Daily Quiz: UPSC Prelims Marathon – April 2, 2019

The first experimental electric telegraph line was started Calcutta (now Kolkata) and diamondharbour in November 1850. A regular telegraph department was set up in 1854 when the telegraph act was enacted and telegraph facilities were thrown open to public traffic.

The first automatic telephone exchange was commissioned at Shimla in 1913-14

India was one of the first in Asia to recognize the effectiveness of the export, with Asia’s first EPZ set up in kandla in 1965, seven other zones were later established in Mumbai, Chennai,Surat, Falta, Kochi, Noida and Vizag

Financial inclusion or inclusive financing is the delivery of financial services at affordable costs to sections of disadvantaged and low- income segment of society, in contrast to financial exclusion where those services are not available or affordable.

In this particular question all the steps are targeted financial inclusion in one way or the other nationalization targeted expansion of bank branches in rural areas and also a control on concentration of economic power in the hands of few. RRBs were planned to cater the needs of rural areas.

Bank rate is the rate interest which a central bank (RBI) charges on the loans and advanced to a commercial bank. It also referred to as the discount Rate.

If RBI wants to increase the liquidity and money supply in the market, it will be decrease the bank rate and if it wants to reduce the liquidity and money supply in the system, It will increase the bank rate.

The demographic dividened is a rise in the rate of economic growth due to a rising share of working class people in a population. India’s demographic dividend is its working age (15-34years) and as a result its economy has the potential to grow more quickly than that of many other countries, including china.

Inclusive growth is a concept which advances equitable opportunities for economic participants during the process of economic growth with benefits incurred by every section of society all the statements contribute to inclusive growth.

Frictional unemployment is unemployment that occurs from the inevitable time delays in finding new employment in a free market. It may also be called ‘search unemployment as it relates to the time taken to search for new employment. For example, if you graduate from university, you can’t necessarily expect to find a job straight away which matches your skills. This period of searching for a job is known as frictional unemployment. Frictional unemployment will also occur when people are switching between jobs, either because they have been made redundant or are looking for new employment.

National Pharmaceutical Pricing Authority [NPPA] is an independent body under Department of Pharmaceuticals under Ministry of Chemicals and Fertilizers. Its functions are to fix/revise the controlled bulk drugs prices and formulations. National List of Essential Medicines contains 376 medicines. Criteria for inclusion into this list includes public health emergency, cost effective medicine etc. Once a drug or medical device is included in NLEM, its price can be capped by NPPA. Recently, NPPA capped the prices of knee implants. Surgical procedures are not covered under this.