Economics CLAT Flashcards

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1
Q

National Rural Employment Guarantee Programme was launched in:

A

2006 (passed in 2005)

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2
Q

A second round of nationalization of six commercial banks was done in ______

A

1980

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3
Q

In which year was the Aam Adami Bima Yojana launched?

A

2007

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4
Q

The largest producer and consumer of black tea in the world is:

A

India

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5
Q

Who is the author of the book ‘Planned Economy for India’?

A

M. Visvesvaraya

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6
Q

In 1945, the ‘People’s Plan ‘ for the development of economy was presented by:

A

MN Roy

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7
Q

The first five year plan of India began on:

A

April 1, 1951

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8
Q

Which state has the highest production of Rice?

A

West Bengal

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9
Q

Which of the following Five Year Plan was called The Rolling Plan?

A

Sixth Five Year Plan

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10
Q

Chelliah Committee constituted in 1991 gave recommendations on:

A

reform in tax structure

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11
Q

The fourteenth Finance Commission of India has been constituted under the Chairmanship of:

A

Dr Y.V Reddy

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12
Q

Mid-Day Meal, the largest school lunch programme in the world was launched in:

A

1995

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13
Q

Bharat Nirman was launched by the Government of India in:

A

2005

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14
Q

Janani Suraksha Yojana, which was introduced in 2005 covers:

A

all women of above 19 years age belonging to families below poverty line

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15
Q

The rate at which the central bank lends short term money to banks against government securities is:

A

Repo rate

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16
Q

The percentage of cash required to be kept in reserves, vis-a-vis a bank’s total deposits, is called the _________

A

Cash Reserve Ratio

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17
Q

As per Census 2011 of India, India’s population growth rate during 2001-11 stood at:

A

17.64%

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18
Q

What is meant by Disposal Personal Income?

A

Personal Income – Direct taxes

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19
Q

Which state is known as the Rice Bowl of India?

A

Andhra Pradesh

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20
Q

RBI keeps repo rate, reverse repo rate unchanged at:

A

Repo rate 4% and Reverse repo rate 3.35%

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21
Q

As per Census 2011 of India child sex ratio of India is:

A

914

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22
Q

Yellow revolution is associated with:

A

Oil seed production

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23
Q

Land Development Bank provides:

A

Long term loan

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24
Q

Wheat is a ______ crop

A

Rabi

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25
Q

Zayad crops are sown in the month of:

A

March

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26
Q

In India, financial year is counted from:

A

1st April to 31st March

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27
Q

The RBI currently follows a _________ financial year.

A

July-June

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28
Q

M. Damodaran committee is associated with:

A

Banking reform

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29
Q

What is Bull Market?

A

Where ppl buy shares in anticipation of rising prices

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30
Q

First Jute factory was established in India in:

A

Rishara in West Bengal

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31
Q

World’s largest producer and exporter of uranium?

A

Kazakhstan

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32
Q

Which five year plan is known for its complete failure?

A

Third Five Year Plan

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33
Q

US-based Mellon Bank created the first bad bank in:

A

1988

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34
Q

World Bank President

A

David Malpass

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35
Q

largest importer out of whole volume of trade:

A

USA

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36
Q

‘Blue Chip’ is concerned with such equity shares ___

A

whose purchase is extremely safe

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37
Q

FICCI President (for 2020-21)

A

Uday Shankar

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38
Q

SDR (paper gold) is associated with which organisation

A

International Monetary Fund (IMF)

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39
Q

The Imperial Bank, was later known as:

A

the State Bank of India

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40
Q

A market is called Buyer’s Market when:

A

the demand of good is less than supply

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41
Q

current CRR

A

4%

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42
Q

The FDI flows into the _________ market

A

primary

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43
Q

FIIs are ______-term investments

A

short term

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44
Q

_________ is when inflation increases at a slower rate

A

disinflation

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45
Q

‘Tech for Tribals’ programme is an initiative of:

A

TRIFED, supported by Ministry of MSME

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46
Q

Debt Service Suspension Initiative is an initiative of:

A

G20

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47
Q

Plastic Park Scheme is under:

A

M/o Chemicals and Fertilisers

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48
Q

NBFCs are often called:

A

shadow banks

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49
Q

MICR code has ___ digits, uniquely identifies the bank

A

9 digit code

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50
Q

Funds gathered by Elephant bonds are used to:

A

utilised to finance Infrastructure projects only.

