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Consider the following statements regarding the National Bank for Agriculture and Rural Development (NABARD) All India Rural Financial Inclusion Survey (NAFIS) for 2021-22:
1. The survey reported that the average monthly income of rural households increased by 57.6% from 2016-17 to 2021-22.
2. Only 50% of the agricultural households reported saving money in 2021-22.
3. The percentage of rural households with at least one member covered by any form of insurance increased to 80.3% in 2021-22.
Which of the statements given above is/are correct?
- a)1 Only
- b)1 and 2 Only
- c)1 and 3 Only
- d)1, 2 and 3
Correct answer is option 'C'. Can you explain this answer?
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Most Upvoted Answer
Consider the following statements regarding the National Bank for Agr...
Let's analyze each statement:
1. Statement 1: The survey does indeed report a 57.6% increase in the average monthly income of rural households from Rs. 8,059 in 2016-17 to Rs. 12,698 in 2021-22. This statement is correct.
2. Statement 2: This statement is incorrect. The survey indicates that 71% of agricultural households reported saving money in 2021-22, not just 50%. The 50.6% figure refers to the percentage of all households that reported saving money in 2016-17.
3. Statement 3: The survey reported that the percentage of households with at least one member covered by any form of insurance increased significantly to 80.3% in 2021-22, indicating a substantial rise in insurance coverage. This statement is correct.
Therefore, statements 1 and 3 are correct, making Option C the right answer.
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Community Answer
Consider the following statements regarding the National Bank for Agr...
Overview of NABARD's NAFIS 2021-22
The National Bank for Agriculture and Rural Development (NABARD) conducts the All India Rural Financial Inclusion Survey (NAFIS) to assess the financial status and needs of rural households. The 2021-22 survey revealed several significant trends.
Analysis of Statements
1. Average Monthly Income Increase
- The survey indicated that the average monthly income of rural households saw a substantial increase of 57.6% from 2016-17 to 2021-22.
- This statement is correct and reflects positive economic growth in rural areas.
2. Savings Among Agricultural Households
- The survey reported that only 50% of agricultural households saved money in 2021-22.
- This statement is incorrect; the actual percentage of agricultural households that reported saving was higher than 50%. This reflects a growing trend of financial literacy and saving practices among rural households.
3. Insurance Coverage Among Rural Households
- The survey found that the percentage of rural households with at least one member covered by any form of insurance increased to 80.3% in 2021-22.
- This statement is correct and indicates an improvement in financial security and risk mitigation among rural populations.
Conclusion
Based on the analysis:
- Statement 1 is correct.
- Statement 2 is incorrect.
- Statement 3 is correct.
Thus, the correct answer is option C (1 and 3 only).
The National Bank for Agriculture and Rural Development (NABARD) conducts the All India Rural Financial Inclusion Survey (NAFIS) to assess the financial status and needs of rural households. The 2021-22 survey revealed several significant trends.
Analysis of Statements
1. Average Monthly Income Increase
- The survey indicated that the average monthly income of rural households saw a substantial increase of 57.6% from 2016-17 to 2021-22.
- This statement is correct and reflects positive economic growth in rural areas.
2. Savings Among Agricultural Households
- The survey reported that only 50% of agricultural households saved money in 2021-22.
- This statement is incorrect; the actual percentage of agricultural households that reported saving was higher than 50%. This reflects a growing trend of financial literacy and saving practices among rural households.
3. Insurance Coverage Among Rural Households
- The survey found that the percentage of rural households with at least one member covered by any form of insurance increased to 80.3% in 2021-22.
- This statement is correct and indicates an improvement in financial security and risk mitigation among rural populations.
Conclusion
Based on the analysis:
- Statement 1 is correct.
- Statement 2 is incorrect.
- Statement 3 is correct.
Thus, the correct answer is option C (1 and 3 only).
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Consider the following statements regarding the National Bank for Agriculture and Rural Development (NABARD) All India Rural Financial Inclusion Survey (NAFIS) for 2021-22:1. The survey reported that the average monthly income of rural households increased by 57.6% from 2016-17 to 2021-22.2. Only 50% of the agricultural households reported saving money in 2021-22.3. The percentage of rural households with at least one member covered by any form of insurance increased to 80.3% in 2021-22.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer?
