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With reference to the FI-Index, consider the following statements:
1. It is published biennially.
2. It has been constructed without any 'base year'.
Which of the statements given above is/are correct?
- a)1 only
- b)2 only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'B'. Can you explain this answer?
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Most Upvoted Answer
With reference to the FI-Index, consider the following statements:1. I...
The Reserve Bank of India has created a composite Financial Inclusion Index (FI-Index) to capture the extent of financial inclusion across the country.
- The announcement regarding the creation of the Financial Inclusion Index was made in the first Bi-monthly Monetary Policy Statement for 2021-2022 on 17 April.
- The annual FI-Index for the period ending March 2021 is 53.9 against 43.4 for the period ending March 2017. The FI-Index will be published annually in July every year.
- The FI-Index has been conceptualised as a comprehensive index, incorporating details of banking, investments, insurance, postal as well as the pension sector, in consultation with government and respective sectoral regulators.
- It also captures information on the financial inclusion aspects in a single value ranging between 0-100, where 0 represents complete financial exclusion and 100 indicates full financial inclusion.
- The FI-Index comprises three broad parameters -- Access (35%), Usage (45%), and Quality (20%), with each of these consisting of dimensions computed based on many indicators.
- The Index is also responsive to the ease of access, availability and the usage of services, and the quality of services, comprising all 97 indicators.
- A unique feature of the Index is the quality parameter, which captures the quality aspect of financial inclusion as reflected by the financial literacy, consumer protection, and inequalities and deficiencies in services.
- The FI-Index has been constructed without any 'base year', and as such it reflects cumulative efforts of all stakeholders over the years towards financial inclusion.
Hence only statement 2 is correct.
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With reference to the FI-Index, consider the following statements:1. I...
Explanation:
The FI-Index, also known as the Freedom in the World Index, is an annual report published by Freedom House. It measures the level of political rights and civil liberties in countries around the world.
Statement 1: It is published biennially.
This statement is incorrect. The FI-Index is actually published annually, not biennially. It provides an updated assessment of political rights and civil liberties in each country on a yearly basis.
Statement 2: It has been constructed without any base year.
This statement is correct. The FI-Index does not use a base year for its construction. Instead, it assesses the current state of political rights and civil liberties in each country based on a set of indicators and criteria. These indicators include factors such as electoral processes, political pluralism, freedom of expression, and the rule of law.
The index uses a scale from 0 to 100, with 0 representing the least amount of freedom and 100 representing the highest level of freedom. Each country is assigned a score based on its performance in these areas, allowing for comparisons between different countries and regions.
The FI-Index is widely recognized as a reliable and comprehensive measure of political rights and civil liberties. It provides valuable information for policymakers, researchers, and activists around the world. By analyzing trends and changes over time, it helps to identify countries where freedom is improving or deteriorating.
In conclusion, the correct answer is option B: 2 only. The FI-Index is published annually and does not use a base year for its construction.
The FI-Index, also known as the Freedom in the World Index, is an annual report published by Freedom House. It measures the level of political rights and civil liberties in countries around the world.
Statement 1: It is published biennially.
This statement is incorrect. The FI-Index is actually published annually, not biennially. It provides an updated assessment of political rights and civil liberties in each country on a yearly basis.
Statement 2: It has been constructed without any base year.
This statement is correct. The FI-Index does not use a base year for its construction. Instead, it assesses the current state of political rights and civil liberties in each country based on a set of indicators and criteria. These indicators include factors such as electoral processes, political pluralism, freedom of expression, and the rule of law.
The index uses a scale from 0 to 100, with 0 representing the least amount of freedom and 100 representing the highest level of freedom. Each country is assigned a score based on its performance in these areas, allowing for comparisons between different countries and regions.
The FI-Index is widely recognized as a reliable and comprehensive measure of political rights and civil liberties. It provides valuable information for policymakers, researchers, and activists around the world. By analyzing trends and changes over time, it helps to identify countries where freedom is improving or deteriorating.
In conclusion, the correct answer is option B: 2 only. The FI-Index is published annually and does not use a base year for its construction.
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With reference to the FI-Index, consider the following statements:1. It is published biennially.2. It has been constructed without any base year.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?
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