Answer: D

Explanation:

Microfinance is a form of financial service which provides small loans and other financial services to poor and low-income households. Microcredit is delivered through a variety of institutional channels viz., (i) scheduled commercial banks (SCBs) (including small finance banks (SFBs) and regional rural banks (RRBs)) lending both directly as well as through business correspondents (BCs) and self-help groups (SHGs), (ii) cooperative banks, (iii) non-banking financial companies (NBFCs), and (iv) microfinance institutions (MFIs) registered as NBFCs as well as in other forms. Hence, option (d) is correct.

Answer: B

Explanation:

Under the Pradhan MantriGramodayaYozana (PMGY) launched in 2000, additional central assistance is given to states for basic services such as primary health, primary education, rural shelter, rural drinking water and rural electrification.

Rural Employment Generation Programme (REGP) was launched in 1995. The aim of the programme is to create selfemployment opportunities in rural areas and small towns.

Prime Minister RozgarYozana (PMRY) is another scheme which was started in 1993. The aim of the programme is to create self-employment opportunities for educated unemployed youth in rural areas and small towns. They are helped in setting up small business and industries.

Hence, option (b) is correct.

Answer: C

Explanation:

Taxation is based on the idea of Fairness. Though fairness (i.e., the first criteria of a good tax system) is not always easy to define, economists suggested inclusion of two elements in the tax system to make it fair namely, horizontal equity and vertical equity. Individuals in identical or similar situations paying identical or similar taxes are known as horizontal equity. When ‘better off people pay more taxes it is known as vertical equity. Hence, option (c) is correct.

Answer: D

Explanation:

Seed capital is the funding required to get a new business started. This initial funding, which usually comes from the business owner(s) and perhaps friends and family, supports preliminary activities such as market research, product research and development (R&D) and business plan development. Hence, option (d) is correct.

Answer: D

Explanation:

Stabilisation measures are short-term measures, intended to correct some of the weaknesses that have developed in the balance of payments and to bring inflation under control. In simple words, this means that there was a need to maintain sufficient foreign exchange reserves and keep the rising prices under control. On the other hand, structural reform policies are long-term measures, aimed at improving the efficiency of the economy and increasing its international competitiveness by removing the rigidities in various segments of the Indian economy. Hence, both statements are incorrect.