Question Discussion & Solution

The correct answer is Neither 1 nor 2.

Key Points

• Agriculture is the backbone of the Indian economy.
• Over the years, there has been a continuous decline in the share of the agriculture and allied activities sector to total GDP from around 52% in FY1951 to around 14% in FY2014.
• Agriculture is the main source of employment generation in India.
• It still provides more than 50% employment. In absolute terms, the working population engaged in the agriculture sector increased from 97.2 million to 234.1 million during 1950-2011.
• In India, the farming community uses the mixed crop-livestock farming system — cattle, goats, fowl are the widely held species.
• Livestock production provides increased stability in income, food security, transport, fuel, and nutrition for the family without disrupting other food-producing activities.
• The distribution of livestock in India:
  • Poultry accounts for the largest share with 58 per cent followed by cattle and buffaloes (24 per cent), goats and sheep (16 per cent), pigs (1 per cent).
  • Other animals which include camels, asses, horses, ponies, and mules are in the lowest rung. Hence, statement 1 is not correct.
• In the fisheries sector, presently, fish production from inland sources contributes about 64 per cent to the total value of fish production, and the balance of 36 per cent comes from the marine sector (sea and oceans).
• Today total fish production accounts for 0.8 per cent of the total GDP. In India, West Bengal, Andhra Pradesh, Kerala, Gujarat, Maharashtra, and Tamil Nadu are major fish-producing states. Hence, statement 2 is not correct.

The correct answer is Crude oil.

Important Points

• An import is a good or service bought in one country that was produced in another.
• Imports and exports are components of international trade.
• If the value of a country's imports exceeds the value of its exports, the country has a negative balance of trade (BOT), also known as a trade deficit.

Key Points

• India produces just 20% crude oil of its demand and rests 80% is imported from abroad.
• Crude oil and other related products account for around 22% total import of India.
• The second spot is obtained by the capital goods (machinery, base metal, transport equipment) which accounts for 19.2% of the total Indian imports.
• The third spot is obtained by the import of gems and jewellery (16.8 per cent of the total imports), the fourth and fifth spot is secured by the chemical & related products (12.7%), and electronic goods (11.4%) respectively.

The correct answer is 2017.

Key Points

• Madhya Pradesh Industrial Development Corporation Limited(MPIDC) is the Single Window Secretariat for Investment Promotion and Facilitation of the state.
• MPIDC has launched an Integrated New Venture Establishment Portal (INVEST), which is the Single Window Portal for the state. 
• INVEST Portal is being developed for monitoring of entire life cycle of investment projects, right from receipt of the ‘Intention to Invest’ to grounding and completion.
• INVEST is acting as a one-stop solution for any investor wanting to establish & operate a business in the state.
• Now investors would not be required to visit different state department portals, rather they can avail various services/approvals required for setting up their business through INVEST Portal.
• The portal ensures time-bound delivery of facilities and permissions through continuous review/monitoring.
• The development of INVEST Portal started in April 2017.
• Department of Industrial Policy and Investment Promotion, the Government of Madhya Pradesh is responsible for the all-around industrial development of the State.
• The department facilitates the establishment of industries to achieve employment generation and utilization of local resources.
• The department acts as a catalyst to modernize and strengthen industries of the State to make them globally competitive. 
• INVEST Portal, which is being developed by DIP&IP to works as an Investor lifecycle tool, will also cover MSME units

The correct answer is Minimum reserve system.

Key Points

India Currency System:

• In terms of section 22 of the reserve bank of india act, the RBI has been given the statutory function of notes issue on a monopoly basis.
• The note issue in india was originally based upon the " Proportional Reserve System ".
• When it becomes difficult to maintain the re-serve proportionately.
• It was replaced by " Minimum Reserve Systems ".

• According to the RBI amendment act of 1957, the bank should now maintain a minimum reserve of Rs.200 crore worth of gold coins.
• The gold bullion and foreign securities of which the value of gold coin and bullion should be not less than Rs.115 crore. 

The correct answer is Residential hostel.

• Under the Rajasthan Ambedkar DBT Voucher Yojana, Students will be provided facility of residential hostels.

Key Points

• Ambedkar DBT Voucher Scheme
  • Under this scheme, the state government will provide vouchers for residential facilities to the students studying in various reserved categories of colleges of Rajasthan to stay away from their homes in urban areas. 
  • Chief Minister Ashok Gehlot has approved the proposal to implement Ambedkar DBT Voucher Scheme for SC, ST, OBC, MBC, and EWS students.
  • Under the scheme, the beneficiary students will be given Rs. 7 thousand per month for the residential facility at the divisional headquarters and Rs. 5 thousand per month for other district headquarters.
  • Under this scheme, 5000 students will be provided vouchers on a merit basis for 10 months.
  • Only those students will be able to take advantage of Rajasthan Ambedkar DBT Voucher Yojana, who live in urban areas away from their homes to get an education.