The correct answer is 1991.

Important Points

• In 1991, a crisis in the balance of payments led to the introduction of economic reforms in the country.
• Pamulaparthi Venkata Narasimha Rao is known as the father of Indian economic reform.
  • He was an Indian lawyer and politician who served as the 9th Prime Minister of India from 1991 to 1996.
• The economic crisis of 1991 was a culminated outcome of the policy failure in the preceding years.
  • It was in that year the Indian government was experiencing huge fiscal deficits, a large balance of payment deficits, a high inflation level, and an acute fall in the foreign exchange reserves.
• The economic reform has led to considerable liberalization and freeing of international trade and to some replacement of what used to be called the ‘Licence Raj’ (with pervasive bureaucratic control over private economic initiatives).
• Positive Impacts of Economic Reform
  • The growth of GDP increased from 5.6% during 1980-91 to 6.4% during 1992-2001.
  • Foreign investment increased.
  • Foreign exchange reserves increased.
  • The growth of the service sector has increased.

The correct answer is Horticulture and Honey.

Key Points

• The Golden Revolution is related to Horticulture and Honey.
• It started in 1991 and lasted till 2003.
• Father of Golden Revolution: Nirpakh Tutaj.
• The Golden Fibre Revolution is related to Jute Production.

Additional Information

The correct answer is The Government of India.

Key Points

• The Government of India has the sole right to mint coins.
• The responsibility for coinage vests with the Government of India in terms of the Coinage Act, 1906 as amended from time to time. 
• The designing and minting of coins in various denominations is also the responsibility of the Government of India.
• Coins are minted at the five India Government Mints at Mumbai, Alipore(Kolkata), Saifabad(Hyderabad), Cherlapally (Hyderabad), and NOIDA (UP).
• The coins are issued for circulation only through the Reserve Bank in terms of the RBI Act.

Additional Information

• Reserve Bank of India-
  • The Reserve Bank of India was established on April 1, 1935, in accordance with the provisions of the Reserve Bank of India Act,1934.
  • The Central Office of the Reserve Bank was initially established in Kolkata but was permanently moved to Mumbai in 1937.
  • The Central Office is where the Governor sits and where policies are formulated.
• State Bank of India-
  • State Bank of India (SBI) is an Indian multinational, public sector banking and financial services statutory body headquartered in Mumbai, Maharashtra.
  • The Bank of Madras merged into the other two presidency banks in British India, the Bank of Calcutta and the Bank of Bombay, to form the Imperial Bank of India, which in turn became the State Bank of India in 1955.
  • The Government of India took control of the Imperial Bank of India in 1955, with the Reserve Bank of India (India's central bank) taking a 60% stake, renaming it State Bank of India.
• Union Bank of India-
  • Union Bank of India (Union Bank) was registered on 11 November 1919 as a limited company in Mumbai and was inaugurated by Mahatma Gandhi.
  • The Indian government nationalized the Union Bank of India in 1969.

The correct answer is Mahbub Ul Haq.

Key Points

• The first Human Development Report (HDR) was published in 1990 by UNDP (United Nations Development Programme) under the leadership of Mahbub Ul Haq.
• HDI stands for Human Development Index.
• It was created to emphasize the people to expand their capabilities and for assessing the growth and development of a country.
• A country on the basis of its HDI can take measures to develop its economy.
• The concept of HDI was given by Meghnad Desai and Amartya Sen.
• The value of HDI remains between 0-1
• It is based on three dimensions:
  1. Long and healthy life: Measured by Life Expectancy at birth.
  2. Knowledge: Measured by mean years of schooling and expected years of schooling. 
  3. A decent standard of living: Measured by Gross National Income Per Capita (GNIPC) at PPP (Purchasing Power Parity) of a particular country.

Important Points

Out of 189 countries, India has ranked 131 on the Human Development Index 2020.

• The report is prepared by the United Nations Development Program (UNDP).
• HDI value of India is 0.645.

The correct answer is Per capita income.

Key Points

• Per capita income or average income measures the average income earned per person in the given area in a specified year.
• It is calculated by dividing the area's total income by its total population.
• In World Development Reports, brought out by the World Bank, this criterion is used in classifying countries.
• Countries with a per capita income of US$ 12,056 per annum and above in 2017, are called rich countries.
• Countries with a per capita income of US$ 955 or less are called low-income countries.
• India comes in the category of low-middle-income countries because its per capita income in 2017 was just US$ 1820 per annum.
• The rich countries, excluding countries of the Middle East and certain other small countries, are generally called developed countries.

Additional Information

• Annual income is the total value of income earned during a fiscal year.
• Fiscal Year (FY) A fiscal year (FY) is a 12-month or 52-week period of time used by governments.
• GDP stands for "Gross Domestic Product".
  • It is the total monetary or market value of all the finished goods and services produced within a country’s borders in a specific time period.

The correct answer is the Ministry of Skill Development and Entrepreneurship.

Key Points

• Skill India's mission comes under the Ministry of Skill Development and Entrepreneurship. 

​Additional Information

 Important Points

• Skill India Mission:
  • Launched on: 15 July 2015.
  • Launched by: Prime Minister Narendra Modi.
  • Aim: Provide a strong institutional framework to implement and scale up skill development efforts across the country and to impart training to one crore youth every year. 
  • Under Skill India Mission, the Ministry of Skill Development and Entrepreneurship impart employable skills to the youth through long-term and short-term training.
  • The Ministry is implementing Pradhan Mantri Kaushal Vikas Yojana (PMKVY 2.0) and Jan Shikshan Sansthan (JSS) for short-term training.
  • Under this mission, the number of ITIs institutes was increased from 5000 to 15000 ITIs institutes.

