FC-for-IAS-Prelims-2018-Eco-Day-47
70 Days WAR Plan

Day#47 Static Flash Cards Revision [70 Days WAR Plan]

Zero Hunger Program; Private Entrepreneur Guarantee (PEG) Scheme; Seed Village; Midday Meal Scheme; Common Property Land Resources (CPLR); Sources of Human Capital; Asian Infrastructure and Investment Bank (AIIB); Shell companies; Fiscal Deficit; Agricultural Income;
By IT's Core Team
May 07, 2019

 

 

 

What do you know about the Zero Hunger Program?

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Answer & Enrich Your Learning:

Zero Hunger Program

  • The Programme will be initiated by Indian Council of Agricultural Research (ICAR) in association with Indian Council of Medical Research (ICMR), MS Swaminathan Research Foundation and Biotechnology Industry Research Assistance Council (BIRAC).
  • The concerned state governments will also be involved in the programme which consists of organisations of farming system for nutrition, setting up genetic gardens for biofortified plants/crops and initiation of a ‘Zero Hunger’ training.
  • The programme will ensure suitable methods of measuring the impact of intervention. There will be intensive training programme in order to identify the nutritional maladies in each district and the appropriate agricultural/horticultural and animal husbandry remedies.
  • This programme will be launched in addition to what the government has planned to deal with the issue of malnutrition through various other initiatives under its goal to make India malnutrition free by 2022.

What is SDG Goal 2?

  • The second of the seventeen proposed SDGs is “End hunger, achieve food security and improved nutrition, and promote sustainable agriculture”.

SDG Goal 2

 

 

 

Is purchase of standing crop an agricultural income or not?

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Answer:

  • No, purchase of standing crop is a non-agricultural income.

Enrich Your Learning:

About Agricultural Income:

  • The income earned from agricultural land is exempt from taxes under Section 10(1) of the Income Tax Act 1961. Agricultural income in India is categorized as a valid source and essentially incorporates income from sources that include farming area, structures on or identified with a rural land and business deliver from a horticultural land.

Agricultural Income includes:

  • Any rent received from land which is used for agricultural purposes.
  • Agricultural operations which mainly include processing of farm produce which is then sold in the market as agricultural produce.
  • Income obtained from a farmhouse which is in proximity to the land you own. and which may be used as a storehouse or a dwelling unit.
  • It is very necessary that land exists and it is used for agricultural operations. Agricultural operations means the seeds should be planted and effort made to sprout seeds from the land and cultivate the land.
  • Let us consider that you receive rental income from your land..It is very necessary that agricultural activities are carried out on this land. Only then can you state that rental income obtained from your land is agricultural income.
  • The income obtained from sale of replanted trees and growing flowers and creepers
  • Income obtained from the sale of seeds.
  • The profits received from your partner who is engaged in agricultural produce or activities.
  • Income earned from nursery operations such as selling of plants and flowers.

Non- Agriculture Income includes:

  1. Revenue from the sale of processed products of agricultural nature without actual agricultural activity.
  2. Revenue from extremely processed products.
  3. Revenue from trees that have been sold as timber.
  4. Income from poultry farming.
  5. Income from bee hiving.
  6. Income from sale of spontaneously grown trees.
  7. Income from dairy farming.
  8. Purchase of standing crop.
  9. Dividend paid by a company out of its agriculture income.

 

 

 

Would it be positive or negative if borrowings are used for investment in growth and buying capital goods in economy?

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Answer:

  • Fiscal deficit shows borrowings of the country. If borrowings are used for investment in growth and buying capital goods in economy than it will turn out to be positive. But if it is used to repay previous debts or pay salaries than it is a negative indication.

Enrich Your Learning:

About Fiscal Deficit:

  • A fiscal deficit occurs when a government’s total expenditures exceed the revenue that it generates, excluding money from borrowings. Deficit differs from debt, which is an accumulation of yearly deficits.
  • A fiscal deficit is regarded by some as a positive economic event. For example, economist John Maynard Keynes believed that deficits help countries climb out of economic recession. On the other hand, fiscal conservatives feel that governments should avoid deficits in favor of a balanced budget policy.
  • The government also revised the deficit target for the year ending in March 2018 to 3.5% of GDP from the targeted 3.2%.

