RL ECO 1 Flashcards
●An example of the non-plan expenditure of theGovernment of India
Defence expenditure
●Subsidies, all expenditures linked with the previousplan periods and Interest payment come underwhich type of Government expenditure?
Non-Plan expenditure
●Which Five Year Plan recognised humandevelopment efforts?
Eighth Five Year Plan
●Which committee has recently recommended thepricing of natural gas by a complex methodologyof arriving at an average of international gas hubprices?
C. Rangarajan Panel
●In India, the Chit funds are governed / regulated by:
State Governments
●What was the annual rate aimed at in the Eighth FiveYear Plan?
5.6 per cent
●How many drugs have been listed in the National Listof Essential Medicines (NLEM)?
348
●Which tax is levied by the Union and belongs to itexclusively?
Corporation Tax
●What is denoted by Low import growth rate in India?
Recession in Indian industry
●With which type of investors is Portfolio investmentrelated?
Foreign institutional investors
●A Direct Tax, levied on profit of companies and is notshared between Union and the states is
Corporation Tax
●The International Bank for Reconstruction andDevelopment, the International FinanceCorporation, and the International DevelopmentAssociation constitute the:
World Bank
●Agricultural income tax is assigned to the StateGovernment by:
Finance Commission
●In India, Bank rate, cash Reserve Ratio, and openmarket operation are included in ____ monetarypolicy.
Qualitative credit control system
●In India, Regulation of consumer credit, Rationing ofcredit and Margin requirements are instrumentsof:
Selective credit control
●Recently, we read in the newspapers that TCSovertook state-owned ONGC to become theIndia’s most-valued company on the basis ofmarket capitalization. Market capitalisation is the
product of total number of shares and stockprice
●Under the Jawahar Rozgar Yojana (JRY), what percent of the employment generated is reserved forwomen?
30 per cent
●The Narasimham Committee for Financial Reformssuggested reduction in:
SLR, CRR and PrioritySector Financing
“●In India which can use ““Repo Bonds”” to raise shortterm money from markets?”
Commercial Banksand corporates
●A company making a public issue of securities has tofile a Draft Red Herring Prospectus with SEBIthrough an eligible merchant banker prior tofiling a prospectus with the Registrar ofCompanies. What information does this Draft RedHerring Prospectus provide?
Financial Detailsabout the company and Objects of raising money
●What is the term for the rate at which the Reserve -Bank of India discounts the Bills of Exchange?
Bank Rate
●In April 2013, a Bill was introduced in the Lok Sabhato raise the authorised capital of the RegionalRural Banks to Rs 500 crore. What is the currentauthorised bill of RRBs?
Rs. 5 crore
●How many essential commodities is/are monitoral bythe price monitored cell (PMC) ?
21
●Recent NSSO data showing a significant increase inthe share of protein-rich items in total foodexpenditure, both in rural and urban areas ofIndia do confirm this hypothesis. What is thishypothesis known as?
Bennet’s Law
●The main reason for low growth rate in India, inspiteof high rate of savings and capital formation is:
High capital/output ratio
●The Cabinet Committee on Investment (CCI) hasbeen established to approve the investmentprojects which are larger than:
Rs. 1000 crore
●The government has launched the Modified SpecialIncentive Package Scheme (M-SIPS) for:
Electronic System Design and Manufacturing
●In one of the seminars, the Governor of RBI said thatthe schemes like Mahatma Gandhi National RuralEmployment Guarantee Scheme (MGNREGS)has played role in increasing inflation. How?
Byincreasing real wage rates and demand
●The largest source of financing the public sectoroutlay of the Eighth Five Year Plan came from:
Deficit Financing
●With reference to Domestic Savings in India, thesavings come from three sources, viz. households,the private corporate sector, and the public sector.The maximum share is held by:
Households
●Bombay Stock Exchange (BSE) has launched anIslamic equity index based on:
S&P BSE 500index
●The difference between the outflow and inflow offoreign currency is known as:
Current AccountDeficit
●It has been generally viewed that when an economygrows beyond its potential growth rate, it causesinflation. How does growing faster than thepotential rate cause inflation?
