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UPSC Essentials brings to you its initiative of subject-wise quizzes. These quizzes are designed that will help you revise among the most necessary matters from the static a part of the syllabus. Every day, we are going to cowl one new topic. Try immediately’s topic quiz on Financial system to test your progress. Come again tomorrow to unravel the MCQs on Worldwide Relations. Don’t miss checking the solutions and explanations on the finish of the quiz.
Close to the Pradhan Mantri Fasal Bima Yojana (PMFBY), take into account the next statements:
1. The scheme was launched within the yr 2016.
2. The scheme is obligatory for loanee farmers, who possess a crop mortgage account/Kisan Credit score Card (KCC) account.
3. All of the state governments are paying farmers’ premiums, and offering insurance coverage at no cost.
How most of the statements given above are appropriate?
(a) Just one
(b) Solely two
(c) All three
(d) None
QUESTION 2
Close to the wool manufacturing in India, take into account the next statements:
1. Wool manufacturing within the yr 2022-23 has decreased as in comparison with earlier yr.
2. Jammu & Kashmir is the most important producer of wool.
Which of the assertion(s) given above is/are appropriate?
(a) 1 solely
(b) 2 solely
(c) Each 1 and a pair of
(d) Neither 1 nor 2
QUESTION 3
Contemplate the next pairs close to the worth deficiency funds (PDP):
(Scheme) | (State) |
1. Bhavantar Bharpai Yojana | Madhya Pradesh |
2. Bhavantar Bhugtan Yojana | Haryana |
Which of the pair(s) given above is/are accurately matched?
(a) 1 solely
(b) 2 solely
(c) Each 1 and a pair of
(d) Neither 1 nor 2
QUESTION 4
Close to the Monetary Inclusion Index, take into account the next statements:
1. The FI-Index has been constructed with none base yr.
2. The Reserve Financial institution of India launches the Index.
3. The index is printed biannually.
How most of the statements given above are appropriate?
(a) Just one
(b) Solely two
(c) All three
(d) None
QUESTION 5
Close to the Windfall Tax, take into account the next statements:
1. It’s levied within the type of Cess beneath the central excise division.
2. The windfall tax on petrol and aviation turbine gasoline (ATF) is most.
3. It’s revised each month based mostly on world crude oil costs.
How most of the statements given above are appropriate?
(a) Just one
(b) Solely two
(c) All three
(d) None
ANSWERS TO THE MCQs
1. (a)
FYI:
— The insured gross cropped area of non-loanee farmers under Pradhan Mantri Fasal Bima Yojana (PMFBY) has reached a brand new excessive, indicating rising acceptance of the Centre’s crop insurance coverage scheme.
— The proportion of non-loanee space within the whole insured space beneath the PMFBY have been hovering round 24 per cent over the last 5 years — 23.93 per cent in 2021-22, 24.52 per cent in 2020-21, 22.38 per cent in 2019-20, and 24.3 per cent in 2018-19.
— The federal government launched the PMFBY from kharif 2016. In 2020, the federal government revamped the scheme’s operational tips, and the revised tips got here into impact from kharif 2020. Therefore, assertion 1 is appropriate.
— Initially, the scheme was obligatory for loanee farmers, who possess a crop mortgage account/Kisan Credit score Card (KCC) account to whom credit score restrict is sanctioned/renewed for the notified crop in the course of the crop season. Nonetheless, from Kharif 2020, it was made voluntarily. Therefore, assertion 2 shouldn’t be appropriate.
— Beneath the PMFBY, farmers should pay premium on the price of two per cent of sum insured or actuarial price whichever is much less for kharif meals and oilseeds crops (all cereals, millets, and oilseeds, pulses), 1.5 per cent for rabi meals and oilseeds crops (all cereals, millets, and oilseeds, pulses), and 5 per cent for kharif and rabi annual business/annual horticultural crops.
— In a number of states, together with Assam, Andhra Pradesh, Odisha, Maharashtra, and Tripura, the state governments are paying farmers’ premiums, offering insurance coverage at no cost. Therefore, assertion 3 shouldn’t be appropriate.
Subsequently, choice (a) is the right reply.
2. (d)
FYI:
— Wool manufacturing has elevated by 2.12% in 2022-23 as in comparison with earlier yr. Therefore, assertion 1 shouldn’t be appropriate.
— The highest 5 wool-producing states are Rajasthan (47.98%), Jammu and Kashmir (22.55%), Gujarat (6.01%), Maharashtra (4.73%), and Himachal Pradesh (4.27%). Therefore, assertion 2 shouldn’t be appropriate.
