Which of the above given statement(s) is/are correct?
Anonymous Quiz
4%
A. 1 only
66%
B. 2 only
28%
C. Both 1 and 2
2%
D. Neither 1 nor 2
Answer: B
Explanation
● Under the Pradhan Mantri Vanbandhu Vikas Yojana, a venture capital fund has been set up to
promote entrepreneurship/start-up projects by ST youth. Hence statement 2 is correct.
○ TRIFED (Tribal Cooperative Marketing Development Federation of India) supports retail
marketing for livelihood development among tribal communities of India.
● Under the scheme "Mechanism for Marketing of Minor Forest Produce (MFP) through
Minimum Support Price and development of Value chain for MFP" Minimum Support Price
(MSP) for Minor Forest Produce (MFP) has been fixed for select MFP. Hence statement 1 is
incorrect.
○ Minimum Support Price (MSP) is ensured for Minor Forest Produce, and marketing
support for tribal products is provided through the Pradhan Mantri Jan Jatiya Vikas
Mission.
Explanation
● Under the Pradhan Mantri Vanbandhu Vikas Yojana, a venture capital fund has been set up to
promote entrepreneurship/start-up projects by ST youth. Hence statement 2 is correct.
○ TRIFED (Tribal Cooperative Marketing Development Federation of India) supports retail
marketing for livelihood development among tribal communities of India.
● Under the scheme "Mechanism for Marketing of Minor Forest Produce (MFP) through
Minimum Support Price and development of Value chain for MFP" Minimum Support Price
(MSP) for Minor Forest Produce (MFP) has been fixed for select MFP. Hence statement 1 is
incorrect.
○ Minimum Support Price (MSP) is ensured for Minor Forest Produce, and marketing
support for tribal products is provided through the Pradhan Mantri Jan Jatiya Vikas
Mission.
4. Consider the following statements about the Foreign Trade Policy 2023.
1) Remission and entitlement-based regimes have been adopted for export promotion.
2) The dairy sector is mandated to maintain average export obligations.
3) The special advance authorization scheme has been completely stopped.
1) Remission and entitlement-based regimes have been adopted for export promotion.
2) The dairy sector is mandated to maintain average export obligations.
3) The special advance authorization scheme has been completely stopped.
How many of the above given statement(s) is/are correct?
Anonymous Quiz
43%
A. Only one
39%
B. Only two
17%
C. All three
1%
D. None
Answer: A
Explanation
Key thrust areas
● It has four pillars. These are:
○ replacing the incentive-based system of promoting exports with remission and
entitlement-based regimes; Hence statement 1 is correct.
○ facilitating enhanced collaboration among exporters, states, districts and Indian
missions;
○ reducing transaction costs and introducing e-initiatives for ease in business
operations; and
○ developing additional export hubs.
What are the goals and targets?
● The government aims to increase India’s overall exports to $2 trillion by 2030, with equal
contributions from the merchandise and services sectors.
● The policy will prioritize enhancing the ease of doing business and targets emerging
sectors, such as e-commerce and export hubs.
● Under FTP 2023, the towns of Faridabad, Moradabad, Mirzapur, and Varanasi have been
newly designated as Towns of Export Excellence (TEE) for apparel, handicrafts, handmade
carpets and dari, and handloom and handicraft products, respectively. These additions expand
the TEE list to 43 towns.
● Also, the dairy sector will be exempted from maintaining average export obligations under
the new policy. Hence statement 2 is incorrect.
● Further, the special advance authorization scheme has been extended to apparel and
clothing. Under the Advance Authorization Scheme, inputs required for manufacturing
export products can be imported duty-free. Hence statement 3 is incorrect.
● The new FTP aims to boost the internationalization of trade in rupees by allowing
international trade settlement in India’s currency.
Explanation
Key thrust areas
● It has four pillars. These are:
○ replacing the incentive-based system of promoting exports with remission and
entitlement-based regimes; Hence statement 1 is correct.