Fast growthcauses quick resource utilization to fulfill thehigher demand
●How many essential commodities is/are monitored bythe Price Monitoring Cell (PMC)?
21
●An important policy instrument of economicliberalization is reduction in ____ on capitalgoods.
Import duties
●Reduction in import duties would help the ____ toimprove technology to face the global markets.
Local entrepreneurs
●One of the important goals of the economicliberalisation policy is to achieve full convertibilityof the Indian rupee. This is being advocatedbecause it will stabilize its ____ against majorcurrencies of the world.
exchange value
●Which scheme was launched with an objective of aslum free India?
Rajiv Awas Yojana
●What was the aim behind the setting up of the WorldTrade Organization (WTO)?
Promotion of freetrade and resource flows across countries
●Which international organization is responsible formanaging balanced trade between differentcountries and promotion of trade between theformer East Bloc countries and the westernworld?
World Trade Organization
●The changing composition of the export trade isindicative of structural transformation of Indianeconomy in favour of modernisation. The bestindicator of this trend is the increase in the shareof _____ in exports.
Manufactured products
“●While promoting India as an investment destination,recently India’s Finance Minister said that the”“financial protectionism”” by the industrialcountries is an issue of concerns. What isFinancial Protectionism?”
Imposing barriers toinward or outward capital flows
●What is the term for payments received in rupee sagainst overseas currencies and vice versa withoutgoing through the official channels?
HawalaTransactions
“●One of the headlines in the newspapers recently read:”“Rupee tumbled 10 paise at one-week low of54.62””. What can tumble the Rupee down?”
Sustained dollar demand from importers, Capitaloutflows, and Rupee showing bearish trend incurrency market
●The Eighth Five Year Plan was different from theearliest ones. The critical difference was in thefact that it had a considerably ____ compared tothe earlier plans.
Larger outlay
●A commercial bank will launch a medium term note(MTN) programme to:
raise funds
●The recently released data on India’s services exportsreveal that India’s services exports rose by 9.5percent to USD 12.28 billion. The data on India’sservices trade is released by:
Reserve Bank of India
●Investment in agriculture has been ____ whencompared to investment in industry.
Low
●Though India’s national income has gone up severalfolds since 1947, there has been no markedimprovement in the ____ income level.
Percapita
●A planning in the sense of formal projections on thebasis of the certain sets of assumptions startedonly in the ____ Plan in India.
Second Five Year
●The theoretical assumptions in the Second Five YearPlan were provided by _____ Model of growth.
Mahalanobis
●As of now, India has independent regulators tocontrol the:
Commodity Exchanges, InsuranceMarket and Stock Markets
●A redistribution of income in a country can be bestbrought about through:
progressive taxationcombined with regressive expenditure
●A Miniratna-Category-1 Status holding public sectorcompany in India can incur expenditure onmodernization, new projects as well as equipmentpurchase without the approval of theGovernment, up to:
Rs. 500 crore
●In India, Currency with the public, Demand depositswith banks, and Time deposits with banksconstitute the:
Broad Money
●One of the important agreements reached in the 1996Ministerial Conference of WTO referred to:
Commerce in Information Technology
●In which year did the Foreign Exchange ManagementAct (FEMA) come into force?
2000
●The Reserve Bank of India has introduced a facility, via which the banks can dip below 1per cent oftheir statutory liquidity ratio to avail cash fromthis window. What is the name of this facility?
Marginal Standing Facility
●Which bank launched the ‘Tatkal’, scheme thatenables the people to transfer money to theirfamilies in their native towns and villages withoutactually opening an account?