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51
Q

Which is the bank that is launching the digital banking platform “Merchant Stack”?

A

ICICI Bank

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52
Q

Simultaneous purchase and sale of government securities under OMOs is popularly known as:

A

Operation twist

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53
Q

Who is the current MD and CEO of the Bombay Stock Exchange (BSE)?

A

Ashishkumar Chauhan (Ashish Chauhan)

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54
Q

India’s Fiscal deficit for 2020-21 was at ___ per cent or ₹18.21 lakh crore of the gross domestic product (GDP)

A

9.3%

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55
Q

The Reserve Bank of India was nationalised with effect from 1st January, ______

A

1949

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56
Q

The Reserve Bank of India will transfer a surplus of _________ to the central government

A

Rs 99,122 crore (second-highest ever)

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57
Q

In the _________ fiscal year, the RBI had transferred Rs 1.76 lakh crore to the central govt (highest ever)

A

2018-19

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58
Q

Which South Asian country has recently overtaken India in terms of per capita income?

A

Bangladesh (Sri Lanka has the highest in South Asia)

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59
Q

_________ is an Indian economist and the current Chief Economic Adviser to the Government of India

A

Krishnamurthy Venkata Subramanian

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60
Q

The maximum amount of government revenue comes from: (acc to Budget 2021)

A

Borrowings and other liabilities (36%)

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61
Q

Practice of trading on the stock exchange to one’s advantage through having access to confidential info:

A

insider trading

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62
Q

Provision of Urban Amenities to Rural Areas (PURA) is a concept was given by:

A

former president Dr. A.P.J. Abdul Kalam

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63
Q

Which one of the Cellular Mobile Phone companies had taken up the initiative ‘Save our Tigers’?

A

Aircel

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64
Q

_________ is India’s first genetically modified crop, to be approved for commercialization.

A

Bt cotton

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65
Q

The Goldman Sachs Group, Inc. is an American multinational _________

A

investment bank

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66
Q

SEBI in 2014 de-recognised which Stock Exchange on allegations of serious irregularities in its functioning?

A

Delhi Stock Exchange

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67
Q

Former Prime minister of India P V Narasimha Rao launched Look East policy in which year?

A

1992

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68
Q

Act East Policy was unveiled at the 12th ASEAN-India Summit in 2014 held in _________

A

Myanmar

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69
Q

India became a dialogue partner of ASEAN in 1996 and summit level partner in 2002; Strategic Partnership in _

A

2012

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70
Q

RBI has decided to conduct SLTRO of Rs 10,000 crore at repo rate for small finance banks for fresh lending of up to _________ per borrower.

A

Rs. 10 lakh

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71
Q

Borrowers w aggregate exposure of upto ___ who haven’t availed restructuring under earlier framework will be considered under Resolution Framework 2.0

A

Rs 25 crore

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72
Q

A challenge posed by the second wave of covid-19 in India is that consolidated public debt will approach ___ per cent of GDP.

A

90%

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73
Q

A challenge posed by the second wave of covid-19 in India is that the consolidated public sector borrowing requirements are budgeted above ___ of GDP in FY22

A

11 per cent

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74
Q

A note of what denomination was the first paper currency issued by RBI in January 1938? It had the portrait of George VI.

A

Rs 5 note

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75
Q

Though the GST council is required to meet once every _________, the last meeting was held in October last year

A

once every quarter

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76
Q

Di-ammonium phosphate fertilisers are the second most popular in India after ______, and the govt decided to increase the subsidy on them by 140%.

