IAS Prelims Exam 2017 GS Question Paper - Economy Section Only


Ajit Kumar AJIT KUMARWISDOM IAS, New Delhi.


UPSC had conducted Civil Services Prelim 2017 exam on 18th June, 2017.
 
1. With reference to ‘National Investment and Infrastructure Fund’, which of the following statements is/are correct?
1. It is an organ of NITI Aayog.
2. It has a corpus of Rs. 4, 00,000 crore at present.
Select the correct answer using the code given below:
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Ans. (d)
Expl, The Government of India announced the setting up of National Investment and Infrastructure Fund (NIIF), as a quasi-sovereign wealth fund.  The operational framework was approved on 20 August 2015
The corpus of the Fund is proposed to be of the order of Rs.40,000 cr (US$6 billion) wherein the Government of India would invest 49%, circa Rs.20,000 cr (US$3 billion). NIIF is expected play the role of a catalyst for supporting investments in infrastructure with the objective of maximizing economic impact through investments in commercially viable projects, both green field and brown field, including stalled projects. NIIF shall also consider other nationally important projects, if found commercially viable.
Green-field investments occur when a parent company begins a new venture by constructing new facilities in a country outside of where the company is headquartered. Brown-field investments occur when a company or government purchases an existing facility to begin new production.

2. The Global Infrastructure Facility is a/an

(a) ASEAN initiative to upgrade infrastructure in Asia and financed by credit from the Asian Development Bank.
(b) World Bank collaboration that facilitates the preparation and structuring of complex infrastructure Public-Private Partnerships (PPPs) to enable mobilization of private sector and institutional investor capital.
(c) Collaboration among the major banks of the world working with the OECD and focused on expanding the set of infrastructure projects that have the potential to mobilize private investment.
(d) UNCTAD funded initiative that seeks to finance and facilitate infrastructure development in the world.
Ans. (b)
A World Bank collaboration the Global Infrastructure Facility (GIF) is a global, open platform that facilitates the preparation and structuring of complex infrastructure public private partnerships (PPPs) to enable mobilization of private sector and institutional investor capital. The GIF platform coordinates and integrates the efforts of Multilateral Development Banks (MDBs), private sector investors and financiers, and governments interested in infrastructure investment in Emerging Markets and Developing Economies (EMDEs).

3. With reference to ‘National Skills Qualification Framework (NSQF)’, which of the statements given below is/are correct?
1. Under NSQF, a learner can acquire the certification for competency only through formal learning.
2. An outcome expected from the implementation of NSQF is the mobility between vocational and general education.
Select the correct answer using the code given below:
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2

Ans. (b)
The National Skills Qualifications Framework (NSQF) is a competency-based framework that organizes all qualifications according to a series of levels of knowledge, skills and aptitude. These levels, graded from one to ten, are defined in terms of learning outcomes which the learner must possess regardless of whether they are obtained through formal, non-formal or informal learning. NSQF in India was notified on 27th December 2013. All otherframeworks, including the NVEQF (National Vocational Educational Qualification Framework) released by the Ministry of HRD, stand superceded by the NSQF.
Specific outcomes expected from implementation of NSQF are:
- Mobility between vocational and general education by alignment of degrees with NSQF
- Recognition of Prior Learning (RPL), allowing transition from non-formal to organised job market
- Standardised, consistent, nationally acceptable outcomes of training across the country through a national quality assurance framework
- Global mobility of skilled workforce from India, through international equivalence of NSQF
- Mapping of progression pathways within sectors and cross-sectorally
- Approval of NOS/QPs as national standards for skill training
 
4. Consider the following in respect of ‘National Career Service’:
1. National Career Service is an initiative of the Department of Personnel and Training, Government of India.
2. National Career Service has been launched in a Mission Mode to improve the employment opportunities to uneducated youth of the country.
Which of the above statements is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Ans. (d)
National Career Service (NCS) project is an initiative launched by the Ministry of Labour and Employment (India)Government of India as a Mission Mode Project for establishing quick and efficient career related services. It was launched by Prime Minister on 20 July 2015 as part of government’s focus on providing right skills and generating employment.
The NCS is the converging point for Government of India three major initiatives, Skill India, Digital India and Make in India, that aim to provide skilled manpower, improve digital infrastructure and generate employment opportunities for all.

