NABARD Grade A & B Exam 2021 : Economic & Social Issues (ESI) Questions | Set-20

Correct Answer – E. 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 – B. Doubling farmer’s incomes

Explanation- Agriculture Ministry has recently released a blueprint having 7-point strategy to achieve the vision of doubling farmer’s income by 2022. A Committee on Doubling Farmers’ Income headed by Ashok Dalwai also gave certain suggestion in the 4 out of 12 reports released earlier. Suggestions by Ashok Dalwai committee-

•  In additional investment of Rs 6.39 lakh crore is required from both public and private sectors to double farmer income.
• There is need of developing financial & other infrastructure in less developed states of eastern region which lags in private investment.
• Stepping up institutional credit on large scale as they are fulfilling only 50-60% investment requirements of farmers.
• There is need to enhance public investments in agricultural R&D, irrigation, energy & education in agriculturally less developed states as marginal returns in terms of income here are relatively higher.
• Focus on ‘demand-driven fork-to-farm approach’, diversification towards high value crops etc.
• Focus on exports with an aim to raise agricultural export to reach $100 billion by 2022-23 and going beyond cereals and meat which constitutes bulk of our exports at present.

Correct Answer – D. Churning Poor

Explanation-Churning Poor are those who regularly move in and out of the poverty line. It is a sub-classification of Transient Poor. Transient Poor includes the people who keep on floating on the poverty. If these people get the employment, they will move above the poverty line.Example- Seasonal workers. Poverty is not having enough material possessions or income for a person’s needs. Poverty is a multifaceted concept, which may include social, economic, and political elements. Absolute poverty is the complete lack of the means necessary to meet basic personal needs, such as food, clothing and shelter.

Correct Answer: D. To improve the whole education system

Explanation-The NPE emphasizes on universal access and enrolment, universal retention of children up to 14 years of age, and a substantial improvement in the quality of education to enable all children to achieve.

Correct Answer – B. 2023

Explanation- Food and Agriculture Organisation (FAO) has announced 2023 as the International Year of Millets. Millet is a collective term referring to various small-seeded annual grasses that are cultivated as grain crops, primarily on marginal lands in dry areas in temperate, subtropical and tropical regions.

Correct Answer – A. Energy Transition Index

Explanation-International Energy Agency (IEA) works with countries around the world to shape energy policies for a secure and sustainable future. Here are the reports and index that are released by IEA:

• India Energy Outlook 2021

• Global Energy & CO2 Status Report.

• World Energy Outlook.

• World Energy Statistics.

• World Energy Balances.

• Energy Technology Perspectives.

Correct Answer – C. 1 and 2

Explanation- Shanghai Cooperation Organisation (SCO) is a permanent intergovernmental international organisation.

• It’s creation was announced on 15 June 2001 in Shanghai (China).
•  SCO strengthens mutual trust and neighbourliness among the member states.
• SCO comprises eight member states (India, Kazakhstan, China, Kyrgyz Republic, Pakistan, Russia, Tajikistan, Uzbekistan), ● four observer states and six dialogue partners.

Correct Answer – A. NITI Aayog

Explanation-National Institution for Transforming India (NITI) Aayog released the first edition of the School Education Quality Index (SEQI). SEQI has been developed by NITI Aayog to evaluate the performance of States and Union Territories (UTs) in the school education sector.

Correct Answer – B. It offers rupee denominated masala bonds.

Explanation-International Finance Corporation IFC—a sister organization of the World Bank and member of the World Bank Group is the largest global development institution focused exclusively on the private sector in developing countries. It was established in 1956, as the private-sector arm of the World Bank Group, to advance economic development by investing in for-profit and commercial projects for poverty reduction and promoting development. The IFC’s stated aim is to create opportunities for people to escape poverty and achieve better living standards by mobilizing financial resources for private enterprise, promoting accessible and competitive markets, supporting businesses and other private-sector entities, and creating jobs and delivering necessary services to those who are poverty stricken or otherwise vulnerable. Whereas the International Development Association (IDA) helps the world‘s poorest countries by providing loans and grants for programs that boost economic growth, reduce inequalities, and improve people‘s living conditions. It is the part of the World Bank.

IFC issued 2 billion rupees—or nearly $30 million—in 15-year Masala bonds in March, marking the longest-dated offshore rupee bond to be issued. The issuance was listed on the London Stock Exchange and proceeds of the bonds will be used to advance private sector development in India. IFC‘s Masala Bond program has played an important role in deepening India‘s capital markets, prompting the Reserve Bank of India to authorize Indian companies to issue similar bonds in offshore markets. Under the Masala bond program, IFC has issued bonds worth almost 110 billion rupees, including the first green Masala bond to support climate-smart investment in India. Fourteen private sector development projects in India have received Masala-bond financing so far.

Correct Answer – A. Only Central Banks can be its members.

Explanation- The Basel Committee on Banking Supervision (BCBS) is the primary global standard setter for the prudential regulation of banks and provides a forum for cooperation on banking supervisory matters. Its mandate is to strengthen the regulation, supervision and practices of banks worldwide with the purpose of enhancing financial stability. The Basel Committee comprises 45 members from 28 jurisdictions, consisting of central banks and authorities with formal responsibility for the supervision of banking business. Additionally, the Committee has nine observers including central banks, supervisory groups, international organisations and other bodies.

 The BCBS has developed a series of highly influential policy recommendations known as the Basel Accords. These are not binding on member countries, and must be adopted by national policymakers in order to be enforced.