Daily Quiz

Daily Quiz

Economy Prelims

Sample Papper

1 / 6

Consider the following statements regarding Soil Health Card:

  1. The recommendations provided to the farmers regarding soil nutrients & use of fertiliser under this scheme is binding in nature.
  2. Soil samples are collected thrice a year before the beginning of cropping seasons – Kharif, Rabi & Zaid.
  3. Soil samples are drawn in a grid of 2.5 ha in irrigated area and 10 ha in rain- fed area with the help of GPS tools and revenue maps.
  4. On the basis of the sample collected, the scheme enables bank to decide the amount of loan that can be provided to respective farmer.

2 / 6

Consider the following statements about International Monetary Fund (IMF):

  1. IMF decisions are taken by 85% voting majority and China has a veto over decisions.
  2. Voting power in IMF is decided by Quota and there is one vote per 100,000 Special Drawing Rights of quota plus basic votes.
  3. Only International Bank of Reconstruction and Development (IBRD) members are eligible for the membership of IMF.
  4. One of the major functions of the IMF is to promotion of the structural reforms in developing countries.

3 / 6

Consider the following statements with reference to sustainable agricultural practices:

  1. Crop rotation involves growing a different crop in the same field every year.
  2. Hydroponic agriculture is a type of indoor farming that uses soil as the growing medium.
  3. Conservation agriculture is a farming system that focuses on preserving the soil and its resources.
  4. Drip irrigation is a technique that delivers water directly to the roots of plants.

4 / 6

Consider the following statements with reference to agriculture research in India:

  1. The Indian Council of Agricultural Research (ICAR) is the main body responsible for agricultural research in India.
  2. The National Agricultural Research System (NARS) is a network of research institutes and organizations dedicated to agricultural research and development in India.
  3. The Agricultural Scientists Recruitment Board (ASRB) is responsible for conducting competitive exams for the recruitment of agricultural scientists in India.
  4. The National Seed Corporation of India (NSC) is the main government body responsible for the production and distribution of certified seeds in India.

5 / 6

Consider the following statements with reference to sustainable agriculture practices:

1. Contour ploughing is a method of ploughing along the contour lines of a field to reduce soil erosion.

2. Green manuring involves adding crops that are grown specifically for their nutrient content to the soil.

3. Vertical farming is a method of growing crops in vertically stacked layers is a eco-friendly method.

4. No-till farming is a method of planting crops without disturbing the soil.

5. Organic farming is a method of growing crops using synthetic chemicals and fertilizers.

Convertibility refers to the ability to convert domestic currency into foreign currencies and vice versa to make payments for balance of payments transactions.
Current account convertibility is the ability or freedom to convert domestic currency for current account transactions while capital account convertibility is the ability or freedom to convert domestic currency for capital account transactions. The Tarapore Committee (2006), for instance, defined capital account convertibility as the “freedom to convert local financial assets into foreign financial assets and vice versa.”

6 / 6

Which of the following statements is/are correct regarding the Capital Account Convertibility ?

1.  Capital account convertibility refers to the freedom to convert local financial assets into foreign financial assets and vice versa.

2.  Indians receiving and sending remittances is possible because of partial capital account convertibility in India.

3. NRIs can invest in specified government securities without any restrictions under partial capital account convertibility in India.

Introducing the Fully Accessible Route (FAR) — through which NRIs can invest in specified government securities without any restrictions. Statement 3 is correct.

Easing of the external commercial borrowing framework by relaxing end-user restrictions

Allowing Inward FDI in most sectors

Allowing outbound FDI by Indian incorporated entities as a multiple of their net worth

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