ele ted      s    23.7
         Select the correct statements using the code       Code:
         given below:                                      (a) Only 1
         (a) 1, 2 and 3                                    (b) Only 2
         (b) 2, 3 and 4                                    (c) Both 1 and 2
         (c) 1, 3 and 4                                    (d) Neither 1 nor 2
         (d) 1, 2 , 3 and 4                           AnsWer key With exPlAnAtions
     24. Consider the following statements related    1. (b) Need of the ‘standing deposit facility’
         to the State Food Commissions provisioned            (SDF) was proposed by the RBI in
         in the National Food Security Act, 2013.             November 2015 for the first time. The
                                                              Union Budget 2018-19 announced to
          1. The five-member commission must
                                                              put this scheme in place. RBI will be able
              have two women and one member                   to hold ‘uncollateralized’ deposit under
              each from the SCs and STs.                      it in case the economy is flush will excess
          2. It may enquire into violations of                fund (as was seen during demonetisation
              entitlements either suo moto or on              in November 2016).
              receipt of complaints and will hold     2. (c) Hybrid Annuity Model (HAM) is a PPP
              powers of a civil court.                        model to develop road projects while the
                                                              ‘engineering, procurement, construction’
          3. It will prepare an annual report of the
                                                              (EPC) was fully funded by the GoI.
              Act to be laid before the legislature.          Private sector, in this model, has the
          4. The commission will function as one              responsibility to build the road and hand
              of bodies of the two-tier grievance             it over to the government. The selection
              redressal structure as per the Act.             takes place on the basis of bidding—the
                                                              bidder which asks for lowest annuity gets
         Select the correct statements using the code         the project. The new PPP model was
         given below:                                         announced by the GoI by late January
         (a) 1, 2 and 3                                       2016.
         (b) 2, 3 and 4                               3. (d) India shifted to the new system in the
         (c) 1, 3 and 4                                       financial year 2015–16. It is the standard
                                                              practice across the world and was
         (d) 1, 2 , 3 and 4                                   suggested by the IMF in 2008. Some
     25. Select the correct code regarding the need           examples of ‘product taxes’ are—cenvat,
         of change in the FRBM Act, as per the new            excise, sales tax, vat, service tax, etc.
         school of thinking—                                  Though the product taxes are imposed
          1. Targeting a fiscal number will be better         on the producers they are ultimately
              than targeting a fiscal range.                  borne by the consumers (it is an indirect
                                                              tax).
          2. The present provisions of the Act
              might have compromised the socio-       4. (b) This is not the contractual conditions of
              economic interests of the economy.              sale between a buyer and a seller, but the