The 'Index of Industrial Production' in India uses which base year? MCQ with Answer and Explanation

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The 'Index of Industrial Production' in India uses which base year?

A. 2019-20

B. 2011-12

C. 2016-17

D. 2004-05

Answer: Option B

Solution (By JKSSB Mock Tests)

IIP uses base year 2011-12.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'Public Account of India' contains funds that:

A. are held by the government in a trustee capacity, such as provident funds

B. are borrowed from foreign countries

C. belong to the government exclusively

D. are collected as taxes

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Correct Answer: Option A

Explanation:
Public Account includes funds held by government in fiduciary capacity, like provident funds and small savings.

This question belongs to: Economy GK Economy Set 1

Question #2

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Which of the following is used to measure multidimensional poverty?

A. Lorenz curve

B. Gini coefficient

C. Multidimensional Poverty Index (MPI)

D. Headcount ratio based only on income

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Correct Answer: Option C

Explanation:
The Multidimensional Poverty Index, developed by UNDP and OPHI, captures deprivations in health, education and living standards beyond income poverty.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Pradhan Mantri Awaas Yojana - Gramin' aims to provide:

A. urban housing

B. pucca houses to rural poor

C. crop loans

D. skill training

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Correct Answer: Option B

Explanation:
PMAY-G provides pucca houses with basic amenities to rural poor households.

This question belongs to: Economy GK Economy Set 1

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