Answer laterQuestion : Which institution has launched the project E-Shakti for the digitisation of all members of self-help groups in India?
Option 1: Small Industries Development Bank of India
Option 2: The Securities and Exchange Board of India
Option 3: Industrial Finance Corporation of India
Option 4: National Bank for Agriculture and Rural Development
Correct Answer: National Bank for Agriculture and Rural Development
Solution : The correct answer is the National Bank for Agriculture and Rural Development.
Through their pilot project, e-Shakti, the National Bank for Agriculture and Rural Development (NABARD) pioneered the digitization of self-help groups (SHGs) in India. This initiative began with the goal of addressing specific challenges, such as the quality of SHG bookkeeping, and assisting banks in making informed lending choices about the groups.
Question : Statement 1: Water pollution in India is a significant environmental issue, resulting from various sources such as industrial effluents, sewage, and agricultural runoff.
Statement 2: Contamination of water bodies can lead to the spread of waterborne diseases, ecological damage, and a shortage of safe drinking water.
Option 1: Both statement 1 and statement 2 are true, and statement 2 is the correct explanation of statement 1 .
Option 2: Both statement 1 and statement 2 are true, but statement 2 is not the correct explanation of statement 1 .
Option 3: Statement 1 is true, but statement 2 is false.
Option 4: Statement 1 is false, but statement 2 is true.
Correct Answer: Both statement 1 and statement 2 are true, and statement 2 is the correct explanation of statement 1 .
Solution : The correct answer is (A) Both statement 1 and statement 2 are true, and statement 2 is the correct explanation of statement 1.
Statement 1 is true: Water pollution is indeed a significant environmental issue in India, resulting from various sources such as industrial effluents, sewage, and agricultural runoff. These sources contribute to the contamination of water bodies, including rivers, lakes, and groundwater.
Statement 2 is the correct explanation of statement 1 . The contamination of water bodies due to pollution can have several negative consequences. It can lead to the spread of waterborne diseases, as polluted water becomes unsafe for human consumption. Additionally, water pollution can cause ecological damage, harming aquatic ecosystems and biodiversity. Moreover, it can contribute to a shortage of safe drinking water, as pollution reduces the availability of clean and potable water sources.
Therefore, both statements are true, and statement 2 provides the correct explanation for statement 1 .
Question : Which is the biggest tax-paying sector in India as of 2016?
Option 1: Agriculture sector
Option 2: Industrial sector
Option 3: Transport sector
Option 4: Banking sector
Correct Answer: Industrial sector
Solution : The correct answer is the Industrial sector.
There are three sectors: primary (the agriculture sector), secondary (the industrial sector) and tertiary (the transport sector). The industrial sector falls under the secondary sector. It is called so because this sector contributes the most to the tax payment structure. The film industry, information technology, etc. come under this category. This sector plays a major role in the development of India's GDP growth.
Question : Which among the following is the sole note-issuing authority in India?
Option 1: Industrial Finance Corporation of India
Option 2: National Payments Corporation of India
Option 3: Reserve Bank of India
Option 4: State Bank of India
Correct Answer: Reserve Bank of India
Solution : The correct answer is the Reserve Bank of India.
As per Section 22 of the Act, the Reserve Bank of India (RBI) has the exclusive authority to issue banknotes in India. Section 25 empowers the central government to approve the design, form and material of banknotes based on recommendations from the Central Board of the RBI.
Question : In India, which of the following regulatory mechanisms was not in existence to enforce regulation of the industrial sector?
Option 1: Industrial licensing under which every entrepreneur had to get permission from government officials to start a firm, close a firm or decide the amount of goods that could be produced.
Option 2: Controls on price fixation and distribution of selected industrial products.
Option 3: Private sector was allowed in all industries.
Option 4: Some goods could be produced only in small-scale industries.
Correct Answer: Private sector was allowed in all industries.
Solution : The correct answer is the Private sector was allowed in all industries.
