1.Consider the following statements regarding the Small Farmers Agribusiness Consortium:

1. It is a Non-Banking Financial Institution.

2. The governing board is headed by the Union Minister for Agriculture and Farmers Welfare.

3. This society is implementing the e-NAM scheme.

Which of the statements given above is/are correct?

(a) 2 and 3 only

(b) 1 and 2 only

(c) 1 and 3 only

(d) 1, 2 and 3

Answer (d)

Explanation :

• Small Farmers Agribusiness Consortium (SFAC) is an Autonomous Society promoted by Ministry of Agriculture, Cooperation and Farmers’ Welfare, Government of India. The Society is also registered as Non-Banking Financial Institution by Reserve Bank of India.

• The Society is governed by Board of Management which is chaired, ex-officio, by Hon’ble Union Minister for Agriculture and Farmers Welfare as the President and the Secretary, Department of Agriculture, Cooperation and Farmers Welfare, Government of India, is the ex-officio Vice-President.

The main functions of SFAC are:

(i) Promotion of development of small agribusiness through Venture Capital Assistance

scheme;

(ii) Helping formation and growth of Farmer Producer Organizations (FPOs) / Farmer

Producer Companies (FPCs);

(iii)Improving availability of working capital and development of business activities of

FPOs/FPCs through Equity Grant and Credit Guarantee Fund Scheme;

(iv)Implementation of National Agriculture Market (e-NAM) Electronic Trading platform.

2.Which one of the following best describes the term ‘Most Favoured Nation Status’, sometimes seen in the news?

(a) These are top business friendly nations in the ‘Doing Business Index’

(b) Nations that take part in the Global trade agreements

(c) Discriminatory treatment to trading partners under WTO

(d) None of the above

Answer (d) Explanation :

MOST-FAVOURED-NATION (MFN): Under the WTO agreements, countries cannot normally discriminate between their trading partners. Grant someone a special favour (such as a lower customs duty rate for one of their products) and you have to do the same for all other WTO members. This principle is known as most-favoured nation treatment.

3.Regarding Index of Industrial Production (IIP), which of the following statements is/are correct?

1. IIP measures the long term changes in the volume of production of a basket of industrial products during a given period with respect to base period.

2. The index is compiled and published by Central Statistical Organization.

3. The base year to measure the IIP has been revised to 2011-2012 from 2004- 2005.

4. The index gives 77% weightage for manufacturing sector.

Select the correct answer using the code given below.

(a) 1 and 2 only

(b) 1, 2 and 3

(c) 2, 3 and 4

(d) 1, 2, 3 and 4

Answer (c) Explanation

• The all India index of Industrial Production (IIP) is a composite indicator that measures the short-term changes (not the long term changes) in the volume of production of a basket of industrial products during a given period with respect to that in a chosen base period.

• It is compiled and published monthly by the Central Statistical Organization (CSO), Ministry of Statistics and Programme Implementation six weeks after the reference month ends.

• The Central Statistics Office (CSO) revised the base year of the all-India Index of Industrial Production (IIP) from 2004-05 to 2011-12 on 12 May 2017

4.In the context of World Trade Organisation, which of the following is/are correctly matched?

1. Mode 1 service : Cross border supply

2. Mode 2 service : Commercial presence

3. Mode 4 service : Presence of natural people

Select the correct answer using the codes given below.

(a) 1 only

(b) 2 and 3 only

(c) 1 and 3 only

(d) 1, 2 and 3

Answer (c) Explanation :

The General Agreement on Trade in Services (GATS) under WTO covers all internationally-traded services — for example, banking, telecommunications, tourism, professional services, etc. It also defines four ways (or “modes”) of trading services:

Mode 1: Services supplied from one country to another (e.g. international telephone calls), officially known as “cross-border supply”

Mode 2: consumers or firms making use of a service in another country (e.g. tourism), officially “consumption abroad”

Mode 3: a foreign company setting up subsidiaries or branches to provide services in another country (e.g. foreign banks setting up operations in a country), officially “commercial presence”

Mode 4: individuals travelling from their own country to supply services in another (e.g. fashion models or consultants), officially “presence of natural persons”

5. 15.Which of the following reports are prepared by World Economic Forum (WEF)?

1. Global Gender Gap Report

2. Global Human Capital Report

3. Inclusive Growth and Development Report

4. World Development Report

5. Global Risk Report

Select the correct answer using the code given below.

(a) 1, 2 and 5

(b) 2, 3 and 4

(c) 1, 2, 3 and 4

(d) 1, 2, 3 and 5

Answer (d) Explanation

World Economic Forum (WEF) prepares the following reports:

1. Global Gender Gap Report

2. Global Human Capital Report

3. Inclusive Growth and Development Report

4. Global Risk Report

5. Global Competitiveness Report

6. Travel and Tourism Competitiveness Report

World Development Report is prepared by World Bank