UPSC Essentials | Daily subject-wise quiz : Economy MCQs on Time-of-day (ToD) tariff, AIF, E-soil and more (Week 59)

1. The fund is used to provide loans, at concessional rates, to FPOs and other entrepreneurs.

2. The initiative is steered by NABARD in association with the Ministry of Agriculture and Farmers Welfare.

3. The Scheme will be operational from 2020-21 to 2032-33.

How many of the statements given above are correct?

(a) Only one

(b) Only two

(c) All three

(d) None

QUESTION 2

Which of the following states has launched a flagship campaign called “Ginger Mission” to promote the indigenous variety “Sying Makhir”?

(a) Assam

(b) Odisha

(c) Rajasthan

(d) Meghalaya

QUESTION 3

With reference to the lightweight payment and settlements system, consider the following statements:

1. They are dependent on complex wired networks backed by advanced IT infrastructure.

2. It can be operated from anywhere by a bare minimum staff.

3. The infrastructure for this system will be dependent on the existing systems of payments such as UPI, NEFT, and RTGS.

How many of the statements given above are correct?

(a) Only one

(b) Only two

(c) All three

(d) None

QUESTION 4

Consider the following statements about Time-of-day (ToD) tariff norms:

1. Under the ToD tariff system, the power tariff during solar hours shall be at least 20 per cent higher than the normal tariff.

2. ToD tariff would be applicable for Commercial and Industrial consumers having a maximum demand of 10 KW and above.

3. Tariffs during non-solar hours will be relatively higher as compared to solar hours.

How many of the statements given above are correct?

(a) Only one

(b) Only two

(c) All three

(d) None

QUESTION 5

With reference to the electronic soil (E-soil), consider the following statements:

1. It is made of cellulose mixed with a conductive polymer called PEDOT.

2. It can be used to grow seedlings faster with fewer resources.

3. It has very high energy consumption.

4. Barley seedlings cannot be grown in this type of soil.

How many of the statements given above are correct?

(a) Only one

(b) Only two

(c) Only three

(d) All four

ANSWERS TO THE MCQs

1. (c)

FYI:

— The Agriculture Infrastructure Fund (AIF) will be used to establish post-harvest storage and processing facilities, which will primarily benefit Farmer Producer Organisations (FPOs) but can also be used by individual entrepreneurs.

— The fund will also be utilised to give concessional loans to FPOs and other enterprises via primary agriculture credit societies (PACs). Hence, statement 1 is correct.

— NABARD will lead this programme in collaboration with the Ministry of Agriculture and Farmers’ Welfare. Hence, statement 2 is correct.

— As a result, in the budget announcement made on February 1, 2021, it was decided to expand the scheme’s benefits to APMCs.

— The Scheme will operate from 2020-21 to 2032-33. Loan disbursements under the initiative will be completed in six years. Hence, statement 3 is correct.

Therefore, option (c) is the correct answer.

(Other Source: agriinfra.dac.gov.in)

2. (d)

FYI:

— Meghalaya Chief Minister Conrad K. Sangma launched the flagship scheme “Ginger Mission” at the Integrated Agriculture Training Centre in Shillong, in the presence of Agriculture Minister Banteidor Lyngdoh.

— The mission intends to double the State’s ginger production to at least 1.5 lakh MT per year in the next three years, up from its existing production of around 60,000 MT per year.

— The government has developed a specific road plan to double farmers’ earnings through the Ginger Mission and other key farmer projects.

— This plan will also promote the indigenous variety “Sying Makhir”, which is extremely medicinal.

Therefore, option (d) is the correct answer.

(Source: http://www.meghalaya.gov.in)

3. (a)

FYI:

— The Reserve Bank of India (RBI) has conceptualised a lightweight payment and settlements system, which it is calling a “bunker” equivalent of digital payments, which can be operated from anywhere by a bare minimum staff in exigencies such as natural calamities or war. Hence, statement 2 is correct.

— The infrastructure for this system will be independent of the technologies that underlie the existing systems of payments such as UPI, NEFT, and RTGS. Hence, statement 3 is not correct.

— The lightweight and portable payment system is expected to operate on minimalistic hardware and software, and would be made active only on a “need basis”.

— Such a lightweight and portable payment system could ensure near-zero downtime of the country’s payment and settlement systems while also keeping the economy’s liquidity pipeline alive and intact by facilitating the uninterrupted operation of essential payment services such as bulk payments, interbank payments, and cash provision to participant institutions.

— The system is expected to conduct transactions vital to the economy’s stability, such as government and market-related activities.

— According to the RBI, existing traditional payment systems such as RTGS, NEFT, and UPI are intended to manage enormous quantities of transactions while maintaining continuous availability. As a result, they rely on complicated wired networks supported by powerful IT infrastructure. Hence, statement 1 is not correct.

Therefore, option (a) is the correct answer.

4. (b)

FYI:

— The Centre has signalled a move towards rolling out differential time-based electricity tariffs, which would entail discounted prices during an eight-hour period during daytime and premium or surge pricing during the peak power consumption hours.

— Under the ToD tariff system, the power tariff during “solar hours” — the duration of eight hours a day as specified by the respective State Electricity Regulatory Commission (SERC) — of the day shall be at least 20 per cent lower than the normal tariff. Hence, statement 1 is not correct.

— Tariffs during peak hours will be at least 20% more than the standard tariff for commercial and industrial consumers, and at least 10% higher for other consumers.

— ToD tariffs would apply to commercial and industrial consumers with a maximum demand of 10 KW or more beginning April 1, 2024, and to all other consumers except agricultural consumers by April 1, 2025. Hence, statement 2 is correct.

— For consumers who have smart metres, the time of day tariff will take effect immediately upon installation.

— During non-solar hours, predominantly thermal, hydroelectric, and gas-based power is used, which is more expensive than solar power. As a result, prices during non-solar hours will be significantly higher, reflecting the greater cost of electricity. Hence, statement 3 is correct.

Therefore, option (b) is the correct answer.

5. (b)

FYI:

— A newly created eSoil that encouraged root systems helped barley seedlings grow on average of 50% faster in a new research. The low-power bioelectronic scaffolding is suitable for soilless growing methods such as hydroponics. Hence, statement 4 is not correct.

— The electrically conductive growing substrate designed for hydroponic cultivation, known as eSoil.

— Hydroponics is the process of growing plants without soil, utilising a water-based nutrition solution, an aggregate substrate, or growing medium such as coconut coir or perlite. It uses closed systems that recirculate water to ensure that each seedling receives the nutrients it requires. This implies that very little water is required, and all nutrients are retained inside the system.

— eSoil is made of cellulose, a biopolymer mixed with a conductive polymer called PEDOT. Hence, statement 1 is correct.

— The advantage of eSoil is that it has very low energy consumption and not high-voltage danger. Hence, statement 3 is not correct.

— eSoil can be used to grow seedlings faster with fewer resources. Hence, statement 2 is correct.

— eSoil can address the problem of food security, they assert that it can help in areas with little arable land and harsh environmental conditions.

Therefore, option (b) is the correct answer.

Previous Daily Subject-Wise-Quiz

Daily subject-wise quiz — Polity and Governance (Week 59)

Daily Subject-wise quiz — History, Culture, and Social Issues (Week 59)

Daily subject-wise quiz — Environment, Geography, Science and Technology (Week 59)

Daily subject-wise quiz — Economy (Week 58)

Daily subject-wise quiz – International Relations (Week 58)

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