Economy and Development MCQ Quiz - Objective Question with Answer for Economy and Development - Download Free PDF

The correct answer is 3rd

Key Points

• Ranking: Andhra Pradesh has improved its position from 10th to 3rd in the Access (In) Equality Index (AEI) 2024.
• About AEI:
• The AEI is a multidimensional index created by the Centre for New Economics Studies (CNES). It measures household and individual inequality in terms of access to key opportunities like health, socio-economic resources, security, and legal services.
• Categories and Performance:
• Andhra Pradesh is ranked in the 'Front Runner' category, reflecting excellent access to various resources and opportunities.
• Top Rankings:
• 1st: Goa
• 2nd: Sikkim

The correct answer is  East Godavari

Key Points

• Forest Loss in Andhra Pradesh – GFW Report (2024)
• Primary Forest Loss: Andhra Pradesh lost 468 hectares of primary forest in 2024, up from 424 hectares in 2023.
• Regional Impact:
• East Godavari: Highest loss (16.4 thousand hectares), significantly above the state average of 3.26 thousand hectares. Together with another region, it accounted for 76% of total loss between 2001–2024.
• Tree Cover Gains (2000–2020):
• Total Gain in AP: 194 thousand hectares.
• National Contribution: 11% of India’s total tree cover gain.
• Rank: 2nd among Indian states (after Karnataka).

The correct answer is Badvel-Nellore Corridor

Key Points

• Key Highlights of the Badvel-Nellore Corridor:
• Length & Cost: The corridor will cover 108.134 kilometers and cost ₹3,653.10 crore.
• Route: It will start from Gopavaram Village on NH 67 in YSR Kadapa District and end at Krishnapatnam Port Junction on NH-16 in SPSR Nellore District.
• Strategic Connectivity: Key industrial nodes connected include Kopparthy on the Visakhapatnam-Chennai Industrial Corridor (VCIC), Orvakal on the Hyderabad-Bengaluru Industrial Corridor (HBIC), and Krishnapatnam on the Chennai-Bengaluru Industrial Corridor (CBIC).

The correct answer is Rs 2,70,295

Key Points

• In 2023-24, Andhra Pradesh’s per capita GSDP (at current prices) is estimated to be Rs 2,70,295, marking a 10% increase over 2022-23.
• In comparison, India’s estimated per capita GDP for 2023-24 is Rs 2,15,935, reflecting an 11% increase over the previous year.

The correct answer is 20,000

Key Points

• Agriculture:
• The financial relief during the fishing ban period will be increased from Rs 10,000 to Rs 20,000.
• Education:
• The Talliki Vandanam scheme will be implemented to provide annual financial assistance of Rs 15,000 to every school-going child from class 1 to class 12, starting from 2025-26. This scheme will cover children in both private and government schools. Additionally, free electricity will be provided to all government schools.
• Entrepreneurship:
• An innovation hub will be established in Amaravati to mentor start-ups in the region. This hub will be connected to five other zonal centres, each supporting local entrepreneurship initiatives.

The correct answer is generate wage employment for the needy rural labours.

Key Points

• Under the Wage Employment Programmes, the National Rural Employment Programme (NREP) and Rural Landless Employment Guarantee Programme (RLEGP) were started in Sixth and Seventh Plans.
• The NREP and RLEGP were merged in April 1989 under the Jawahar Rozgar Yojana (JRY).
• The JRY was meant to generate meaningful employment opportunities for the unemployed and underemployed in rural areas through the creation of economic infrastructure and community and social assets.

Additional Information

• The JRY was revamped from 1st April 1999 and came to be known as Jawahar Gram Samriddhi Yojana (JGSY).
• It now became a programme for the creation of rural economic infrastructure with employment generation as the secondary objective.

Key Points

• Andhra Pradesh has become the second state after Madhya Pradesh to undertake the power sector reforms stipulated by the Department of Expenditure, Ministry of Finance.
• As part of the reforms, the State has started Direct Benefit Transfer (DBT) of electricity subsidy to farmers.
• Thus, the State has successfully implemented one out of the three stipulated reforms in the power sector.
• As per the guidelines issued by the Department of Expenditure, the States undertaking reforms in the power sector are granted permission to raise additional financial resources of up to 0.25 per cent of the GSDP.
• This is linked to a set of 3 reforms in the sector:
  • ​0.05 % of GSDP for a reduction in Aggregate Technical & Commercial losses in the State as per prescribed targets.
  • Another, 0.05 % of GSDP is allowed for a reduction in the gap between the Average Cost of Supply and the Average Revenue Realisation (ACS-ARR gap) in the State as per prescribed targets.
  • Finally, 0.15 % of GSDP of the State on the introduction of Direct Benefit Transfer (DBT) to all farmers in the State in lieu of free/subsidized electricity. For this, the State government has to frame a scheme for the transfer of cash and implement the scheme.