State Bank ofIndia
●Human Development Index comprises literacy rates,life expectancy at birth and:
National Incomeper head in US dollars
●In India, inflation is measured by the:
WholesalePrice Index (WPI)
●The only finance minister of India to present theUnion budget on his birthday :
Morarji Desai
●A Banking Ombudsman will not entertain CreditCard complaints which are older than:
12months
●Who among the following will head the FinancialStability and Development Council (FSDC), onceit is set up?
Finance Minister
●If a person is not satisfied with the decision passed bythe Banking Ombudsman, he/ she can approachthe appellate authority against the BankingOmbudsmen’s decision. The Appellate Authorityis vested in
Deputy Governor of Reserve Bank ofIndia
“●The term ““round tripping”” in case of Foreign DirectInvestments is related to”
Coming Back ofDomestic Money as FDI
●In India, the dollar-rupee exchange rate dependsupon:
Government Control and Demand-supply balance
●The objective of the Perform Achieve and Tradescheme is to achieve:
energy efficiency
●The airlines of India were nationalized in
1953
●Collateralized Borrowing and Lending Obligation(CBLO) is a:
Money Market Instrument
●On which route, India’s first domestic air flight tookplace?
Delhi-Karachi
●Under ____, there has been a demand that banksshould be able to tie up with more partners.
Bancassurance
“●What is the impact on the ““Social overhead capitalrequirements”” of an economy, if the populationincreases?”
Social overhead capital requirementsincrease
●Market regulator SEBI has set up a committeeheaded by former cabinet secretary K MChandrashekhar to look into various mattersrelated to:
Foreign Investments
●RBI Deputy Governor who headed a committee, setup to review the National Small Savings Fund (NSSF) and recommendeddiscontinuation of Kisan Vikas Patras (KVPs) andintroduction of a 10-year National SavingCertificate (NSC) scheme was
S. Gopinath
“●Many a times, we read in the newspapers about aterm ““contra funds””. What are they?”
Contrafunds are likely to perform well in the long run,but not in the short term
●Which is a major instrument of monetary policy forregulating the economy?
Open MarketOperations
●What is the name of mutual fund schemes that investin government securities (G-Secs), issued by theReserve Bank of India on behalf of theGovernment?
Gilt Funds
●Schemes of (i) Urban Micro-Enterprises, (ii) UrbanWage Employment and (iii) Housing and ShelterUpgradation are parts of:
Nehru Rojgar Yojana
●Recently , we read in the newspapers that Floatingrate term deposits (FRDs), which are a variant ofthe fixed deposits offered by banks, have been nowlaunched in India. Which was the first bank tolaunch the FRDs in India?
State Bank of India
●The emergence of ____ does not imply the decline ofsocialist ideology.
Economic globalism
●The expenditure of government incurred on the non-development plans are called non-planexpenditure like. Examples of such expenditureinclude:
Subsidies, Interest payment anddefence expenditure
●National Income is:
Net National Product at factorcost
●The Minimum Alternative Tax (MAT) wasintroduced in the Budget of the Government ofIndia for the year:
1996-97
●The banks are required to maintain a certain ratiobetween their cash in hand and total assets. This iscalled:
SLR (Statutory Liquid Ratio)
●Nobel Prize in Economics for the year 1997 wasawarded for contribution in the area of:
Financial Economics
●On which among the following dates, NationalDevelopment Council was set up?
6th August1952
●The accounting year of the Reserve Bank of India is:
April-March
●Malanjkhand mine famous for copper reserves is inwhich state?
Madhya Pradesh
●Chairman of the 14th Finance Commission is:
Y.V.Reddy
●Average annual growth of the agriculture sector inthe Eleventh Five Year Plan was:
3.3 per cent
●Which body regulates the opening of bank accountsoverseas by Indian residents and for outward orinward remission of funds through authorizedchannels?