A

urea

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77
Q

Electoral bonds are issued by _________ in denominations of Rs 1,000, Rs 10,000, Rs 1 lakh, Rs 10 lakh and Rs 1 crore

A

the SBI

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78
Q

Public Enterprises Selection Board has picked _________ as the CMD of state-run Bharat Petroleum Corporation Ltd (BPCL).

A

Arun Kumar Singh

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79
Q

Which Small Finance Bank has announced the launch of the “I choose my number” feature for all its customers across India?

A

Jana Small Finance Bank

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80
Q

The _________ launched an Asia Pacific Tax Hub to create an open and inclusive platform to promote strategic policy dialogue, improve knowledge sharing

A

Asian Development Bank (ADB)

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81
Q

_________ aims to launch digital currency pilot later this year with a single stablecoin pegged to the U.S. dollar

A

Facebook-backed Diem Association

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82
Q

SWAMIH Fund to deliver over 6,000 housing units by end of FY22. Who is the manager for the government’s Rs 25,000-crore stressed-asset fund?

A

SBICAP Ventures

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83
Q

The Ministry of _________ has launched the Horticulture Cluster Development Programme (CDP) in order to promote the export of horticultural produce.

A

Ministry of Agriculture and Farmers Welfare

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84
Q

India recorded a rise in gross domestic product of ___% in the final three months of 2020, compared with the same period a year earlier

A

0.4%

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85
Q

The eight core sector industries include coal, crude oil, natural gas, _________, fertiliser, steel, cement and electricity

A

refinery products (FRENS 3C)

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86
Q

Indian economy achieved the highest growth rate of 8% during the _________ Five Year Plan, under the leadership of Manmohan Singh.

A

Eleventh Five Year Plan

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87
Q

Although being a poor country, India is still the world’s ______-largest economy by nominal GDP and the third largest by purchasing power parity (PPP)

A

fifth

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88
Q

The central bank has scaled down the FY22 (2021-22) gross domestic product (GDP) growth to ___ per cent as against the previous projection of 10.5 per cent

A

9.5%

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89
Q

Which bank has become the first to go live as a ‘Financial Information Provider’ (FIP) under the new ‘Account Aggregator Framework’ of RBI?

A

IndusInd Bank

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90
Q

_________ became the 1st PSU in the country to be wound up under the purview of Companies Act through the National Companies Law Tribunal (NCLT)

A

UP State Mineral Development Corporation (UPSMDC)

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91
Q

Green Climate Fund was established formally as a financing mechanism by UNFCCC in ______, it is headquartered in the Songdo district in South Korea

A

2010

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92
Q

Cabinet has approved proposal for equity infusion by govt of ________ in NIIF Debt Platform - sponsored by the National Investment and Infrastructure Fund (NIIF).

A

Rs. 6000 crores

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93
Q

RBI proposed a minimum equity capital of _________ to set up a small finance bank (SFB) under the ‘on tap’ licence regime

A

Rs 200 crore

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94
Q

India’s first Lithium refinery which will process Lithium ore to produce battery-grade material will be set up in which state?

A

Gujarat

95
Q

The country’s foreign exchange reserves crossed the _________ mark for the first time after increasing by $6.842 billion in the week ended June 4

A

$600 billion

96
Q

Gift tax is a ______ tax. Gift tax in India is regulated by the Gift Tax Act which was constituted on 1st April 1958

A

direct

97
Q

PM CARES for Children includes various measures such as a scheme to create a corpus of _________ when the beneficiary child turns 18 years old

A

₹10 lakh

98
Q

RBI imposes Rs 10 crore penalty on _________, after examining a complaint by a whistleblower regarding irregularities in the auto loan portfolio of the lender.

A

HDFC Bank

99
Q

_________ is the world’s first bitcoin chess champion after overcoming Wesley So in a thrilling FTX Crypto Cup final

A

Magnus Carlsen

100
Q

The Ministry of _________ announced additional benefits for workers through social securities schemes run by the EPFO and the ESIC amid the pandemic.