Key Points

• Vijayanagaram district has the highest sex ratio in Andhra Pradesh (post bifurcation) according to the 2011 census.
• The sex ratio of Vijayanagaram district is 1031 females per 1000 males, which is higher than the state's average of 993 females per 1000 males.
• The district is known for its social development initiatives, which include better healthcare facilities for women.

Additional Information

• Srikakulam: Srikakulam district's sex ratio as per the 2011 census is 1012 females per 1000 males. 
• Krishna: Krishna district is one of the well-developed districts in Andhra Pradesh with a sex ratio of 992 females per 1000 males. 
• Visakhapatnam: Visakhapatnam district, famous for its industrial and port activities, has a sex ratio of 1003 females per 1000 males.

The correct answer is Andhra Pradesh.

Key Points

• Zero Budget Natural Farming (ZBNF) is being implemented by the Andhra Pradesh government through Rythu Sadhikara Samstha.
• It aims to promote sustainable and eco-friendly agricultural practices, reducing farmers' dependency on chemical fertilizers and pesticides.
• Andhra Pradesh is the first state in India to adopt ZBNF on a large scale, with a goal to transition 6 million farmers to natural farming by 2027.
• The initiative is supported by international organizations such as the United Nations Environment Programme (UNEP) and Sustainable India Finance Facility (SIFF).
• The state government provides training and support to farmers for implementing ZBNF practices, which include intercropping, mulching, and use of bio-fertilizers.

Additional Information

• Zero Budget Natural Farming (ZBNF):
  • ZBNF is a farming model that relies on natural processes and local inputs, eliminating the need for costly external inputs like chemical fertilizers and pesticides.
  • It includes practices like Jeevamrut (a bio-enhancer made from cow dung, cow urine, jaggery, and pulse flour) and Bijamrut (seed treatment using natural substances).
  • The technique reduces the cost of cultivation and ensures better soil health and environmental sustainability.
• Rythu Sadhikara Samstha:
  • A government agency in Andhra Pradesh established to implement farmer welfare programs and promote sustainable farming practices.
  • It plays a pivotal role in training and supporting farmers for ZBNF implementation.
• Impact of ZBNF:
  • Studies indicate increased crop yields, reduced input costs, and improved soil fertility under ZBNF practices.
  • It also addresses environmental concerns such as water conservation and reduction in greenhouse gas emissions.
• Global Recognition:
  • ZBNF has gained international attention and is often cited as a model for sustainable agriculture in developing countries.

Key Points

• Andhra Pradesh won the Best State Award of ICAR National Research Center for Banana (NRCB) for its remarkable efforts in export promotion.
• Andhra Pradesh has been utilizing Continuously Operating Reference Stations (CORS) technology while conducting resurvey of landholdings, ensuring precise and real-time data collection.
• This technology involves a network of fixed GPS stations that provide accurate location data, crucial for efficient land surveys.
• The recognition by NRCB highlights Andhra Pradesh's commitment to enhancing its agricultural export capabilities, particularly in the banana sector.

Additional Information

• Gross State Domestic Product (GSDP)
  • GSDP is a measure of the economic output of a state, similar to GDP at the national level.
  • It reflects the monetary value of all goods and services produced within the state in a given period.
  • A declining GSDP growth rate can indicate economic challenges, such as lower returns in specific sectors.
• Fiscal Deficit and Revenue Deficit
  • Fiscal Deficit occurs when a government's total expenditures exceed the revenue that it generates, excluding money from borrowings.
  • Revenue Deficit is the excess of government expenditure over revenue receipts, indicating that the government's income is insufficient to cover its operational expenses.
  • A higher Revenue Deficit compared to Fiscal Deficit suggests significant operational shortfalls, impacting overall financial stability.
• Continuously Operating Reference Stations (CORS)
  • CORS are a network of GPS stations that provide accurate positional data.
  • This technology is used for high-precision land surveys, infrastructure development, and various geospatial applications.
  • By continuously monitoring satellite signals, CORS enhances the accuracy of location data, crucial for land management and planning.

