BANKING AND FINANCE QUIZ -13

Consider the following statements regarding green revolution:

1. Green revolution refers to the large increase in production of food grains resulting from the use of high yielding variety (HYV) seeds especially for wheat and rice.
2. The use of HYV seeds did not require much water, pesticides and fertilizers.
3. In the first phase Green revolution was confined only to the areas of eastern UP and Bihar.

Which of the statements given above is/are incorrect?

Consider the following condition:

1. Government fixes the price of agricultural goods above the market clearing price
2. Government reduces export
3. Government buys up protection-surpluses

How will the market react:

Which of the following statements is/are correct regarding Price Stabilization Fund Scheme?

1. The fund is constituted for the purpose of containing extreme volatility in prices of select agricultural commodities.
2. Under the scheme the central government provides loans to states at very low interest rates.
3. The fund currently provides support for the prices of onion and potato only.

Assertion (A): Agricultural Productivity is very low in India.

Reason (R): There is a high rate of growth of population in India.

Select the correct answer from the codes given below:

Codes:

Assertion (A): PL-480 grants was used to import food grains.

Reason (R): PL-480 grants facility was granted by Japan.

Codes:

Match List I with list II about WTO

            List I                                               List II

1. Blue Box A. Minimum disruption of trade balance.
2. Amber Box B. Subsidies that limit production.
3. Green Box C. Distort trade balance because they encourage production. 

Select the correct answer using the code given below.

Consider the statements related to the Regional Rural Banks (RBIS) given below:

1. They were conceived as institutions that combine local feel and familiarity with the rural problems. which the cooperatives possess.
2. They were conceived on the line of a business organisation with the ability to mobilise deposits, like a commercial bank.
3. Originally they were intended to provide institutional credit to the weaker section of the society called 'target groups.

Select the incorrect statements:

The components of National Mission on Sustainable Agriculture (NMSA) are...?

1. Development of climate resilient agriculture
2. Soil Health Management
3. On Farm Water Management
4. Rainfed Area Development

Which of the following statement/s is/are correct regarding minimum support price (MSP):

1. It is computed on the basis of the recommendations of Commission for Agricultural Costs and Prices (CACP).
2. MSP for a crop is kept at least 50% more than weighted average cost of production.
3. MSP for food grains is always kept higher than the market price of the grains.

In the context of Agricultural Development Act, 2001 the trickle-down theory has been interpreted to suggest that:

(1) Growth in agriculture output without radical institutional reforms will reduce the incidence of poverty.

(2) Growth in Agriculture output with radical institutional reforms will reduced the incidence of poverty.

(3) Only radical institutional reforms can reduce the incidence of poverty.

(4) Only growth in agriculture output will reduce the incidence of poverty.

Assertion (A): The working of Regional Rural Banks (RRBS) revealed that they eroded their capital base.

Reason (R): Many RRBs are non-viable and having high operating costs.

Of the above two statements, give the correct answer from the given codes:

Codes:

Why do we need a Second Green Revolution in India?

1. Productivity in agriculture is stagnating
2. Diversification of agriculture has not progressed much.

III. Exports of agricultural commodities have declined

Select the correct answer from the codes given below:

Which of the following risk is covered by PM Fasal Bima Yojna:

(1) yield losses

(b) prevented sowing losses

(c) post-harvest losses

(d) localized calamities

(5) war and nuclear risk

Because of the adoption of new economic policy, growth of Indian agriculture has been slowed down which results in:

1. low increase in crop yield
2. low or no public investment
3. stagnant green revolution technology
4. low retail market prices of agricultural produce

Answer this question by selecting the correct combination of codes given below:

Codes:

Which of the following statements is/are correct?

1. The Model APMC Act, 2003 provides that farmers may sell their produce directly in the market set up by private individuals.
2. The Model APMC Act, 2003 removes the compulsion on the farmers to sell their produce through existing markets administered by APMC.
3. The Model APMC Act, 2003 aims to promote contract farming.

Why does the share of agriculture in developing economies decline when national economy is growing rapidly?

1. Food becomes inferior commodity
2. Growth of agriculture cannot be very fast.

III. Industrial sector grows faster.

1. Public spending on the farm factor reduces.

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