Which of the following is/are the example(s) of Transfer Payment(s)?1. Unemployment Allowance2. Payment of Salary3. Social Security Payments4. Old age PensionSelect the correct answer using the code given below :a)1 and 3 onlyb)1, 2 and 3 onlyc)1, 3 and 4 onlyd)None of the aboveCorrect answer is option 'A'. Can you explain this answer?

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Which of the following is/are the example(s) of Transfer Payment(s)?
1. Unemployment Allowance
2. Payment of Salary
3. Social Security Payments
4. Old age Pension

Select the correct answer using the code given below :

a)
1 and 3 only
b)
1, 2 and 3 only
c)
1, 3 and 4 only
d)
None of the above

Correct answer is option 'A'. Can you explain this answer?

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CDS I - General Knowledge Previous Year Question Paper 2016

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Which of the following is/are the example(s) of Transfer Payment(s)?1....

In layman term, A transfer payment is money paid to an individual who has not performed any service or rendered any goods for it. It is a public expenditure made for a purpose such as unemployment compensation, subsidy.
Unemployment Allowance: As the name suggests, it is the allowance made to people who are unemployed.
Payment of Salary cannot be a transfer payment as payment is being done for the service being provided.
A retirement, health, old age, disability, unemployment and maternity benefits come under the Social Security Payments.
The old age pension is given when you attain a particular age. In India, Indira Gandhi National Old Age Pension Scheme (IGNOAPS) is an old age pension scheme that covers Indians who are 60 years and above and lives below the poverty line.

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Which of the following is/are the example(s) of Transfer Payment(s)?1. Unemployment Allowance2. Payment of Salary3. Social Security Payments4. Old age PensionSelect the correct answer using the code given below :a)1 and 3 onlyb)1, 2 and 3 onlyc)1, 3 and 4 onlyd)None of the aboveCorrect answer is option 'A'. Can you explain this answer?

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