Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

economics > Economics current > Flashcards

Economics current Flashcards

1
Q

the ____________ published an annual report titled “State Finances: A Study of Budget of
2023-24”. The theme of the Report is ____________

A

Reserve Bank of India
‘Revenue Dynamics and Fiscal Capacity of Indian States’.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Central Government’s Public Debt stood at ___ % of GDP as of the end of March 2023.
o General Government Debt was ______of GDP in 2022-23.
= General Government Debt represents the indebtedness of the Government sector (Central, State
Governments and UTs with legislature).
o Internal Debt constituted _____% of Public Debt

A

57.1
81%
94.6

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

___________ releases its annual International Debt Report (IDR), 2023

India’s debt service was ___ of the GNI in 2022

A

World Bank
2%

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

The 50th GST council meeting imposed a GST of _____ on online gaming, horse racing and casinos, on the initial amount paid upon entry. A TDS of _____ is deducted from the winnings in both game types.

A

28%, 30%

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Changes Introduced Central Goods and Services Tax (Second Amendment) (CGST) Act,
2023.
o Change in qualification for members of GSTAT: Allows advocates with at least 10
years of experience to be appointed as judicial member. They must have substantial
experience in matters relating to indirect taxation.
Minimum age to be appointed as a member or president of GSTAT will be _________
o Increases age limit for president of GSTAT ,
_____________and for members
____________

A

50
years.
from 67 to 70 years

from 65 to 67 years

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Incremental Cash Reserve Ratio (ICRR): I-CRR is similar to the CRR, wherein banks need to set aside a
certain portion of their money with the RBI.

do they earn any interest on this. ???_________

It has following differences-
o RBI has the option to impose ICRR in addition to the CRR.
o The interest rate charged would be different from CRR.

A

NO

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Name of two committee that inquired into transfer of surplus of RBI to Govt

A

However, after Malegam Committee (2013) recommendations and later under revised Economic Capital
Framework (2014-15) by Bimal Jalan committee, its transfer of surplus to government increased.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

__________ has launched Investor Risk Reduction Access
(IRRA) platform at _______ Stock Exchange

A

Securities and Exchange Board of India (SEBI)
Bombay

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

SEBI has halved the time for IPO listing of companies from_____days to ____ days.

A

six ,three i.e.,
from T+6 to T+3

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

BRSR
(Business Responsibility and Sustainability Report) Core

What is the purpose of the BRSR Core – Framework introduced by SEBI?
a) Ensuring financial transparency in listed companies.
b) Providing guidelines for environmental conservation.
c) Assuring ESG disclosures for the value chain in a standardized manner.
d) Promoting shareholder activism

What does ESG stand for?
a) Economic, Social, and Governance.
b) Environmental, Societal, and Governance.
c) Environmental, Social, and Governance.
d) Ethical, Societal, and Governance.

Which entities are required to make ESG disclosures for the value chain according to SEBI’s regulations?
a) All listed companies.
b) The top 100 listed entities.
c) The top 250 listed entities.
d) Only companies in the manufacturing sector.

A

C
C
C

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Dabba trading has been recognised as an offence under _______ act

A

Securities Contracts (Regulation) Act (SCRA), 1956

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

What is the primary objective of the Corporate Debt Market Development Fund (CDMDF)?
a) To regulate corporate debt markets in India.
b) To purchase investment-grade corporate debt securities during market stress.
c) To provide liquidity support to banks.
d) To invest in government securities.

What does investment grade refer to in the context of corporate debt securities?
a) The quality of a company’s credit rated below ‘BBB’.
b) The quality of a company’s credit rated ‘BBB’ or higher.
c) The length of time until maturity of the debt securities.
d) The interest rate paid on the debt securities.

