RBI Grade B Economic & Social Issues (ESI) Quiz for Phase II 2023
RBI Grade B Economic & Social Issues (ESI) Quiz for Phase II 2023

RBI Grade B Economic & Social Issues (ESI) Quiz for Phase II 2023

Economic & Social Issues (ESI) Questions with the answer. RBI Grade B Economic & Social Issues (ESI) Notes PDF.RBI Grade B ESI Study Material PDF. RBI Economic & Social Issues (ESI) Books, PDF, Previous Papers, Question Set, and study material. As we all know that RBI Grade B Notification 2023 is out. The Reserve Bank of India (RBI) conducted the RBI Grade B Phase I Exam for the post of Grade B (Grade ‘B’ (DR) – (General) & others). It’s the right time when you should start your RBI Grade B 2023 Phase II preparation at full pace.

If you are preparing for RBI Grade B 2023 ( Phase II), you will come across a section on “Economic & Social Issues (ESI)  wherein 65 questions will be there carrying 50 marks. Here we are providing you with “Economic & Social Issues (ESI) Questions For RBI Grade B” with answers based on the latest pattern of your daily practice.

Economic & Social Issues (ESI) Questions For RBI Grade B | Set-13


1. Generally unemployment in a developing country takes place because of ___________.

  1. Lack of complementary factors of production
  2. Seasonal factors
  3. Lack of effective demand
  4. Switch over from one job to another
  5. None of these

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Correct Answer: A. Lack of complementary factors of production

Explanation- Generally, unemployment in a developing country takes place because of lack of complementary factors of production.

  • There are four factors of production- land, labor, capital and organization/entrepreneurship.
  • If the country is not able to generate employment opportunities to gainfully engage and involve these factors of production, the required amount of output cannot be produced and income cannot be generated, which usually, results in unemployment.
  • Unemployment is the condition when a large number of able-bodied people of working age, who are willing to work but could not find work at the current wage levels.
  • As of 2018, round about 31 million Indians are unemployed.

Types of Unemployment are as follows:

1 Frictional Unemployment Refers to temporary unemployment associated with the changing of jobs in the dynamic economy.
2 Structural Unemployment Refers to unemployment that occurs due to the long-term decline of certain industries.
3 Seasonal Unemployment Refers to unemployment that results from a change in taste, fashion, and season.
4 Voluntary Unemployment Refers to unemployment that results when people are not willing to work at a certain wage rate, even when the work is available.
5 Involuntary Unemployment Refers to unemployment that occurs when the people are ready to work but there are not enough job opportunities.
6 Cyclic Unemployment Refers to unemployment that occurs as a result of the business cycle. E.g. In case of economic recession in a country, job opportunities decrease, workers get laid off from a job, etc.

2. Atal Innovation Mission is the initiative of ________.

  1. Ministry of Electronics & Information Technology
  2. Ministry of Science & Technology
  3. NITI Aayog
  4. National Informatics Centre
  5. None of the above

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Correct Answer – C. NITI Aayog

Explanation- Atal Innovation Mission is the initiative of NITI Aayog. It is a Government of India’s endeavor to promote a culture of innovation and entrepreneurship. Its objective is to serve as a platform for promotion of world-class Innovation Hubs, Grand Challenges, Start-up businesses, and other self-employment activities, particularly in technology driven areas.

3. Which of the following is one of the indicators of Human Development Index (HDI)?

  1. Life expectancy at birth
  2. Total cost of the agricultural land with a family
  3. Total area of the agricultural land with a family
  4. Availability of perennial source of water for irrigation
  5. Nature of employment, casual/permanent or semi permanent

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Correct Answer – A. Life expectancy at birth

Explanation-The Human Development Index (HDI) is a composite statistic of life expectancy, education, and per capital income indicators. Life expectancy is a statistical measure of the average time an organism is expected to live, based on the year of their birth, their current age and other demographic factors including sex.

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4. Which is a scheme for providing Physical aids and Assisted-living Devices for senior citizens belonging to BPL category?

  1. Rashtriya Vayoshri Yojana
  2. Vayoshreshtha Yojana
  3. Pradhan Mantri Vayoshri Yojana
  4. Rajya Vayoshreshtha Yojana
  5. None of these

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Correct Answer: A. Rashtriya Vayoshri Yojana

Explanation- Rashtriya Vayoshri Yojana is a scheme that was launched to aid senior citizens belonging to the BPL category by providing them with Physical aids and Assisted-living Devices like spectacles, wheelchairs, dentures, etc.

