100% Free ESI Questions Quiz For NABARD Grade A Exam
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NABARD Grade A 2022: Economic & Social Issues Questions

NABARD ESI Books, PDF, Previous Papers, Question Set, and study material.Expected ESI Questions for NABARD Grade-A Exam. NABARD ESI Study Material PDF. Welcome to the Let’s Study Together online NABARD Grade-A Exam Section. If you are preparing for NABARD Grade-A Exam 2022, you will come across a section on “Economic & Social Issues (ESI)” (with a focus on Rural India) wherein 40 questions will be there carrying 40 marks.

In the NABARD Grade-A exam, Agriculture and Rural Development section holds an important role as it is asked in both phases i.e. Phase I and II. Here we are providing you with “Free ESI Questions” for the NABARD Grade A & B 2022 Exam based on the latest pattern of your daily practice to enhance your exam preparation!

Free Quiz of ESI Questions For NABARD Grade-A Exam | Set-26


1. According to a World Bank report, the Indian economy is the __________ largest economy in the world.

A. Fifth
B. Sixth
C. Seventh
D. Eighth
E. Ninth

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Correct Answer: C. Seventh

Explanation-India has been pushed to the seventh place in the global GDP rankings in 2018 with the UK and France forging ahead to the fifth and sixth spots, data compiled by the World Bank showed. In 2017, India had emerged as the sixth-largest economy, while France was pushed to seventh place in the global GDP league table. The US remains the top economy with a GDP of $20.5 trillion in 2018. China was the second-largest economy with $13.6 trillion, while Japan took third place with $5 trillion. India’s GDP was at $2.7 trillion in 2018, while the UK and France were at $2.8 trillion.

2. Harmonized Master List of Infrastructure sub-sectors is notified by the _____.

A. Ministry of Commerce and Industries
B. NITI Aayog
C. DIPAM
D. Ministry of Finance
E. None of these

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Correct Answer – D. Ministry of Finance

Explanation-Harmonised Master List of Infrastructure sub-sectors is notified by the Ministry of Finance. It includes following categories:

  • Transport and Logistics: Roads and bridges, Inland waterways, Airport, etc.
  • Energy: Electricity Generation, Electricity Transmission, etc.
  • Water and Sanitation: Solid Waste Management, Water treatment plants, etc.
  • Communication: Telecommunication, etc.
    Social and Commercial Infrastructure: Education Institutions (capital stock), Sports Infrastructure, Hospitals (capital stock), Tourism infrastructure, etc. Hence, option D is correct. Recently, the Finance Ministry has granted ‘Infrastructure’ status for exhibition and convention centres. It has been included in the List by insertion of a new item in the category of Social and Commercial Infrastructure. In 2020, the government added affordable rental housing projects to the list of sectors recognised as infrastructure.

3. Which of the following is the effect of Devaluation of currency on domestic market?

A. Fall in domestic prices
B. Increase in domestic prices
C. No impact on domestic prices
D. Erratic fluctuations in domestic prices
E. None of these

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Correct Answer – B. Increase in domestic prices

Explanation-Devaluation of currency will make it more expensive for local consumers to obtain foreign currency with which to import foreign goods, hurting domestic consumers and causing less to be imported and it leads to increase in domestic prices.Devaluation is the deliberate downward adjustment of the value of a country’s money relative to another currency, group of currencies, or currency standard.

4. The National SC/ST Hub has been set up to provide professional support to SCs and STs Entrepreneurs. The Hub would be implemented by the Ministry of MSME through NSIC. What is the expanded form of NSIC?

A. National Small Industries Council
B. National Small Industries Company
C. National Small Industries Corporation
D. National Small Investment Corporation
E. None of these

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Correct Answer: C. National Small Industries Corporation

Explanation-The expanded form of NSIC is National Small Industries Corporation

  • NSIC signs MOU with Ministry of MSME. The MOU envisages provision of enhanced services by NSIC under its marketing, financial, technology and other support services schemes for MSMEs in the country.
  • Under the scheme of National SC-ST Hub being implemented by NSIC on behalf of the Ministry of MSME, it will be a continued endeavour to provide assistance to SC/ST entrepreneurs through different interventions and various outreach activities with the overall objectives to increase their participation in public procurement.
  • The National SC/ST Hub has been set up to provide professional support to Scheduled Caste and Scheduled Tribe Entrepreneurs to fulfil the obligations under the Central Government Public Procurement Policy for Micro and Small Enterprises Order 2012, adopt applicable business practices and leverage the Stand-Up India initiative.
  • The Hub would be implemented by the Ministry of MSME through National Small Industries Corporation (NSIC), a public-sector undertaking under the administrative control of this Ministry of MSME.

NABARD Economic & Social Issues (ESI) Study Material 2022 | Quizzes | Books | Paper PDF – Click Here

5. _____ defines the poverty in relation to the economic status of other members of the society: people are poor if they fall below the prevailing Standards of living in the given societal context.

A. Absolute poverty
B. Rural Poverty
C. Relative Poverty
D. Situational Poverty
E. Generational Poverty

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Correct Answer – C. Relative Poverty

Explanation- Relative Poverty – It is defined from the social perspective that is living standard compared to the economic standards of the population living in surroundings.

  • Hence it is a measure of income inequality. For example, a family can be considered poor if it cannot afford vacations, or cannot buy presents for children at Christmas, or cannot send its young to the university.
  • Usually, relative poverty is measured as the percentage of the population with income less than some fixed proportion of median income.
  • Absolute poverty: Also known as extreme poverty or abject poverty, it involves the scarcity of basic food, clean water, health, shelter, education and information. Those who belong to absolute poverty tend to struggle to live and experience a lot of child deaths from preventable diseases like malaria, cholera and water-contamination related diseases. Absolute Poverty is usually uncommon in developed countries.