A

M/o Labour and Employment

101
Q

The Centre would provide Rs. 50 lakh medical insurance cover for _________ under PM Garib Kalyan Package

A

health workers

102
Q

“_________, Acting Director-General for Health, Ministry of Health of Kenya has been appointed as the Chair of WHO Executive Board,” Vardhan said.

A

Dr Patrick Amoth

103
Q

The Indian Govt planned to boost the production of petroleum by mixing ethanol with petrol to produce biodiesel. This led to the ______ revolution

A

Black Revolution

104
Q

_________ is the financial turnaround and revival package for electricity distribution companies of India (DISCOMs) initiated by the Government of India

A

Ujjwal DISCOM Assurance Yojana (UDAY)

105
Q

_________ (Prime Minister’s Food Security Scheme for the Poor) is a food security welfare scheme announced by the Government of India in March 2020

A

Pradhan Mantri Garib Kalyan Anna Yojana

106
Q

Union Minister of Finance presented the Economic Survey. The foundational theme of the survey is “_________”

A

Saving Lives and Livelihoods

107
Q

India- Asia’s ______ biggest economy- recorded a rise in GDP of 0.4% in the final three months of 2020, compared with the same period a year earlier

A

third

108
Q

The Direct Tax ‘_________’ Act, 2020 was enacted on March 17, 2020, with the objective to reduce pending income tax litigation

A

Vivad se Vishwas

109
Q

The first ATM in India was set up in 1987 by ______ in Mumbai. In the following twelve years, about 1500 ATMs were set up in India

A

HSBC

110
Q

Central Bank of India was the first public bank to introduce Credit card. ______ is the first bank to provide mobile ATM

A

ICICI

111
Q

Cloudtail is one of the biggest sellers on Amazon India and is a joint-venture between Infosys co-founder NR Narayana Murthy’s ___ and Amazon India.

A

Catamaran Ventures

112
Q

Cloudtail is owned by a holding company _________, which is owned 76 per cent by Catamaran Venutures and 24 per cent by Amazon.

A

Prione Business Services

113
Q

The RBI has paved the way for a joint venture of Centrum and BharatPe to take over the troubled _________

A

Punjab and Maharashtra Co-operative (PMC) Bank

114
Q

When RBI sacked the board of PMC Bank in ______, it initially slapped a deposit withdrawal restriction of Rs 1,000 per account which was later increased

A

2019

115
Q

Europe’s tiny _________ formally joined the International Monetary Fund, becoming the crisis lender’s 190th member state

A

Andorra

116
Q

As per the Reserve Bank of India , the projected GDP growth rate of the Indian economy for the 2021-2022 period is ______.

A

10.5% (now scaled down to 9.5%)

117
Q

In ______, Basel III guidelines were released. These guidelines were introduced in response to the financial crisis of 2008.

A

2010

118
Q

The Union Budget provides 64,180 crore outlay over 6 years for _________ – a new centrally sponsored scheme to be launched

A

PM AatmaNirbhar Swasth Bharat Yojana

119
Q

Acc to the Union Budget, _________ is to be launched, merging the Supplementary Nutrition Programme and the Poshan Abhiyan

A

Mission Poshan 2.0

120
Q

According to the Union Budget, Rs. 2,87,000 crore over _________ for Jal Jeevan Mission (Urban) - to be launched

A

5 years

121
Q

Acc to the scrapping policy announced in the Budget, Fitness tests in automated fitness centres will be after _________ in case of personal vehicles

A

20 years (After 15 years in case of commercial vehicles)

122
Q

Rs. 5.54 lakh crore capital expenditure in BE 2021-22 – sharp increase of ______ over Rs. 4.12 lakh crore allocated in BE 2020-21

A

34.5%

123
Q

Acc to the Union Budget, 100% electrification of Broad-Gauge routes is to be completed by December, ______

A

2023

124
Q

Western Dedicated Freight Corridor (DFC) and Eastern DFC are to be commissioned by June ______, to bring down the logistic costs

A

2022

125
Q

According to the Union Budget, a comprehensive National Hydrogen Energy Mission _________ is to be launched

A

National Hydrogen Energy Mission 2021-22

126
Q

According to the Union Budget, ___ more districts will be added to the City Gas Distribution network in next 3 years

A

100

127
Q

The Union Budget said the government will infuse _________ into public sector banks (PSBs) in 2021-22 to meet the regulatory norms.

