Start learning 50% faster. Sign in now
1) Transfer payments are made by the government to households.- Correct . Transfer payments typically involve the government distributing money to individuals or households without requiring any goods or services in return. Examples include welfare benefits, social security, and unemployment benefits. 2) Pension, scholarship, etc. are not a part of the transfer payments. Incorrect . Pensions and scholarships are indeed examples of transfer payments. These are funds given to individuals without any direct exchange of goods or services. Pensions, for example, are paid to retirees, often as part of government social security programs, while scholarships provide financial support for students, both typically without requiring any work or service in exchange. 3) Transfer payments are often used as a means of redistributing income within a society.- Thus, statements 1 and 3 are correct about transfer payments. Correct . One of the primary functions of transfer payments is to redistribute income to promote social equity. By transferring money from general revenues to individuals who are less economically advantaged, governments can help reduce poverty and support economic stability among vulnerable groups.
Which Indian state announced the Neelkurinji Conservation Reserve to protect rare flowering plants?
The investigative wing of the Central Board of Indirect Tax and Customs (CBIC) has slapped a show cause-cum-demand notice on which Life Insurance Compan...
How much is the investment potential for India’s National Electricity Plan (Transmission) until 2032?
ADB has slashed the economic growth forecast for India for 2023-24 (FY24) by 80 bps to ___________.
What is the significance of the Joint Table Top Exercise CINBAX held in Pune?
The Securities and Exchange Board of India (SEBI) has extended the timeline for implementation of linking SEBI Complaint Redressal (SCORES) with the onl...
Recently the Prime Minister, Shri Narendra Modi flagged off which of the following Express at KSR Railway Station, Bengaluru?
Which state government has planned to spend over Rs 180 crore during the 2023-24 financial year under the Mukhyamantri Laghu Udyog Protsahan Yojana so a...
Who among the following becomes Ni-Kshay Mitra and national ambassador for TB Mukt Bharat Campaign?