Reserve Bank of India
●The Capital Account Convertibility of the IndianRupee implies that’ the Indian Rupee can beexchanged for any major currency for the purposeof trading:
Financial assets
●The General Anti Avoidance and Thin CapitalizationRules to combat illicit transfer of money andassets abroad through complex financialarrangements and instruments, have beenincorporated as a part of
Direct Taxes Code Bill
●Economic Survey in India is published officially everyyear by the:
Ministry of Finance, Governmentof India
●Some time back, the Government of India, decided todelicense ‘white goods’ industry. ‘White goods’include:
items purchased for conspicuousconsumption
●What was the average annual growth target of 12thFive Year Plan?
8 per cent
“●In context with the fight with the menace of TaxEvasion, how many countries have started the”“Peer Review Group”” under the Global Forumfor Transparency and Exchange of Informationfor Tax Purposes?”
18
●Projects with a minimum of which amount aretracked by National ManufacturingCompetitiveness Council?
Rs. 1,000 crore andabove
●Who heads the National Ministerial Committeeunder the Architecture for Cash Transfers?
Prime Minister of India
●Saumitra Chaudhuri committee was appointed torecommend revisions to:
Wholesale Price Index
“●Which stock exchange launched first carbon-basedthematic index ““Carbonex””?”
Bombay StockExchange (BSE)
●Kaushal Vikas Yojana is a scheme of which ministry?
Ministry of Labour and Employment
●What is the share of ATMs operated by SBI and itsfive subsidiaries in the total ATMs in India?
59per cent
●Too much import of which commodity by Indiaadversely affects Trade Balance and CurrentAccount Balance?
Gold
●’MERCOSUR’ consists of group of countries of:
Latin America
●The steel plants of Durgapur, Bhilai & Rourkela wereset up under which five year plan?
Second FiveYear Plan
“●The ““Premium Fund”” of which scheme is managedby LIC of India?”
Aam Admi Bima Yojana
●Demand for goods/services provided by the countryconcerned and Stability of the government of theconcerned country determines:
Price of anycurrency in international market
●A consumer is said to be in equilibrium, if:
he isable to fulfill his need with a given level of income
●In which year, Corporate Debt Restructuring (CDR)scheme was launched in India with an objective ofensuring timely and transparent mechanism forrestructuring the corporate debts of viable entitiesfacing problems?
2001
“●In India which can borrow using the facility of ““cashmanagement bills””?”
Government
●In which year was the Forward Contracts(Regulation) Act enacted in India?
1952
●The regulator of the commodity market in India is
Forward Market Commission
●Recently, a discussion on the deregulation of interestrates on savings deposits is going on in thenewspapers. Which body decides the savings bankrate?
Reserve Bank of India
●The concept of ‘Universal Banking’ was implementedin India on the recommendations of:
R H KhanCommittee
●Which committee advises RBI on Monetary policy?
Technical Advisory Committee
●Approximately, what fraction of India’s total exportsis contributed by the Micro, Small and MediumEnterprises (MSME) sector?
40 per cent
●Which regulate the commodity markets in India?
Reserve Bank of India and Forward MarketCommission
●In which year Agricultural and Processed FoodProducts Export Development Authority(APEDA) was established by the Government ofIndia under the Agricultural and Processed FoodProducts Export Development Authority Act?
1986
●Non-Performing Asset of a non-agricultural loanbook shall be a loan or advance where Interestand/or instalment of principal remain overdue for_____ days in respect of term loan.
90 days
●In India, which type of unemployment in agriculturalsector is perennial?
Disguised uneployment
●Under which scheme, 10 kg of food grains per monthare supplied free of cost to the target group?
Annapurna Scheme
●From 2002-2003, which scheme was transferred toState Plan along with the National SocialAssistance Programme?
Annapurna Scheme
●Taxation of software Development Centres & IT wasthe purpose of appointment of:
Rangacharycommittee
●Public Distribution System (PDS) means distributionof essential commodities to a large number ofpeople through a network of Fair Price Shops on arecurring basis. The Commodities distributedunder PDS are:
Wheat, Rice, Sugar, andKerosene
●A bond with a varying interest rate and has loweryield than fixed interest rate bond is called
Floating Rate Bond
●Which scheme seeks to provide shelter to rural BPLhouseholds?