A

₹ 20,000 crore

128
Q

Minimum loan size eligible for debt recovery under the SARFAESI Act, 2002 is proposed to be reduced from Rs. 50 lakh to Rs. 20nlakh for NBFCs with _____

A

minimum asset size of Rs. 100 crore

129
Q

Acc to the Union Budget, other than _________, two Public Sector Banks and one General Insurance
company are to be privatized

A

IDBI Bank

130
Q

Acc to the Union Budget, Rural Infrastructure Development Fund to be enhanced to _________ from Rs. 30,000 crore

A

Rs. 40,000 crore

131
Q

New regulations consolidate 44 labour laws under 4 Codes namely, Wage Code; Social Security Code; _________; and the Industrial Relations Code

A

Occupational Safety, Health & Working Conditions Code

132
Q

Acc to the Budget, legislation to be introduced to setup _________ as an umbrella body for higher education

A

Higher Education Commission of India

133
Q

The Budget allocates Rs. 3000 crore for realignment of existing _________ towards post-education apprenticeship, training of graduates, etc

A

National Apprenticeship Training Scheme (NATS)

134
Q

Budget allocated _________ over five years for Deep Ocean Mission survey exploration and conservation of deep sea biodiversity

A

Rs. 4,000 crore

135
Q

Acc to the Budget, Net borrowing for the states allowed at ___ of GSDP for the year 2021-2022 as per recommendation of 15th FC

A

4%

136
Q

Ease of Doing Business rankings are released by World Bank. India ranked 63, _________ topped and _________ was at the bottom

A

New Zealand, Somalia

137
Q

India has been ranked at the ______ position in the latest edition of the World Bank’s annual Human Capital Index. Which country topped?

A

116th / Singapore topped

138
Q

Who has been re-appointed as the Chairman of the Panel of External Auditors of the United Nations for the year 2021?

A

CAG of India, Girish Chandra Murmu

139
Q

The Central Government has appointed _________ as the new Chief Statistician of India (CSI) for a period of two years. He is India’s fourth CSI

A

Dr G P Samanta

140
Q

Apple will make ______ its European Silicon Design Center, adding hundreds of new employees and a new state-of-the-art facility focused on connectivity

A

Munich

141
Q

Dubai-based ___ has partnered with RAK bank to form the first independent digital banking platform in the UAE

A

YAP

142
Q

_________ in association with the SBI Payments have announced to launch the ‘RuPay SoftPoS’ for millions of Indian merchants

A

National Payments Corporation of India (NPCI)

143
Q

‘Wear N Pay’, is the name of India’s first wearable
contactless payment device that has been launched
by __________.

A

Axis Bank

144
Q

_________ is the world’s biggest wealth gainer so far in 2021, acc to Bloomberg Billionaires Index. He has added $16.2 billion

A

Gautam Adani

145
Q

The _________ is currently the weakest circulating currency, with 1 United States dollar converting to 3,020,510 bolívars as of May 2021

A

bolívar (Venezuela)

146
Q

USA has offered temporary legal residency to the citizens of _________ who have fled their country due to economic collapse there

A

Venezuela

147
Q

_________ released its plan called “2030 Digital Compass Plan”. It was put forward after the pandemic exposed their reliance on Chinese and US tech

A

The European Union

148
Q

Domestic businesses are holding back investments (the second-biggest engine of GDP growth). The third-biggest engine of India’s GDP growth is _________

A

the government

149
Q

Many committees have proposed bringing down the government stake in public banks below 51%. The Narasimham Committee proposed ____%.

