Economic & Social Issues (ESI) Questions For RBI Grade B Phase II 2023 | Set-15

Correct Answer – C. Upgrading the Skills and Training in Traditional Arts/Crafts for Development

Explanation- Union Government has launched the Upgrading the Skills and Training in Traditional Arts/Crafts for Development (USTTAD) Scheme. The Scheme aims at upgrading Skills and Training of minority communities by preservation of traditional ancestral Arts and Crafts. It also envisages boosting the skill of craftsmen, weavers and artisans who are already engaged in the traditional ancestral work. Under the scheme, assistance will be provided to traditional artisans to sell their products in order to make them more compatible with modern markets. The scheme will also establish linkages of traditional arts/crafts with the national and international market and ensure dignity of labour. It is fully funded by Union Government and Union Ministry of Minority Affairs is nodal agency in implementing it.

Correct Answer:  D. NGO ‘Pratham’

Explanation:  The Non-Governmental organisation, called ‘Pratham’ releases the Annual Status of Education Report (ASER) in India. The ASER for the year 2019 was released recently. The report states that five-year-old children in private institutions performed better in learning activities than the same-aged children in Government-run schools and anganwadis.

Correct Answer – B. Rs 1.5-lakh-crores

Explanation: The Centre announced a Rs 2.1-lakh-crore capital infusion plan for state-owned banks and an ambitious road development programme to boost the economy. Banks burdened by bad loans will get Rs 1.35 lakh crore from bonds, Rs 18,000 crore from the Budget and raise the remaining Rs 58,000 crore through share sales.

Correct Answer – B. Ministry of Health and Family Welfare

Explanation- The Ministry of Health and Family Welfare (MoHFW) established a network of Population Research Centres (PRCs) with the mandate to provide, inter alia, critical research-based inputs related to the Health and Family Welfare Programs and Policies at the national and state levels. Activities of PRCs are monitored by the Ministry of Health and Family Welfare through regular periodical progress reports and meeting, seminars etc. Besides, guidance is also provided by various institutions as well as committees both at State and national level constituted by the Ministry from time to time. Administratively, these PRCs are under the control of their host University/Institutions where they are located. However, as the PRCs are established as well as fully funded by the Ministry of health & family Welfare, they are governed by the guidelines issued by the Ministry from time to time.

Correct Answer: A. Maharashtra

Explanation- Maharashtra tops the list of states hit by global medical data leak.

• Report was published by Greenbone Sustainable Resilience,a German Cybersecurity Firm.
• Greenbone revealed a widespread data leak of CT scans,X Rays,MRIs and even pictures of the patients.
• Greenbone has classified countries in three categories as good,bad and ugly.
• India ranks second in Ugly category,topped by U.S.
• Maharashtra: State Animal – Indian giant squirrel

State Bird – Yellow-footed green pigeon

Correct Answer:  A. 1 and 3 only

Explanation:  Microfinance is a form of financial service which provides small loans and other financial services to poor and low-income households. Hence, statement 1 is correct.

• Indian microfinance sector has witnessed phenomenal growth over the past two decades in terms of increase in both the number of institutions providing microfinance and the quantum of credit made available to the microfinance customers. Hence, statement 3 is correct.
• Microfinance (Microcredit) is delivered through a variety of institutional channels viz.,
  • Scheduled commercial banks (SCBs) (including small finance banks (SFBs) and regional rural banks (RRBs)).
  • Cooperative banks
  • Non-banking financial companies (NBFCs)
  • Microfinance institutions (MFIs) registered as NBFCs as well as in other forms.

Hence, statement 2 is not correct.

Correct Answer – C. 715-810

Explanation- Researchers have discovered the oldest ever mushroom fossil to be identified.  According to the scientists, the oldest confirmed mushroom fossil until now was dated to 460 million years ago. In the current study, published in the journal Science Advances, researchers found fossilised remains of microscopic mushroom parts called mycelium in rocks whose age is between 715-810 million years.

Correct Answer – D. I, II and III

Explanation- Fiscal consolidation is a process where government’s fiscal health getting improved indicated by reduced fiscal deficit which is manageable and bearable for the economy. Improved tax revenue realization and better aligned expenditure are thus components of fiscal consolidation. According to Financial time’s lexicon, “Fiscal consolidation is a reduction in the underlying fiscal deficit. It is not aimed at eliminating fiscal debt’s adverse effects. For the government it causes interest payment burden and for the economy it produces inflationary effect, and rising interest rate in the economy.

Correct Answer – D. A and C only

Explanation: Multidimensional Poverty Index:MPI was co-designed and launched by the United Nations Development Programme (UNDP) Human Development Report Office (HDRO) and the Oxford Poverty and Human Development Initiative (OPHI).It was first published in 2010.It identifies how people are being left behind across three key dimensions i.e Health, Education and Standard of living.It is composed of 10 indicators.Deprivation in at least one third of the weighted indicators means multidimensional poor.MPI can help the effective allocation of resources by making possible the targeting of those with the greatest intensity of poverty.

Correct Answer – C only 3

Explanation: Statement 1 is incorrect as In WPI basket, Services are not included. Statement 2 is incorrect as In India, the Office of Economic Advisor (OEA), Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry calculates the WPI. Statement 3 is correct as Under WPI, Manufactured Products have maximum weightage.