Static Quiz 28 February 2024 (Economy)
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Static Quiz 28 February 2024 (Economy)
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- Question 1 of 5
1. Question
Who among the following are members of New Development Bank?
1) United Arab Emirates
2) Russia
3) Egypt
4) China
Which of the above statements is/are correct?CorrectThe Agreement to establish the New Development Bank was signed in 2014 which became effective from 2015 (headquartered in Shanghai). The NDB is a multilateral development bank established by Brazil, Russia, India, China and South Africa with the objective of financing infrastructure and sustainable development projects in BRICS and other emerging economies and developing countries, complementing the efforts of multilateral and regional financial institutions toward global growth and development.
In September 2021, Bangladesh, the United Arab Emirates and Uruguay joined the NDB.
In December 2021, the NDB admitted Egypt as new member.
IncorrectThe Agreement to establish the New Development Bank was signed in 2014 which became effective from 2015 (headquartered in Shanghai). The NDB is a multilateral development bank established by Brazil, Russia, India, China and South Africa with the objective of financing infrastructure and sustainable development projects in BRICS and other emerging economies and developing countries, complementing the efforts of multilateral and regional financial institutions toward global growth and development.
In September 2021, Bangladesh, the United Arab Emirates and Uruguay joined the NDB.
In December 2021, the NDB admitted Egypt as new member.
- Question 2 of 5
2. Question
With reference to the four pillars Zero Budget Natural Farming, the method that protects topsoil during cultivation and does not destroy it by tilling is called?
CorrectFour wheels of ZBNF to be implemented practically The “four wheels” of ZBNF are ‘Jiwamrita’, ‘Bijamrita’, ‘Mulching’ and ‘Waaphasa’, says Palekar, a Padma Shri awardee.
1. Jiwamritais a fermented mixture of cow dung and urine (of desi breeds), jaggery, pulses flour, water and soil from the farm bund. This isn’t a fertiliser, but just a source of some 500 crore micro-organisms that can convert all the necessary “non-available” nutrients into “available” form.
2. Bijamritais a mix of desi cow dung and urine, water, bund soil and lime that is used as a seed treatment solution prior to sowing.
3. Acchadana /Mulching, or covering the plants with a layer of dried straw or fallen leaves, is meant to conserve soil moisture and keep the temperature around the roots at 25-32 degrees Celsius, which allows the microorganisms to do their job.
4. Waaphasa, or providing water to maintain the required moisture-air balance, also achieves the same objective.IncorrectFour wheels of ZBNF to be implemented practically The “four wheels” of ZBNF are ‘Jiwamrita’, ‘Bijamrita’, ‘Mulching’ and ‘Waaphasa’, says Palekar, a Padma Shri awardee.
1. Jiwamritais a fermented mixture of cow dung and urine (of desi breeds), jaggery, pulses flour, water and soil from the farm bund. This isn’t a fertiliser, but just a source of some 500 crore micro-organisms that can convert all the necessary “non-available” nutrients into “available” form.
2. Bijamritais a mix of desi cow dung and urine, water, bund soil and lime that is used as a seed treatment solution prior to sowing.
3. Acchadana /Mulching, or covering the plants with a layer of dried straw or fallen leaves, is meant to conserve soil moisture and keep the temperature around the roots at 25-32 degrees Celsius, which allows the microorganisms to do their job.
4. Waaphasa, or providing water to maintain the required moisture-air balance, also achieves the same objective. - Question 3 of 5
3. Question
Consider the following statements about Directorate General of Trade Remedies (DGTR):
1) It works under the Ministry of Finance
2) The Department of Revenue considers the recommendations of DGTR for imposing Anti-Dumping, Countervailing and Safeguard Duties.
Which of the following statements is/are correct?CorrectEstablished in 1998 as the Directorate General of Anti-Dumping & Allied Duties, it was renamed in 2018 as the Directorate General of Trade Remedies (DGTR).
• The Directorate General of Anti-dumping and Allied Duties (DGAD), Directorate General of Safeguards (DGS) and Safeguards (QR) functions of DGFT were merged into one single entity, DGTR, making it an integrated single umbrella National Authority.
• DGTR works alongside the Department of Commerce under the Ministry of Commerce and Industry. Hence statement 1 is incorrect.
