Economic and Social Development - 1

Only art objects are being brought within the purview of the capital assets. Literary books do not fall in this category.

Option (4) is the correct answer.

Option (2) is the correct answer.

Correct Answer: USA

The household sector contributes the most to Gross Domestic Savings in India, typically accounting for over 60-70% of total savings. This includes savings by households in the form of bank deposits, life insurance, provident funds, and other financial assets, reflecting the high savings propensity of Indian households.

Option (1) is the correct answer. 

The Planning Commission is an institution in the Government of India, which formulates India's Five Year Plans, among other functions.

The company was founded in 1956 when the Parliament of India passed the Life Insurance of India Act that nationalised the private insurance industry in India. Over 245 insurance companies and provident societies were merged to create the state owned Life Insurance Corporation.

Swabhimaan is a campaign of the Government of India which aims to bring banking services to large rural areas without banking services in the country. It was launched on February 10, 2011. This campaign is to be operated by the Ministry of Finance, Government of India and the Indian Banks' Association (IBA). An initiative which seeks better financial inclusion within India will strive for rolling out banking services in 20,000 villages without banking services with a population of 2000 by March 2012 so as to improve participation of rural folks in different plans launched by the government for them.

National income includes the contribution of three sectors of the economy:

 Ad valorem is a tax on price.

India has a well-developed tax structure with clearly demarcated authority between Central and State Governments and local bodies.
Central Government levies taxes on income (except tax on agricultural income, which the State Government can levy), customs duties, central excise and service tax.
Value Added Tax (VAT), stamp duty, state excise, land revenue and profession tax are levied by the State Governments.

Frictional unemployment occurs when workers are temporarily between jobs due to normal labor market turnover - people quitting, being fired, or entering/re-entering the workforce. It's caused by the time lag matching workers with jobs as demand, supply, and market conditions constantly change. Structural unemployment is from skill mismatches, disguised is hidden underemployment, and open unemployment is visible joblessness.

Statement 1 is correct: FDI or Foreign Direct Investment is an investment that a parent company makes in a foreign country. On the contrary, FII or Foreign Institutional Investor is an investment made by an investor in the market of a foreign nation.
Statement 2 is incorrect: In FII, the companies only need to get registered in the stock exchange to make investments. Foreign Institutional Investment is also known as hot money as the investors have the liberty to sell it and take it back. But in Foreign Direct Investment, this is not possible. In simple words, FII can enter the stock market easily and also withdraw from it easily.
Statement 3 is correct: Foreign Direct Investment only targets a specific enterprise. It aims to increase the enterprises capacity or productivity or change its management control. In an FDI, the capital inflow is translated into additional production. The FII investment flows only into the secondary market. It helps in increasing capital availability in general rather than enhancing the capital of a specific enterprise.

The Second Five Year Plan (1956-61) faced multiple crises that hampered growth: rising inflation due to increased money supply, the Suez Crisis (1956) which disrupted trade routes and increased oil prices, and rapid depletion of foreign exchange reserves from heavy imports of machinery and capital goods. The plan's ambitious industrialization targets required massive imports, draining forex reserves.

The Planning Commission was established on 15^th March, 1950.

Option C refers to State Finance Commissions which deal with Panchayats and Municipalities. The Central Finance Commission deals with Centre-State tax distribution, grants-in-aid principles, and presidential referrals - not state-local bodies.

Option (1) is the correct answer.

Sikkim and Goa do not have any regional rural bank.

Absorption of excess work force generation out of the burgeoning population is an impracticable and abstruse (preposterous) remedy.