5. Which of the following statements best k describes the term ‘Scheme for Sustainable Structuring of Stressed Assets (S4A)’, recently seen in the news?

(a) It is a procedure for considering ecological costs of developmental schemes formulated by the Government.
(b) It is a scheme of RBI for reworking the financial structure of big corporate entities facing genuine difficulties.
(c) It is a disinvestment plan of the Government regarding Central Public Sector Undertakings.
(d) It is an important provision in ‘The Insolvency and Bankruptcy Code’ recently implemented by the Government.
Ans. (b)
The Reserve Bank of India’s Scheme for Sustainable Structuring of Stressed Assets (S4A) is yet another tool provided to banks to tackle the growing challenge of stressed assets emanating from loans given to large corporates turning bad. The scheme was launched on 13 June 2016 .

6. Consider the following statements :
The nation-wide ‘Soil Health Card Scheme’ aims at
1. expanding the cultivable area under irrigation.
2. enabling the banks to assess the quantum of loans to be granted to farmers on the basis of soil quality.
3. checking the overuse of fertilizers in farmlands.

Which of the above statements is/are correct?
(a) 1 and 2 only
(b) 3 only
(c) 2 and 3 only
(d) 1, 2 and 3
Ans. (b)
The main reason to introduce the Soil Health Card is soil deterioration. Soil has not only deteriorated in many parts of the country but also has been tendered useless for irrigation. The main reasons for soil deterioration include mindless use of chemical fertilizers, low use of organic matter and non-replacement of depleted micro and secondary nutrients in the soil. Due to all these, the nutrient deficiencies and decrease in soil fertility made farming unproductive.
The Soil Health Card Scheme will do a proper review of the sample of the soil. And after the review, a soil health card will be prepared which will contain below details.

 1. Health of the soil.
 2. Functional characteristics of the soil.
 3. The content of water and various nutrients in the soil.
 4. If the soil has any additional properties, the card would list those.
5. The corrective measures which a farmer can take to improve the flaws of his soil.
 
7. Which of the following has/have occurred in India after its liberalization of economic policies in 1991?
1. Share of agriculture in GDP increased enormously.
2. Share of India’s exports in world trade increased.
3. FDI inflows increased.
4. India’s foreign exchange reserves increased enormously.

Select the correct answer using the codes given below :
(a) 1 and 4 only
(b) 2, 3 and 4 only
(c) 2 and 3 only
(d) 1, 2, 3 and 4
Ans. (b)
The post-reform period shows the gradual decline in the agriculture sector’s contribution to the Indian economy. India’s traditional occupation, agriculture now contributes only about 15% to the GDP, down from 29 percent in 1991.
Over the last 25 years since India’s liberalisation, its foreign trade has expanded multifold and seen significant structural shifts in product as well as geographic composition. The easing of quantitative restrictions as well as significant reduction in tariff levels across product lines has aided the growth of foreign trade in the first two decades post liberalisation. In-fact, the share of foreign trade (both exports and imports) in India’s GDP stood at over 43 percent during 2011-13 as against 13 -15 percent during early nineties.
It is interesting to note that while global FDI inflow increased more than ten times, the increase for developed and developing nations was more than eight and fifteen times respectively during 1991-2008.
Before 1991, foreign investment was negligible. The first year of reform saw a total foreign investment of only $74 million. However, investments have steadily risen since then, except for occasional blips between 1997 and 2000 and 2008 and 2012 – owing to the global economic slowdown. As of 31 March 2016, the country has received total FDI of $371 billion, since 1991.

