Tag: economics

Higher education institutions provide higher education. Department of Higher education under the Ministry of Human Resource Development oversees higher education in India. As per the news published in various newspapers, the government is planning to set up a regulatory body in the educational field, especially for higher education.

 Thus, the correct answer is A.

National Planning Commission formulates the National plan which is considered by the National Development Council. It’s most important functions include the formulation of effective plans for distribution of resources of the country. The Planning Commission of India has established a National Fund to improve the distribution of Electricity in the country.

Thus, the correct answer is A.

As we read these days, many world economies are passing through the recession at present. An economy is said to be in a recession when a decline occurs in almost all major economic activities.  Also, it is generally identified by a fall in GDP in two successive quarters.

Thus, the correct answer is A.

It is a national horticulture scheme and it was established and promoted as a part of the 10th five year plan (2002-2007). It plans to achieve its target if doubling horticulture production by 2012.

The Finance Commission of India was established by the President of India in the year 1951. The establishment took place under Article 280 of the country’s Constitution. This flattering commission decides the distribution of tax income between the Central and State Governments. Thus, it defines the financial relations between the Central and individual State Governments.

Thus, the correct answer is D.

Policies are measured implemented by the government to solve economic problems. In India, the government has implemented various measures such as National Rural Employment Guarantee Act, 2005, which is implemented to help solve the issue of rural unemployment. 

Financial inclusion can be referred to where the individuals and businesses find access to useful and affordable financial products and services. Also, these products and services meet their needs, are delivered in a responsible and sustainable manner. Financial inclusion is defined as the availability and equality provided to access financial services. Rangarajan Committee has given its recommendation on “Financial Inclusion.”

Thus, the correct answer is B.

The Planning Commission is an institution which is responsible to formulate Five Year Plans. This is a non-statutory and non-constitutional body. Moreover, it formulates plans with the aim to achieve social and economic development. Furthermore, It is responsible for supervising Five Year Plans too.

Thus, the correct answer is B.

The recommendations on “Financial Inclusion” was chaired by Rangarajan Committee. The recommendations included the launching of a National Rural Financial Inclusion Plan (NRFIP) in mission mode. Moreover, it included creating two funds with NABARD-  Financial Inclusion Promotion and Development Find (FIPF) and Financial Inclusion Technology Fund (FITF). However, there were four other recommendations too but didn’t include shifting of rural branches of all nationalised banks.

Thus, the correct answer is D.

The Union Budget of India is also referred to as the Annual Financial Statement. This is given such name under Article 112 of the Constitution of India. Also, it is the annual budget of the Republic of India. Moreover, Government presents it on the first day of February. Furthermore, this budget is drafted under the Ministry of Finance. The Administrative Ministries are only involved in the drafting of the Union Budget.

Thus, the correct answer is C.