Who regulates the corporate debt market in India?
a) Reserve Bank of India (RBI)
b) Securities and Exchange Board of India (SEBI)
c) Ministry of Finance
d) National Stock Exchange (NSE)

What was the percentage of outstanding corporate bonds in India as a percentage of GDP in March 2022?
a) Around 5%
b) Around 10%
c) Around 17%
d) Around 25%

A

B
B
B
C

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

What is the primary objective of establishing an Investor Protection Fund (IPF)?
a) To generate profits for stock exchanges and depositories.
b) To protect the interests of participants like stockbrokers and investors.
c) To regulate the financial markets.
d) To facilitate trading of financial instruments.

Which entities are required to establish an IPF according to SEBI guidelines?
a) Only stock exchanges.
b) Only depositories.
c) Both stock exchanges and depositories.
d) Mutual funds.

A

B
C

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

___% of listing fees on stock market is contributed to IPF (Investor Protection Fund)

Depositories * ____% of their profits from depository
operation in IPF

A

1
5

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

What is the primary objective of the Investor Services Fund (ISF)?
a) To generate profits for stock exchanges.
b) To provide services such as investor education and awareness programs.
c) To fund the operations of stock exchanges.
d) To invest in securities on behalf of investors.

Who oversees the Investor Services Fund (ISF)?
a) Securities and Exchange Board of India (SEBI).
b) Regulatory Oversight Committee.
c) Ministry of Finance.
d) Stock exchanges.

How is the ISF funded?
a) Through contributions from SEBI.
b) Through grants from the government.
c) By allocating a portion of listing fees received by stock exchanges.
d) All of the above.

What happens to the unutilized balance in the ISF if a stock exchange or depository is wound up?
a) It remains with the stock exchange or depository.
b) It is transferred to SEBI’s Investor Protection and Education Fund (IPEF).
c) It is distributed among the investors.
d) It is refunded to the government

At least ______ of the corpus should be spent in Tier II & Tier III citie

A

b) To provide services such as investor education and awareness programs.
b) Regulatory Oversight Committee.
d) All of the above.
b) It is transferred to SEBI’s Investor Protection and Education Fund (IPEF)

50%

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

What is the primary purpose of the Social Stock Exchange (SSE)?
a) To facilitate trading of cryptocurrencies.
b) To help Social Enterprises raise funds from the public.
c) To regulate the stock market.
d) To provide financial services to high-net-worth individuals.

What funding options are available for Non-Profit Organizations (NPOs) on the SSE?
a) Issuance of Equities and debt instruments.
b) Donations through Mutual funds.
c) Issuance of Zero Coupon Zero Principal (ZCZP) bonds.
d) All of the above.

What is the primary feature of Zero Coupon Zero Principal (ZCZP) bonds?
a) They offer high interest rates.
b) They offer tax benefits to investors.
c) They provide both interest and principal return.
d) They neither offer interest nor return the principal.

A

b) To help Social Enterprises raise funds from the public.
d) All of the above.
d) They neither offer interest nor return the principal

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

Eligibility Criteria for social enterprise

A. Predominance (Any one of the following)
At least ____% of the immediately preceding 3-year average of revenues comes from providing eligible activities to members of the target population
or

At least _____% of the immediately preceding 3-year average of expenditures has been incurred for providing eligible activities to members of the target population
or

Members of the target population to whom the eligible activities have been provided constitute at least_____% of the immediately preceding 3-year average of the total customer base/beneficiaries

A

67
67
67

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

India’s top export
5

A

petroleum
electronic
Rice
Chemicals
drugs and Pharma

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

Import source nation

A

china
UAE
USA
Russia

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

Top export destination

A

USA
UAE
Netherland
China

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

National Committee on Trade Facilitation (NCTF):

Established to facilitate the coordination and implementation of the World Trade Organization’s (WTO’s) Trade Facilitation Agreement (TFA) in India.

Initiatives by ______________ministry

A program for the development and growth of export production centres, with selected towns producing goods of Rs. _______ Crore

e-IEC (Electronic–Importer Exporter Code): IEC is a _____ alpha-numeric number
allotted to an entity and is mandatory for undertaking any export/import activity

A

Directorate General of Foreign Trade (DGFT): under Ministry of commerce

750

10-character

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

SCOMET: list
SCOMET items are regulated under the__act

can imported good be exported ?