  • The scheme was launched by the Union Ministry of Social Justice and Empowerment on 1st April 2017.
  • The responsibility of providing these aides and their maintenance is given to Artificial Limbs Manufacturing Corporation (ALIMCO), a PSU.

Directions:(5-9) Read the passage below and answer the given question.

Livestock plays an important role in Indian economy. About 20.5 million people depend upon livestock for their livelihood. Livestock contributed 16% to the income of small farm households as against an average of 14% for all rural households. Livestock provides livelihood to two-third of rural community. It also provides employment to about 8.8 % of the population in India. India has vast livestock resources. Livestock sector contributes 4.11% GDP and 25.6% of total Agriculture GDP. The livestock plays an important role in the economy of farmers. The farmers in India maintain mixed farming system i.e. a combination of crop and livestock where the output of one enterprise becomes the input of another enterprise thereby realize the resource efficiency.

5. How many sub-missions are being run under the National Livestock Mission?

A. 3
B. 5
C. 6
D. 4
E. 10

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Correct Answer – D. 4

Explanation: The National Livestock Mission (NLM) has 4 submissions as follows:

  • The Sub-Mission on Fodder and Feed Development will address the problems of scarcity of animal feed resources, in order to give a push to the livestock sector making it a competitive enterprise for India, and also to harness its export potential.
  • Under Sub-Mission on Livestock Development, there are provisions for productivity enhancement, entrepreneurship development and employment generation (bankable projects), strengthening of infrastructure of state farms with respect to modernization, automation and biosecurity, conservation of threatened breeds, minor livestock development, rural slaughter houses, fallen animals and livestock insurance.
  • Sub-Mission on Pig Development in North-Eastern Region: There has been persistent demand from the North Eastern States seeking support for all round development of piggery in the region. For the first time, under NLM a Sub-Mission on Pig Development in North-Eastern Region is provided wherein Government of India would support the State Piggery Farms, and importation of germplasm so that eventually the masses get the benefit as it is linked to livelihood and contributes in providing protein-rich food in 8 States of the NER.

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6. Which organisation is the subsidy channelizing agency under Entrepreneurship Development & Employment Generation (EDEG) component of National Livestock Mission?

A. RBI
B. NABARD
C. SIDBI
D. Small Farmers Agriculture Consortium (SFAC)
E. None of the Above

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Correct Answer – B. NABARD

Explanation: National Livestock Mission is an initiative of the Ministry of Agriculture and Farmers’ Welfare. The mission, which commenced from 2014-15, has the objective of sustainable development of the livestock sector.

NABARD is the subsidy channelizing agency under Entrepreneurship Development & Employment Generation (EDEG) component of National Livestock Mission. This includes:

  • Poultry Venture Capital Fund (PVCF)
  • Integrated Development of Small Ruminants and Rabbit (IDSRR)
  • Pig Development (PD)
  • Salvaging and Rearing of Male Buffalo Calves (SRMBC)

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7. Which of the following is not a sub-mission of the National Livestock Mission?

A. Improving availability of quality feed and fodder
B. Development of piggery in the Island areas of the country
C. Skill development and technology extension services
D. Sub-Mission on Livestock Development
E. None of the Above

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Correct Answer – B. Development of piggery in the Island areas of the country

Explanation: The National Livestock Mission (NLM) has 4 submissions as follows:

The Sub-Mission on Fodder and Feed Development will address the problems of scarcity of animal feed resources, in order to give a push to the livestock sector making it a competitive enterprise for India, and also to harness its export potential.

Under Sub-Mission on Livestock Development, there are provisions for productivity enhancement, entrepreneurship development and employment generation (bankable projects), strengthening of infrastructure of state farms with respect to modernization, automation and biosecurity, conservation of threatened breeds, minor livestock development, rural slaughter houses, fallen animals and livestock insurance.

Sub-Mission on Pig Development in North-Eastern Region: There has been persistent demand from the North Eastern States seeking support for all round development of piggery in the region. For the first time, under NLM a Sub-Mission on Pig Development in North-Eastern Region is provided wherein Government of India would support the State Piggery Farms, and importation of germplasm so that eventually the masses get the benefit as it is linked to livelihood and contributes in providing protein-rich food in 8 States of the NER.

