Human Resource Management

• Chronological Milestones in Indian Agricultural Policy:
• Grow More Food Campaign $\rightarrow$ 1942: Launched by the British Indian Government during World War II (and intensified post-Bengal Famine 1943, and re-launched in 1947-48) to boost food production through seed distribution and minor irrigation.
• Minimum Support Price (MSP) $\rightarrow$ 1966-67: Introduced during the onset of the Green Revolution based on the recommendations of the Agricultural Prices Commission (APC, established in January 1965, later renamed CACP) to ensure price security for wheat and paddy growers.
• Regional Rural Banks (RRB) Act $\rightarrow$ 1976: Enacted by Parliament following the Narasimham Working Group recommendations (preceded by the RRB Ordinance of September 26, 1975; first RRB Prathama Bank founded October 2, 1975).
• NABARD Act $\rightarrow$ 1981: The National Bank for Agriculture and Rural Development Act was passed in 1981 (based on the B. Sivaraman Committee recommendations), and NABARD was formally dedicated to the nation on July 12, 1982.
• Correct Chronological Sequence: (A) 1942 $\rightarrow$ (B) 1966-67 $\rightarrow$ (D) 1976 $\rightarrow$ (C) 1981, corresponding to Option 2.

Correct option: (2) (A), (B), (D), (C)

• Continuous Inventory System (Fixed-Order-Quantity System):
• In a Continuous Inventory System (or perpetual inventory system, $Q$-system), the inventory level is tracked on an ongoing real-time basis after every transaction.
• Whenever the physical inventory drops to a predetermined Reorder Point ($ROP$), a fixed order quantity (typically the Economic Order Quantity - EOQ) is automatically placed.
• Distractors:
• Periodic Inventory System ($P$-system): Reviews inventory at fixed regular calendar intervals (e.g., weekly or monthly) and places orders of varying size to restore stock to a target level.

Correct option: (3) Continuous Inventory System

• Ansoff Growth Matrix Strategies:
• Formulated by Igor Ansoff (1957), the product-market growth matrix categorizes four strategies:

• Market Penetration: Existing products in existing markets.
• Market Development: Existing products in new markets (geographic expansion, new target demographic segments).
• Product Development: New products in existing markets.
• Diversification: New products in new markets.
  • In organizational strategic typologies, entering new markets with existing offerings is an expansionary corporate growth strategy.

• Fringe Benefits / Perquisites:
• In Human Resource Management, fringe benefits (perquisites) encompass supplementary non-wage/non-salary compensation packages provided to employees to enhance their social security, well-being, and job commitment.
• Typical fringe benefits include provident fund (PF) matching contributions, gratuity, comprehensive group health insurance, medical reimbursement, accident insurance, subsidized cafeteria/mess facilities, uniforms, and recreational programs.
• Distractors:
• Wages and Salary: Fixed core contractual financial compensation paid directly for work performed.
• Incentives: Variable performance-linked monetary rewards (bonuses, piece-rate incentives).
• Allowances: Specific cash additions to base pay for designated expenses (House Rent Allowance - HRA, Dearness Allowance - DA).

Correct option: (4) Fringe benefits/perquisites