8. Consider the following statements:
1. National Payments Corporation of India (NPCI) helps in promoting the financial inclusion in the country.
2. NPCI has launched RuPay, a card payment scheme.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Ans. (c)
National Payments Corporation of India (NPCI) is an umbrella organization for all retail payments system in India. It was set up with the guidance and support of the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA). 

The RBI, after setting up the Board for Regulation and Supervision of Payment and Settlement Systems (BPSS) in 2005, released a vision document incorporating a proposal to set up an umbrella institution for all the RETAIL PAYMENT SYSTEMS in the country. The core objective was to consolidate and integrate the multiple systems with varying service levels into nation-wide uniform and standard business process for all retail payment systems. The other objective was to facilitate an affordable payment mechanism to benefit the common man across the country and help financial inclusion.

During the last five years, the organization has grown multi-fold from 2 million transactions a day to 20 million transactions now. From a single service of switching of inter-bank ATM transactions, the range of services has grown to Cheque Clearing, Immediate Payments Service (24x7x365), Automated Clearing House, Electronic Benefit Transfer and a domestic card payment network named RuPay to provide an alternative to international card schemes. As on end-October 2015 over 220 Million Indians own RuPay cards. 

9. What is/are the most likely advantages of implementing ‘Goods and Services Tax (GST)’?
1. It will replace multiple taxes collected by multiple authorities and will thus create a single market in India.
2. It will drastically reduce the ‘Current Account Deficit’ of India and will enable it to increase its foreign exchange reserves.
3. It will enormously increase the growth and size of economy of India and will enable it to overtake China in the near future.
Select the correct answer using the code given below:
(a) 1 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1, 2 and 3
Ans. (a)
Advantages of GST are -
1. Life gets simpler GST will replace 17 indirect tax levies and compliance costs will fall 
2. Revenue will get a boost - Evasion set to drop - Input tax credit will encourage suppliers to pay taxes - States and Centre will have dual oversight - The number of tax-exempt goods will decline 
3. A common market It's currently fragmented along state lines, pushing costs up 20-30%
4. Logistics, inventory costs will fall 
Checks at state borders slow movement of trucks. In India, they travel 280 km a day?? compared with 800 km in the US 
5. Investment boost 
For many capital goods, input tax credit is not available. Full input tax credit under GST will mean a 12-14% drop in the cost of capital goods. Expected: A 6% rise in capital goods investment, 2% overall. 
6. Make in India 
a) Manufacturing will get more competitive as GST addresses cascading of tax, inter-state tax, high logistics costs and fragmented market b) Increased protection from imports as GST provides for appropriate countervailing duty. 
7. Less developed states get a lift 
The current 2% inter-state levy means production is kept within a state. Under the GST national market, this can be dispersed, creating opportunities for others 
8. Manufactured goods could become cheaper Lower logistics and tax costs 
9. GDP lift HSBC estimates an 80 basis point rise in GDP growth over 3-5 years. NCAER pegs this at 0.9-1.7% 10. Freeing up online State restrictions and levies have complicated ecommerce. Some sellers do not even ship to particular states. All this will end with GST 

10. ‘Broad-based Trade and Investment Agreement (BTIA)’ is sometimes seen in the news in the context of negotiations held between India and
(a) European Union
(b) Gulf Cooperation Council
(c) Organization for Economic Cooperation and Development
(d) Shanghai Cooperation Organization
Ans. (a)
With its combination of rapid growth, complementary trade baskets and relatively high market protection, India is an obvious partner for a free trade agreement (FTA) for the EU. EU and India are committed to further increase their trade flows in both goods and services as well as bilateral investment and access to public procurement through the Bilateral Trade and Investment Agreement (BTIA) negotiations that were launched in 2007.
This would be one of the most significant trade agreements, touching the lives of 1.7 billion people. The parameters for an ambitious FTA were set out in the report of the EU-India High Level Trade Group in October 2006, which was tasked with assessing the viability of an FTA between the EU and India. Other studies have reinforced the economic potential of an FTA between the EU and India, notably a sustainability impact assessment was carried out by the EU. The EU and India remain committed to a successful conclusion of the negotiations

