UPSC Essentials | Daily subject-wise quiz : Economy MCQs on capital market intermediaries, Bharat-VISTAAR and more (Week 150)

3. BharatVistaar will be available 24 hours a day as a ‘digital agriculture expert’.

4. It is available in regional languages only.

How many of the statements given above are correct?

(a) Only one

(b) Only two

(c) Only three

(d) All four

Relevance: It tests awareness of emerging AI-based initiatives like Bharat-VISTAAR aimed at strengthening digital agriculture and farmer advisory systems. Such schemes are important in the context of agritech innovation, climate-resilient farming, and government-led digital interventions in rural India.

Explanation

— The Union Agriculture Minister launched the Bharat-VISTAAR (Virtually Integrated System to Access Agricultural Resources), an AI-powered multilingual tool designed to provide farmers with relevant information in Jaipur.

— Bharat-VISTAAR is an AI-powered multilingual tool that provides information to farmers in their native language through mobile or a simple phone call. The tool offers guidance on crop planning, agricultural practices, pests, weather forecasts, markets, scheme information, eligibility, applications, and grievances. It serves as a single “digital doorway” for farmers to access required information. Hence, statement 1 is correct and statement 2 is not correct.

— It is a Digital Public Infrastructure (DPI) initiative in agriculture that uses Artificial Intelligence (AI) to personalise advice by integrating information from trusted sources across the Centre, state government, and cooperative systems.

— Farmers can access Bharat-VISTAAR by dialling the dedicated telephone number 155261 and talking to the AI Assistant, named ‘Bharati’. They can also download a mobile app from the Google Play Store or access it through a web interface link, which functions similarly to the app. The link will be available on the websites of the Agriculture Ministry and in mobile apps such as PM KISAN and PMFBY, according to officials. Besides calling the telephone number, farmers can also have a conversation via chat.

— BharatVistaar will be available 24 hours a day as a ‘digital agriculture expert’. Hence, statement 3 is correct.

— According to officials, farmers can access information about 10 major central schemes after the launch of the AI tool. These schemes are: PM-KISAN, PM Fasal Bima Yojana (PMFBY), Soil Health Card (SHC), Modified Interest Subvention Scheme, Sub-Mission on Agricultural Mechanization, Per Drop More Crop, PM Krishi Sinchayee Yojana, PM Annadata Aay Sanrakshan Abhiyan, Agriculture Infrastructure Fund, and Kisan Credit Card.

— At launch, Bharat-VISTAAR’s chatbot will be available in two languages: English and Hindi. Similarly, the voice-based AI Assistant—Bharati—will initially be available in Hindi and English. Hence, statement 4 is not correct.

Therefore, option (b) is the correct answer.

QUESTION 2

Which of the following is/are capital market intermediaries?

1. Merchants

2. Bankers

3. Brokers

4. RBI

5. Custodians

6. Microfinance Institutions

Select the correct answer using the codes given below:

(a) 1, 2 and 4

(b) 2, 3, 4 and 6

(c) 2, 4, 5 and 6

(d) 1, 2, 3 and 5

Relevance: This question is relevant for UPSC Prelims as it tests conceptual clarity regarding the structure and functioning of India’s financial system. Such distinctions are frequently examined under the Economy syllabus, especially in questions related to financial institutions and market regulation.

Explanation

— The Reserve Bank of India (RBI) has tightened guidelines that govern lending activities of banks to capital market intermediaries (CMIs) such as brokers, mandating that “all credit facilities to CMIs shall be provided on a fully secured basis”. This means that for a bank to provide a Rs 100 loan to a broker, the broker must provide collateral equalling that amount to the bank.

— Capital market intermediaries are regulated entities—including brokers, merchant bankers, custodians, and depositories—that facilitate the issuance, trading, and settlement of securities.

Therefore, option (d) is the correct answer.

QUESTION 3

With reference to the India’s pharmaceutical sector, consider the following statements:

1. India’s pharmaceutical sector is the largest in the world.

2. India’s pharmaceutical exports do not include AYUSH and herbal products.

3. India is a global leader in BCG and measles vaccines.

Which of the statements given above is/are correct?

(a) 1 and 2 only

(b) 2 only

(c) 2 and 3 only

(d) 3 only

Relevance: The question tests clarity on India’s position in global pharmaceutical production, especially the distinction between value and volume leadership. Such questions are important in the context of vaccine diplomacy, health security, and export competitiveness.

Explanation

— Finance Minister Nirmala Sitharaman announced the Biopharma SHAKTI scheme as part of the Union Budget 2026, aiming to make India a global manufacturing hub for biopharma.