○ facilitating enhanced collaboration among exporters, states, districts and Indian
missions;
○ reducing transaction costs and introducing e-initiatives for ease in business
operations; and
○ developing additional export hubs.
What are the goals and targets?
● The government aims to increase India’s overall exports to $2 trillion by 2030, with equal
contributions from the merchandise and services sectors.
● The policy will prioritize enhancing the ease of doing business and targets emerging
sectors, such as e-commerce and export hubs.
● Under FTP 2023, the towns of Faridabad, Moradabad, Mirzapur, and Varanasi have been
newly designated as Towns of Export Excellence (TEE) for apparel, handicrafts, handmade
carpets and dari, and handloom and handicraft products, respectively. These additions expand
the TEE list to 43 towns.
● Also, the dairy sector will be exempted from maintaining average export obligations under
the new policy. Hence statement 2 is incorrect.
● Further, the special advance authorization scheme has been extended to apparel and
clothing. Under the Advance Authorization Scheme, inputs required for manufacturing
export products can be imported duty-free. Hence statement 3 is incorrect.
● The new FTP aims to boost the internationalization of trade in rupees by allowing
international trade settlement in India’s currency.
5. Consider the following statements about Debt for climate swap.
1) Debt for climate swap can act as a debt restructuring device.
2) Debt for climate swap can help drive policy action to mitigate the effects of climate change.
3) Small Island Developing States (SIDS) can use debt-for-climate swaps to adapt to increasing
climate risk.
1) Debt for climate swap can act as a debt restructuring device.
2) Debt for climate swap can help drive policy action to mitigate the effects of climate change.
3) Small Island Developing States (SIDS) can use debt-for-climate swaps to adapt to increasing
climate risk.
How many of the above given statement(s) is/are correct?
Anonymous Quiz
4%
A. Only one
27%
B. Only two
66%
C. All three
3%
D. None
Answer: C
Explanation:
● Debt for climate swap was introduced as a debt restructuring device that aims to combat
climate change by ensuring that debt-ridden countries do not incur additional debt while
addressing climate change locally. Hence statement 1 is correct.
● They possess dual objectives: to promote specific investment and policy action on one hand
and promote debt relief on the other. Hence statement 2 is correct.
● The small island developing states (SIDS) can make use of debt-for-climate swaps, to address
challenges such as: adapting to increasing climate risk and recovering from financial distress.
Hence statement 3 is correct.
● For instance: In 2021, Belize, a country on the northeastern coast of Central America, reduced
its debt by 10 per cent of its GDP and acquired funds to protect the world’s second-largest coral
reef by striking a $553-million swap deal with The Nature Conservancy (TNC), a US-based
environmental organisation.
Explanation:
● Debt for climate swap was introduced as a debt restructuring device that aims to combat
climate change by ensuring that debt-ridden countries do not incur additional debt while
addressing climate change locally. Hence statement 1 is correct.
● They possess dual objectives: to promote specific investment and policy action on one hand
and promote debt relief on the other. Hence statement 2 is correct.
● The small island developing states (SIDS) can make use of debt-for-climate swaps, to address
challenges such as: adapting to increasing climate risk and recovering from financial distress.
Hence statement 3 is correct.
● For instance: In 2021, Belize, a country on the northeastern coast of Central America, reduced
its debt by 10 per cent of its GDP and acquired funds to protect the world’s second-largest coral
reef by striking a $553-million swap deal with The Nature Conservancy (TNC), a US-based
environmental organisation.
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1. With reference to State Development Loans (SDLs), consider the following statements.
1. They are dated securities issued by states for meeting their market borrowings
requirements.
2. SDLs issued by the State Governments qualify for Statutory Liquidity Ratio (SLR)
requirements.
3. Foreign Portfolio Investors (FPI) are not allowed to invest in SDLs.
1. They are dated securities issued by states for meeting their market borrowings
requirements.