 

 

 

What are Shell companies all about?

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Answer:

  • A shell company is a company that exists only on paper and has no office and no employees, but may have a bank account or may hold passive investments or be the registered owner of assets, such as intellectual property, or ships.

Enrich Your Learning:

  • Shell corporations are legitimate, legal entities that do not possess actual assets or run business operations.
  • They function as transactional vehicles for a variety of firms and for a myriad of purposes.
  • Generally, they are used to obtain financing, maintain control over a conglomerate company, allow firms more favorable tax treatment, and occasionally facilitate money laundering as well as other illegal activities.
  • There is no clear definition of what shell company is in the Companies Act, or any other Act. But typically shell companies include multiple layers of companies that have been created for the purpose of diverting money or for money laundering.
  • Most shell companies do not manufacture any product or deal in any product or render any service. They are mostly used to make financial transactions. Generally, these companies hold assets only on paper and not in reality. These companies conduct almost no economic activity.

 

 

 

For infrastructural development of Asia-Pacific region, Japan is one of the major economy members of Asian Infrastructure and Investment Bank. Right OR Wrong?

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Answer:

  • Wrong.

Right Statement:

  • Major economies that are not members of Asian Infrastructure and Investment Bank include Japan, Mexico, Nigeria, and the United States.

Enrich Your Learning:

Asian Infrastructure and Investment Bank (AIIB)

  • The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank that aims to support the building of infrastructure in the Asia-Pacific region. The bank currently has 64 member states while another 22 are prospective members for a total of 86 approved members and was proposed as an initiative by the government of China.
  • The bank started operation after the agreement entered into force on 25 December 2015, after ratifications were received from 10 member states holding a total number of 50% of the initial subscriptions of the Authorized Capital Stock
  • The capital of the bank is $100 billion, equivalent to 2⁄3 of the capital of the Asian Development Bank and about half that of the World Bank.

Financing Operations

  • According to the Articles of Agreement (AOA) of AIIB, the Bank will “provide or facilitate financing to any member, or any agency, instrumentality or political subdivision thereof, or any entity or enterprise operating in the territory of a member, as well as to international or regional agencies or entities concerned with economic development of the Asia region.”
  • Furthermore, the AOA permits the Bank to provide financing in a variety of ways, including, inter alia, making loans, investing in the equity capital of an enterprise, and guaranteeing, whether as primary or secondary obligor, in whole or in part, loans for economic development. In addition, the Bank may underwrite, or participate in the underwriting of, securities issued by any entity or enterprise for purposes consistent with its purpose.

 

 

 

Other than education which are the other sources of human capital formation?

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Answer:

  • Investment in education is considered as one of the main sources of human capital. There are several other sources as well. Investments in health, on- the job training, migration and information are the other sources of human capital formation.

Enrich Your Learning:

About Sources of Human Capital:

  • Spending on education by individuals is similar to spending on capital goods by companies with the objective of increasing future profits over a period of time. Likewise, individuals invest in education with the objective of increasing their future income.
  • Like education, health is also considered as an important input for the development of a nation as much as it is important for the development of an individual.
  • A sick labourer without access to medical facilities is compelled to abstain from work and there is loss of productivity. Hence, expenditure on health is an important source of human capital formation.
  • Preventive medicine (vaccination), curative medicine (medical intervention during illness), social medicine (spread of health literacy) and provision of clean drinking water and good sanitation are the various forms of health expenditures. Health expenditure directly increases the supply of healthy labour force and is, thus, a source of human capital formation.

 

 

 

What is Common Property Land Resources all about?

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Answer & Enrich Your Learning:

About Common Property Land Resources (CPLR):

  • These are the resources which are accessible to and collectively ownedheldmanaged by an identifiable community and on which no individual has exclusive property rights are called common property resources.
  • Common property land resources, as per this approach, include the categories of land like community pasture and grazing grounds, village forests and woodlots and village sites, on which the villagers have legal usufructuary rights. These also include all other land formally held by the panchayat or a community of the village.
  • There is 15% Percentage of Common Property Land Resources in total geographical area of the country.