Indira Awaas
●Under which scheme is allotment of the house madeonly in the name of the female member of thehousehold?
Indira Awaas Yojana
●Why the Indirect taxes are termed regressive taxingmechanisms?
They are charged the same for allincome groups
●Which curve is the graphical representation of therelationship between tax rates and absoluterevenue these rates generate for the Government?
Laffer curve
●The government has powers under the EssentialCommodities Act, 1955 (EC Act) to declare acommodity as an essential commodity to ensure itsavailability to people at fair price. TheCommodities covered under the Act include:
Hank Yarn, Fertilizers, Petroleum and PetroleumProducts, Cotton and Jute seeds
●The Cabinet Committee on Investments has been set-up to address:
To boost big ticket investmentsand
●The Non-votable charges or ‘Charged Expenditure’included in the Union Budget include:
Salaryand Allowances of the Presiding Officers of thehouses of Parliament.
●Salary and Allowances of the Judges of the SupremeCourt and High Courts in India come underwhich type of charges?
Non-votable charges
●Salary and Allowances of the CAG, Pension of theretired Judges of the Supreme Court and Pensionof the retired Judges of High Courts comprise_____ charges in the Union Budget.
Non-votable charges
●Which is the new sub-category of the commercial realestate sector (CRE) as per the latest RBIdirective?
Residential projects
●Though ULIPs (Unit Linked Insurance Plan) areconsidered to be a better investment vehicle it hasfailed to capture the imagination of the retailinvestors in India because of
Regulatoryjurisdictional fight between SEBI and IRDA
●Which committee was appointed to look into theguidelines of General Anti Avoidance Rules(GAAR) and has recommended retrospectiveapplication of tax law only in rarest of rare cases?
Shome committee
●Which committee, appointed by the Government ofIndia, recommended the correction of anomaliesin the statues of Tax laws, protection of the taxbase from abusive tax planning schemes andcorrection of technical/procedural defects thatimpairs a substantive law?
Shome Committee
●The supply-side economics lays greater emphasis onthe point of view of:
Producer
●Human Poverty Index was introduced in the HumanDevelopment Report of the year:
1994
●The economist who was associated with the WTOdraft document is:
A.K. Sen
●Which mark is given to the Indian products that areenvironment friendly?
‘Eco mark’
●Small-scale industries are, in most cases, not asefficient and competitive as the large-scale ones.Yet the Government provides preferentialtreatment and reservations in a range of productsto the small firms because small-scale industries:
Promote a regional dispersion of industries andeconomical activities.
●In India, _____ have performed better in export ofmanufactured products than the large scale ones.
Small-scale industries
●The economic crisis in the later half of 1990s mostseriously affected Indonesia, Thailand, Malaysiaand South Korea. The cause of the crisis was:
mismanagement of the financial resources andfinancial sector
●The farmers are provided credit from a number ofsources for their short and long term needs. Themain sources of credit to the farmers include:
Primary Agricultural Cooperative Societies,commercial banks, RRBs and private moneylenders
●The Direct Taxes Code incorporates taxationmechanisms to deal with the international issue of_____.
‘Transfer Pricing’
●Which fund aims to safeguard the interests ofworkers who may be affected by technologicalupgradation of industry or closure of sick units?
National Renewal Fund
●Price of the country’s products in the internationalmarket may fall due to:
devaluation
●____ is the borrowing from the Reserve Bank of Indiaplus other liabilities of the Government to meet itsexpenditure.
Fiscal deficit
●From the balance sheet of a company, it is possible to:
determine the size and composition of theassets and liabilities of the company
●Reserve Bank of India Act, 1934, Insurance Act,1938, Securities Contracts (Regulation) Act, 1956,and Securities and Exchange Board of India Act,1992 were amended to establish:
FinancialStability and Development Council (FSDC)
●Which body headed by the Finance Minister aims toinstitutionalize the mechanism for maintainingfinancial stability and resolving inter-regulatorydisputes?