2. SDLs issued by the State Governments qualify for Statutory Liquidity Ratio (SLR)
requirements.
3. Foreign Portfolio Investors (FPI) are not allowed to invest in SDLs.
Which of the statements given above is/are correct?
Anonymous Quiz
6%
A. 2 only
59%
B. 1 and 2 only
22%
C. 1 and 3 only
13%
D. 1, 2 and 3
Answer: B
Explanation:
● Statement 1 is correct: State Development Loans (SDLs) are dated securities issued by
states for meeting their market borrowings requirements.
● Statement 2 is correct: The SDL securities issued by states are credible collateral for
meeting the SLR requirements of banks.
● Statement 3 is incorrect: Foreign Portfolio Investors (FPI) are allowed to invest in SDLs.
The limits for FPI investment in SDLs is 2 per cent of outstanding stock of securities.
Explanation:
● Statement 1 is correct: State Development Loans (SDLs) are dated securities issued by
states for meeting their market borrowings requirements.
● Statement 2 is correct: The SDL securities issued by states are credible collateral for
meeting the SLR requirements of banks.
● Statement 3 is incorrect: Foreign Portfolio Investors (FPI) are allowed to invest in SDLs.
The limits for FPI investment in SDLs is 2 per cent of outstanding stock of securities.
2. Consider the following statements about cess.
1. If the cess collected in a particular year goes unspent, it can be allocated for other purposes.
2. Proceeds from cess are part of the divisible pool of taxes.
3. Cess can be levied on both indirect and direct taxes.
1. If the cess collected in a particular year goes unspent, it can be allocated for other purposes.
2. Proceeds from cess are part of the divisible pool of taxes.
3. Cess can be levied on both indirect and direct taxes.
How many of the statements given above are correct?
Anonymous Quiz
51%
A. Only one
36%
B. Only two
9%
C. All three
4%
D. None
Answer: A
Explanation:
● A cess is a tax that is levied by the government to raise funds for a specific purpose.
Collections from the Education Cess and Secondary and Higher Education Cess, for
instance, are supposed to be used for funding primary and higher and secondary
education respectively.
● Statement 1 is incorrect: While all taxes go to the Consolidated Fund of India (CFI), cess
may initially go to the CFI but has to be used for the purpose for which it was collected. If
the cess collected in a particular year goes unspent, it cannot be allocated for other
purposes. The amount gets carried over to the next year and can only be used for the cause
it was meant for.
● Statement 2 is incorrect: The Union government does not have to share cesses with
the states as they are not part of the divisible pool that needs to be shared with states.
● Statement 3 is correct: Cess can be levied on both indirect and direct taxes.
● It should be noted that state governments can impose cess if and only if it is approved by
the GST Council. For example, after Kerala floods in the year 2018, the state government
imposed a 1% calamity cess on GST and became the first state to do it.
Explanation:
● A cess is a tax that is levied by the government to raise funds for a specific purpose.
Collections from the Education Cess and Secondary and Higher Education Cess, for
instance, are supposed to be used for funding primary and higher and secondary
education respectively.
● Statement 1 is incorrect: While all taxes go to the Consolidated Fund of India (CFI), cess
may initially go to the CFI but has to be used for the purpose for which it was collected. If
the cess collected in a particular year goes unspent, it cannot be allocated for other
purposes. The amount gets carried over to the next year and can only be used for the cause
it was meant for.
● Statement 2 is incorrect: The Union government does not have to share cesses with
the states as they are not part of the divisible pool that needs to be shared with states.
● Statement 3 is correct: Cess can be levied on both indirect and direct taxes.
● It should be noted that state governments can impose cess if and only if it is approved by
the GST Council. For example, after Kerala floods in the year 2018, the state government
imposed a 1% calamity cess on GST and became the first state to do it.
3. The Government of India has launched the PM Vishwakarma scheme with the main
objective of
objective of