Economics (Part – V)

Total Questions: 50

41. The Union Budget, 2020-21, increased deposit insurance coverage for bank deposits to per depositor. [S.S.C. Online MTS (T-I) 22.10.2021 (Shift-II)]

Correct Answer: (b) 5 lakh
Solution:The Union Budget, 2020-21, increased deposit in-surance coverage for bank deposits to 25 lakh per depositor. The biggest share of coverage is for RRBs at 84% while for foreign banks it is 9% of insured deposits. For cooperative banks it is 70%.

42. According to the Economic Survey of India 2020, in order to promote preventive healthcare, how many Ayushman Bharat Health and Wellness Centres are proposed by 2022? [S.S.C. Online MTS (T-I) 22.10.2021 (Shift-III)]

Correct Answer: (a) One and a half lakhs
Solution:According to the Economic Survey of India 2020, in order to promote preventive healthcare, One and a half lakhs Ayushman Bharat - Health and Wellness Centers are proposed by 2022.

43. As per Economic Survey 2020-2021, India's real GDP is estimated to grow by _________ in financial year 2021-22. [S.S.C. Online CGL (T-I) 13.04.2022 (Shift-I)]

Correct Answer: (c) 11%
Solution:According to the survey, India's real GDP is pro-jected to grow 11.0 percent in 2021-22 with nomi-nal GDP increasing by 15.4 percent. The Economic Survey 2020-21, dedicated to the COVID Warriors and prepared by the Department of Economic Affairs under the Chief Economic Advisor, provides data on India's Economy. It outlines a four pillar strategy of containment, fiscal, financial and long-term structur-al reforms centered around Saving Lives and Livelihoods.

44. As per Economic Survey of India 2020-21, India is expected to have a Current Account Surplus of _________ of GDP in FY21. [S.S.C. Online CGL (T-I) 18.04.2022 (Shift-III)]

Correct Answer: (c) 2%
Solution:India is expected to have a Current Account Surplus of 2 percent of GDP in FY21, a historic high after 17 years.

Note:- Robust domestic economic activity and an up-tick in oil import bills, India's current account defi-cit is expected to be 3-3.2 percent of gross domestic product (GDP) for FY23, according to Chief Eco-nomic Advisor (CEA) V Anantha Nageswaran.

45. According to the '2nd Advance Estimates of Horticulture Production 2019-20', published by the Department of Agriculture, Cooperation and Farmers Welfare in June 2020, the total horticulture production in 2019-20 is estimated to be about________ higher than 2018-19. [S.S.C. Online MTS (T-I) 20.10.2021 (Shift-II)]

Correct Answer: (b) 3%
Solution:

According to the '2nd Advance Estimates of Horticulture Production 2019-20', published by the Department of Agriculture, Cooperation and Farmers Welfare in June 2020, the total horticulture production in 2019-20 is estimated to be about 3% (3.13%) higher than 2018-19.

46. Which department of the Government of India declares the minimum support price? [S.S.C. Online MTS (T-I) 20.10.2021 (Shift-III)]

Correct Answer: (a) Department of Agriculture and Cooperation
Solution:The Agriculture and Cooperation Department of the Government of India announces the Minimum Support Prices on the recommendation of the Commission for Agricultural Costs and Prices.

47. The Cabinet Committee on Economic Affairs (CCEA) increased the Minimum Support Prices (MSPs) of cotton (long staple) to per quintal for marketing season 2020-21. [S.S.C. Online MTS (T-I) 14.10.2021 (Shift-I)]

Correct Answer: (d) 5,825
Solution:The Cabinet Committee on Economic Affairs (CCEA) increased the Minimum Support Prices (MSPs) of cotton (long staple) to 25825 per quintal for marketing season 2020-21.

48. The Economic Survey (of India) 2019-20 introduced the idea of " as a public good that get s enhanced with greater use." [S.S.C. Online MTS (T-I) 13.10.2021 (Shift-I)]

Correct Answer: (a) trust
Solution:The Economic Survey (of India) 2019-20 introduced the idea of "trust as a public good that gets enhanced with greater use."

49. As per the Union Budget 2021-22, Mission Poshan 2.0 is proposed to be launched to improve nutritional outcomes across aspirational districts. [S.S.C. Online CGL (T-I) 20.04.2022 (Shift-III)]

Correct Answer: (c) 112
Solution:Mission POSHAN 2.0 was launched by Finance Minister Nirmala Sitharaman in February 2021. It is an Integrated Nutrition Support Programme. It seeks to address the challenges of malnutrition in children, adolescent girls, pregnant women, and lactating mothers through a strategic shift in nutrition content and delivery and by the creation of a convergent eco-system to develop and promote practices that nurture health, wellness, and immunity.

50. A government budget is an annual financial statement that outlines estimated government expenditures and expected government receipts or revenues for the forthcoming fiscal year. Depending on the feasibility of these estimates which of the following is NOT the budget type? [S.S.C. Online CHSL (T-I) 19.04.2021 (Shift-II)]

Correct Answer: (b) Economy budget
Solution:Among the options, only an Economy budget is NOT a budget type. A government budget is an annual fi-nancial statement that outlines estimated government expenditures and expected government receipts or revenues for the forthcoming fiscal year.