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The Government of India has recently announced a committee under Niti Aayog CEO Amitabh Kant. Consider the following statement about the committee:
1) The committee has to form a strategy to accelerate the process of transforming India into a cashless economy.
2) The committee will identify and operationalise in the earliest possible time frame user-friendly digital payment options in all sectors of the economy.
3) The committee will execute an action plan on advocacy, awareness and handholding efforts among public, micro enterprises and other stakeholders.
Select the correct answer from the following codes:
  • a)
    1 and 2 only 
  • b)
    1 and 3 only
  • c)
    2 and 3 only 
  • d)
    All of these
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
The Government of India has recently announced a committee under Niti ...
Answer: a
Explanation:
The Union Government has recently announced the formation of new committee to form a strategy to accelerate the process of transforming India into a cashless economy.
The other members of the committee are the Secretary of the Department of Financial Services, Secretary of Department Of Industrial Policy & Promotion and Secretary of Department of Investment and Public Asset Management, Secretaries of the IT and Rural Development Ministries, Managing Director of the National Payments Corporation of India and the Chairman of National Highways Authority of India (NHAI).
The task of the committee is to identify various obstructions affecting access of digital payments. The committee was constituted following a directive from the Prime Minister’s Office to back up the demonetization move.
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Most Upvoted Answer
The Government of India has recently announced a committee under Niti ...
Introduction:
The Government of India has set up a committee under the guidance of Niti Aayog CEO Amitabh Kant to accelerate the process of transforming India into a cashless economy. The committee has been assigned various tasks to achieve this goal.

Explanation:
The correct answer is option 'A' which includes statements 1 and 2 only. Let's understand why the other options are incorrect:

Option B:
Statement 1 is true as the committee's main objective is to form a strategy to accelerate the process of transforming India into a cashless economy. This aligns with the government's vision of promoting digital transactions and reducing cash dependency.

Statement 3 is incorrect as the committee's role does not include executing an action plan on advocacy, awareness, and handholding efforts among the public, micro-enterprises, and other stakeholders. While awareness and advocacy may be important aspects of the committee's work, the execution of an action plan is not specifically mentioned.

Option C:
Statement 2 is true as the committee has been tasked with identifying and operationalizing user-friendly digital payment options in all sectors of the economy. This is crucial to promote the adoption of digital transactions and ensure that individuals and businesses have convenient and accessible payment methods.

Statement 3 is incorrect for the same reason mentioned in option B. The committee's role does not include executing an action plan on advocacy, awareness, and handholding efforts.

Option D:
This option includes all three statements, but statement 3 is incorrect as discussed earlier.

Conclusion:
Based on the above analysis, the correct answer is option 'A' which includes statements 1 and 2 only. The committee's primary focus is to form a strategy to accelerate the process of transforming India into a cashless economy and identify user-friendly digital payment options in all sectors of the economy.
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The Government of India has recently announced a committee under Niti Aayog CEO Amitabh Kant. Consider the following statement about the committee:1) The committee has to form a strategy to accelerate the process of transforming India into a cashless economy.2) The committee will identify and operationalise in the earliest possible time frame user-friendly digital payment options in all sectors of the economy.3) The committee will execute an action plan on advocacy, awareness and handholding efforts among public, micro enterprises and other stakeholders.Select the correct answer from the following codes:a)1 and 2 onlyb)1 and 3 onlyc)2 and 3 onlyd)All of theseCorrect answer is option 'A'. Can you explain this answer?
Question Description
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