11. Consider the following statements:
1. India has ratified the Trade Facilitation Agreement (TFA) of WTO.
2. TFA is a part of WTO’s Bali Ministerial Package of 2013.
3. TFA came into force in January 2016. Which of the statements given above is/are correct?
(a) 1 and 2 only
(b) 1 and 3 only
(c) 2 and 3 only
(d) 1, 2 and 3
Ans. (a)
In May 2016India ratified the Trade Facilitation Agreement (TFA) of the World Trade Agreement (WTO) and the instrument of Acceptance for Trade Facilitation Agreement was handed over to WTO Director-General by India on April 22, 2016.
The World Trade Organization’s (WTO's) landmark Trade Facilitation Agreement (TFA), which came into force in Feb 2016.
Part of the Bali Package of decisions agreed upon in 2013, the deal is a watershed moment in the organisation's history. This represents the first time that a comprehensive decision has been arrived at through consensus among nations cutting across the major geographical and political blocs.

12. What is the purpose of Vidyanjali Yojana’?
1. To enable the famous foreign educational institutions to open their campuses in India.
2. To increase the quality of education provided in government schools by taking help from the private sector and the community.
3. To encourage voluntary monetary contributions from private individuals and organizations so as to improve the infrastructure facilities for primary and secondary schools.

Select the correct answer using the code given below :
(a) 2 only
(b) 3 only
(c) 1 and 2 only
(d) 2 and 3 only
Ans. (a)
Vidyanjali - (School Volunteer Programme) is an initiative of the Ministry of Human Resource Development, Department of School Education & Literacy to enhance community and private sector involvement in Government run elementary schools across the country under the overall aegis of the Sarva Shiksha Abhiyan. Union Minister for Human Resource Development, Smt. Smriti Zubin Irani in June 16, 2016 dedicated ‘Vidyanjali’- a school volunteer programme to the nation.
The aim of the Vidyanjali Yojana is to develop the society from the poor education system prevailing in some areas, mainly in rural districts. The teacher recruitment process is there but, there is a huge demand of teachers mainly in the primary sections of the govt. schools in every state. So this scheme not only provides a solution to the scarcity of teachers in govt. schools for now, but also gives a noble path to thousands of aspirants to provide teaching services in schools without being selected in regular teaching recruitments.
 
13. What is the aim of the programme ‘Unnat Bharat Abhiyan’?

(a) Achieving 100% literacy by promoting collaboration between voluntary organizations and government’s education system and local communities.
(b) Connecting institutions of higher education with local communities to address development challenges through appropriate technologies.
(c) Strengthening India’s scientific research institutions in order to make India a scientific and technological power.
(d) Developing human capital by allocating special funds for health care and education of rural and urban poor, and organizing skill development programmes and vocational training for them.
Ans. (b)
The Ministry of Human Resource Development (MHRD) in Dec.2014 launched a programme called Unnat Bharat Abhiyan with an aim to connect institutions of higher education, including Indian Institutes of Technology (IITs), National Institutes of Technology (NITs) and Indian Institutes of Science Education & Research (IISERs) etc. with local communities to address the development challenges through appropriate technologies.
           
The objectives of Unnat Bharat Abhiyan are broadly two-fold:
(i) Building institutional capacity in Institutes of higher education in research & training relevant to the needs of rural India.
(ii) Provide rural India with professional resource support from institutes of higher education ,especially those which have acquired academic excellence in the field of Science, Engineering  & Technology  and Management
 
14. Consider the following statements :
1. Tax revenue as a percent of GDP of India has steadily increased in the last decade.
2. Fiscal deficit as a percent of GDP of India has steadily increased in the last decade.
Which of the statements given above is/are correct ?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Ans. (a)
“India’s tax to GDP ratio has increased by about 10 percentage points over the past six decades from about 6% in 1950-51 to 16.6% in 2013-14.”
In 1990-91, the combined Fiscal Deficit of the Centre and States was over 9 % of GDP. Over the last two decades, the combined Fiscal Deficit of 4 % of GDP for 2007-08 has been one of the lowest.

