1. The period of 12th Five Year Plan was ?

2012-2017

2007-2012

2002-2007

1997-2002

Answer: 2012-2017

Explanation:

The period of 12th Five Year Plan was 2012-2017.


2. Which of the following is the base year of a new WPI series effective from April 2017 ?

2010-11

2013-14

2012-13

2011-12

Answer: 2011-12

Explanation:

Wholesale Price Index measures the changes in the prices of goods sold and traded in bulk by wholesale businesses to other businesses. 2011-12 is the base year of a new WPI series effective from April 2017.


3. Atal Tinkering Labs is an initiative by which of the following institutions ?

National AYUSH Mission

Central Board of Secondary Education

Reserve Bank of India

Niti Aayog

Answer: Niti Aayog

Explanation:

Atal Tinkering Labs is the initiative of National Institution for Transforming India (NITI Aayog).The objective of this scheme is to foster curiosity, creativity, and imagination in young minds and inculcate skills such as design mindset, computational thinking, adaptive learning, physical computing etc.


4. The first Five-Year Plan’s main emphasis was to improve the condition of agriculture in India. The plan began in the year ?

1953

1952

1951

1949

Answer: 1951

Explanation:

The First Five Year plan began in 1951.


5. The fund into which the proceeds from disinvestment of Central Public Sector Enterprises are channelised is known as _____ ?

National Fund

National Infrastructure Fund

National Investment Fund

National Rural and Urban Fund

Answer: National Investment Fund

Explanation:

The fund into which the proceeds from disinvestment of Central Public Sector Enterprises are channelised is known as National Investment Fund.


6. Who maintains a Buffer Stock of Food grains in India ?

NAFED

FICCI

Ministry of Agriculture

FCI

Answer: FCI

Explanation:

FCI is a government body Works under the Food and Public distribution, Ministry of consumer Affairs. It's main work is to store the buffer stock of the food.


7. Which theory in economics proposes that countries export what they can most efficiently and plentifully produce ?

Solow-Swan Model

Heckscher-Ohlin Model

Input-Output Model

Cournot Competition

Answer: Heckscher-Ohlin Model

Explanation:

The Heckscher–Ohlin model (H–O model) states that countries export what they can most efficiently and plentifully produce.


8. Minimum Support Price (MSP) is recommended by ________ ?

The Commission for Weights and Measures

The Food Safety and Standards Authority of India

The Farmer's Welfare Society

The Commission for Agricultural Costs and Prices

Answer: The Commission for Agricultural Costs and Prices

Explanation:

MSP is recommended by the Commision for Agricultural Costs and Prices(CACP). Every year Cabinet Committee of Economic Affairs (CCEA) announce a minimum support price for various types of crops. MSP is the minimum.


9. Which panel set up by the Government of India suggested total decontrol of the sugar industry ?

RamSevak Panel

Rangarajan Panel

RadheShyam Panel

Sri Krishna Panel

Answer: Rangarajan Panel

Explanation:

The Rangarajan Panel was set up by the Government of India for total decontrol of the sugar industry in November 2012. In April 2013, the government announced partial decontrol of sugar.


10. The Minimum Support Price is declared by _____ ?

Finance Ministry

Ministry of Agriculture

The Cabinet committee of economic affairs

Chamber of Commerce

Answer: The Cabinet committee of economic affairs

Explanation:

The Cabinet Committee on Economic Affairs chaired by Prime Minister Shri Narendra Modi declares the MSP every year. The minimum support price (MSP) is an agricultural product price, set by the Government of India to purchase directly from the farmer.

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