A

33% (P J Nayak Committee suggested below 50%)

150
Q

Nirmala Sitharaman recently (June 2021) announced a slew of measures, including _________ credit guarantee scheme for improving health infrastructure

A

Rs 1.1 lakh crore

151
Q

The stimulus package (Jun ‘21) enhances the limit under the ECLGS by ___ per cent to Rs 4.5 lakh crore for the MSME sector facing liquidity crunch

A

50%

152
Q

The previous limit for ECLGS scheme, announced as part of Rs 20-lakh crore Atmanirbhar Bharat Abiyan package in May 2020, was _________

A

Rs 3 lakh crore.

153
Q

Government unveils _________ stimulus post second COVID wave, in June 2021, announced by Nirmala Sitharaman

A

₹6.28 lakh cr

154
Q

Sitharaman also announced (June ‘21) a new ₹7,500 crore scheme to guarantee loans upto _________ to small borrowers through micro-finance institutions.

A

₹1.25 lakh

155
Q

_________ has been allocated for public health with a focus on paediatric care, which will also be utilised for increasing ICU beds, oxygen supply (June’21 package)

A

₹23,220 crore

156
Q

Indirect support for exports worth ₹1.21 lakh crore over the next five years, free _________ visas for five lakh tourists, were also announced in the June ‘21 package

A

one-month visas

157
Q

The first three way merger of the PSU banks was done in 2019 which involved _______ / ______ / _______.

A

Dena Bank / Bank of Baroda/ Vijaya Bank

158
Q

At present how many private banks are there in India

and can you name the latest bank to be privatized?

A

22/ IDBI First Bank

159
Q

Can you identify the Big Four Banks of the Indian economy?

A

SBI / ICICI / HDFC Bank / Bank of Baroda

160
Q

As per the present definition of a PSU Bank, the Govt. must hold a minimum stake of ____ in the bank

A

51%

161
Q

Mission Indradhanush was launched in the year ______ with the main focus on _______.

A

2014/ Immunization

162
Q

How many districts will be covered under the Mission

Indradhanush 3.0?

A

250

163
Q

The main receivers of vaccination under Mission

Indradhanush 3.0 will be _________ & _________

A

Children / Pregnant ladies

164
Q

How many vaccine preventable diseases are catered

under the Mission Indradhanush?

A

12

165
Q

The present campaign of Mission Indradhanush has a goal of fully immunizing _____ of the districts of India

A

90%

166
Q

The first State/ UT to implement the E –Daakhil was

_________

A

Delhi

167
Q

Identify the original act that empowers the protection of the consumers

A

The Consumer Protection Act 1986

168
Q

First President of the National Consumer Disputes Redressal Commission(NCRDC) was:

A

V. Balakrishna Eradi

169
Q

World Consumer Day is celebrated every year on

______.

A

15th March

170
Q

_________ is a career banker and Chairman of the State Bank of India

A

Dinesh Kumar Khara

171
Q

Ex-bureaucrat _________ to join HDFC Bank as part-time chairperson

A

Atanu Chakraborty

172
Q

__ is a window for banks to borrow from the RBI in an emergency situation when inter-bank liquidity dries up

A

Marginal standing facility (MSF)

173
Q

Auction of Government securities is done through _________ system

A

E-kuber

174
Q

The E-kuber system, implemented in ______, is one of the foremost Core Banking Systems in the world

A

2012

175
Q

Technology partner for RBI for launching E-kuber is _________

A

Polaris Ltd.

176
Q

The Ministry of Finance, for ECLGS 4.0, extended the scope of ECLGS 3.0 to cover the _________ sector.

A

Civil Aviation sector

177
Q

Corporate profit share in India’s GDP hit a 10-year high of _________ in the last financial year.

A

2.63 per cent

178
Q

According to Asia money, this Indian bank has been

adjudged as the best SME bank of the country:

A

HDFC Bank

179
Q

This company has launched India’s first market

concentration Indices. Can you name the company?

A

Alt Indices

180
Q

Can you identify the rank of India in the International

Intellectual Property Index?

A

40th

181
Q

India’s first Lithium ion cell unit is coming up at _______ in __________.

