Economic and Social Development - 1

<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:#fffbfb;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">NABARD is <span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">a bank. It is the national bank for agriculture and rural development. NABARD is set up as an apex Development Bank with a mandate for facilitating credit flow for promotion and development of agriculture, small-scale industries, cottage and village industries, handicrafts and other rural crafts. 

<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:#fffbfb;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">As per the Budget Estimates 2010-11, fiscal deficit as a percentage of GDP was 5.5%. <span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:#fafcff;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">The fiscal deficit was estimated at Rs. 3.81 Lakh Crores which is 5.5% of GDP of Rs. 69.35 Lakhs Crores estimated by CSP at 2010-11 prices at that time according to the budget estimates.

Kutir Jyoti scheme is associated with providing electricity to rural families living below the poverty line.

<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:#fffbfb;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">The new share Price Index (in dollar value) of Mumbai Share Market is Dolex. Dolex primarily serves the Hispanic community-based United States and is in this business since July 1996 and provides customers with low fees, payment to the beneficiary immediately, with the key moment of your receipt and works with banks and paying more competitive for the customer to pay less, and your family gets more.  

<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:#fffbfb;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">The basis of determining dearness allowance to employees in India is <span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">Consumer Price Index. A consumer price index (CPI) measures changes in the price level of consumer goods and services purchased by households. 

<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:#fffbfb;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">The Headquarters of Asian Development Bank (ADB) are at <span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">Manila. The Asian Development Bank (ADB), based in Manila, Philippines, is dedicated to reducing poverty in Asia and the Pacific through loans and grants.  

<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">Rekhi Committee — Simplification of Export and Import is incorrect. This statement is incorrect because Rekhi Committee represents the structure of indirect taxation and not the simplification of import or export.

<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:#fffbfb;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">Narsimham committee was related to <span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">Banking Structure Reforms. Narsimham Committee I was formed in 1991 and the Narsimham Committee II were reformed in 1998 and are related to banking sector reforms. It recommended reduction in CRR, increase rate in CRR balances, redefining the private sector and many more. 

<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:#fffbfb;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">The Headquarters of World Bank are situated at <span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">Washington D.C. The World Bank's official goal is the reduction of poverty. According to the World Bank's Articles of Agreement as amended effective 16 February 1989, all of its decisions must be guided by a commitment to promote foreign investment, international trade, and facilitate capital investment. 

<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:white;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">I<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:#fffbfb;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">ndian Planning Commission was constituted in 1950. <span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:white;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">After India gained independence, a formal model of planning was adopted, and the planning commission, reporting directly to the Prime Minister of India was established. Accordingly, the Planning Commission was set up on 15 March 1950, with Prime Minister Jawaharlal Nehru as the chairman. Planning Commission though is a non statutory as well extra constitutional body, i.e. has been brought by an executive order. 

<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:#fffbfb;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">The nationalisation of the major commercial banks took place in 1969. <span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">The nationalisation of banks in India took place in 1969 by Mrs. Indira Gandhi the then prime minister. It nationalised 14 banks then. These banks were mostly owned by businessmen and even managed by them.  

<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:#fffbfb;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">Nirmal Gram Puraskar is associated with <span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">Total Sanitation Campaign. NGP stands for Nirmal Gram Puraskar. To add vigour to the Total Sanitation Campaign (TSC), in June 2003, GoI initiated an incentive scheme for fully sanitized and open defecation free Gram Panchayats, Blocks, and Districts called the Nirmal Gram Puraskar. The incentive pattern is based on population criteria and it varies from Rs.50, 000 to Rs.50 lakh. 

<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:#fffbfb;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">“Operation Flood” programme was introduced in 1970. <span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:white;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa;mso-bidi-font-style:italic="">Operation Flood<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:white;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa=""> <span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:white;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">was a rural development programme started by India's National Dairy Development Board (NDDB) in 1970. One of the largest of its kind, the programme objective was to create a nationwide milk grid.

<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:#fffbfb;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">ICRA, CRISIL and CARE all are <span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa;mso-bidi-font-weight:bold="">credit rating agencies in India. All of these are credit rating agencies sponsored by all India Financial Institutions, Banks and have tie ups with many international agencies.  

<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:#fffbfb;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">Agriculture growth rate in year 2010-11 stood at 5.3%. <span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">India's annual agriculture growth rate slumped in the January-March quarter to a nine-year low of 5.3 percent as the manufacturing sector contracted and a fall in the rupee to a record low suggests the economy remains under pressure in the current quarter. 

<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:#fffbfb;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">'SAPTA' is related to trade. <span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:white;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">In December 1991, the Sixth Summit held in Colombo approved the establishment of an Inter-Governmental Group (IGG) to formulate an agreement to establish a SAARC Preferential Trading Arrangement (SAPTA) by 1997. 

<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:#fffbfb;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">Tax-GDP ratio in 2010-11 was 9.4%. <span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">The latest estimates for FBR tax collections as percentage of GDP suggest an increase from 9.1% in 2008-9 to 9.4% in 2009-10. In 2010-11 budgets MoF said FBR collection will increase from 9.4 % to 9.8 % GDP. The gross Tax/ GDP ratio was 10.6%.

<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">I<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:#fffbfb;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">ndia export Gold to Bank of England U.K. in 1991 in order <span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">t<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">o meet foreign exchange crisis. By 1967, India had started having balance of payments problems. By the end of 1990, it was in a serious economic crisis. The government was close to default, its central bank had refused new credit and foreign exchange reserves had reduced to such a point that India could barely finance three weeks' worth of imports. India had to airlift its gold reserves to pledge it with International Monetary Fund (IMF) for a loan. 

<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">UTI-II is working as Mutual Fund under SEBI rules. UTI-II was brought under SEBI rules and regulations while UTI-I was brought under direct government control since its schemes offered guaranteed returns. 

<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:#fffbfb;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">SJSRY belongs to urban areas. SJSRY is <span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa;font-weight:normal;mso-bidi-font-weight:bold="">SWARAN JAYANTI SHAHRI ROJGAR YOJNA. <span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">The key objective of the scheme was to provide gainful employment to the urban unemployed or underemployed through the setting up of self-employment ventures. 

<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:#fffbfb;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">Crude oil production in India during 2009-10 has been estimated at <span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">37·98 million tones. The domestic crude oil production during 2009-10 has increased by 7 per cent over the last year and a guess is made that it is about 37.98 million tones. 

<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:#fffbfb;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">CRISIL <span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">evaluates the credit documents of a company. CRISIL IS A GLOBAL ANALYTICAL COMPANY PROVIDING RATINGS, RESEARCH, AND RISK AND POLICY ADVISORY SERVICES. It is a credit rating agency in India which checks the credit documents of a company. 

<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:#fffbfb;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">On the recommendations of Kelkar Committee, no new RRB (Regional Rural Bank) has been established since <span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">April 1987. RRB's are working in all states of the country except of Sikkim and Goa. At present 196 RRBs are working in the country. Since April1987, no new RRB has been opened according to the Kelkar Committee. 

<span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";background:#fffbfb;mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">Government covered all districts of the country in National Rural Employment Guarantee Programme (NREGP), w.e.f. <span style="font-size:10.0pt;line-height:115%;font-family:Arial;mso-fareast-font-family:"Times" new="" roman";mso-ansi-language:en-us;mso-fareast-language:en-us;mso-bidi-language:ar-sa="">March 31, 2008. National Rural Employment Guarantee Programme aims at enhancing the livelihood security of people in rural areas by guaranteeing hundred days of wage-employment in a financial year to a rural household whose adult members volunteer to do unskilled manual work.