Sub-Mission on Skill Development, Technology Transfer and Extension: The extension machinery at field level for livestock activities is very weak. As a result, farmers are not able to adopt the technologies developed by research institutions. The emergence of new technologies and practices require linkages between stakeholders and this sub-mission will enable a wider outreach to the farmers. All the States, including NER States may avail the benefits of the multiple components and the flexibility of choosing them under NLM for a sustainable livestock development.

8. Prior the census of 2018, when was the last livestock census conducted in the country?

  1. 2015
  2. 2014
  3. 2013
  4. 2012
  5. None of the Above

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Correct Answer – D. 2012

Explanation: The 20th Livestock Census will be conducted in all districts of the Indian Union in participation with all States and Union Territories. States/UTs have been requested to start the census operations from 1st October, 2018.

The 20th Livestock Census, delayed almost by a year, assumes significance because it was the first-ever enumeration of domestic animals since the Narendra Modi government came to power in May 2014. The period also witnessed a series of unpopular decisions such as restriction of cattle trade in the country, apart from more than two dozen lynching of people who have been ferrying cattle from one place to another. These measures had an adverse impact on cattle trade in the country, with most livestock markets reporting significant drop in cattle prices. The last livestock census was in 2012.

The exercise would also cover fisheries. The latest data on fishermen folk available in the country is from the 17th Livestock Census conducted in 2003. Therefore, it is important to the information on fishermen families and infrastructure available for both inland and marine fisheries sector.

9. As per the Livestock Census 2012, the three largest states with highest livestock population are:

A. Uttar Pradesh; Rajasthan and Andhra Pradesh (including Telangana)
B. Madhya Pradesh; Uttar Pradesh and Andhra Pradesh (including Telangana)
C. Uttar Pradesh; Madhya Pradesh and Andhra Pradesh (including Telangana)
D. Maharashtra; Rajasthan and Andhra Pradesh (including Telangana)
E. None of the Above

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Correct Answer – A. Uttar Pradesh; Rajasthan and Andhra Pradesh (including Telangana)

Explanation: Livestock Census is done every five years since 1919. Last Livestock census (19th) was done in 2012 and next one (20th) is to be done in 2017. The off official report is located here. Key facts are enumerated below: India’s Livestock Census covers the animals viz. Cattle, Buffalo, Sheep, Goat, Pig, Horses & Ponies, Mules, Donkeys, Camels, Mithun and Yak. Their total number crosses 512 million. Further, Dogs, Rabbits and Elephants are also covered

  • India’s three largest states with highest livestock population are Uttar Pradesh; Rajasthan and Andhra Pradesh (including Telangana).
  • Three largest states with maximum poultry population are Andhra Pradesh (and Telangana), Tamil Nadu and Maharashtra.

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10. Which of the following statements is incorrect about Cost-Push and Demand-Pull Inflation?

  1. Cost-push inflation is the decrease in the aggregate supply of goods and services stemming from an increase in the cost of production.
  2. Demand-pull inflation is the increase in aggregate demand.
  3. An increase in the costs of raw materials or labour can contribute to cost-push inflation.
  4. Demand-pull inflation can be caused by shrinking economy or reduced government spending.
  5. All the above statements are correct.

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Correct Answer – D. Demand-pull inflation can be caused by shrinking economy or reduced government spending.

Explanation- There are four main drivers behind inflation. Among them are cost-push inflation, or the decrease in the aggregate supply of goods and services stemming from an increase in the cost of production, and demand-pull inflation, or the increase in aggregate demand, categorized by the four sections of the macroeconomy. The two other contributing factors to inflation include an increase in the money supply of an economy and a decrease in the demand for money. Remember, inflation is the rate at which the general price level of goods and services rises. This, in turn, causes a drop in purchasing power. This is not to be confused with the change in the prices of individual goods and services, which rise and fall all the time. Inflation happens when prices rise across the economy to a certain degree.

Cost-push inflation is the decrease in the aggregate supply of goods and services stemming from an increase in the cost of production. Demand-pull inflation is the increase in aggregate demand, categorized by the four sections of the macroeconomy: households, business, governments, and foreign buyers. An increase in the costs of raw materials or labor can contribute to cost-pull inflation. Demand-pull inflation can be caused by an expanding economy, increased government spending, or overseas growth.

Economic & Social Issues (ESI) Quizzes For RBI Grade B 2023

Set-15 Set-14 Set-13 Set-12 Set-11
Set-10 Set-9 Set-8 Set-7 Set-6
Set-5 Set-4 Set3 Set-2 Set-1

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