Q . ECONOMIC ASPECTS

Consider the following statements: Statement-I: India does not import apples from the United States of America. Statement-II: In India, the law prohibits the import of Genetically Modified food without the approval of the competent authority. Which one of the following is correct in respect of the above statements?

a) Both Statement-I and Statement-II are correct and Statement-II explains Statement-I
b) Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-I
c) Statement-I is correct, but Statement-II is incorrect
d) Statement-I is incorrect, but Statement-II is correct
Answer: d
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  • Statement I is incorrect: India does import apples from the United States, particularly from states like Washington.
  • Statement II is correct: In India, the import of Genetically Modified (GM) food is regulated, and such imports require approval from the competent authority.
  • Therefore, Statement I is incorrect, but Statement II is correct.
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Q . ECONOMIC ASPECTS

Consider the following statements: 1. The Government of India provides Minimum Support Price for niger (Guizotia abyssinica) seeds. 2. Niger is cultivated as a Kharif crop. 3. Some tribal people in India use niger seed oil for cooking. How many of the above statements are correct?

a) Only one
b) Only two
c) All three
d) None
Answer: c
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Q . ECONOMIC ASPECTS

Which of the following factors/policies were affecting the price of rice in India in the recent past? 1. Minimum Support Price 2. Government's trading 3. Government's stockpiling 4. Consumer subsidies Select the correct answer using the code given below:

a) 1, 2 and 4 only
b) 1, 3 and 4 only
c) 2 and 3 only
d) 1, 2, 3 and 4
Answer: d
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Q . ECONOMIC ASPECTS

Consider the following statements: 1. In the case of all cereals, pulses and oil-seeds, the procurement at Minimum Support Price (MSP) is unlimited in any State/UT of India. 2. In the case of cereals and pulses, the MSP is fixed in any State/UT at a level to which the market price will never rise. 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
Answer: d
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Q . ECONOMIC ASPECTS

Under the Kisan Credit Card scheme, short-term credit support is given to farmers for which of the following purposes? 1. Working capital for maintenance of farm assets, 2. Purchase of combine harvesters, tractors and mini trucks 3. Consumption requirements of farm households 4. Post-harvest expenses 5. Construction of family house and setting up of village cold storage facility Select the correct answer using the code given below:

a) 1, 2 and 5 only
b) 1, 3 and 4 only
c) 2, 3, 4 and 5 only
d) 1, 2, 3, 4 and 5
Answer: b
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Q . ECONOMIC ASPECTS

In India, which of the following can be considered as public investment in agriculture? 1. Fixing Minimum Support Price for agricultural produce of all crops 2. Computerization of Primary Agricultural Credit Societies 3. Social Capital development 4. Free electricity supply to farmers 5. Waiver of agricultural loans by the banking system 6. Setting up of cold storage facilities by the governments. Select the correct answer using the code given below:

a) 1, 2 and 5 only
b) 1, 3, 4 and 5 only
c) 2, 3 and 6 only
d) 1, 2, 3, 4, 5 and 6
Answer: c
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Q . ECONOMIC ASPECTS

Consider the following statements: 1. In terms of short-term credit delivery to the agriculture sector, District Central Cooperative Banks (DCCBs) deliver more credit in comparison to Scheduled Commercial Banks and Regional Rural Banks. 2. One of the most important functions of DCCBs is to provide funds to the Primary Agricultural Credit Societies. 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
Answer: b
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Q . ECONOMIC ASPECTS

The economic cost of food grains to the Food Corporation of India is Minimum Support Price and bonus (if any) paid to the farmers plus

a) transportation cost only
b) interest cost only
c) procurement incidentals and distribution cost
d) procurement incidentals and charges for godowns
Answer: c
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Q . ECONOMIC ASPECTS

Consider the following statements: 1. The quantity of imported edible oils is more than the domestic production of edible oils in the last five years. 2. The Government does not impose any customs duty on all the imported edible oils as special case. 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
Answer: a
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  •   Statement 2 is incorrect. Govt. imposes customs duty on import of edible oils to safeguard domestic oil industry.
  •   Statement 1 is correct. Demand of edible oil is higher than the domestic production, which is met by import of oils.
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Q . ECONOMIC ASPECTS

Consider the following: 1. Areca nut 2. Barley 3. Coffee 4. Finger millet 5. Groundnut 6. Sesamum 7. Turmeric The Cabinet Committee on Economic Affairs, has announced the Minimum Support Price for which of the above?

a) 1, 2, 3 and 7 only
b) 2, 4, 5 and 6 only
c) 1, 3, 4, 5 and 6 only
d) 1, 2, 3, 4, 5, 6 and 7
Answer: b
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Q . ECONOMIC ASPECTS

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
Answer: c
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Q . ECONOMIC ASPECTS

The Fair and Remunerative Price (FRP) of sugarcane is approved by the

a) Cabinet Committee on Economic Affairs
b) Commission for Agricultural Costs and Prices
c) Directorate of Marketing and Inspection, Ministry of Agriculture
d) Agricultural Committee Produce Market
Answer: a
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Q . ECONOMIC ASPECTS

In the context of food and nutritional security of India, enhancing the ‘Seed Replacement Rates’ of various crops helps in achieving the food production targets of the future. But what is/are the constraint/ constraints in its wider/ greater implementation? 1. There is no National Seeds Policy in place. 2. There is no participation of private sector seed companies in the supply of quality seeds of vegetables and planting materials of horticultural crops. 3. There is a demand-supply gap regarding quality seeds in case of low value and high-volume crops. Select the correct answer using the code given below.

a) 1 and 2
b) 3 only
c) 2 and 3
d) None
Answer: b
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Q . ECONOMIC ASPECTS

In India, which of the following have the highest share in the disbursement of credit to agriculture and allied activities?

a) Commercial Banks
b) Cooperative Banks
c) Regional Rural Banks
d) Microfinance Institutions
Answer: a
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Q . ECONOMIC ASPECTS

India has experienced persistent and high food inflation in the recent past. What could be the reasons? 1. Due to a gradual switchover to the cultivation of commercial crops, the area under the cultivation of food grains has steadily decreased in the last five years by about 30%. 2. As a consequence of increasing incomes, the consumption patterns of the people have undergone a significant change. 3. The food supply chain has structural constraints. Which of the statements given above are correct?

a) 1 and 2 only
b) 2 and 3 only
c) 1 and 3 only
d) 1, 2 and 3
Answer: b
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Q . ECONOMIC ASPECTS

Consider the following statements: 1. The Union Government fixes the Statutory Minimum Price of sugarcane for each sugar season. 2. Sugar and sugarcane are essential commodities under the Essential Commodities Act. 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
Answer: a
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Q . ECONOMIC ASPECTS

Consider the following statements: 1. The Commission for Agricultural Costs and Prices recommends the Minimum Support Prices for 32 crops. 2. The Union Ministry of Consumer Affairs, Food and Public Distribution has launched the National Food Security Mission. 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
Answer: d
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Q . ECONOMIC ASPECTS

Which of the following pairs about India’s economic indicator and agricultural production (all in rounded figures) are correctly matched? 1. GDP per capita (current prices): Rs 37,000 2. Rice: 180 million tons 3. Wheat: 75 million tons Select the correct answer using the code given below: Codes:

a) 1, 2 and 3
b) 1 and 2 only
c) 2 and 3 only
d) 1 and 3 only
Answer: d
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Q . ECONOMIC ASPECTS

Consider the following statements: 1. Regarding the procurement of food grains, Government of India follows a procurement target rather than an open-ended procurement policy. 2. Government of India announces minimum support prices only for cereals. 3. For distribution under Targeted Public Distribution System (TPDS), wheat and rice are issued by the Government of India at uniform Central issue prices to the States/Union Territories. Which of the statements given above is/are correct?

a) 1 and 2
b) 2 only
c) 1 and 3
d) 3 only
Answer: d
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Q . ECONOMIC ASPECTS

A: India does not export natural rubber. R: About 97% of India’s demand for natural rubber is met from domestic production.

a) Both A and R are true, and R is the correct explanation of A.
b) Both A and R are true, but R is not the correct explanation of A.
c) A is true but R is false.
d) A is false but R is true.
Answer: d
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Q . ECONOMIC ASPECTS

Consider the following statements: India continues to be dependent on imports to meet the requirement of oilseeds in the country because 1. Farmers prefer to grow food grains with highly remunerative support prices. 2. Most of the cultivation of oilseed crops continues to be dependent on rainfall. 3. Oils from the seeds to tree origin and rice bran have remained unexploited. 4. It is far cheaper to import oilseeds than to cultivate the oilseed crops. Which of the statements given above are correct?

a) 1 and 2
b) 1, 2 and 3
c) 3 and 4
d) 1, 2, 3 and 4
Answer: b
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Q . ECONOMIC ASPECTS

The prices at which the government purchases food grains for maintaining the public distribution system and for building up buffer-stock is known as.

a) minimum support prices
b) procurement prices
c) issue prices
d) ceiling prices
Answer: b
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Q . ECONOMIC ASPECTS

National Agricultural Insurance Scheme replacing Comprehensive Crop Insurance Scheme was introduced in the year

a) 1997
b) 1998
c) 1999
d) 2000
Answer: c
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Q . ECONOMIC ASPECTS

The farmers are provided credit from a number of sources for their short and long-term needs. The main sources of credit to the farmers include

a) the Primary Agricultural Cooperative Societies, commercial banks, RRBs and private money lenders
b) the NABARD, RBI, commercial banks and private money lenders
c) the District Central Cooperative Banks (DCCBs), the lead banks, IRDP and JRY
d) the Large-Scale Multi-purpose Adivasis Programme, DCCB, IFFCO and commercial banks
Answer: a
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  •   PACs, RRBs, commercial banks and private lenders are the main sources of credit to farmers.
  •   Commercial banks have the largest share in credit disbursal followed by cooperative banks at second place. RRBs come third.
  •   All have been explained earlier.
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Q . ECONOMIC ASPECTS

In which one of the following crops international trade is low in the context of total produce?

a) Rice
b) Coffee
c) Rubber
d) Wheat
Answer: a
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Q . ECONOMIC ASPECTS

Among the reasons for disguised unemployment in rural areas is

a) Choice of a heavy industry model for economic development
b) Low levels of technological development in the country
c) Heavy pressure of population along with half-hearted implementation of agrarian reforms
d) High illiteracy rates
Answer: c
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Q . ECONOMIC ASPECTS

Stock-farming refers to.

a) Accent on agricultural production to build a buffer stock.
b) Cooperative farming.
c) Farming concentrating on the rearing of cattles and sheep.
d) Large scale capital-intensive commercial farming.
Answer: c
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Q . ECONOMIC ASPECTS

Consider the following commodities: 1. Tea 2. Cotton cloth 3. Cereals 4. Edible oils 5. Sugarcane Among these, whose per capita availability has remained more or less static between 1980-81 and 1987-88 in India?

a) 1, 2 and 3
b) 1, 2, 3 and 4
c) 1, 4 and 5
d) 2, 3, 4 and 5
Answer: d
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  •   Cotton cloth, Cereals, Edible oils, and Sugarcane are the commodities whose per capita availability has remained more or less static in India.
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Q . ECONOMIC ASPECTS

Largest allocation in the Seventh Five-Year Plan has been given to

a) Agriculture
b) Transport
c) Education
d) Energy
Answer: a
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Q . ECONOMIC ASPECTS

Wealth tax on agricultural property is levied by

a) Central Government
b) State Government
c) Both the Central and State Governments
d) None of the above
Answer: a
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Q . ECONOMIC ASPECTS

India earns maximum foreign exchange by the export of which of the following commodities?

a) Iron
b) Tea
c) Jute
d) Sugar
Answer: b
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  •   The industry in which India earns its maximum foreign exchange is Iron industry.
  •   The value of iron metal traded from India added up to almost 186 billion rupees in the financial year 2020. This fare esteem was altogether higher than the past money related year's estimation of around 92 billion rupees.
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