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UPSC CSE: Indian Economy Test 4

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Question 1

Consider the following statements regarding the ‘Nutrient Based Subsidy’ (NBS) Scheme.

1) It is given for phosphatic and potassic fertilizers.

2) It is given for urea.

3) The prices of fertilizers under nutrient based scheme are regulated by the government.

4) Subsidy is based on per kg of nutrients present in the fertilizer.


Question 2

Consider the following statements regarding “Central Issue Price” (CIP).

1) It is the price at which food grains are issued to the state governments.

2) It is fixed by Food Corporation of India.

3) The present CIP for rice and wheat is Rs. 3/kg and Rs. 2/kg respectively.


Question 3

What is\are advantages of contract farming?

1) It makes small scale farming competitive.

2) Farming contracts provide complete legal protection in India.

3) It assures the farmer that all farm produce will be procured at Minimum Support Price (MSP) by government agencies.

4) It can open up new markets which would otherwise be unavailable to small farmers.


Question 4

Consider the following regarding zero-base budgeting.

1) Budgeting keeping in mind the GDP at constant prices at factor cost

2) The assumption that there are little or no natural resources to be leveraged

3) Planning in view that the nation is industrially backward

Select the correct option-

Question 5

Consider the following statements regarding ‘Advance Pricing Agreement’.

1) It is an agreement between a tax authority and a tax payer

2) It is an agreement between two governments

3) It is an agreement to discover the pricing methodology between related company transactions

4) It helps in making a country an attractive destination for foreign investments


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Jan 29IAS