 

 

 

What is the main objective of the Midday Meal Scheme?

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Answer:

  • The main objective of the Midday Meal Scheme is to provide hot cooked meal to children of primary and upper primary classes.

Enrich Your Learning:

About the Midday Meal Scheme:

  • The Midday Meal Scheme is a school meal programme of the Government of India designed to improve the nutritional status of school-age children nationwide.
  • The objective of the scheme is to provide hot cooked meal to children of primary and upper primary classes.
  • The programme supplies free lunches on working days for children in primary and upper primary classes in government, government aided, local body, Education Guarantee Scheme, and alternate innovative education centres, Madarsa and Maqtabs supported under Sarva Shiksha Abhiyan, and National Child Labour Project schools run by the ministry of labour.
  • Every child is eligible for 100 gms foodgrains at primary stage and 150 gms at upper primary stage on each working day.
  • Under the Convention on the Rights of the Child, to which India is a party, India has committed to providing “adequate nutritious foods” for children. The programme has undergone many changes since its launch in 1995. The Midday Meal Scheme is covered by the National Food Security Act, 2013.
  • The central and state governments share the cost of the Midday Meal Scheme, with the centre providing 60 percent and the states 40 percent. The central government provides grains and financing for other food. Costs for facilities, transportation, and labour is shared by the federal and state governments.
  • Tamil Nadu is a pioneer in introducing mid-day meal programmes in India to increase the number of kids coming to school; Thiru K. Kamaraj, then Chief Minister of Tamil Nadu, introduced it first in Chennai and later extended it to all districts of Tamil Nadu.
  • A midday meal scheme was introduced in Kerala in 1984, and was gradually expanded to include more schools and grades. By 1990–91, twelve states were funding the scheme to all or most of the students in their area: Goa, Gujarat, Kerala, Madhya Pradesh, Maharashtra, Meghalaya, Mizoram, Nagaland, Sikkim, Tamil Nadu, Tripura and Uttar Pradesh. Karnataka, Orissa, and West Bengal received international aid to help with implementation of the programme, and in Andhra Pradesh and Rajasthan the programme was funded entirely using foreign aid.

 

 

 

What is seed village a concept all about?

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Answer & Enrich Your Learning:

About Seed Village:

  • A village, wherein trained group of fanners are involved in production ‘of seeds of various crops and cater to the needs of themselves, fellow fanners of the village and fanners of neighbouring villages in appropriate time and at affordable cost is called “a seed village”.

Concept

  1. Organizing seed production in cluster (or) compact area
  2. Replacing existing local varieties with new high yielding varieties.
  3. Increasing the seed production
  4. To meet the local demand, timely supply and reasonable cost
  5. Self-sufficiency and self-reliance of the village
  6. Increasing the seed replacement rate

Features

  1. Seed is available at the door steps of farms at an appropriate time
  2. Seed availability at affordable cost even lesser than market price                 
  3. Increased confidence among the farmers about the quality because of known source of production
  4. Producer and consumer are mutually benefited
  5. Facilitates fast spread of new cultivars of different kinds

 

 

 

What is the purpose of Private Entrepreneur Guarantee (PEG) Scheme?

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Answer & Enrich Your Learning:

  • Private Entrepreneur Guarantee (PEG) Scheme is implemented In order to create more storage capacity for foodgrains.

About Private Entrepreneur Guarantee (PEG) Scheme:

  • In order to create more storage capacity for foodgrains, Private Entrepreneur Guarantee (PEG) Scheme has been implemented in the country.
  • Storage capacity is being created under this Scheme in Public Private Partnership (PPP) mode through private parties, as well as agencies in Public Sector like Central Warehousing Corporation (CWC) / State Warehousing Corporations (SWCs) for guaranteed hiring by FCI.
  • Guarantee period for private parties is 10 years whereas for Public Sector agencies it is 9 years. In case of private parties, state wise tenders are invited by designated nodal agency under a 2 bid system. An individual, partnership firm, company or a trust can apply under the Scheme.
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