15. The term ‘Domestic Content Requirement’ is sometimes seen in the news with reference to
(a) Developing solar power production in our country
(b) Granting licences to foreign T.V. channels in our country
(c) Exporting our food products to other countries
(d) Permitting foreign educational institutions to set up their campuses in our country
Ans. (a)
India has lost solar case against United States at the World Trade Organisation (WTO) for in breaching of international trade rules. In this regard, WTO’s Dispute Settlement Body (DSB) ruled that India’s domestic content requirement for National Solar Mission (NSM) discriminated against imported solar technology. The DSB ruled that India domestic content requirement lacked domestic manufacturing capacity in solar cells and modules and there was risk of a disruption in imports.

16. Who among the following can join the National Pension System (NPS)?

(a) Resident Indian citizens only
(b) Persons of age from 21 to 55 only
(c) All State Government employees joining the services after the date of notification by the respective State Governments
(d) All Central Government employees including those of Armed Forces joining the services on or after 1St April, 2004
Ans. (c)
Any citizen of India, whether resident or non-resident, subject to the following conditions:  Individuals who are aged between 18 – 60 years as on the date of submission of his/her application to the POP/ POP-SP.
 
The citizens can join NPS either as individuals or as an employee-employer group(s) (corporates) subject to submission of all required information and Know your customer (KYC) documentation. After attaining 60 years of age, you will not be permitted to make further contributions to the NPS accounts.  
 
A NRI can open an NPS account. Contributions made by NRI are subject to regulatory requirements as prescribed by RBI and FEMA from time to time. If the subscriber's citizenship status changes, his/ her NPS account would be closed.
 
NPS is applicable to all new employees of Central Government service (except Armed Forces) and Central Autonomous Bodies joining Government service on or after 1st January 2004. Any other government employee who is not mandatorily covered under NPS can also subscribe to NPS under "All Citizen Model" through a Point of Presence - Service Provider (POP-SP).
 
NPS is applicable to all the employees of State Governments, State Autonomous Bodies joining services after the date of notification by the respective State Governments. Any other government employee who is not mandatorily covered under NPS can also subscribe to NPS under "All Citizen Model" through a Point of Presence - Service Provider (POP-SP).
 
17. Consider the following statements:
1. The Standard Mark of Bureau of Indian Standards (BIS) is mandatory for automotive tyres and tubes.
2. AGMARK is a quality Certification Mark issued by the Food and Agriculture Organisation (FAO).
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Ans (a)
A certification from the Bureau of Indian Standards (BIS) is mandatory for all types of automotive tyres and tubes from May 18.
The Bureau of Indian Standards (BIS) is the national Standards Body of India working under the aegis of Ministry of Consumer Affairs, Food & Public Distribution, Government of India. It is established by the Bureau of Indian Standards Act, 1986 which came into effect on 23 December 1986.
Agmark Certificate issued by Ministry of Agriculture, Govt of India
 
18. What is/are the advantage/advantages of implementing the ‘National Agriculture Market’ scheme?
1. It is a pan-India electronic trading portal for agricultural commodities.
2. It provides the farmers access to nationwide market, with prices commensurate with the quality of their produce.
Select the correct answer using the code given below :
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Ans. (c)
National Agriculture Market (NAM) is a pan-India electronic trading portal which networks the existing APMC mandis to create a unified national market for agricultural commodities.
NAM addresses several challenges of agro-market by creating a unified market through online trading platform, both, at State and National level and promotes uniformity, streamlining of procedures across the integrated markets, removes information asymmetry between buyers and sellers and promotes real time price discovery, based on actual demand and supply, promotes transparency in auction process, and access to a nationwide market for the farmer, with prices commensurate with quality of his produce and online payment and availability of better quality produce and at more reasonable prices to the consumer.
 