Financial Stability and DevelopmentCouncil
●Regional disparities in India are high and have beenrising in recent years because:
There ispersistent investment over time only in selectlocates.
●Some areas in India are agro-climatically lessconductive to development. It has led to:
Regional disparity
●In India, some areas continue to face little or noagrarian transformation and the consequent lackof social and economic opportunities. What hasthis feature resulted in?
Regional disparities
“●Indian farmers are unhappy over the introduction of”“Terminator Seed Technology”” because the seedsproduced by this technology are expected to:”
give rise to plants incapable of forming viableseeds
●Which taxes are levied exclusively by the CentralGovernment and are mentioned in the Union Listof the Seventh Schedule of the Constitution ofIndia?
Corporation Tax and Taxes onadvertisement in the newspapers
●The Union levies, collects and distributes theproceeds of ____ between itself and the states.
Income tax
●Under which scheme, the central government meetsup to 20per cent of capital cost of a project beingimplemented in public private partnership (PPP)mode?
Viability Gap Funding Scheme
●The Viability Gap Funding Scheme is administeredby the:
Ministry of finance
●Lack of savings to invest, lack of technology, skillsand infrastructure and limited purchasing poweramong the larger masses constrain:
Industrialdevelopment in India
●Tourism industry in India is quite small compared tomany other countries in terms of India’s potentialsize. Why?
In India, the infrastructure requiredfor attracting tourists is inadequate
●What is the term for the ratio that shows the units ofcapital required to produce ‘a net of output over agiven period of time?
Capital Output Ratio
●Indian Currency Printing Institutions are located atNasik, Hoshangabad, Hyderabad and:
Devas
●Who operates the National Disaster Response Fundwhich was constituted under the DisasterManagement Act, 2005?
Union Minister forHome Affairs
●Which act enables banks to reduce their non-performing assets (NPAs)?
SARFAESI Act
●Which act deals with enforcement of Security Interestby secured creditor (Banks/ FinancialInstitutions)?
SARFAESI Act
●The ____ has to do with transfer of non- performingassets to Asset Reconstruction Company andprovides a legal framework for securitization ofassets.
SARFAESI Act
●What is the term for the money value of all finalgoods and services produced during a financialyear in an economy?
National Income
●Educational Loan Scheme evolved by ____ is appliedif only for students in Private ProfessionalColleges.
Reserve Bank of India
●The central nodal agency for implementing the pricesupport operations for commercial crops is:
NAFED
●Recently we read in the newspapers that CentralBureau of Investigations (CBI) has beeninvestigating some companies for allegedviolations of provisions of FCRA, 2010. FCRAstands for
Foreign Contribution Regulation Act
●In India, the Foreign Exchange Reserves are kept inthe custody of
Reserve Bank of India
●Banks are required to maintain a certain ratiobetween their cash in hand and total assets whichare called Statuary Liquidity Ratio (SLR). Whofixes these rates?
RBI
●The Employment Assurance Scheme envisagesfinancial assistance to rural areas forguaranteeing employment to at least:
one manand one woman in a rural family living below thepoverty line
●Many banks in India have gone for ISO 27001:2005certification for compliance with
Best SecurityPractices
●Which data are released in India on monthly basis?
CPI, WPI and IIP
●In an open economy, the national income (Y) of theeconomy is :(C, I, G, X, M which stand forConsumption, Investment, GovernmentExpenditure, total exports and total importsrespectively.)
Y = C+ I - G+(X - M)
●A rise in ‘SENSSEX’ means:
an overall rise inprices of shares of group of companies registeredwith Bombay Stock Exchange
●What is the term for Business activity at high levelwith increasing income, output and employmentat macro level?
