The concept of mixed economy envisages
Answer: B
It envisages the coexistence of the public and private sectors.
The state owns and runs part of the economy, chiefly the commanding heights, while private enterprise operates in the rest, and the two are coordinated by planning. India adopted the model in the Industrial Policy Resolutions of 1948 and 1956.
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The two rounds of bank nationalisation, in 1969 and 1980, brought the total number of nationalised banks in India to
Answer: D
The total came to twenty.
Fourteen banks were nationalised in July 1969 and six more in April 1980. One of the twenty, New Bank of India, was merged into Punjab National Bank in 1993, and successive mergers since 2017 have reduced the number of public sector banks to twelve.
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First Regional Rural Bank came into existence in,
Answer: C
The first regional rural banks came into existence in 1975.
Five were set up on 2 October 1975 following an ordinance, the earliest being Prathama Bank at Moradabad. The Regional Rural Banks Act followed in 1976.
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Subsidies mean
Answer: D
Subsidies are payments by government to business enterprises without any corresponding purchase of goods or services.
They are transfer payments, made to hold the price of a product below cost or to support a producer. In national income accounting, market prices minus indirect taxes plus subsidies gives factor cost.
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Dunkel proposal is related to
Answer: A
The Dunkel proposals concern patent rights.
Arthur Dunkel, Director-General of GATT, presented his draft in 1991 to conclude the Uruguay Round. Its most contested part in India was TRIPS, which required product patents on pharmaceuticals and agricultural chemicals - a change India made only in 2005.
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National Sample Survey Organisation (NSSO) was established in?
Answer: A
The NSSO was established in 1950.
Set up on P.C. Mahalanobis's initiative, it conducts nationwide household surveys on consumption, employment and unemployment, and other socio-economic subjects. It was merged into the National Statistical Office in 2019.
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Redistribution polices geared to reduce economic inequalities include
Answer: D
All of these are redistributive.
Progressive taxation takes proportionately more from higher incomes; land reform redistributes the chief productive asset in a rural economy; and rural development programmes direct public spending towards the poorest. Each attacks inequality from a different side.
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Who gave the call for Evergreen Revolution?
Answer: A
M.S. Swaminathan called for an Evergreen Revolution.
He meant raising productivity without ecological harm - the green revolution's gains had come with falling water tables, soil degradation and heavy chemical use. His prescription was integrated pest management, conservation farming and crop diversification.
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Consider the following statements : VDIS I. means Voluntary Disclosure of Income Scheme II. was introduced in 1997 III. helped the tax evaders to declare undisclosed income of over Rs.33,000 crores. IV. helped the Government to get a tax of more than Rs.10,050 crores. Of the statements:
Answer: D
All four statements are correct.
The Voluntary Disclosure of Income Scheme of 1997 let tax evaders declare hidden income at the current rate without penalty or prosecution. About Rs 33,000 crore was declared and roughly Rs 10,050 crore collected. The Supreme Court accepted the government's undertaking that no such scheme would be introduced again.
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Imperial Bank of India was old name of ?
Answer: A
It was the old name of the State Bank of India.
The Imperial Bank was formed in 1921 by amalgamating the presidency banks of Bengal, Bombay and Madras. It was nationalised and renamed the State Bank of India on 1 July 1955, on the recommendation of the All-India Rural Credit Survey.
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