• Tax Incidence and Elasticity:
• The division of an excise tax burden between consumers and producers depends on the relative elasticities of demand ($E_d$) and supply ($E_s$):

• 100% Tax Borne by Consumers: Occurs when demand is completely inelastic ($E_d = 0$, consumers must buy regardless of price) OR when supply is perfectly elastic ($E_s = \infty$) and demand is inelastic, forcing sellers to pass on the full tax increment in higher market prices without absorbing any share.
• Therefore, when demand is inelastic and supply is perfectly elastic, the whole tax burden falls upon the consumer.

Correct option: (3) the demand for a commodity is inelastic and supply is perfectly elastic

• Regional Rural Banks (RRBs):
• Regional Rural Banks (RRBs) were established under the RRB Act, 1976 (following the Narasimham Committee recommendations) specifically to synthesize the strengths of both banking models:
• Commercial Banks: Professional banking expertise, modern accounting standards, deposit mobilization power, and administrative discipline.
• Cooperative Banks: Deep local rural presence, low-cost operations, grassroots touch, and intimate familiarity with local farming realities.
• Equity ownership is shared: 50% Central Government, 15% State Government, and 35% Sponsor Commercial Bank.

Correct option: (2) RRBs

• OECD-DAC Project Evaluation Criteria:
• Established by the Development Assistance Committee of the Organisation for Economic Co-operation and Development (OECD-DAC), the internationally accepted five core evaluation criteria for development projects are:

• Relevance: Is the intervention doing the right things?
• Effectiveness: Is the intervention achieving its stated objectives?
• Efficiency: How well are resources being used?
• Impact: What broader long-term difference does the project make?
• Sustainability: Will the benefits last after funding ceases?
  • Conclusion: Option 1 represents the standard OECD-DAC five-criteria framework.