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UPSC Essentials brings to you its subject-wise quizzes. UPSC Daily Subject Quiz will cover all topics under the UPSC Civil Services syllabus like Polity, History, Geography, Economics, Environment, Science and Technology, International Relations, and more. These quizzes are designed to help you revise some of the most important topics from the static part of the syllabus.
Each day, we will cover one new subject. Attempt today’s subject quiz on Economy to check your progress. Come back tomorrow to solve the MCQs on International Relations. Don’t miss checking the answers and explanations at the end of the quiz.
With reference to the Central Bank of Digital Currency (CBDC), consider the following statements:
1. It is similar to decentralised virtual currencies and crypto assets in terms of legal tender status.
2. It enables the user to conduct domestic and cross-border transactions that do not require a third party or a bank.
Which of the statement(s) given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
With reference to the Mission for Integrated Development of Horticulture (MIDH), consider the following statements:
1. It is a central-sector scheme for the holistic growth of the horticulture sector.
2. It does not include cash crops like cashew and cocoa.
Which of the statement(s) given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
With reference to the International Fund for Agricultural Development (IFAD), consider the following statements:
1. It is a specialized agency of the United Nations which was one of the major outcomes of the 1974 World Food Conference.
2. India and IFAD have signed an agreement for South-South and Triangular Cooperation (SSTC).
3. The fund provides financing primarily for projects and programmes specifically designed to introduce, expand or improve food production systems.
How many of the statements given above are correct?
(a) Only one
(b) Only two
(c) All three
(d) None
“Kaji Nemu” is a variety of lemon which has recently got a Geographical Indication (GI) tag. It belongs to
(a) Assam
(b) Manipur
(c) Sikkim
(d) Tripura
With reference to the Primary Agricultural Credit Societies (PACS), consider the following statements:
1. These are state-level cooperative credit societies that serve as the last link in a three-tier cooperative credit structure headed by the Commercial Banks.
2. These are involved in long-term lending.
Which of the statement(s) given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
FYI:
— According to the RBI, “CBDC is the legal tender issued by a central bank in a digital form.”
— It is the same as a fiat currency and is exchangeable one-to-one with the fiat currency.
— The digital fiat currency or CBDC can be transacted using wallets backed by blockchain. Though the concept of CBDCs was directly inspired by Bitcoin, it is different from decentralised virtual currencies and crypto assets, which are not issued by the state and lack the ‘legal tender status‘. Hence, statement 1 is not correct.
— CBDCs enable the user to conduct both domestic and cross-border transactions which do not require a third party or a bank. Hence, statement 2 is correct.
Therefore, option (b) is the correct answer.
FYI:
— Mission for Integrated Development of Horticulture (MIDH) is a Centrally Sponsored Scheme is being implemented w.e.f. 2014-15 for holistic growth of the horticulture. Hence, statement 1 is not correct.
— It covers fruits, vegetables, root and tuber crops, mushrooms, spices, flowers, aromatic plants, coconut, cashew, cocoa. Hence, statement 2 is not correct.
— All States including North Eastern States and UTs are covered under MIDH. The scheme has subsumed ongoing missions/schemes of the Ministry:
National Horticulture Mission (NHM)
Horticulture Mission for North East & Himalayan States (HMNEH)
National Horticulture Board (NHB)
Coconut Development Board (CDB)
Central Institute for Horticulture (CIH), Nagaland.
Therefore, option (d) is the correct answer.
(Source: http://www.midh.gov.in)
FYI:
— The International Fund for Agricultural Development (IFAD), a specialized agency of the United Nations, was one of the major outcomes of the 1974 World Food Conference. Hence, statement 1 is correct.
— The conference was organized by the United Nations in response to the food crises of the early 1970s, when global food shortages were causing widespread famine and malnutrition, primarily in the Sahelian countries of Africa.
— In 1977, three years after the Rome conference, IFAD was established as an international financial institution.
— The fund provides for financing primarily for projects and programmes specifically designed to introduce, expand or improve food production systems and to strengthen related policies and institutions. Hence, statement 3 is correct.
