CDS Indian Economy 3

Question 1

The Pradhan Mantri Jan Dhan Yojana (PMJDY) was launched primarily to achieve:

Accepted Answer

Financial inclusion for all households

Answer

PMJDY was launched in August 2014 to ensure access to financial services like banking, insurance, and pension for all households, achieving financial inclusion.

Question 2

Which institution is known as the 'lender of last resort' in India?

Accepted Answer

Reserve Bank of India

Answer

The Reserve Bank of India acts as the lender of last resort, providing liquidity to banks facing financial stress to prevent systemic collapse.

Question 3

India's economic liberalisation reforms were initiated in which year?

Accepted Answer

1991

Answer

India's landmark economic liberalisation, privatisation, and globalisation (LPG) reforms were initiated in 1991 under Finance Minister Manmohan Singh to address a severe balance of payments crisis.

Question 4

The National Rural Employment Guarantee Act (NREGA) guarantees how many days of wage employment per year to rural households?

Accepted Answer

100 days

Answer

NREGA (now MGNREGA) guarantees 100 days of wage employment per financial year to every rural household whose adult members volunteer to do unskilled manual work.

Question 5

What is the meaning of 'Fiscal Deficit'?

Accepted Answer

Difference between total revenue and total expenditure of the government excluding borrowings

Answer

Fiscal deficit is the difference between the government's total expenditure and its total receipts excluding borrowings, indicating the extent of government borrowing.

CDS - Combined Defence Services

CDS - Combined Defence Services

CDS Indian Economy 3