— Ewes contribute 72.17% of whole wool output, whereas Ram/Wether and Lamb contribute solely 13.92% and 13.91%, respectively, of whole wool manufacturing throughout the nation.
Subsequently, choice (d) is the right reply.
(Supply: dahd.nic.in)
3. (d)
FYI:
— The price deficiency payments (PDP) entails the federal government not bodily buying or stocking any crop, and easily paying farmers the distinction between the market value and MSP, if the previous is decrease.
— PDP was tried out first in Madhya Pradesh by means of a Bhavantar Bhugtan Yojana. Therefore, assertion 1 shouldn’t be appropriate.
— Beneath this association, the market value for a crop was decided by the common modal (most-quoted) price in Madhya Pradesh’s Agricultural Produce Market Committee (APMC) mandis, in addition to two different agricultural states, in the course of the promoting month.
— The value distinction vis-à-vis the MSP was payable on the precise amount bought by the farmer, backed by an “anubandh patra” (sale settlement with dealer), “tol parchi” (weighment slip), and “bhugtan patra” (cost letter signed by each events).
— Haryana’s PDP scheme, known as Bhavantar Bharpai Yojana (BBY), is being carried out primarily in bajra (pearl millet), mustard, and sunflower seed, though technically can also be covers groundnut, chana (chickpea), moong, and 16 vegetable and three fruit crops. Therefore, assertion 2 shouldn’t be appropriate.
Subsequently, choice (d) is the right reply.
4. (b)
FYI:
— The Reserve Financial institution of India has launched a composite Monetary Inclusion Index (FI-Index) to seize the extent of monetary inclusion throughout the nation. Therefore, assertion 2 is appropriate.
— The FI-Index has been conceptualised as a complete index incorporating particulars of banking, investments, insurance coverage, postal in addition to the pension sector in session with the Authorities and respective sectoral regulators.
— The index captures info on varied elements of monetary inclusion in a single worth ranging between 0 and 100, the place 0 represents full monetary exclusion and 100 signifies full monetary inclusion.
— The FI-Index includes of three broad parameters viz., Entry (35%), Utilization (45%), and High quality (20%) with every of those consisting of varied dimensions, that are computed based mostly on plenty of indicators.
— The Index is attentive to ease of entry, availability and utilization of companies, and high quality of companies, comprising in all 97 indicators.
— A novel function of the Index is the High quality parameter which captures the standard side of monetary inclusion as mirrored by monetary literacy, client safety, and inequalities and deficiencies in companies.
— The FI-Index has been constructed with none ‘base yr’ and as such it displays the cumulative efforts of all stakeholders over time in direction of monetary inclusion. Therefore, assertion 1 is appropriate.
— The FI-Index will likely be printed yearly in July yearly. The annual FI-Index for the interval ending March 2021 is 53.9 as in opposition to 43.4 for the interval ending March 2017. Therefore, assertion 3 shouldn’t be appropriate.
Subsequently, choice (b) is the right reply.
(Supply: rbi.org.in)
5. (a)
FYI:
— The Centre reimposed the windfall tax on domestically produced crude oil revising it to Rs 6,400 per tonne whereas additionally scrapping the export responsibility on diesel.
— That is the nineteenth revision of the windfall tax, which was first imposed on July 1, 2022, attributable to a surge in world crude costs attributable to the continuing Russia-Ukraine warfare.
— The windfall tax on petrol and aviation turbine gasoline (ATF) continues to be zero. Therefore, assertion 2 shouldn’t be appropriate.
— The windfall tax is levied within the type of cess beneath the central excise division. Therefore, assertion 1 is appropriate.
— It’s revised each fortnight based mostly on world crude oil costs. Therefore, assertion 3 shouldn’t be appropriate.
— The federal government began levying windfall good points to tax super-normal income of oil producers and gasoline exporters. It had mandated that firms promote the equal of fifty per cent of their gasoline exports and 30 per cent of their diesel exports domestically within the present fiscal yr.
Subsequently, choice (a) is the right reply.
Earlier Each day Topic-Sensible-Quiz
Daily subject-wise quiz — Polity and Governance (Week 45)
Daily Subject-wise quiz — History, Culture, and Social Issues (Week 45)
Daily subject-wise quiz — Environment, Geography, Science and Technology (Week 45)
Daily subject-wise quiz — Economy (Week 44)
Daily subject-wise quiz – International Relations (Week 44)
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