SSTC
— South-South and Triangular Cooperation (SSTC) was established in 2018 with the contribution of China. The China-IFAD SSTC Facility is IFAD’s first facility dedicated to SSTC. Hence, statement 2 is not correct.
— It is an integral part of IFAD’s work and helps achieve sustainable and inclusive rural transformation by building trust, forging partnerships, sharing knowledge, leveraging resources and scaling up proven solutions.
— It aims to mobilize knowledge, technologies and resources from the Global South to accelerate rural poverty alleviation, enhance rural productivity and advance sustainable rural transformation.
Therefore, option (b) is the correct answer.
(Source: http://www.ifad.org)
FYI:
— “Kaji nemu (Assam lemon)” has got a Geographical Indication (GI) tag. It produces fruits all around the year having two peak seasons in a year.
— It is different from other varieties of lemon in flavour, unique aroma and comparatively larger.
— The sour citrus fruit is widely used in culinary, beverages, industries and medicines.
Therefore, option (a) is the correct answer.
(Source: search.ipindia.gov.in)
FYI:
— The Union Budget has announced Rs 2,516 crore for computerisation of 63,000 Primary Agricultural Credit Societies (PACS) over the next five years, with the aim of bringing greater transparency and accountability in their operations and enabling them to diversify their business and undertake more activities.
— PACS are village-level cooperative credit societies that serve as the last link in a three-tier cooperative credit structure headed by the State Cooperative Banks (SCB) at the state level. Hence, statement 1 is not correct.
— Credit from the SCBs is transferred to the district central cooperative banks, or DCCBs, that operate at the district level. The DCCBs work with PACS, which deal directly with farmers.
— A village can have multiple PACS.
— PACS are involved in short-term lending — or what is known as crop loans. At the start of the cropping cycle, farmers avail credit to finance their requirement of seeds, fertilisers etc. Hence, statement 2 is not correct.
— The attraction of the PACS lies in the last-mile connectivity they offer. For farmers, timely access to capital is necessary at the start of their agricultural activities. It has the capacity to extend credit with minimal paperwork within a short time.
Therefore, option (d) is the correct answer.
UPSC CSE Mains 2023 season has begun. Are you ready for it? UPSC Essentials brings to you its new initiative for the practice of Mains answer writing. Mains Answer Writing will cover essential topics of static and dynamic parts of the UPSC Civil Services syllabus covered under various GS papers. This answer-writing practice is designed to help you as a value addition to your UPSC CSE Mains. Try it out!
UPSC Essentials: Mains answer practice — GS 1 (Week 1)
UPSC Essentials: Mains answer practice — GS 1 (Week 2)
UPSC Essentials: Mains answer practice — GS 1 (Week 3)
UPSC Essentials: Mains answer practice — GS 1 (Week 4)
UPSC Essentials: Mains answer practice — GS 1 (Week 5)
UPSC Essentials: Mains answer practice — GS 2 (Week 1)
UPSC Essentials: Mains answer practice — GS 2 (Week 2)
UPSC Essentials: Mains answer practice — GS 2 (Week 3)
UPSC Essentials: Mains answer practice — GS 2 (Week 5)
UPSC Essentials: Mains answer practice — GS 3 (Week 2)
UPSC Essentials: Mains answer practice — GS 3 (Week 3)
UPSC Essentials: Mains answer practice — GS 3 (Week 4)
UPSC Essentials: Mains answer practice — GS 3 (Week 5)
UPSC Essentials: Mains answer practice — GS 3 (Week 5)
UPSC Essentials: Mains answer practice — GS 3 (Week 5)
UPSC Essentials: Mains answer practice — GS 3 (Week 5)
UPSC Essentials: Mains answer practice — GS 3 (Week 5)
UPSC Essentials: Mains answer practice — GS 3 (Week 5)
UPSC Essentials: Mains answer practice — GS 3 (Week 6)
UPSC Essentials: Mains answer practice — GS 4 (Week 2)
UPSC Essentials: Mains answer practice — GS 4 (Week 3)
UPSC Essentials: Mains answer practice — GS 4 (Week 5)
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