introduction to indian economy section 14 MCQ Questions & Answers Detailed Explanation

Answer: (d)

National Bank for Agriculture and Rural Development (NABARD) has been accredited with “matters concerning policy, planning and operations in the field of credit for agriculture and other economic activities in rural areas in India”.

It serves as an apex financing agency for the institutions providing investment and production credit for promoting the various developmental activities in rural areas.

Answer: (d)

Suppose three people work on the farm, produce 200 kg wheat. If one of them is removed, still farm produces 200 kg wheat.

That is disguised unemployment marginal productivity is zero.

Answer: (c)

India is a developing country. Its per capita income level is much low than compared of other developed countries.

The predominance of Agriculture: In India, almost 60-70% of the total population still resides in rural areas and hence they depend on agriculture for their livelihood.

Answer: (d)

The duration of the 12th Five Year Plan is 1 April 2012 to 31 March 2017.

The Eleventh Five Year Plan covered the period from 1 April 2007 to 31 March 2012.

Answer: (d)

The agricultural policy of the Government of India envisages substantial credit flow to increase agricultural production and productivity.

Banks provide term finance to farmers for development purposes and short term loans for production purposes. Besides, NABARD provides its refinance for the promotion of agriculture in India.