A

Special Chemicals, Organisms, Materials, Equipment and Technologies

SCOMET list: It is India’s National Export Control List and is aligned to the control lists of all the MECRs
and conventions.

Weapons of Mass Destruction and their Delivery Systems
(Prohibition of Unlawful Activities) Act, 2005.

o Imported goods covered under the SCOMET list are not permitted for export

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

India has signed ___ FTAs with various countries.
o These include _____________

Exports to countries/regions with which India shares trade agreements such as FTAs have registered a
growth of _______% in the last five years

A

13

Sri Lanka, Nepal, Bhutan, Thailand, Singapore, South Korea, Japan, Malaysia,
Mauritius, United Arab Emirates and Australia.

20.75

24
Q

Reports by UNCTAD

A

trade and development report
World investment report
digital economy report
technology and innovation report
review of maritime report

25
Q

recently India and ______ have agreed to settle trade in Indian rupees in addition to current modes of
settlement in other currencies

A

Malaysia

26
Q

The ___________ recently released an annual report “Migration and Development Brief: Leveraging Diaspora Finances for Private Capital Mobilization”

Top 3?

Top 3 for India?

A

World Bank

India, Mexico, China

USA, UAE, UK

27
Q

Foreign Exchange Management (Current Account Transactions) Rules: These are rules made under the Foreign Exchange Management Act, 1999, which govern how Indians can deal with foreign exchange for various transactions like buying, selling, or using credit cards abroad. Previously, using credit cards overseas was not counted towards a limit of ________ for resident Indians, but now it will be.

Tax Collected at Source (TCS): This is a tax collected by sellers when certain goods or services are sold. In the context of sending money abroad, this tax is collected from the sender. The government has proposed changes to the rates of this tax for different purposes, such as __________________

The Liberalized Remittance Scheme (LRS): This scheme was started in ______ to make it easier for Indian residents to send money abroad. Under LRS, individuals can freely remit up to ________ per financial year for various transactions, but any amount beyond that requires permission from the ______________ .
This scheme doesn’t apply to organizations like ___________, and the remittances can be made in any foreign currency

A

$250,000

education, medical treatment, and general remittances.

2004
$250,000
Reserve Bank of India (RBI).
companies or trusts

28
Q

PM-PRANAM- full form ?, _________announced in Budget 2023-24, to incentivize States/ UTs to promote ___________________

A

PM Programme for Restoration, Awareness Generation, Nourishment and Amelioration of Mother Earth

alternate
fertilizers and balanced use of chemical fertilizers

29
Q

Urea Gold is ?

A

sulphur-coated Urea
Urea Gold is more economical and efficient than the currently used Neem-coated urea

30
Q

Bharatiya Beej Sahakari Samiti Ltd (BBSSL) was established in 2023

It was established under the ________ act

A

Multi-State Cooperative Societies (MSCS) Act, of 2002

31
Q

Ministry of Agriculture & Farmers Welfare (MoA&FW)
launched_________ portal for Seed Traceability, Authentication and Holistic Inventory

Portal has been developed by ___________ in collaboration with
MoA&FW on theme of ‘Uttam Beej –
Samriddh Kisan

In India, legal status to seed certification was given by ______ act in _____

A

SATHI
National
Informatics Centre

Enactment of Seeds Act, 1966.

32
Q

National Turmeric Board in the state of __________
under the aegis of the Ministry of ___________

A

Telangana
Commerce.

