None of the above

 

Solution: a

Global Entrepreneurship Summit (GES 2017)  — Hyderabad

  • preeminent annual entrepreneurship gathering that convenes over one thousand emerging entrepreneurs, investors, and supporters from around the world
  • It is organized annually since 2010. (Hence statement 2 is incorrect)
  • The theme for 2017 GES is “Women First, Prosperity for Allto celebrate entrepreneurship in all its strength, diversity and entirety. (Hence statement 1 is correct)
  • The four primary focus areas of GES 2017 are
  1. Digital Economy and Financial Technology
  2. Health Care and Life Sciences,
  3. Energy and Infrastructure
  4. Media and Entertainment.

 

 

https://www.ges2017.org/

 


14. Which of the following are not for profit companies set up in partnership with the government:

 

  1. National institute for smart government
  2. Goods and services tax network
  3. National investment and infrastructure fund

 

Select the correct answers using the codes below:

 

a) 1 and 2 only

b) 2 and 3 only

c) 1, 2 and 3

d) 3 only

 

Solution: a

 

NISG is a not-for-profit company setup in a Public-Private-Partnership (PPP) in 2002 under the recommendations of The National Taskforce on Information Technology & Software Development, with 51% equity contributed by the private sector & 49% by the public sector.

 

Goods and Services Tax Network (GSTN) is a Section 8 (under new companies Act, not for profit companies are governed under section 8), non-Government, private limited company. It was incorporated on March 28, 2013. The Government of India holds 24.5% equity in GSTN and all States of the Indian Union, including NCT of Delhi and Puducherry, and the Empowered Committee of State Finance Ministers (EC), together hold another 24.5%. Balance 51% equity is with non-Government financial institutions.

National Investment and Infrastructure Fund (NIIF) is a fund created by the Government of India for enhancing infrastructure financing in the country. This is different from the National Investment Fund.


15. Which of the following is a feature of Pradhan Mantri Gram Sadak Yojana Phase III:

a) To improve and upgrade existing roads to all weather roads

b) To change from sinle lane to two lane roads

c) To connect hospitals and schools

d) To improve quality of roads using locally made materials

Solution: c

Phase-III of PMGSY is planned to be launched to connect hospitals and schools with major link routes in the interiors of villages.

Pradhan Mantri Gram Sadak Yojana (PMGSY)

  • Centrally Sponsored Scheme introduced in 2000
  • Aim : provide good all-weather road connectivity to unconnected villages habitations with a population of above 500 in the plains and above 250 in the hilly areas planned to be connected by all-weather roads

 


16. What do you mean by the term tax expenditure?

a) Amount of money spent on tax administration

b) Amount of interest which has to paid on income tax refunds

c) Amount the government could not collect because of various exemptions

d) Amount of money which was spent as a proportion of tax collected

Solution: c

Tax Expenditures, as the word might indicate, does not relate to the expenditures incurred by the Government in the collection of taxes. Rather it refers to the opportunity cost of taxing at concessional rates, or the opportunity cost of giving exemptions, deductions, rebates, deferrals credits etc. to the tax payers. Tax expenditures indicate how much more revenue could have been collected by the Government if not for such measures. In other words, it shows the extent of indirect subsidy enjoyed by the tax payers in the country.

http://arthapedia.in/index.php?title=Tax_Expenditures


 17. Consider the following about financial sector legislative reforms commission (FSLRC):

  1. Unified financial authority
  2. Credit registry office
  3. Financial sector development council
  4. Financial resolution and deposit insurance

Which of the above bodies/agencies were proposed by it:

a) 1 and 3 only

b) 1, 2 and 3 only

c) 1, 3 and 4 only

d) 1, 2, 3 and 4

Solution: c

   


18. Consider the following statements about bank nationalization:

  1. RBI was nationalized in 1949
  2. Air India was nationalized in 1953 by the air corporations act

Which of the above statements is/are correct:

a) 1 only

b) 2 only

c) Both 1 and 2

d) None of the above

 

Solution: c

The Reserve Bank of India was nationalised with effect from 1st January, 1949 (hence statement 1 is correct)on the basis of the Reserve Bank of India (Transfer to Public Ownership) Act, 1948. All shares in the capital of the Bank were deemed transferred to the Central Government on payment of a suitable compensation. The image is a newspaper clipping giving the views of Governor CD Deshmukh, prior to nationalisation.

https://rbi.org.in/history/Brief_RBI_Nationalisation.html

Air transport was nationalised by the Government of India under the Air Corporations Act, 1953. (Hence statement 2 is correct))On 25 August 1953, the Government of India exercised its option to purchase a majority stake in the carrier and Air India International Limited was born as one of the fruits of the Air Corporations Act.


19. The criterion of IMF terms such as LPG & conditionality are synonym for loans given under:

a) Compensatory financing facility

b) Extended fund facility

c) Stand by arrangement

d) Supplementary reserve facility

Solution: b

When a country faces serious medium-term balance of payments problems because of structural weaknesses that require time to address, the IMF can assist with the adjustment process under an Extended Fund Facility (EFF). Compared to assistance provided under the Stand-by Arrangement, assistance under an extended arrangement features longer program engagement—to help countries implement medium-term structural reforms—and a longer repayment period.

http://www.brettonwoodsproject.org/2005/08/art-320868/

 


20. Which of the following are part of the World Bank group

  1. Multilateral investment guarantee agency
  2. International convention for settlement of investment disputes
  3. International finance corporation
  4. Global fund for disaster management

Select your answer using the codes below:

a) 1 and 2 only

b) 3 only

c) 1, 2 and 3 only

d) 1, 2 ,3 and 4

Solution: c

http://www.worldbank.org/en/about

The World Bank Group consists of five organizations:

·         The International Bank for Reconstruction and Development-The International Bank for Reconstruction and Development (IBRD) lends to governments of middle-income and creditworthy low-income countries.

·         The International Development Association-The International Development Association (IDA) provides interest-free loans — called credits — and grants to governments of the poorest countries. Together, IBRD and IDA make up the World Bank.

·         The International Finance Corporation-The International Finance Corporation (IFC) is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments.

·         The Multilateral Investment Guarantee Agency-The Multilateral Investment Guarantee Agency (MIGA) was created in 1988 to promote foreign direct investment into developing countries to support economic growth, reduce poverty, and improve people’s lives. MIGA fulfills this mandate by offering political risk insurance (guarantees) to investors and lenders.

·         The International Centre for Settlement of Investment Disputes-The International Centre for Settlement of Investment Disputes (ICSID) provides international facilities for conciliation and arbitration of investment disputes.