The correct answer is Dr. Manmohan Singh.

Key Points

• Its duration was from 2007 to 2012, under the leadership of Manmohan Singh. 
• It was prepared by C. Rangarajan.
• Its main theme was “Rapid and more inclusive growth”.
• Assessment
  • India has recorded an average annual economic growth rate of 8%, farm sector grew at an average rate of 3.7% as against the 4% targeted. The industry grew with an annual average growth of 7.2% against the 10% targeted.
• Objectives
  • Rapid and inclusive growth.
  • Empowerment through education and skill development.
  • Reduction of gender inequality.
  • Environmental sustainability.
  • To increase the growth rate in agriculture, industry, and services to 4%,10% and 9% respectively.
  • Provide clean drinking water for all by 2009.

Additional Information

• The Constitution came into force on 26 January 1950. 
• Subsequently, Planning Commis­sion was set up on 15 March 1950 and the plan era started from 1 April 1951 with the launch­ing of the First Five Year Plan (1951-56).
• All Five Year Plans:

The correct answer is Coal India Limited.

Key Points

• Coal India Limited is a Maharatna central public sector enterprise in India.
  • Coal India Limited came into being in November 1975.
  • As of 1st April 2021, Coal India Limited is the single largest coal producer in the world and one of the largest corporate employers with manpower of 2,59,016.
  • It is under the ownership of the Ministry of Coal, Government of India.
  • The headquarters of Coal India Limited is in Kolkata, West Bengal.

Important Points

• As of 2021, there are 10 Maharatna central public sector enterprises in India.
  • Bharat Heavy Electricals Limited
  • Bharat Petroleum Corporation Limited
  • Coal India Limited
  • GAIL (India) Limited
  • Hindustan Petroleum Corporation Limited
  • Indian Oil Corporation Limited
  • NTPC Limited
  • Oil & Natural Gas Corporation Limited
  • Power Grid Corporation of India Limited
  • Steel Authority of India Limited

Additional Information

• The government has the 11th public sector enterprise accorded the 'Maharatna' status to state-owned Power Finance Corporation (PFC).
• Central Coalfields Limited is a subsidiary of Coal India Limited listed under Miniratna  company.
• Cochin Shipyard Ltd is the largest shipbuilding and maintenance facility in India located in Kochi. Kerala.
  • Cochin Shipyard Ltd is listed under Miniratna  company.
• The India Tourism Development Corporation is a hospitality, retail and education company under the Ministry of Tourism.
  • The India Tourism Development Corporation is listed under Miniratna  company.

The correct answer is All of the above

• As a Central Bank of the country, the RBI performs a wide range of functions. Among various functions important are:
  1. Acts as the currency authority,
  2. Controls money supply and credit,
  3. Manages foreign exchange,
  4. Serves as a banker to the government,
  5. Builds up and strengthens the country’s financial infrastructure,
  6. Acts as the banker of commercial banks,
  7. Supervises banks.
• Few other important functions of RBI include:
  • Reserve Bank of India under the RBI Act, Section 22 is solely accountable for the issuance of currency notes excluding the rupee one-note issued by the Finance Secretary of the Government of India. 
  • RBI acts as a banker to commercial banks.
  • RBI conducts banking and financial operations of the Government of India and advises on various financial and economic issues.
  • While handling the Government business, RBI maintains government accounts, advises on monetary matters including financial aspects, besides carrying out Government business as and when required.
  • It provides financial accommodation to the cooperative banking sector for financing special sectors of the economy like agriculture etc.
  • Bank performs the function of the controller of the exchange value of the rupee vs. the US dollar.
  • Acts As a counselor and manager of banking and financial system, RBI appoints CEOs of Banks and put its members of the Boards of the Bank to guarantee proper Governance and well-defined banking practices.

The correct answer is Alagh Committee.

• Alagh Committee recommended a poverty line based on nutritional requirements exclusively.

Key Points

• Alagh Committee was a task force constituted by the Planning Commission under the chairmanship of YK Alagh.
• It recommended and constructed a poverty line for rural and urban areas on the basis of nutritional requirements and related consumption expenditure.

Additional Information

• Lakdawala Committee of 1993 was a task force chaired by DT Lakdawala.
• Recommendations:
  • 1973-74, as the base year, would be continued for estimating the poverty line.
  • State-specific poverty line estimates would use the standardized commodity basket corresponding to the poverty line at the national level.
  • The committee was based on the assumption that the basket of goods and services used to calculate Consumer Price Index-Industrial Workers.
  • Creation of State-specific consumer price index, CPI.
  • CPI for the agricultural labourers (rural) and CPI for the industrial workers and non-manual employees (urban) should be used separately.
• Tendulkar Committee was constituted in 2009
  • It was n expert group constituted by the Planning Commission and chaired by Suresh Tendulkar, was constituted to review methodology for poverty estimation and to address the following shortcomings of the previous methods.
• The Rangarajan Committee was constituted in the year 2012.
  • The referred to the idea of Lakdawala committee's method of calculating Rural and Urban Poverty Separately.
  • It recommended a monthly per capita consumption expenditure of RS 972 in rural areas and RS 1,407 in urban areas as the poverty line at the all-India level.