— India’s pharmaceutical exports include AYUSH and herbal products, surgicals, bulk drugs, drug intermediaries, drug formulations and biologicals. Hence, statement 2 is not correct.

— India’s pharmaceutical sector is the third-largest in the world, meeting about 20% of global demand for generic medicine (identical copies of biologicals), and exported to 191 countries in FY ‘25. Over 50 per cent of these exports are directed to highly regulated markets such as the US and Europe. Hence, statement 1 is not correct.

— India is a global leader in low-cost vaccine supply, supplying the majority of the world’s diphtheria, tetanus and pertussis (DPT), Bacillus Calmette-Guerin (BCG) and measles vaccines. Hence, statement 3 is correct.

— In FY25, the sector’s annual turnover reached ₹4.72 lakh crore, with exports growing at a CAGR of 7 per cent over the last decade (FY15 to FY 25).

Therefore, option (d) is the correct answer.

QUESTION 4

With reference to the National Pension Scheme (NPS), consider the following statements:

1. The Pension Fund Regulatory and Development Authority (PFRDA) regulates NPS.

2. All armed forces employees are covered under the NPS scheme.

3. NPS can be voluntarily adopted by the corporations for their employees.

4. It is available for individuals, between the age of 18 and 60 years.

How many of the statements given above are correct?

(a) Only one

(b) Only two

(c) Only three

(d) All four

Relevance: This topic is important for UPSC Prelims under Economy, particularly in questions related to pension reforms and financial sector regulation. Such questions also assess awareness of social security reforms and voluntary retirement savings mechanisms in India.

Explanation

— Pension Fund Regulatory and Development Authority (PFRDA) Chairperson Sivasubramanian Ramann says that the states are free to offer the Old Pension Scheme (OPS) but they should not stop contribution under the National Pension Scheme (NPS). According to the data, OPS is unsustainable for any state government.

About NPS

— NPS was introduced by the Central Government to help the individuals have income in the form of pension to take care of their retirement needs.

— The Pension Fund Regulatory and Development Authority (PFRDA) regulates and administers NPS under the PFRDA Act, 2013. Hence, statement 1 is correct.

— All Central Government employees joining on or after January 1, 2004, are covered under the NPS scheme, except for those in the armed forces and are also extended to the employees of Central Autonomous Bodies from the said date. Hence, statement 2 is not correct.

— It is also available to all State Government employees/employees of State Autonomous Bodies, if the respective State/UT opted for it.

— NPS can be voluntarily adopted by the corporations for their employees and contributions are made to the NPS account as per the terms of employment. Hence, statement 3 is correct.

— NPS voluntary model is available to all the citizens of India including those residing abroad, between the age of 18 and 70 years. Hence, statement 4 is not correct.

Therefore, option (b) is the correct answer.

(Other Source: npstrust.org.in)

QUESTION 5

With reference to the aviation turbine fuel (ATF), consider the following statements:

1. ATF prices are market-determined based on international benchmarks.

2. India is focussing on the mandatory Sustainable Aviation Fuel (SAF) blending targets of 1% by 2027 and 2% by 2028.

Which of the statements given above is/are correct?

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2

Relevance: The question connects with India’s climate commitments and sustainable energy transition in sectors like aviation. Such questions test awareness of policy targets and market-linked pricing reforms in strategic sectors.

Explanation

— India’s consumption of refined petroleum fuels and products is expected to hit another fresh high in the upcoming financial year — 2026-27 (FY27) — on the back of steady growth in energy use across various sectors of the economy, as per latest government estimates.

— The consumption growth is expected to be led by fuels and products like petrol, aviation turbine fuel (ATF), liquefied petroleum gas (LPG), diesel, and naphtha. India’s petroleum consumption has been rising to reach a new high with each passing year, with the exception of two years when demand was hit because of the COVID pandemic.

— ATF prices are market-determined based on international benchmarks (MOPAG). Hence, statement 1 is correct.

— Since 2001, the government of India has regulated aviation turbine fuel (ATF) through market-determined pricing, with important policies focusing on decarbonisation, such as mandatory Sustainable Aviation Fuel (SAF) blending objectives of 1% by 2027, 2% by 2028, and 5% by 2030 for international flights. Hence, statement 2 is correct.

Therefore, option (c) is the correct answer.

(Other Source: http://www.pib.gov.in)

Previous Daily Subject-Wise-Quiz

Daily Subject-wise quiz — History, Culture, and Social Issues (Week 145)

Daily subject-wise quiz — Polity and Governance (Week 150)

Daily subject-wise quiz —  Science and Technology (Week 150)

Daily subject-wise quiz — Economy (Week 149)

Daily subject-wise quiz — Environment and Geography (Week 149)

Daily subject-wise quiz – International Relations (Week 149)

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