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Consider the following statements regarding the National Bank for Agriculture and Rural Development (NABARD) All India Rural Financial Inclusion Survey (NAFIS) for 2021-22:1. The survey reported that the average monthly income of rural households increased by 57.6% from 2016-17 to 2021-22.2. Only 50% of the agricultural households reported saving money in 2021-22.3. The percentage of rural households with at least one member covered by any form of insurance increased to 80.3% in 2021-22.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements regarding the National Bank for Agriculture and Rural Development (NABARD) All India Rural Financial Inclusion Survey (NAFIS) for 2021-22:1. The survey reported that the average monthly income of rural households increased by 57.6% from 2016-17 to 2021-22.2. Only 50% of the agricultural households reported saving money in 2021-22.3. The percentage of rural households with at least one member covered by any form of insurance increased to 80.3% in 2021-22.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding the National Bank for Agriculture and Rural Development (NABARD) All India Rural Financial Inclusion Survey (NAFIS) for 2021-22:1. The survey reported that the average monthly income of rural households increased by 57.6% from 2016-17 to 2021-22.2. Only 50% of the agricultural households reported saving money in 2021-22.3. The percentage of rural households with at least one member covered by any form of insurance increased to 80.3% in 2021-22.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer?.
Consider the following statements regarding the National Bank for Agriculture and Rural Development (NABARD) All India Rural Financial Inclusion Survey (NAFIS) for 2021-22:1. The survey reported that the average monthly income of rural households increased by 57.6% from 2016-17 to 2021-22.2. Only 50% of the agricultural households reported saving money in 2021-22.3. The percentage of rural households with at least one member covered by any form of insurance increased to 80.3% in 2021-22.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements regarding the National Bank for Agriculture and Rural Development (NABARD) All India Rural Financial Inclusion Survey (NAFIS) for 2021-22:1. The survey reported that the average monthly income of rural households increased by 57.6% from 2016-17 to 2021-22.2. Only 50% of the agricultural households reported saving money in 2021-22.3. The percentage of rural households with at least one member covered by any form of insurance increased to 80.3% in 2021-22.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding the National Bank for Agriculture and Rural Development (NABARD) All India Rural Financial Inclusion Survey (NAFIS) for 2021-22:1. The survey reported that the average monthly income of rural households increased by 57.6% from 2016-17 to 2021-22.2. Only 50% of the agricultural households reported saving money in 2021-22.3. The percentage of rural households with at least one member covered by any form of insurance increased to 80.3% in 2021-22.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer?.
Solutions for Consider the following statements regarding the National Bank for Agriculture and Rural Development (NABARD) All India Rural Financial Inclusion Survey (NAFIS) for 2021-22:1. The survey reported that the average monthly income of rural households increased by 57.6% from 2016-17 to 2021-22.2. Only 50% of the agricultural households reported saving money in 2021-22.3. The percentage of rural households with at least one member covered by any form of insurance increased to 80.3% in 2021-22.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC.
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Consider the following statements regarding the National Bank for Agriculture and Rural Development (NABARD) All India Rural Financial Inclusion Survey (NAFIS) for 2021-22:1. The survey reported that the average monthly income of rural households increased by 57.6% from 2016-17 to 2021-22.2. Only 50% of the agricultural households reported saving money in 2021-22.3. The percentage of rural households with at least one member covered by any form of insurance increased to 80.3% in 2021-22.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer?, a detailed solution for Consider the following statements regarding the National Bank for Agriculture and Rural Development (NABARD) All India Rural Financial Inclusion Survey (NAFIS) for 2021-22:1. The survey reported that the average monthly income of rural households increased by 57.6% from 2016-17 to 2021-22.2. Only 50% of the agricultural households reported saving money in 2021-22.3. The percentage of rural households with at least one member covered by any form of insurance increased to 80.3% in 2021-22.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of Consider the following statements regarding the National Bank for Agriculture and Rural Development (NABARD) All India Rural Financial Inclusion Survey (NAFIS) for 2021-22:1. The survey reported that the average monthly income of rural households increased by 57.6% from 2016-17 to 2021-22.2. Only 50% of the agricultural households reported saving money in 2021-22.3. The percentage of rural households with at least one member covered by any form of insurance increased to 80.3% in 2021-22.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Consider the following statements regarding the National Bank for Agriculture and Rural Development (NABARD) All India Rural Financial Inclusion Survey (NAFIS) for 2021-22:1. The survey reported that the average monthly income of rural households increased by 57.6% from 2016-17 to 2021-22.2. Only 50% of the agricultural households reported saving money in 2021-22.3. The percentage of rural households with at least one member covered by any form of insurance increased to 80.3% in 2021-22.Which of the statements given above is/are correct?a)1 Onlyb)1 and 2 Onlyc)1 and 3 Onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer? tests, examples and also practice UPSC tests.
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