NABARD Grade A & B Exam 2021 : Economic & Social Issues (ESI) Questions | Set-13

Correct Answer – C. 4900 crore

Explanation- The Centre has approved the Rs 4,900 crore project for interlinking of Kosi and Mechi rivers of Bihar.

Correct Answer – B. 7.3%

Explanation- The National Council of Applied Economic Research (NCAER) has said it sees the economy registering a contraction of 7.3 per cent in FY21. Releasing its ‘2020-21 Mid-Year Review of the Indian Economy’ at a webinar, the NCAER has forecast the annual CPI inflation at 6.7 per cent. It has revised its GDP growth forecasts for Q3 and Q4 to 0.1 per cent and 2 per cent, respectively. CPI headline inflation is forecast at 7 per cent in Q3 and 6.3 per cent in Q4. The NCAER GDP forecast of (-) 7.3 per cent for FY21 is only marginally higher than the RBI forecast of (-) 7.5 per cent.

Correct Answer – D. Consumer Protection Act, 1986

Correct Answer – C. Department of Revenue of the Ministry of Finance

Explanation- The Department of Revenue, Ministry of Finance, as part of its strategic commitment to improving global trade, conducted India’s first national Time Release Study (TRS) between 1st – 7th August.

Correct Answer – B.  Geneva, Switzerland

Explanation- Geneva, Switzerland, where the WTO headquarters is located, is a unique place, with many United Nations and other international organizations, as well as missions to the WTO.

Correct Answer: B. UN Sustainable Development solutions Network

Explanation- World Happiness Report is published by the UN Sustainable Development solutions Network on the eve of International Day of Happiness (20 March). It ranks the countries based on factors such as inequality, life expectancy, GDP per capita, public trust (i.e. a lack of corruption in government and business), and social support. Together they are used to generate a happiness score of country on a scale from 1 to 10.

Correct Answer – B. 2001

Explanation- The Doha Development Agenda was launched in the November 2001, which was at the 4th Ministerial Conference held in Doha, Qatar.
· The talks aimed at further liberalizing trade, whilst making it easier for developing countries, particularly Least Developed Countries (LDCs), to integrate into the WTO multilateral system.
· The Doha Round began with a ministerial-level meeting in Doha, Qatar in 2001. Subsequent ministerial meetings took place in Cancún, Mexico (2003), and Hong Kong (2005). Related negotiations took place in Paris, France (2005), Potsdam, Germany (2007), and Geneva, Switzerland (2004, 2006, 2008);

Correct Answer – E.  Formation of Regional Blocks for ensuring Free Trade Agreements

Explanation- All the options except Option (e) form the Principles of the Trading System. Other Principles being:
(a)Encouraging Freer Trade through negotiations
(b)Encouraging Development and Economic Reforms

Correct Answer – B. 2017

Explanation- India became the 76th member to ratify the trade facilitation agreement (TFA) of the World Trade Organization. The TFA came into force on 22nd February 2017 with the ratification of two-third membership of the WTO.

Correct Answer: C. Rs 200 crore