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Indian Economy

621 questions asked in UPSC Prelims.

Consider the following statements with reference to Indira Gandhi National Old Age Pension Scheme (IGNOAPS): 1. All persons of 60 years or above belonging to the households below poverty line in rural areas are eligible. 2. The Central Assistance under this Scheme is at the rate of Rs 300 per month per beneficiary. Under the Scheme, States have been urged to give matching amounts. Which of the statements given above is/are correct?

  1. (a)1 only
  2. (b)2 only
  3. (c)Both 1 and 2
  4. (d)Neither 1 nor 2
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Official answer(d) Neither 1 nor 2

Assertion (A): ‘Balance of Payments’ represents a better picture of a country’s economic transactions with the rest of the world than the ‘Balance of Trade’. Reason (R): ‘Balance of Payments’ takes into account the exchanges of both visible and invisible items whereas ‘Balance of Trade’ does not.

  1. (a)Both A and R are true and R is the correct explanation of A
  2. (b)Both A and R are true but R is not a correct explanation of A
  3. (c)A is true but R is false
  4. (d)A is false but R is true
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Official answer(a) Both A and R are true and R is the correct explanation of A

Consider the following statements in respect of welfare schemes launched by the Ministry of Rural Development, Government of India: 1. Drinking water for rural areas is one of the components of the Bharat Nirman Plan. 2. In the National Rural Employment Guarantee Act, 2005 there is a provision that the statutory minimum wage applicable to agriculture workers in the State has to be paid to the workers under the Act. Which of the statements given above is/are correct?

  1. (a)1 only
  2. (b)2 only
  3. (c)Both 1 and 2
  4. (d)Neither 1 nor 2
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Official answer(c) Both 1 and 2