19. With reference to the ‘National Intellectual Property Rights Policy’, consider the following statements:
1. It reiterates India’s commitment to the Doha Development Agenda and the TRIPS Agreement.
2. Department of Industrial Policy and Promotion is the nodal agency for regulating intellectual property rights in India.
Which of the above statements is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Ans. (c)
The Policy recognizes that India has a well-established TRIPS-compliant legislative, administrative and judicial framework to safeguard IPRs, which meets its international obligations while utilizing the flexibilities provided in the international regime to address its developmental concerns.  It reiterates India’s commitment to the Doha Development Agenda and the TRIPS agreement.
The action by different Ministries/ Departments shall be monitored by DIPP which shall be the nodal department to coordinate, guide and oversee implementation and future development of IPRs in India.

20. With reference to ‘Quality Council of India (QCI)’, consider the following statements:
1. QCI was set up jointly by the Government of India and the Indian Industry.
2. Chairman of QCI is appointed by the Prime Minister on the recommendations of the industry to the Government.
Which of the above statements is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Ans. (c)
The Quality Council of India (QCI) is a pioneering experiment of the Government of India in setting up organizations in partnership with the Indian industry.
Chairman of QCI is appointed by the Prime Minister on recommendation of the industry to the government.

21. What is the purpose of setting up of Small Finance Banks (SFBs) in India?
1. To supply credit to small business units
2. To supply credit to small and marginal farmers
3. To encourage young entrepreneurs to set up business particularly in rural areas.
Select the correct answer using the code given below:
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1, 2 and 3
Ans. (a)
Small Finance Banks (SFBs) does supply of credit to small business units; small and marginal farmers; micro and small industries; and other unorganised sector entities.

22. With reference to ‘Asia Pacific Ministerial Conference on Housing and Urban Development (APMCHUD)’, consider the following statements:
1. The first APMCHUD was held in India in 2006 on the theme ‘Emerging Urban Forms — Policy Responses and Governance Structure’.
2. India hosts all the Annual Ministerial Conferences in partnership with ADB, APEC and ASEAN.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Ans. (a)
First Asia Pacific Ministerial Conference on Housing and Human Settlements held in 13-16 December, 2006 : New Delhi, The conference theme, “A vision for sustainable urbanisation in the Asia-Pacific by 2020”, was aimed at galvanizing government action and political commitment at the regional level to improve the lives of 581 million slum dwellers.
Theme of the 6th Conference was ‘Emerging Urban Forms - Policy Responses and Governance Structure in the context of the New Urban Agenda’.
Second Asia Pacific Ministerial Conference on Housing and Human Settlements (12-14 May, 2008 : Tehran, Iran). The Republic of Korea was selected as the host country for the 5th APMCHUD in 2014 during the 4th APMCHUD, which was held in December 2012, Amman, the Hashemite Kingdom of Jordan.
 
23. Which of the following is a most likely consequence of implementing the ‘Unified Payments Interface (UPI)’?

(a) Mobile wallets will not be necessary for online payments.
(b) Digital currency will totally replace the physical currency in about two decades.
(c) FDI inflows will drastically increase.
(d) Direct transfer of subsidies to poor people will become very effective.

Ans. (a)



UPI would Replace Many Digital Wallets.  Digital wallet has eased the online payments. The mobile recharge, rail tickets, online shopping has become very smooth because of the digital wallets. But the number of such wallets are increasing. Paytm, Freecharge, Flipkart and IRCTC, Everyone want you to keep the digital wallet. So it become hassle to maintain more than one wallet.


The UPI would end this hassle as well. The payment through the UPI is as easy as payment through the wallets. But a single app is enough to pay anywhere. Also, the UPI does not ask money in advance. Rather, your money remains in the bank account and keeps earning the interest. Digital wallets don’t give any interest.