33
Q

30 critical mineral

A

Antimony, Beryllium, Bismuth, Cobalt, Copper, Gallium, Germanium, Graphite, Hafnium, Indium, Lithium, Molybdenum, Niobium, Nickel, PGE, Phosphorous, Potash, REE, Rhenium, Silicon, Strontium, Tantalum, Tellurium, Tin, Titanium, Tungsten, Vanadium, Zirconium, Selenium and Cadmium

34
Q

NATIONAL GEOSCIENCE DATA REPOSITORY PORTAL

ministry

A

Union Minister of Mines

35
Q

What is transfer pricing?

a) It refers to the process of transferring funds between different bank accounts.
b) It involves setting prices for goods and services exchanged between related entities within a company.
c) It pertains to the transfer of ownership of assets between individuals.
d) It is the process of transferring data from one computer to another

What does the Arm’s Length Principle (ALP) aim to achieve?
a) It aims to maximize profits for related entities.
b) It ensures that transactions between related entities are priced as if they were unrelated.
c) It encourages profit shifting to low-tax jurisdictions.
d) It allows special conditions for transactions between related entities

Arms length principle is determined by?______
It can be judicially scrutinized?

A

B
B
Income Tax Appellate Tribunal (ITAT)

Yes

36
Q

GLOBAL INNOVATION INDEX (GII) 2023

India maintains ____ Rank in the recently released GII
2023, by the ____________

India continues as a record holder by being an _____________ for a 13th consecutive year.

Is India member of following?
Paris Convention for the Protection of Industrial Property (1998).
o Berne Convention for the Protection of Literary and Artistic Works (1928).
o Patent Cooperation Treaty (1998

A

40th
World Intellectual Property
Organization (WIPO)
innovation over performer

Yes

37
Q

JAN VISHWAS (AMENDMENT OF PROVISIONS) ACT, 2023 Removes all offences and penalties under the Indian Post Office Act 1898.????

Decriminalises ____ provisions across ___ laws administered by __ Ministries/Departments

A

Yes
183, 42, 19

38
Q

PUShP portal was launched by Ministry of _________ to ensure greater availability of _______ during peak
demand season

A

Power * 2

39
Q

Supply Chain Resilience Initiative (SCRI): by?

A

India, Japan, and Australia

40
Q

Offshore Areas Mineral Trust: Will manage funds under the ______ Account of India that will be non-
lapsable in nature

A

Public

41
Q

PLI scheme

How much is the incentive outlay of the PLI scheme?

A) ₹1.97 thousand crore
B) ₹1.97 lakh crore
C) ₹1.97 crore
D) ₹1.97 billion

What percentage of the PLI scheme is expected to be invested in green sectors?

A) 25%
B) 45%
C) 55%
D) 75%

A

1.97 lakh crore
55%

42
Q

Logistics Ease Across Different States (LEADS)
Report 2023.
About LEADS
* Launched by the Ministry of __________ on the lines of the Logistics Performance Index (LPI)
of the _________ in 2018.
o India ranks ____th/139 countries in LPI 2023.
o LPI 2023 ranks countries on six dimensions of trade – including ___,—___,_____,____,____,_____,____,

____ States and ___ UTs have notified their respective State Logistics policies.
ü ___ States and __ UT have given Industry status to the logistics sector

A

Commerce and Industry
World Bank
38
Customs, Infrastructure, Ease of
arranging shipments, Quality of logistics services, Tracking and Tracing, and Timeliness

21, 2

15, 1

43
Q

Kochi Water Metro
The boats use ____________ batteries that can be charged in 15 minutes using a specially
built charging system.
o LTO batteries are not only the safest commercially accessible batteries in the world, but they are also
the longest-lasting, with a life cycle of ______ years
it won Gussies Award which is given by ___________

A

Lithium Titanate Oxide (LTO)
7-10
France

44
Q

According to the Harit Sagar Guidelines 2023, what is the target for the percentage of electricity needs to be met through renewables by 2030?

a) 30%
b) 50%
c) 60%
d) 80%

A

C

45
Q

Dakar Declaration

A

on road safety, by 21 African countries

46
Q

Bima ________ * Platform to integrate insurers and distributors on to one platform.
* Acts as one-stop shop for customers, who at a later stage can pursue service requests
and settlement of claims through the same portal.
Bima ______ * A bundled risk cover for life, health, property and casualties or accidents,
* Will have defined benefits for each risk that can be paid out faster than usual without
the need for surveyors.
Bima ______
(carriers)
* Women-centric workforce in each Gram Sabha that will meet the women heads of
each household to convince them about benefits of composite insurance product.