Boom
●What is the term for Gradual fall of income, outputand employment with business activity in a lowgear?
Recession
●Under which condition is there unprecedented levelof under employment and unemployment, drasticfall in income, output and employment?
Depression
●Steady rise in the general level of prices, income,output and employment is known as:
Recovery
●Which state Government in India has launched theGram Suraj Abhiyan (village contact programme)to reach to the door of the people in the remoteareas of the state?
Chhattisgarh
●The Tobin tax, initially suggested by James Tobin wasa tax on which among the following transactions?
Currency Transactions
●The highest authority in India for Indirect Taxes is
Central Board of Excise and Customs (CBEC)
●As per the proposed GST Constitution AmendmentBill, which among the following articles definesthe Goods and Services Tax (GST)?
Article 366(12) A
●The Reserve Bank of India (RBI) acts as a bankers’bank. This would imply?
Other bank retainstheir deposits with the RBI.
“●The Government of India has launched a ““Youth tothe Edge”” pilot scheme in North East India forwhich purpose?”
To introduce youth from rest ofIndia to the North Eastern Culture
●The Government uses as last resort in deficitfinancing
Printing Currency
●What is the approximate average fertilizerconsumption in India per hectare of land?
140kg
●Indian Human Development Report does not give foreach sample village:
Unemployment RelatedIndex
●An increase in the Bank Rate generally indicates thatthe:
Central Bank is following a tight moneypolicy
●The Reserve Bank of India regulates the commercialbanks in matters of:
liquidity of assets, branchexpansion, merger of banks and winding-up ofbanks
●Which bank(s) grants/ grant direct credit assistanceto rural households?
Regional Rural Banks andLand Development Banks
●There were two Narasimham Committees.Narasimham Committee -I was formed in 1991and Narasimham Committee -II was formed in1998. How are these two committees similar?
They were related to Tax Reforms
●Which type of lending by banks in India constitutesthe lending to agriculture, micro and smallenterprises, and weaker sections?
PrioritySector Lending
●Supply of money remaining the same when there isan increase in demand for money, there will be:
an increase in the rate of interest
●The balance of payments of a country is a systematicrecord of:
all import and export transactions ofa country during a given period of time, normallya year
●Foreign Loans, Foreign Direct Investment andPortfolio Investment constitute:
CapitalAccount
The groups of items included India’s foreign-exchangereserves :
Foreign-currency assets, goldholdings of the RBI and SDRs
●An increase in the money supply, a decrease in theaggregate level of output, and an increase in theeffective demand, lead to:
Rise in general levelof prices
●Which is likely to be the most inflationary in itseffect?
Printing/creating new money to financea budget deficit
●The national income of a country for a given period isequal to the:
total value of goods and servicesproduced by the nationals
●Disguised unemployment generally means:
marginal productivity of labour is zero
●Economic growth in country X will necessarily haveto occur if:
there is capital formation in X
●In India, deficit financing is used for raisingresources for:
economic development
●To obtain full benefits of demographic dividend, whatshould India do?
Promoting skill development
●Investment in which is the Most Risk Free asset of aBank as per the RBI guidelines?
GovernmentApproved Securities
●Deficit financing increases the rate of:
moneyinflation
●Ultimate burden of tax is known as:
Incidence
●Which type of economy has combination of freemarket economy and centrally planned economy?
Mixed Economy
●When was Planning Commission formed?
15March 1950
●Reasons for the privatisation and liberalisation ofpublic sector after 1991 were corruption, lack ofefficiency in work and:
Ineffective management
●When elasticity of demand and elasticity of supplyare equal, the burden of tax lies:
Equally onbuyer and seller
●When was first five year plan introduced?
1 April1951
●If interest payment is deducted from the fiscal deficit,then the balance is:
Primary deficit
●Which is not a monetary measure to controlinflation?
Soft loan policy
●Selling of securities in the open market by the centralbank creates:
Deflation
“●The term ““Evergreen Revolution”” has been used forincreasing agricultural production in India by:”
M.S. Swaminathan
●Who is the Chairman of NITI Aayog?
