The Payment of Wages Act was introduced in: ?->(Show Answer!)

1. The Payment of Wages Act was introduced in:

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MCQ-> Read the following passage carefully and answer the questions given below it. Certain words have been printed in bold to help you locate them while answering some of the questions.Delays of several months in National Rural Employment Guarantee Scheme (NREGS) wage payments and work sites where laborers have lost all hope of being paid at all have become the norm in many states. How are workers who exist on the margins of subsistence supposed to feed their families? Under the scheme, workers must be paid writhing 15 days, failing which they are entitled to compensation under the Payment of Wages Act-upto Rs. 3,000 per aggrieved worker. In reality, compensation is received in only a few isolated instances.It is often argued by officials that the main reason for the delay is the inability of banks and post offices to handle mass payments of NREGS wages. Though there is a grain of truth in this, as a diagnosis it is misleading. The ‘jam’ in the banking system has been the result of the hasty switch to bank payments imposed by the Central Government against the recommendation of the Central Employment Guarantee Council which advocated a gradual transition starting with villages relatively close to the nearest bank.However delays are not confined solely to the banking system. Operational hurdles include implementing agencies taking more than fifteen days to issue payment orders, viewing of work measurement as a cumbersome process resulting in procrastination by the engineering staff and non-maintenance of muster rolls and job cards etc. But behind these delays lies a deeper and deliberate ‘backlash’ against the NREGS. With bank payments making it much harder to embezzle NREGS funds, the programme is seen as a headache by many government functionaries-the workload has remained without the “inducements”. Slowing down wage payments is a convenient way of sabotaging the scheme because, workers will desert NREGS work-sites.The common sense solution advocated by the government is to adopt the business correspondent model wherein bank agents will go to villages to make cash payments and duly record them on handheld electronic devices. This solution is based on the wrong diagnosis that distance separating villages from banks is the main issue. In order to accelerate payment, clear timeliness for every step of the payment process should be incorporated into the system as Programme Officers often have no data on delays and cannot exert due pressure to remedy the situation. Workers are both clueless and powerless with no provision for them to air their grievances and seek redress. In drought affected areas the system of piece rate work can be dispensed with, where work measurement is not completed within a week and wages may be paid on the basis of attendance. Buffer funds can be provided to gram panchayats and post offices to avoid bottlenecks in the flow of funds. Partial advances could also be considered provided wage payments are meticulously tracked. But failure to recognize problems and unwillingness to remedy them will remain major threats to the NREGS.Which of the following factors has not been responsible for untimely payment of NREGS wages?
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MCQ-> Answer the questions based on the information given below: Madhubala Devi, who works as a domestic help, received Rs. 2500 as Deepawali bonus from her employer. With that money she is contemplating purchase of one or more among 5 available government bonds - A, B, C, D and E. To purchase a bond Madhubala Devi will have to pay the price of the bond. If she owns a bond she receives a stipulated amount of money every year (which is termed as the coupon payment) till the maturity of the bond. At the maturity of the bond she also receives the face value of the bond. Price of a bond is given by: $$P=[\sum_{t=1}^T\frac{C}{(1+r)^{t}}]+\frac{F}{(1+r)^{t}}$$ where C is coupon payment on the bond. which is the amount of money the holder of the bond receives annually; F is the face value of the bond, which is the amount of money the holder of the bond receives when the bond matures (over and above the coupon payment for the year of maturity); T is the number of years in which the bond matures; R = 0.25, which means the market rate of interest is 25%. Among the 5 bonds the bond A and another two bonds mature in 2 years, one of the bonds matures in 3 years, and the bond D matures in 5 years. The coupon payments on bonds A, E, B, D and C are in arithmetic progression, such that the coupon payment on bond A is twice the common difference, and the coupon payment on bond B is half the price of bond A. The face value of bond B is twice the face value of bond E, but the price of bond B is 75% more than the price of bond E. The price of bond C is more than Rs. 1800 and its face value is same as the price of bond A. The face value of bond A is Rs. 1000. Bond D has the largest face value among the five bonds.The face value of bond E must be
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MCQ-> Answer the questions based on the following information. The following bar diagram represents the number of daily wages (in rupees) of 100 labourers in different wage classes on a construction site. Here the class interval a-b includes all wages (in rupees) greater than or equal to a and less than b except for the interval 360-400, where both the end points are included. No.of labourers

Wages in RupeesThe number of labourers receiving at least 320 is:
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