The Kisan Credit Card scheme provides farmers with: MCQ with Answer and Explanation

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The Kisan Credit Card scheme provides farmers with:

A. short-term and long-term credit facilities for agricultural needs

B. subsidized fertilizers only

C. free land

D. crop insurance only

Answer: Option A

Solution (By JKSSB Mock Tests)

The Kisan Credit Card provides farmers with timely credit for cultivation and other agricultural needs.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Gross Domestic Product' of India is estimated by which method?

A. Only expenditure method

B. Only production method

C. Output/value added and expenditure methods

D. Only income method

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Correct Answer: Option C

Explanation:
India's GDP is estimated using the output/value added and expenditure approaches.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is the primary objective of the Fiscal Responsibility and Budget Management (FRBM) Act in India?

A. To ensure inter-generational equity and fiscal sustainability

B. To increase fiscal deficit indefinitely

C. To promote deficit financing through money creation

D. To eliminate all forms of taxation

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Correct Answer: Option A

Explanation:
The FRBM Act aims to ensure fiscal discipline, inter-generational equity in fiscal management and long-term macroeconomic stability by setting targets for deficit reduction.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is a characteristic of the 'Risk-Sharing' benefits of international financial integration?

A. Countries can smooth consumption in the face of idiosyncratic shocks by trading claims on future output

B. Risk-sharing is irrelevant for welfare

C. Only closed economies can smooth consumption

D. Integration always increases consumption volatility

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Correct Answer: Option A

Explanation:
International risk-sharing allows countries to diversify away country-specific income shocks by holding foreign assets, thereby reducing the volatility of national consumption relative to national output.

This question belongs to: Economy GK Economy Set 1

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