All of the options are part of the regulatory mechanisms that are in existence to enforce regulation of the industrial sector, except the "private sector was allowed in all industries". The main regulatory mechanisms in existence to enforce regulation of the industrial sector are the industrial licencing norms and controls on price fixation and distribution of selected industrial products.
Question : What is a common form of resistance against globalization in India?
Option 1: Embracing Western cultural practices
Option 2: Promoting export-oriented industries
Option 3: Protests against land acquisition for industrial projects
Option 4: Advocating for complete economic isolation
Correct Answer: Protests against land acquisition for industrial projects
Solution : A common form of resistance against globalization in India is protests against land acquisition for industrial projects, which are often seen as a threat to local livelihoods and environments.
Question : Comprehension:
Read the passage carefully and answer the questions that follow.
India's favourable demographic trends, which have increased the workforce's percentage of the overall population, have paved the way for a significant middle-class expansion. A big population bulge emerging from absolute poverty and set to reach the middle class would generate new dynamics. In India, over 55 percent of the population is predicted to reach the middle class. In reality, because India's demographics are significantly younger than China and the United States, the country's middle class might be the world's largest (in terms of population) by 2025.
It is no exaggeration to argue that future growth will be reliant on the increasing middle class and that the middle class's development will be reliant on growth. Growth has been fuelled by both private consumption and saving, both of which are fuelled by the middle class. India's private consumption accounts for over 60% of the country's GDP, while private consumption growth has contributed to 70% of the country's growth since 2000.
Even though China's middle class is now greater than India's, private spending in the former accounts for a lesser share of growth. In contrast to the United States, where domestic savings are dropping and the country borrows excess funds from outside to invest and expand, India's domestic savings and investments are increasing and funding investments. The emergence of the middle class is anticipated to coincide with a transition away from large-scale informality, which now characterises much of the services and industrial sectors, and toward more formal, wage-earning, and medium-scale firms. Technological advancements will spread at a faster rate. Cities will expand as job possibilities concentrate on them. If there is enough movement across states and from rural to urban regions, the population increase will be more evenly distributed.
Question:
What is the tone of the passage?
Option 1: Critical
Option 2: Objective
Option 3: Subjective
Option 4: Didactic
Correct Answer: Objective
Solution : The correct option will be the second option.
The tone of the passage is predominantly objective.
The author presents information and analyses about India's demographic trends, the growth of the middle class, and its impact on the country's economy factually and neutrally. The passage does not exhibit strong emotional language or personal opinions, and it focuses on providing information and making observations based on the presented data.
Question : The management of traditional property resources is crucial for:
Option 1: Accelerating the privatization of communal lands
Option 2: Ensuring the preservation of cultural and ecological heritage
Option 3: Promoting industrial expansion in rural areas
Option 4: Reducing the participation of local communities in resource management
Correct Answer: Ensuring the preservation of cultural and ecological heritage
Solution : The management of traditional property resources is crucial for ensuring the preservation of cultural and ecological heritage, as these resources are integral to the identity and sustainability of local communities.
Question : Which committee recommended the establishment of the Industrial Finance Corporation of India (IFCI)?
Option 1: Hilton-Young Commission
Option 2: Tarlok Singh Committee
Option 3: V.K.R.V. Rao Committee
Option 4: Kaldor Committee
Correct Answer: Hilton-Young Commission
Solution : The correct answer is (a) Hilton-Young Commission.
The Hilton-Young Commission, officially known as the Royal Commission on Indian Currency and Finance, was formed in 1925 to review and recommend reforms for India's financial and monetary system. The commission, led by Lord Hilton-Young, submitted its report in 1926, which included recommendations for the establishment of specialized financial institutions to promote industrial development in India.
Based on the recommendations of the Hilton-Young Commission, the Industrial Finance Corporation of India (IFCI) was established in 1948. The IFCI was envisioned as a development finance institution aimed at providing long-term financial assistance to industrial projects in India.