24. ‘Recognition of Prior Learning Scheme’ is sometimes mentioned in the news with reference to

(a) Certifying the skills acquired by construction workers through traditional channels.
(b) Enrolling the persons in Universities for distance learning programmes.
(c) Reserving some skilled jobs to rural and urban poor in some public sector undertakings.
(d) Certifying the skills acquired by trainees under the National Skill Development Programme.
Ans. (a)
Across construction sites dotting five states — Haryana, Telangana, Odisha, Chhattisgarh and Delhi — a novel scheme is underway to certify the skills acquired by workers in the unorganised sectors through traditional, non-formal learning channels.
Depending on the progress of the Recognition of Prior Learning (RPL) scheme, which has been kicked-off with a focus on construction sites employing more that 200 workers across these five states, the Ministry of Labour & Employment and the Ministry of Skill Development are hoping to expand the programme to other states and enlarge its scope to include sectors other than construction.
 
25. Which of the following gives ‘Global Gender Gap Index’ ranking to the countries of the world?
(a) World Economic Forum
(b) UN Human Rights Council
(c) UN Women
(d) World Health Organization
Ans. (a)
The annual Global Gender Gap index compiled by Geneva-based World Economic Forum. 

26. 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 :
(a) 1 only
(b) 1 and 2 only
(c) 3 only
(d) 2 and 3 only
Ans. (a)
The Monetary Policy Committee has been entrusted with the task of fixing the benchmark policy rate (repo rate) required to contain inflation within the specified target level.
As per the provisions of the RBI Act, out of the six Members of Monetary Policy Committee, three Members will be from the RBI and the other three Members of MPC will be appointed by the Central Government.
 The Governor of the RBI is the Chairperson, ex officio.

27. The term ‘Digital Single Market Strategy’ seen in the news refers to

(a) ASEAN
(b) BRICS
(c) EU
(d) G20
Ans. (c)
The European Commission’s Digital Single Market strategy aims to open up digital opportunities for people and business and enhance Europe's position as a world leader in the digital economy. The European Commission is the executive of the European Union and promotes its general interest.

28. With reference to the ‘Prohibition of Benami Property Transactions Act, 1988 (PBPT Act)’, consider the following statements:
1. A property transaction is not treated as a benami transaction if the owner of the property is not aware of the transaction.
2. Properties held benami are liable for confiscation by the Government.
3. The Act provides for three authorities for investigations but does not provide for any appellate mechanism.
Which of the statements .given above is/are correct?
(a) 1 only
(b) 2 only
(c) 1 and 3 only
(d) 2 and 3 only
Ans. (b)
The Act defines a benami transaction as a transaction where a property is held by or transferred to a person, but has been provided for or paid by another person.  The Bill amends this definition to add other transactions which qualify as benami, such as property transactions where: (i) the transaction is made in a fictitious name, (ii) the owner is not aware or denies knowledge of the ownership of the property, or (iii) the person providing the consideration for the property is not traceable.
Based on an order to confiscate the benami property, the Administrator will receive and manage the property in a manner and subject to conditions as prescribed. 
The Bill also seeks to establish an Appellate Tribunal to hear appeals against any orders passed by the Adjudicating Authority.  Appeals against orders of the Appellate Tribunal will lie to the high court.
 
29. Which of the following are the objectives of ‘National Nutrition Mission’?
1. To create awareness relating to malnutrition among pregnant women and lactating mothers.
2. To reduce the incidence of anaemia among young children, adolescent girls and women.
3. To promote the consumption of millets, coarse cereals and unpolished rice.
4. To promote the consumption of poultry eggs.
Select the correct answer using the code given below:

(a) 1 and 2 only
(b) 1, 2 and 3 only
(c) 1, 2 and 4 only
(d) 3 and 4 only

Ans. (a)
 
The key objectives of the National Nutrition Mission are-
 - To create awareness relating to malnutrition amongst pregnant women, lactating mothers, promote healthy lactating practices and importance of balanced nutrition;
- To improve maternal and child under-nutrition in 200 high burdened districts and to prevent and reduce the under-nutrition prevalent among children below 3 years; 
- To reduce incidence of anaemia among young children, adolescent girls and women.
 

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