A

Mehbubnagar / Telangana

182
Q

What is the core purpose of launching the City Innovation Exchange?

A

To expedite urban innovation

183
Q

The core philosophy of the City Innovation Exchange (CIX) is _____________

A

Everyone is an innovator

184
Q

What is percentage of the small and marginal farmers in the Indian economy presently?

A

86%

185
Q

How many Implementing agencies have been appointed for the promotion of FPOs?

A

Nine (9)

186
Q

What is the full form of ‘CBBO’, that are an important

tool in the FPO development?

A

Cluster Based Business Organizations

187
Q

Youngest person to have become the richest person in the world as per the Hurun Rich List:

A

Elon Musk

188
Q

The rank of Mukesh Ambani in the latest Hurun Rich

List - 2021 is ____.

A

8th

189
Q

Name the French Billionaire who heads the LVMH and is placed at 3rd rank in the Hurun Rich List 2021?

A

Bernard Arnault

190
Q

PMJAY along with ________ are the two major

components of Ayushman Bharat.

A

Health & Wellness Centers

191
Q

The year of launch of Pradhan Mantri Jan Arogya Yojana (PMJAY) was ________.

A

2018

192
Q

The insurance cover provided for one family in PMJAY is ______

A

Rs 5 lakh

193
Q

The hospital coverage in PMJAY includes __ days of pre hospitalization and _ days of post hospitalization.

A

3 / 15

194
Q

the image based Cheque Truncation System (CTS) is to be implemented across the country by:

A

September 30, 2021

195
Q

Cheque Truncation System (CTS) or Image-based Clearing System (ICS), commenced in ______

A

2010

196
Q

___ is an online image-based cheque clearing system undertaken by the RBI for faster clearing of cheques

A

Cheque Truncation System (CTS)

197
Q

The digital tax of ___ introduced in April 2020, applies only to non-resident companies with annual revenues (turnover) in excess of _________

A

2% / ₹2 crore

198
Q

Name of the segment of the economy and the percentage of the FDI that it received as a part of the total FDI received in FY2020-21?

A

Computer Software and Hardware segment /44%

199
Q

This Indian state received the highest FDI in India, with a share of 37%. Can you identify the name of the state in question?

A

Gujarat

200
Q

This country was the biggest contributor of FDI in
India in the year 2021. Can you identify the country
and the %age contribution of the country?

A

Singapore / 29%

201
Q

Can you identify the amount of Foreign Direct Investment inflow in India during the Financial Year 2021?

A

$81.72 billion

202
Q

Shri _________ is the Managing Director & CEO of BSE (Bombay Stock Exchange), the first stock exchange of Asia.

A

Ashishkumar Chauhan

203
Q

The Fugitive Economic Offenders Act was passed by the Lok Sabha and the Rajya Sabha in ______ and it received presidential assent the same year

A

2018

204
Q

In order to declare an individual a ‘fugitive economic offender’, an application should be filed in a Special Court designated under the:

A

Prevention of Money-Laundering Act, 2002.

205
Q

India was one of the first countries to introduce a 6% equalisation levy in ______, but the levy was restricted to online ad services

A

2016

206
Q

US announced ___ tariffs on over $2 billion worth of imports from six countries over their digital services taxes, but immediately suspended the duties

A

25%

207
Q

Who published a report concluding that the 2% digital services tax introduced by the Indian govt discriminates against US businesses?

A

United States Trade Representative (USTR)

208
Q

India expanded the scope of the existing equalization levy to a range of digital services. Any payment made by non-residents in connection w an Indian user will:

A

attract a 2% levy.

209
Q

Wrt Digital Services Tax (DST), any company that has a _________ in India is excluded since it is already subject to tax in India.

A

permanent residence

210
Q

The agenda to reform international tax law so that digital companies are taxed where economic activities are carried out was formally framed within the:

A

OECD’s base erosion and profit shifting program.

211
Q

_________ refers to tax avoidance strategies that exploit gaps and mismatches in tax rules to artificially shift profits to low or no-tax locations.

