Current Affairs Based Objective Questions Set-9

1. The current RBI Governor has recently called for re-examining of new GDP calculation method. Which of the following is/are the concerns related to this issue?
   1. Contradiction among GDP numbers and other economic indicators like IIP, expansion of banks etc.
   2. Growth in manufacturing sector does not reconcile with ground level reality.
   3. Difficulty in tracking 'value addition' in economy due to lack of credible data from the informal sectors.
   4. All of the above.
       
2. Which of the following statement is incorrect regarding the 'new GDP series' launched in February, 2015?
   1. Base year has been changed to 2011-12 from 2004-05.
   2. Shift has been made from market-cost based method to factor-cost based method.
   3. The new measure would take into account the 'value addition' in the economy rather than 'growth through volume'.
   4. More sophisticated use of corporate database for GDP measurement will be used.
       
3. The paper was introduced in India from Persia in :
   
   1. 9^th Century
   2. 12^th Century
   3. 15^th Century
   4. 17^th Century
       
4. The long lasting insecticidal nets (LLINs) are used as:
   1. Protection against Malaria.
   2. Protection against pest infestation in the crop field.
   3. Organic insecticidal sprays.
   4. Both b and c
       
5. Which of the following Indian government schemes has successfully completed its 10 years in February 2016?
   1. Jawaharlal Nehru National Urban Renewal Mission (JNNURM)
   2. Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA)
   3. Sarva Shiksha Abhiyaan (SSA)
   4. Integrated Child Development Scheme (ICDS)
       
6. Which of the following statement is incorrect in context of MGNREGA?
   
   1. It is a 'supply-driven scheme'.
   2. It has a 'right-based entitlement framework'.
   3. It provides 'legal guarantee for wage employement'
   4. Unemployment allowance has been provided under the scheme.
       
7. Recently, some concerns have been raised by the political leadership against the efficacy of MGNREGA. Which of the following statement is not one of the main issues related to MGNREGA?
   1. Centralized selection of work.
   2. Suppression of demand for work under MGNREGA.
   3. Delayed payments to the workers.
   4. Making Aadhar card mandatory for receiving payments in bank accounts.

Answers

1. d
2. b, Shift has been made from factor-cost based method to market-cost based method
3. b
4. d
5. b
6. a, It is a demand driven scheme
7. d, Aadhar card is not mandatory for Direct Benefit Transfer scheme.

References

New GDP Series: http://www.thehindubusinessline.com/portfolio/whats-different-about-the-new-gdp/article6971890.ece,  http://blog.frontierstrategygroup.com/2015/10/indias-new-gdp-series-and-why-it-matters/

Long lasting insecticidal nets (LLIN): http://www.cdc.gov/malaria/malaria_worldwide/reduction/itn.html

MGNREGA: www.nrega.nic.in/