Economic & Social Issues (ESI) Questions For RBI Grade B Phase II 2023 | Set-17

Correct Answer – E. HLL Lifecare Ltd (HLL)

Explanation- The flagship programme of the Union Health ministry – AMRIT (Affordable Medicines and Reliable Implants for Treatment) aims to provide affordable life-saving cancer, cardiac drugs and medical disposables. The AMRIT pharmacies offer an average discount of 63% on medicines. The AMRIT programme was launched in November 2015 and is being implemented through mini-Ratna PSU HLL Lifecare Ltd (HLL) which has been setting up pharmacies at major hospitals across the country.

Correct Answer – B. Monopolies and Restrictive Trade Practices Commission (MRTPC)

Explanation- The Competition Commission was a non-departmental public body responsible for investigating mergers, markets and other enquiries related to regulated industries under competition law in the United Kingdom. It was a competition regulator under the Department for Business, Innovation and Skills (BIS). It was tasked with ensuring healthy competition between companies in the UK for the ultimate benefit of consumers and the economy. The Competition Commission replaced the Monopolies and Mergers Commission on 1 April 1999. It was created by the Competition Act 1998, although the majority of its powers were governed by the Enterprise Act 2002.

Correct Answer – D. Food Processing

Explanation- A new classificatory term i.e., core industries was created. The industries which were of fundamental importance for the development of industries were put in this category such as iron and steel, cement, coal, crude oil, oil refining and electricity. In the future, these industries came to be known as basic industries, infrastructure industries in the country.

Correct Answer: C. Producer, Consumer

Explanation- GVA: It is a measure of total output and income in the economy. It provides the rupee value for the amount of goods and services produced in an economy after deducting the cost of inputs and raw materials that have gone into the production of those goods and services. It also gives sector-specific picture like what is the growth in an area, industry or sector of an economy.

• GDP: gives the economic output from the consumers’ side. It is the sum of private consumption, gross investment in the economy, government investment, government spending and net foreign trade (difference between exports and imports).
• Difference between GDP and GVA: While GVA gives a picture of the state of economic activity from the producers’ side or supply side, the GDP gives the picture from the consumers’ side or demand perspective. Both measures need not match because of the difference in treatment of net taxes.

Correct Answer: E. Nai Kiran

Explanation- While all other are the schemes aimed towards welfare community in India, Nai Roshni not Nai Kiran is the scheme to reach out to women through nongovernmental organizations who will be provided with financial support for conducting leadership development trainings so that women are empowered and emboldened to move out of the confines of home and community and assume leadership roles and assert their rights collectively or individually.

Correct Answer – E. Article 21-A

Explanation- Free and compulsory education of children in the 6 to 14 age group in India became a fundamental right when, in 2002, Article 21-A was inserted in the 86th Amendment to the Constitution. This right was to be governed by law, as the state may determine, and the enforcing legislation for this came eight years later, as the Right of Children to Free and Compulsory Education (RTE) Act, 2010, or the RTE Act.

Correct Answer – D. RBI

Explanation- The Reserve Bank of India (RBI) is the main agency for collection and dissemination of statistics in respect of the Financial and External Sector. It has an elaborate mechanism to collect, compile and disseminate these data. Most of the data are released through its website. Current data dissemination of RBI encompasses not only traditional publications such as the Annual Report, Report on Currency and Finance, Report on Trend and Progress of Banking in India, Handbook of Statistics on Indian Economy, Monthly Bulletin and the Weekly Statistical Supplement to the Bulletin, but also high frequency data and information on financial markets on a daily basis through the website and Press Releases.

Correct Answer – C. Geneva, Switzerland

Explanation- and a three-time Nobel Prize Laureate. State parties (signatories) to the four Geneva Conventions of 1949 and their Additional Protocols of 1977 (Protocol I, Protocol II) and 2005 have given the ICRC a mandate to protect victims of international and internal armed conflicts. Such victims include war wounded, prisoners, refugees, civilians, and other non-combatants.

Correct Answer – A.  Rs. 50,000

Explanation-SHGs is a small economically homogenous and affinity group of poor people voluntarily formed to save and mutually agree to contribute to a common fund to be lent to its members as per group decision.

State Channelizing Agencies (SCAs) may also play a vital role through their field officers, encouraging people of the target group in forming Self-Help-Groups and get financial assistance under Micro Finance Scheme of NBCFDC. Salient Features of the Scheme

• Maximum loan limit per beneficiary: Rs. 50,000/-
• Maximum number of persons in one SHG: 20

Correct Answer:  C. National Health Mission

Explanation:  The Union Ministry of Health and Family Welfare is implementing the Electronic Vaccine Intelligence Network (eVIN) under the National Health Mission (NHM).It is an innovative technological solution that aims to strengthen immunization supply chain system across the country. It aims to provide real-time information on vaccine stocks and storage temperatures. At present the network has been used in 22 states and will be rolled out in all states.