UPPCS Prelims 2023 · GS Paper I: According to Economic Survey 2023 about services, which statement among the following is not…
According to Economic Survey 2023 about services, which statement among the following is not correct?
Answer (c) & explanation
Option (c) is the incorrect statement. The Economic Survey 2022-23 projected that fashion, grocery and general merchandise would capture nearly two-thirds of the Indian e-commerce market by 2027, not by 2030. The other statements match the Survey. Credit growth to services (a) had been above 16% since July 2022. The 75 Digital Banking Units (b) were announced to transform financial services, and were inaugurated in October 2022. The PMI for services (d) showed its strongest expansion since July 2022. Concept: services make up over half of India's gross value added and are the main export earner, led by IT and business services. Trap: the year 2027 has been changed to 2030.
The e-commerce projection was for 2027, not 2030.
Question as printed in UPPSC's official question booklet. Source: uppsc.up.nic.in
Learn the concept
Same theme in UPPCS Mains
- MAINS UPPCS Mains 2022 · GS Paper IV · Section B · Q18What steps should be taken according to you to prevent corruption in society ? Explain.
- MAINS UPPCS Mains 2018 · GS Paper IV · Section B · Q14What are the challenges of corruption? What steps should be taken according to you to prevent them from the society? Explain.
- MAINS UPPCS Mains 2025 · GS Paper III · Section A · Q6How can inclusive and sustainable industrialization (SDG 9) drive economic growth (SDG 8), while ensuring environmental sustainability (SDG 12, 13) in India ?
Same theme in UPSC Mains
- MAINS UPSC Mains 2026 · GS Paper I · Q5“Tundra regions are ecologically fragile but economically important.” Examine this statement critically.
- MAINS UPSC Mains 2026 · GS Paper II · Q19“India's global diaspora acts as a living bridge, as a critical economic factor and knowledge network in transforming cultural heritage into geopolitical influence and strategic leverage…
- MAINS UPSC Mains 2025 · GS Paper IV · Q6bIndia is an emerging economic power of the world as it has recently secured the status of fourth largest economy of the world as per IMF…
Related questions from other years
Which one of the following correctly represents the three key sub-indices of the Financial Inclusion Index (FI-Index) of the Reserve Bank of India (RBI) ?
Answer (c) & explanation
The sub-indices are Access, Usage and Quality (c). The RBI launched the FI-Index in August 2021. It covers banking, investments, insurance, postal services and pension, and gives one value between 0 and 100. Its three parameters are Access (35%), Usage (45%) and Quality (20%). Options (a), (b) and (d) list areas or ideas that are not its sub-indices; GDP contribution and affordability are not parameters.
Notice the logic: usage has the most weight, because an account that is never used does not mean real inclusion. Quality includes financial literacy and consumer protection. The index is published every July, and it has risen steadily, helped by Jan Dhan (2014) and UPI.
Answer as per the official UPSC answer key.
Which one of the following best describes the key objective of India's 'Open Network for Digital Commerce' (ONDC) initiative ?
Answer (c) & explanation
ONDC aims to break the dominance of large platforms (c). The Open Network for Digital Commerce, a DPIIT initiative (2021-22), is an open set of rules, like UPI for shopping. A buyer on one app can buy from a seller listed on another app. This interoperability lets small sellers reach buyers without joining a giant platform. Option (a) is wrong: it does not give the government control of transactions. Option (b) is wrong: private players can join; they are not replaced. Option (d) is wrong: it does not force UPI payments.
Notice ONDC's design: it is a not-for-profit company and part of India's Digital Public Infrastructure, along with Aadhaar, UPI and DigiLocker. It now covers food, groceries and mobility too.
options (a), (b) and (d) use strong words: "all", "replace", "mandate". A public digital platform usually opens a market; it does not take it over.
Answer as per the official UPSC answer key.
Which one of the following statements about Unified Payments Interface (UPI) and Central Bank Digital Currency (Digital Rupee) is not correct ?
Answer (d) & explanation
Statement (d) is not correct (d). Under UPI, money moves between bank accounts; the deposit is a liability of the bank. The Digital Rupee (e₹) is like a currency note in digital form, a direct liability of the RBI, not of users or banks. Option (a) is correct: UPI is a payment system, while the e-rupee is sovereign currency. Option (b) is correct: an e-rupee transfer moves value from wallet to wallet with no separate settlement. Option (c) is correct: e-rupee wallet transactions do not appear in bank statements.
Notice the legal base: the RBI Act was amended in 2022 to let the RBI issue a CBDC. Pilots began that year in wholesale (e₹-W) and retail (e₹-R) forms.
a "not correct" question. Look for the statement that puts the RBI's liability on someone else.
Answer as per the official UPSC answer key.
Which of the following statements about Real-World Assets (RWA) Tokenization are correct ?
- 1. Tokenization is the process of turning real world assets into digital tokens using blockchain technology.
- 2. Tokenization of real world assets offers 24x7 access, promoting financial inclusion.
- 3. Tokenization of real world assets will allow the access to high growth investment opportunities for individuals in India.
Select the answer using the code given below :
Answer (a) & explanation
All three statements are correct (a). Statement 1 is right: tokenization turns a real asset, like a building, bond or gold, into digital tokens recorded on a blockchain. Statement 2 is right: tokens can be traded 24x7, which widens financial inclusion. Statement 3 is right: small, fractional tokens let ordinary individuals get into high-growth investments that once needed crores. So options (b), (c) and (d) fail.
Notice the risks: unclear regulation, cyber threats and weak investor protection. In India, related steps include Fractional Ownership Platforms and REITs and InvITs, which already let small investors own slices of real estate and infrastructure. The RBI is also testing tokenized deposits and government securities in sandbox pilots.
Answer as per the official UPSC answer key.