A

Base erosion and profit shifting (BEPS)

212
Q

Digital Services Tax (DST) was severely criticized by many countries as a unilateral measure that would result in _________.

A

double taxation

213
Q

Experts suggest that DST can be passed on to consumers. While the Indian customer may not pay this as a tax, this could mean _________.

A

higher prices

214
Q

The USTR investigations on digital services tax (DST) could pose a threat of _________ tariffs, as similar tariffs were imposed by the US on France.

A

retaliatory tarriffs

215
Q

The task force headed by __________ on National Infrastructure Pipeline (NIP), in May 2020, submitted its final report to the Finance Minister.

A

Atanu Chakraborty

216
Q

Acc to the task force, investment of _________ over the next five years (2020-2025) is needed to build infrastructure projects and drive economic growth.

A

₹111 lakh crore

217
Q

What is the expected share of the Centre, State and Private sector in implementing the National Infrastructure Pipeline (NIP) in India?

A

39:40:21

218
Q

Which has become the first state in India to have its own Economic Advisory Council?

A

Tamil Nadu

219
Q

TN’s Economic Advisory Council will have 5 members including former Chief Economic Advisor _________ and development economist _________

A

former Chief Economic Advisor Arvind Subramanian

development economist Jean Dreze

220
Q

The bad bank is _________ (involved/not) in lending and taking deposits, but helps commercial banks clean up their balance sheets and resolve bad loans.

A

not involved (RBI Governor has agreed to look at a proposal for creating a Bad Bank)

221
Q

RBI noted in its recent FSR that the gross NPAs of the banking sector are expected to shoot up to ______% by September 2021, from ___% in September 2020.

A

from 7.5% in September 2020

to 13.5% by September 2021

222
Q

In ________, the National Asset Management Agency was established in ______ to respond to the financial crisis.

A

Ireland

2009

223
Q

A 2021 ___ survey of central banks found that ___ are actively researching the potential for central bank digital currency (CBDCs)

A
BIS survey (The Bank for International Settlements)
86% of central banks
224
Q

Singapore topped the global ranking for the second year in a row in the latest Economic Freedom Index published by:

A

US conservative think-tank, The Heritage Foundation.

Globally, it rates India’s economy as the 121st freest

225
Q

In 2012, India brought in legislation mandating retrospective tax demands over deals going back to 1962 in which: (related to Cairn Energy dispute)

A

shares in non-Indian companies were transferred to an Indian holding company.

226
Q

In ______, Cairn made a bid to consolidate its Indian assets under a holding company, which was called _________.

A

2006

Cairn India Limited

227
Q

When Cairn India divested roughly 30% of its shares through an _________, mining conglomerate _________ acquired most of Cairn Energy

A

Initial Public Offering

Vedanta Plc

228
Q

Indian tax officials said that capital gains tax of _________ is payable by Cairn UK for the transactions in ______

A

over Rs 6,000 crore

2006

229
Q

SC had ruled against the retrospective reading of the law by tax officials in the case of _________. However, Parliament passed a law mandating:

A

Vodafone

retrospective taxation over “transfer of Indian assets.”

230
Q

This retrospective taxation, Cairn argued, was in breach of the _________ which obligated India to treat investment from UK in a “fair and equitable manner”

A

UK-India Bilateral Investment Treaty

Signed in 1994

231
Q

In Dec last year, a _____-member international arbitral tribunal ruled unanimously that the Indian government was “in breach of the guarantee of fair and equitable treatment” and ordered compensation of _________.

A

three member

$1.2 billion

232
Q

Since the arbitration award of $1.2 billion (Cairn Energy case) was delivered in ______, India has moved an appeal in _________

A

Hague

the Netherlands

233
Q

A similar arbitration verdict was delivered in Sep last year in favour of ________. The award requires India to pay _________ as partial compensation.

A

British telecom company Vodafone

$5.47 million

234
Q

_________, CEO of BuyUCoin said that the government should note that Indians had already invested around _________ into crypto assets.

A

Shivam Thakral

$1.5 billion