Ans: B

Exp:

Statement 1 is correct: In 2018, AIIB was granted Permanent Observer status in the deliberations of both the United Nations General Assembly and the Economic and Social Council, the two development-focused principal organs of the global body. The Asian Infrastructure Investment Bank (AIIB) was officially launched in 2014 by China with 21 Asian nations as the founding members. AIIB has 105 members.

Statement 2 is incorrect: The USA, Japan and Canada have not joined it rather the experts suggested them to support it especially when the existing mechanism (the World Bank and Asian Development Bank) is not able to cater to the infrastructural needs of the continent. China is the AIIB’s largest shareholder with a 26.5% voting share. India is the second-largest, with 7.5%, followed by Russia, which has a 5.97% voting share.

Statement 3 is correct: AIIB operations began in January 2016. Since then, it has financed 221 projects worth $42 billion, according to its website. India is by far the largest borrower as of November 2022. 

Reference: Ramesh Singh 12thEdition Chapter No 16, http://www.hindustantimes.com

Ans: D

Exp:

The Global Financial Stability Report, published by International Monetary Fund (IMF) provides an assessment of the global financial system and markets, and addresses emerging market financing in a global context. It focuses on current market conditions, highlighting systemic issues that could pose a risk to financial stability and sustained market access by emerging market borrowers. The Report draws out the financial ramifications of economic imbalances highlighted by the IMF’s World Economic Outlook. It contains, as special features, analytical chapters or essays on structural or systemic issues relevant to international financial stability. 

Reference: http://www.imf.org

Ans: B

Exp:

Statement 1 is correct: The Pradhan Mantri Kisan Samman Nidhi (PM-KISAN), a Central Sector Scheme, aims at providing financial assistance to all cultivable landholding farmer families across the country, subject to certain exclusion criteria. 

Statement 2 is correct: Under the Scheme, an amount of Rs. 6000/- is transferred annually in three equal installments of Rs.2000/- directly into the Aadhaar Seeded bank accounts of the farmers.. The PM-KISAN, a Central Sector Scheme was launched in Feb. 2019. 

Statement 3 is incorrect: The state of West Bengal joined the Scheme from 8th installment (April-July, 2021) as initially, the State desired that the funds under PM-KISAN Scheme be transferred to the State Government for onward disbursement to the farmers through the State Government 

Reference: pib.gov.in

Ans: D

Exp: Pradhan Mantri Fasal Bima Yojana (PMFBY) aims at providing financial support to farmers suffering crop loss/damage arising out of natural calamities like hailstorm, drought, floods, cyclones, heavy and unseasonal rains, attack of disease and pests etc. 

Option (a) is correct: The scheme envisages to cover maximum number of farmers in the ambit of crop insurance by providing comprehensive risk coverage from pre-sowing to post-harvest losses.

Option (b) is correct: The scheme offers very low premium rates for farmers to participate in the scheme. A uniform maximum premium of only 2 per cent, 1.5 per cent and 5 per cent to be paid by farmers for all Kharif crops, Rabi Crops and Commercial/ horticultural crops respectively. Premium over and above these limits is shared by the Central and State Governments on 50:50 basis, except in the North-Eastern Region where it is 90:10.

Option (c) is correct : Pradhan Mantri Fasal Bima Yojana (PMFBY) aims at supporting sustainable production in agriculture sector by way of :

• providing financial support to farmers suffering crop loss/damage arising out of unforeseen events 
• stabilizing the income of farmers to ensure their continuance in farming 
• encouraging farmers to adopt innovative and modern agricultural practices 
• ensuring flow of credit to the agriculture sector

Option (d) is incorrect:  PMFBY has been implemented in 27 States and Union Territories only.  Thus, It is not implemented uniformly across the country.

Reference: static.pib.gov.in 

Ans: D

Exp:

The Union Budget, 2018-19, has proposed to treat school education holistically without segmentation from pre-nursery to Class 12. Samagra Shiksha – an overarching programme for the school education sector extending from pre-school to class 12 has been, therefore, prepared with the broader goal of improving school effectiveness measured in terms of equal opportunities for schooling and equitable learning outcomes. It subsumes the three erstwhile Schemes of 

• Sarva Shiksha Abhiyan (SSA), 
• Rashtriya Madhyamik Shiksha Abhiyan (RMSA) and 
• Teacher Education (TE).

The scheme envisages the ‘school’ as a continuum from pre-school, primary, upper primary, secondary to Senior Secondary levels. The vision of the Scheme is to ensure inclusive and equitable quality education from pre-school to senior secondary stage in accordance with the Sustainable Development Goal (SDG) for Education.

The major objectives of the Scheme are

• Provision of quality education and enhancing learning outcomes of students; Bridging Social and Gender Gaps in School Education;
• Ensuring equity and inclusion at all levels of school education;
• Ensuring minimum standards in schooling provisions;
• Promoting Vocationalisation of education;
•  Support States in the implementation of Right of Children to Free and Compulsory Education (RTE) Act, 2009;
• Strengthening and up-gradation of SCERTs/State Institutes of Education and DIET as a nodal agencies for teacher training.

Reference: samagra.education.gov.in