A

Sugam
Vistar
Vahaks

47
Q

Who are the three parties involved in a surety bond contract?
a) The insurer, the policyholder, and the beneficiary
b) The buyer, the seller, and the bank
c) The surety, the principal, and the obligee
d) The contractor, the project manager, and the investor

A

C

48
Q

World Health Organization (WHO) and the Ministry of AYUSH recently organized the First WHO Traditional Medicine Global Summit in____________

A

Gujarat, India

49
Q

OPEN NETWORK FOR DIGITAL COMMERCE (ONDC) was launched by _____________

Designed to promote competition and innovation in the Indian e-commerce market.

Enables transactions of any denomination, promoting democratic commerce?.

 good and service both?

Standardization and Certification:
    Plays a role in developing quality standards and certification framework for products and services sold on the platform.
    \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ provides training and capacity-building support to businesses for compliance with standards.

Framework and Participation:
    Not an aggregator application or hosting platform.
    Existing digital commerce applications and platforms can voluntarily adopt and be part of the ONDC network.

Components:
    Comprises buyer-side apps for placing orders, seller-side apps for onboarding merchants and displaying listings, and logistics platforms for handling deliveries.
A

Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of
Commerce and Industry

yes

yes

Quality Council of India (QCI)

50
Q

PIL scheme

Production Linked Incentive (PLI) Scheme:

Implementing Authority:
    Implemented by the Ministry of \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_


   IS it Open to companies of all sizes, both Indian and foreign????

Component Scheme:
    Offers incentives to companies investing in and manufacturing components for electronic devices in India.

Incentive Basis:
    Provides incentives based on \_\_\_\_\_\_\_\_\_\_ (incremental sale or production).
			
			Only goods? \_\_\_\_ \_\_\_% should be invested in green sectro
			
    Manufacturers receive incentives for sales made over and above their normal sales.
    Offers 4% to 6% incentives on incremental sales (over base year) of goods manufactured in India for a period of five years subsequent to the base year.
A

Electronics and Information Technology (MeitY).

yes

incremental sales

Yes-only goods that too electronic + 14 other
medical devices, automobiles and auto components, pharmaceuticals, drugs, specialty steel, telecom & networking products, electronic products, white goods (ACs and LEDs), food products, textile products, solar PV modules, advanced chemistry cell (ACC) battery, and drones and drone components.

55

    Eligibility under the PLI Scheme does not affect eligibility under any other scheme.
51
Q

Rapid Innovation and Startup Expansion (RISE)

Recently, _____, ______ launched a new accelerator called Rapid Innovation and Startup Expansion (RISE) to support ___________ and Indian circular economy startups.

A

AIM, NITI Aayog
Australian

52
Q

100% FDI is allowed with govt route in fisheries sector

True or false

A

False
100% FDI is allowed with automatic route

53
Q

Ministry of _____________ has set up Bhartiya Beej Sahkari Samiti Limited under the ______________) Act

Under Primary agriculture credit society it will allot _____acers of land for seed production

The BBSSL will undertake production, procurement distribution of quality seeds under ‘SINGLE’ brand
through cooperative network to improve crop yield and develop a system for preservation and promotion
of indigenous natural seeds

A

Cooperation
Multi-State
Cooperative Societies (MSCS)
2.5
like every other cooperative society chairperson is selected by election among board members

54
Q

In which of the following India allows FDI

A. Inventory model E-commerce
B. Marketplace model e-commerce

A

B

55
Q

industrial outlook survey by

A

RBI

economics (4 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions