Indian Economy Test 43

Result

Indian Economy Test 43

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Weekly Quiz Competition

Question 1
1 / -0

The Green Revolution in India has contributed to

A
inter-regional inequality

B
inter-class inequality

C
inter-crop inequality

D
All of the above

Solution

The Green Revolution in India has contributed to inter-regional, inter-class and inter-crop inequality as certain regions like UP and Pu njab which used HYVs performed much better than others and become more advanced than other states
Question 2
1 / -0

Which one of the following agencies assigns the Agricultural Income Tax to states in India?

A
Inter-State Council

B
National Development Council

C
Agricultural Finance Corporation

D
Finance Commission

Solution

Agricultural income tax to states in India is assigned by the Constitution of India. The agency responsible for it is Finance Commission whose function is distribution of net proceeds of taxes between Centre and the States, to be divided as per their respective contributions to the taxes.
Question 3
1 / -0

Consider the following statements
1. Agricultural commodities are the major products that have a large share of the commodities traded in the commodity futures market.
2. The commodity futures market facilitates the price discovery process and provides a platform for price risk management in commodities.
Which of the statements given above is/are correct?

A
Only 1

B
Only 2

C
Both 1 and 2

D
Neither 1 nor 2
Question 4
1 / -0

Which one of the following is the main objective of the Farm Income Insurance Scheme?

A
To provide income protection to the farmers by insuring production

B
To provide income protection to the farmers by insuring market risks

C
To provide income protection to the farmers by providing the insured seeds to farmers

D
Both 'a' and 'b'
Question 5
1 / -0

Consider the following statements
1. NABARD inherited all the apex roles from Reserve Bank of India.
2. NABARD gives long-term loans to State governments to enable them to subscribe to the share of cooperative credit societies.
Which of the statements given above is/are correct?

A
Only 1

B
Only 2

C
Both 1 and 2

D
Neither 1 nor 2
Question 6
1 / -0

Consider the following statements
India continues to be dependent on imports to meet the requirement of oil seeds in the country because.
1. farmers prefer to grow foodgrains with high remunerative support prices.
2. most of the cultivation of oil crops continued to be dependent on rainfall.
3. oil from the seeds of free-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
1,2 and 3

B
1 and 2

C
2 and 3

D
2 and 4
Question 7
1 / -0

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
Only 1

B
Only 2

C
Both 1 and 2

D
Neither 1 nor 2
Question 8
1 / -0

Consider the following statements
1. Regional Rural Banks grant direct loans and advances to marginal farmers and rural artisans.
2. NABARD is responsible for laying down policies and to oversee the operations of the RRBs.
Which of the statements given above is/are correct?

A
Only 1

B
Only 2

C
Both 1 and 2

D
Neither 1 nor 2

Solution

National Bank for Agriculture and Rural Development(NABARD) is an apex development bank in India. It was established on 12 July, 1982 in sixth five year plan and its main focus was to uplift rural India by increasing the credit flow for elevation of agriculture and rural non-farm sector for elevation of agriculture and rural non-farm sector and laying down policies and to oversee the operations of the RRBs. Moreover Regional Rural Banks grant direct loans and advances to marginal farmers and rural artisans. So both statements are correct.
Question 9
1 / -0

Consider the following statements about the Agriculture Income Tax
1. Agriculture Income Tax is levied and collected by the Union Government.
2. Agriculture Income Tax is levied throughout the country in India.
Which of the statements given above is/are correct?

A
Only 1

B
Only 2

C
Both 1 and 2

D
Neither 1 nor 2

Solution

Agricultural income tax is levied on the income from Agriculture. At present agriculture is subjected to - two direct taxes and they are Agricultural Income Tax and Land Tax. They are levied by the state governments. Not all states levy agricultural income tax.
Question 10
1 / -0

Consider the following statements
1. NABARD was established by the Act of Parliament to take over the role of Agricultural Refinance Development Corporation.
2. Rural Infrastructure Development Fund (RIDF) to extend loans to state government is managed by commercial banks.
Which of the statements given above is/are correct?

A
Only 1

B
Only 2

C
Both 1 and 2

D
Neither 1 nor 2

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Re-Attempt Weekly Quiz Competition

Indian Economy Test 43

Result

Indian Economy Test 43

Score

-

Rank

-

SHARING IS CARING

Question 1

inter-regional inequality

inter-class inequality

inter-crop inequality

All of the above

Solution

Question 2

Inter-State Council

National Development Council

Agricultural Finance Corporation

Finance Commission

Solution

Question 3

Only 1

Only 2

Both 1 and 2

Neither 1 nor 2

Question 4

To provide income protection to the farmers by insuring production

To provide income protection to the farmers by insuring market risks

To provide income protection to the farmers by providing the insured seeds to farmers

Both 'a' and 'b'

Question 5

Only 1

Only 2

Both 1 and 2

Neither 1 nor 2

Question 6

1,2 and 3

1 and 2

2 and 3

2 and 4

Question 7

Only 1

Only 2

Both 1 and 2

Neither 1 nor 2

Question 8

Only 1

Only 2

Both 1 and 2

Neither 1 nor 2

Solution

Question 9

Only 1

Only 2

Both 1 and 2

Neither 1 nor 2

Solution

Question 10

Only 1

Only 2

Both 1 and 2

Neither 1 nor 2

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Question Analysis

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