Economic & Social Issues (ESI) Questions For RBI Grade B Phase II 2023 | Set-21

Correct Answer – B. Sugamya Bharat Abhiyan
Explanation- Accessible India Campaign or (Sugamya Bharat Abhiyan) is the nationwide flagship campaign of the Department of Empowerment of Persons with Disabilities (DEPwD), Ministry of Social Justice and Empowerment. The aim of the Campaign is to make a barrier free and conducive environment for Divyangjans all over the country. The campaign has been divided into three verticals: Built Environment; Transport and Information & Communication Technology (ICT) ecosystem. It is in line with the UN Convention on the Rights of Persons with Disabilities (UNCRPD) to which India is a signatory.

Correct Answer – A. Unemployment trap
Explanation: Unemployment trap: is a situation when unemployment benefits discourage the unemployed to go to work. People find the opportunity cost of going to work too high when one can simply enjoy the benefits by doing nothing. Vulnerable employment: is defined as the sum of the employment status groups of own- account workers and contributing family workers. It is characterized by inadequate earnings, low productivity and difficult conditions of work that undermine workers Structural Unemployment: is a type of unemployment caused by the discrepancy between the skills possessed by the unemployed population and the jobs available in the market.

Correct Answer – B. 12 weeks
Explanation- The Maternity Benefit (Amendment) Act, 2017increases some of the key benefits. The amended law provides women in the organized sector with paid maternity leave of 26 weeks, up from 12 weeks, for the first two children. For the third child, the maternity leave entitled will be 12 weeks. India now has the third most maternity leave in the world, following Canada (50weeks) and Norway (44 weeks).
The Act also secures 12 weeks of maternity leave for mothers adopting a child below the age of three months as well as to commissioning mothers (biological mothers) who opt for surrogacy. The 12-week period in these cases will be calculated from the date the child is handed over to the adoptive or commissioning mother.

Correct Answer: B. 2 only
Explanation: Recently, the Tax Inspectors Without Borders (TIWB), a joint initiative of the United Nations Development Programme (UNDP) and the Organisation for Economic Cooperation and Development (OECD), launched its programme in Bhutan. Hence, statement 1 & 3 are not correct. India was chosen as the Partner Jurisdiction and has provided the Tax Expert for this programme.
• This programme is expected to be of about 24 months’ duration.
• It aims to aid Bhutan in strengthening its tax administration by transferring technical know-how and skills to its tax auditors, and through sharing of best audit practices. The focus of the programme will be in the area of International Taxation and Transfer Pricing. Hence, statement 2 is correct.
• This programme is another milestone in the continued cooperation between India and Bhutan and India’s continued and active support for South-South cooperation.

Correct Answer – B. Six
Explanation- The banking sector reforms started immediately after the independence. In a major process of nationalization, seven subsidiaries of the State Bank of India were nationalized via the State Bank of India (Subsidiary Banks) Act, 1959. In 1969, fourteen major private commercial banks were nationalized followed by a second phase of nationalization in 1980, when Government of India acquired the ownership of 6 more banks, thus bringing the total number of Nationalised Banks to 20.

Correct Answer – A. Importing of goods which are in short supply
Explanation- As a cost side measure, governments may try to cool down the price by cutting down the production cost of goods showing price rise with the help of tax breaks- cuts in the excise and custom duties. This helps as a short-term measure. As a supply side measure, the government may go for import of goods which are in short supply- as a short-term measure. As a long-term measure, governments go on to increase the production to matching the level of demand. Storage, transportation, distribution, hoarding are the other aspects of price management of this category.

Correct Answer: D. 50%
Explanation: The Union Cabinet has recently approved the National Education Policy 2020. It has introduced several major reforms in higher education. As per the policy, a target of 50 per cent Gross Enrolment Ratio (GER) by 2035 has been fixed. It also provides academic, administrative and financial autonomy for institutions and proposes a single regulator for all higher education.

Correct Answer – D. World Bank
Explanation- World bank released World Development Report titled “Trading for Development in the Age of Global Value Chains”. The global value chains today account for nearly 50 per cent of trade worldwide.

Correct Answer: B. 1 only
Explanation: International Renewable Energy Agency is an intergovernmental organisation, it was officially founded in Bonn, Germany, in January 2009.
• Currently it has 164 members, India is the 77th Founding Member of IRENA. Hence, statement 3 is not correct.
• It has its headquarters in Abu Dhabi, United Arab Emirates.
• It supports countries in their transition to a sustainable energy future, and serves as the principal platform for international cooperation, a centre of excellence, and a repository of policy, technology, resource and financial knowledge on renewable energy. Hence, statement 1 is correct.
• It promotes the widespread adoption and sustainable use of all forms of renewable energy, including bioenergy, geothermal, hydropower, ocean, solar and wind energy in the pursuit of sustainable development, energy access, energy security and low-carbon economic growth and prosperity. Hence, statement 2 is not correct.

Correct Answer: B. Commission for Agricultural Costs and Prices (CACP)
Explanation- Minimum Support Price (MSP) is a form of market intervention by the Government of India to insure agricultural producers against any sharp fall in farm prices. The minimum support prices are announced by the Government of India at the beginning of the sowing season for certain crops on the basis of the recommendations of the Commission for Agricultural Costs and Prices (CACP). MSP is price fixed by Government of India to protect the producer – farmers – against excessive fall in price during bumper production years. The minimum support prices are a guarantee price for their produce from the Government. The major objectives are to support the farmers from distress sales and to procure food grains for public distribution. In case the market price for the commodity falls below the announced minimum price due to bumper production and glut in the market, government agencies purchase the entire quantity offered by the farmers at the announced minimum price.