• The Department of Revenue considers the recommendations of DGTR for imposing Anti-Dumping, Countervailing and Safeguard Duties. Hence statement 2 is correct.
• Trade defence support would be provided by the DGTR to our domestic industries and the exporters in dealing with the trade remedy investigations instituted by other countries against them.IncorrectEstablished in 1998 as the Directorate General of Anti-Dumping & Allied Duties, it was renamed in 2018 as the Directorate General of Trade Remedies (DGTR).
• The Directorate General of Anti-dumping and Allied Duties (DGAD), Directorate General of Safeguards (DGS) and Safeguards (QR) functions of DGFT were merged into one single entity, DGTR, making it an integrated single umbrella National Authority.
• DGTR works alongside the Department of Commerce under the Ministry of Commerce and Industry. Hence statement 1 is incorrect.
• The Department of Revenue considers the recommendations of DGTR for imposing Anti-Dumping, Countervailing and Safeguard Duties. Hence statement 2 is correct.
• Trade defence support would be provided by the DGTR to our domestic industries and the exporters in dealing with the trade remedy investigations instituted by other countries against them. - Question 4 of 5
4. Question
With reference to MSME industries, which among the following statement is incorrect?
CorrectMSME industries have the advantage of labour intensiveness, low cost technology, low capital/investment, short gestation period and their strong forward and backward linkages with other sectors. The following are certain facts regarding MSMEs:
• MSMEs contribute 30% to India’s output/GDP
• MSMEs contribute 45% to manufacturing output/GDP
• MSMEs contribute 40% of to exports
• There are around 6.34 crore MSMEs (out of which 90% are informal) employing more than 11 crore workersHowever, the Government of India, supplements the efforts of the State Governments through various initiatives. The role of the Ministry of Micro, Small and Medium Enterprises and its organizations is to assist the States in their efforts to encourage entrepreneurship, employment and livelihood opportunities and enhance the competitiveness of MSMEs in the changed economic scenario.
CHAMPIONS: In May, 2020, the GoI launched CHAMPIONS online platform to help and handhold the MSMEs. ‘CHAMPIONS’ stands for Creation and Harmonious Application of Modern Processes for Increasing the Output and National Strength. It is an ICT based technology system aimed at making the smaller units big by solving their grievances, encouraging, supporting, helping and handholding them throughout the business lifecycle.
IncorrectMSME industries have the advantage of labour intensiveness, low cost technology, low capital/investment, short gestation period and their strong forward and backward linkages with other sectors. The following are certain facts regarding MSMEs:
• MSMEs contribute 30% to India’s output/GDP
• MSMEs contribute 45% to manufacturing output/GDP
• MSMEs contribute 40% of to exports
• There are around 6.34 crore MSMEs (out of which 90% are informal) employing more than 11 crore workersHowever, the Government of India, supplements the efforts of the State Governments through various initiatives. The role of the Ministry of Micro, Small and Medium Enterprises and its organizations is to assist the States in their efforts to encourage entrepreneurship, employment and livelihood opportunities and enhance the competitiveness of MSMEs in the changed economic scenario.
CHAMPIONS: In May, 2020, the GoI launched CHAMPIONS online platform to help and handhold the MSMEs. ‘CHAMPIONS’ stands for Creation and Harmonious Application of Modern Processes for Increasing the Output and National Strength. It is an ICT based technology system aimed at making the smaller units big by solving their grievances, encouraging, supporting, helping and handholding them throughout the business lifecycle.
- Question 5 of 5
5. Question
Which among the following statement is incorrect about SENSEX?
CorrectSensex
• Sensex, otherwise known as the S&P BSE Sensex index, is the benchmark index of the Bombay Stock Exchange (BSE) in India.
• It comprises 30 of the largest and most actively-traded stocks on the BSE, providing an accurate gauge of India’s economy. The index’s composition is reviewed in June and December each year.
• Initially compiled in 1986, the Sensex is the oldest stock index in India.IncorrectSensex
• Sensex, otherwise known as the S&P BSE Sensex index, is the benchmark index of the Bombay Stock Exchange (BSE) in India.
• It comprises 30 of the largest and most actively-traded stocks on the BSE, providing an accurate gauge of India’s economy. The index’s composition is reviewed in June and December each year.
• Initially compiled in 1986, the Sensex is the oldest stock index in India.
