January 13 – INDIAN ECONOMY Welcome to your January 13 - INDIAN ECONOMY Consider the following statements about Gross Happiness Index1. It was first coined by Dr.Amartya Sen in the post globalisation period.2. It excludes 'standard of living' as a parameter of well-being. A. 1 only B. 2 only C. Both 1 and 2 D. Neither 1 nor 2 Identify the arguments against Universal Basic Income1. Conspicuous spending.2. Insurance against shocks.3. Increase in fiscal cost. A. 1 only B. 1 and 3 only C. 3 only D. All the above Consider the following statements about National Anti-profiteering Authority1. It was established under Benami Transactions Act 2016.2. The National Anti-profiteering Authority (NAA) will be headed by a senior officer of the level of Secretary to the Government of India. A. 1 only B. 2 only C. Both 1 and 2 D. Neither 1 nor 2 Which of the following banking- associated statements are correct ?1. Bank leverages the depositsmanifold for lending in the economy known as ‘credit creation’ by banks. 2. Managing liquidity is a major function of SEBI.3. Ideally short-term/volatile liquidity should be addressed through repo auctions,medium-term liquidity through OMO and long-term liquidity through the CRR. A. 1 and 3 only B. 2 only C. 2 and 3 only D. 1, 2 and 3 What are the objectives of Gold Monetisation Scheme ?1. To be able to reduce reliance on import of gold over time to meet the domestic demand.2. To become the top exporter of gold in South Asia.3. To mobilize the gold held by households and institutions in the country.4. To provide a fillip to the gems and jewellery sector in the country by making goldavailable as raw material on loan from the banks. A. 1, 2 and 3 only B. 2 and 3 only C. 1, 3 and 4 only 1 and 4 only Time is Up!