6. Consider the following statements:

1. Foreign Portfolio Investment (FPI) is often referred to as hot money.

2. FPI does not provide the investor with direct ownership of financial assets.

3. FPI is part of a country’s capital account and is shown on its Balance of Payments.
Which of the statements given above is/are correct?

A. 1 and 2 only
B. 2 only
C. 3 only
D. 1, 2 and 3
E. None of these

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Correct Answer – D. 1, 2 and 3

Explanation-Foreign portfolio investment (FPI) consists of securities and other financial assets passively held by foreign investors. It does not provide the investor with direct ownership of financial assets and is relatively liquid depending on the volatility of the market. Hence, statement 2 is correct. Examples of FPIs include stocks, bonds, mutual funds, exchange traded funds, American Depositary Receipts (ADRs), and Global Depositary Receipts (GDRs). Other Details Related to FPI:

  • FPI is part of a country’s capital account and is shown on its Balance of Payments (BOP).
  • Hence, statement 3 is correct.
  • The BOP measures the amount of money flowing from one country to other countries over one monetary year.
  • The Securities and Exchange Board of India (SEBI) brought new FPI Regulations, 2019, replacing the erstwhile FPI Regulations of 2014.
  • FPI is often referred to as “hot money” because of its tendency to flee at the first signs of trouble in an economy.
  • Hence, statement 1 is correct.
  • FPI is more liquid and less risky than Foreign Direct Investment.

7. Which of the following constitute Sustainable Development Goals:

A) No poverty

B) No hunger

C) No terror

D) Good health

E) Quality education

A. A, B and C
B. A, B, D and E
C. B, C, D and E
D. All of the above
E. None of these

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Correct Answer – D. All of the above

Explanation-The Sustainable Development Goals (SDGs) are a collection of 17 global goals set by the United Nations General Assembly in 2015 for the year 2030. The SDGs are part of Resolution 70/1 of the United Nations General Assembly, the 2030 Agenda.

The Sustainable Development Goals are: 1) No Poverty, 2) Zero Hunger, 3) Good Health and Well-being, 4) Quality Education, 5) Gender Equality, 6) Clean Water and Sanitation, 7) Affordable and Clean Energy, 8) Decent Work and Economic Growth, 9) Industry, Innovation, and Infrastructure, 10) Reducing Inequality, 11) Sustainable Cities and Communities, 12) Responsible Consumption and Production, 13) Climate Action, 14) Life Below Water, 15) Life On Land, 16)Goal 16 is dedicated to the promotion of peaceful and inclusive societies in developing countries, to prevent violence and combat terrorism and crime.

The goals are broad-based and interdependent. The 17 Sustainable Development Goal’s each have a list of targets that are measured with indicators.

NABARD Agriculture & Rural Development (ARD) 2022 | Quizzes | Books | Paper PDF – Click Here

8. Technical Textiles are categorized into 12 broad categories, which one of the following is not one of them?

A. AgroTech
B. PetroTech
C. BuildTech
D. GeoTech
E. None of these

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Correct Answer –B. PetroTech

Explanation-Technical textiles are textiles materials and products manufactured primarily for technical performance and functional properties rather than aesthetic characteristics. Technical Textiles products are divided into 12 broad categories (Agrotech, Buildtech, Clothtech, Geotech, Hometech, Indutech, Mobiltech, Meditech, Protech, Sportstech, Oekotech, Packtech) depending upon their application areas.

9. The communist philosophy is wound around the point that the decisions need to be made at the centralised level. USSR was a communist state, which type of economics will describe the economic system followed by USSR?

A. Traditional Economic System
B. Command Economic System
C. Mixed Economic System
D. Market Economic System
E. None of these

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Correct Answer –B. Command Economic System

Explanation-In a command economic system, a large part of the economic system is controlled by a centralized power. For example, in the USSR most decisions were made by the central government. This type of economy was the core of the communist philosophy. China or D.P.R.K. (North Korea) are examples of command economies.

10. Which one the following statements is true regarding the Phillips Curve of an economy?

A. An inverse relationship between the rate of inflation and rate of GDP growth
B. An inverse relationship between the rate of inflation and rate of GDP growth
C. An inverse relationship between the rate of inflation and rate of unemployment
D. A directly proportionate relationship between the rate of inflation and rate of unemployment
E. None of these

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Correct Answer – C. An inverse relationship between the rate of inflation and rate of unemployment

Explanation-  The Phillips curve is an economic concept developed by A. W. Phillips showing that inflation and unemployment have a stable and inverse relationship. This means that as unemployment increases in an economy, the inflation rate decreases. The theory states that economic growth comes inflation, which in turn should lead to more jobs and less unemployment. However, the original concept has been somewhat disproven empirically due to the occurrence of stagflation in the 1970s, when there were high levels of both inflation and unemployment.

NABARD ARD Notes 2022

Types of Cropping Systems Minimum Support Prices (MSP)
Water Conservation: Need and Importance Rural Development Organizations in India
Free Complete NABARD Grade-A 2022 Study Material – Click Here

Solving NABARD Economic & Social Issues (ESI) Practice Questions will not only help you understand the level of questions in the NABARD Grade-A Exam but also give you chance to learn the topics of the NABARD Grade A & B Exam syllabus.


A Complete Book for NABARD Economic & Social Issues (ESI) 2022– Download Now

A Complete Book for NABARD Economic & Social Issues (ESI) 2022

Study Material for NABARD Grade-A 2022

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