Key Points

• New and Renewable Energy Development Corporation of A.P. Ltd (NREDCAP) shall act as a Nodal Agency under this policy.
• All the Ports in the State have infrastructure for storing liquid nitrogen which can then be utilized for storing Green Hydrogen for exporting to other countries.
• The objective is to target Green Energy production up to the capacity of 1 MPTA (Million Tonnes Per Annum) or Green Ammonia production up to the capacity of 2-0 MTPA in the next five years.
• The Policy does not prohibit the production of Green Hydrogen/Green Ammonia by using Renewable Energy and/or Biomass from 'Third-Party/Power exchange'.

Additional Information

• Green Hydrogen
  • Green hydrogen is produced by splitting water into hydrogen and oxygen using renewable electricity.
  • This process is known as electrolysis.
  • The hydrogen produced is termed 'green' because the process does not emit carbon dioxide, making it a sustainable and clean source of energy.
• Green Ammonia
  • Green ammonia is produced by combining green hydrogen with nitrogen from the air.
  • It is called 'green' because the hydrogen used in the process is derived from renewable energy sources.
  • Green ammonia can be used as a sustainable fertilizer or as a carbon-free fuel.
• New and Renewable Energy Development Corporation of Andhra Pradesh Ltd (NREDCAP)
  • NREDCAP is a state-owned entity responsible for the promotion of renewable energy and energy conservation in Andhra Pradesh.
  • It acts as a nodal agency for implementing various renewable energy projects and policies in the state.
• Liquid Nitrogen Storage
  • Liquid nitrogen is commonly used for storing and transporting gases in a liquefied state.
  • It can be used for the storage of green hydrogen due to its extremely low temperature, which helps in maintaining hydrogen in a liquid state.
  • This infrastructure is crucial for exporting green hydrogen to other countries.

Key Points

• Andhra Pradesh's first riverine project: The state has proposed its first riverine project between Muktyala and Madipadu on the Krishna river.
• Setu Bandhan Scheme: The development of Rail Over Bridges (ROBs) in Andhra Pradesh is being carried out under the Setu Bandhan Scheme.
• Incorrect Information: The statement about the Bhogapuram Greenfield International Airport being funded by the National Investment and Infrastructure Fund (NIIF) is not valid.
• Community Assets: The statement regarding infrastructure investments being limited to strategic investments and excluding community assets is not correct. Infrastructure investments in Andhra Pradesh also focus on community assets.

Additional Information

• National Investment and Infrastructure Fund (NIIF):
  • It is a fund created by the Government of India to enhance infrastructure financing in the country.
  • The primary objective is to maximize economic impact mainly through infrastructure investments in commercially viable projects.
• Setu Bandhan Scheme:
  • It is an initiative by the Government of India for the construction of Rail Over Bridges (ROBs) and Rail Under Bridges (RUBs) to improve the safety and efficiency of the railway network.
• Riverine Projects:
  • These projects focus on the development and management of river systems for various purposes including navigation, irrigation, and flood control.
  • Such projects are vital for the holistic development of regions dependent on river systems.
• Bhogapuram Greenfield International Airport:
  • This is a major airport project in Andhra Pradesh aimed at boosting connectivity and economic development in the region.
  • Greenfield projects refer to initiatives that are built from scratch, on undeveloped land.

The correct answer is Four.

Key Points

• A corporation discloses its financial results every three months, during what is known as a fiscal quarter. A publicly traded company would publish four quarterly reports a year since, as the name implies, there are four quarters in a year.
• These quarters are termed as Q1, Q2, Q3 and Q4. A company can choose how to divide a calendar year into these four quarters.
• Fiscal Year or Financial Year term is commonly used in Banking and Financial sector.
• Fiscal quarters are used by publicly traded companies to schedule the release of financial statements, as well as the distribution of dividends and capital gains.

The correct answer is Kadapa

Key Points

The correct answer is Rs 2,07,771.

Key Points

• The per-capita income of the state increased to Rs 2,07,771 in 2021-22, as against Rs 1,76,707 in 2020-21 at current prices with a jump of Rs 31,010 in a year, while the national Average stood at Rs 1,49,848.
• Per capita income
  • It is the total income that measures the average income earned by a person in a year in a given area.
  • It is calculated by dividing the total income in an area by its total population.
  • It helps to measure a sector's average income and compares the wealth of different populations.

Additional Information

• Goa has the highest per capita income among the States and Union Territories in India.
• Bihar has the lowest per capita income in India.