Pradhan Mantri Fasal Bima Yojana provides: MCQ with Answer and Explanation

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Pradhan Mantri Fasal Bima Yojana provides:

A. fertilizer subsidy only

B. crop insurance against crop loss

C. minimum support price for crops

D. free electricity to farmers

Answer: Option B

Solution (By JKSSB Mock Tests)

PMFBY provides comprehensive crop insurance against crop loss due to natural calamities, pests and diseases.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

In the context of the Indian economy, the 'Demographic Dividend' refers to:

A. Economic growth potential from a large working-age population

B. Increase in the proportion of dependent population

C. Decline in the total population

D. Increase in the old-age population only

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Correct Answer: Option A

Explanation:
Demographic dividend arises when a large share of the population is of working age, providing an opportunity for higher economic growth if this workforce is productively employed.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' on ice cream is:

A. 5%

B. 12%

C. 28%

D. 18%

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Correct Answer: Option D

Explanation:
Ice cream attracts 18% GST.

This question belongs to: Economy GK Economy Set 1

Question #3

The Multidimensional Poverty Index used by NITI Aayog includes which dimensions?

A. Income and wealth

B. Employment and wages

C. Health, education and standard of living

D. Agriculture and industry

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Correct Answer: Option C

Explanation:
The MPI has three dimensions: health, education and standard of living.

This question belongs to: Economy GK Economy Set 1

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