PrimeMinister
●When was Consumer Protection Act enacted?
1986
●Income received from public borrowings is includedin:
Capital Budget
●Which is the monetary measure to control inflation?
Hard credit policy
●Principle of Economy, Principle of Sanction andPrinciple of Surplus come under the principles ofpublic expenditure as developed by:
FindleyShirras
●What is the purpose of the central bank when it sellsgovernment securities and increases bank rate?
Controlling inflation
●To buy a book, from the market by giving money iscalled:
Direct Exchange
●Income tax, property tax and house tax are examplesof:
Direct Tax
●The largest significant factor of revenue expenditureof Central Government
Interest Payment
●Who becomes the Chairman of NationalDevelopment Council?
Prime Minister of India
●The Golden Quadrilateral of India connects which ofthe following places?
Delhi Mumbai Chennai Kolkata
●Second Green Revolution is associated withdevelopment of:
Horticulture
●____ in the field of agriculture is associated withimprovement in the production of fish and marineproducts.
Blue revolution
●A large increase in oil prices, such as the onesoccurring in 1973 and 1979, will cause:
Inflationand recession
●The law of demand states that:
as the price rises,the demand falls
●People with large debts to pay for their homes andcars and those with large retirement savings heldin savings accounts are most hurt by:
Unexpected inflation
●MGNREGA provides legal guarantee foremployment at minimum wages to adult members of a household in a financial year for atleast:
100 days
●The Community Development Programme wasstarted in India on:
2 October 1952
●The Indian rupee is fully convertible:
in respect ofCurrent Account of Balance of payment
●Resurgent India Bonds were issued in US dollar,Pound Sterling and:
Deutsche Mark
●The growth rate of per capita income at currentprices is higher than that of per capita income atconstant prices, because the latter takes intoaccount the rate of:
increase in price level
●The market of Government securities is called:
Gilt-edged
●Capital Investment, Labour force, and Powerconsumption determine the:
Size of the industry
●The most appropriate measure of a country’seconomic growth is its:
Per Capita Real Income
●The excess of Total Expenditure over Total Receiptsless borrowings is called:
Fiscal deficit
●What is the term for Excess of Total Expenditureover Total Receipts?
Budget deficit
●Excess of Revenue Expenditure is called:
Revenuedeficit
●The excess of Total Expenditure over Total Receiptsless borrowings and Interest Payments is called:
Primary deficit
●The earlier name of the WTO was:
GATT
●Which term is used in economics to represents grossnational product at market prices minusdepreciation and indirect taxes plus subsidies?
National Income
●The prices at which the government purchases foodgrains for maintaining the public distributionsystem and for building up buffer-stock is knownas:
Procurement Prices
●National Agricultural Insurance Scheme replacingComprehensive Crop Insurance Scheme wasintroduced in the year:
1999
●Market borrowing, Treasury bills, and Specialsecurities issued to Reserve Bank of India arecomponents (s) of _____
Internal debt
●Which body in India is a banker to the CentralGovernment, formulates and administersmonetary policy?
Reserve Bank of India
●Under which scheme of the Government of India arefood grains available to the poorest of the poorfamilies at Rs. 2 per kg for wheat and Rs. 3 per kgfor rice?
Antyodaya Anna Yojana
●Under which Scheme, the old and destitute areprovided Rs. 75 per month as Central pension, itaddition to the amount provided by most StateGovernment?
National Old Age PensionScheme
●The upward trend in the ratio of ____ of GDP inrecent years has a adverse effect on privateinvestment.
Fiscal Deficit
●In India, Currency with the public, Demand depositswith banks and Time deposits with banksconstitute:
Broad Money (M3)
●Which body was set up in July 1940?
IndustrialFinance Corporation of India
●Which body was set up on 5 January, 1955?
Industrial Credit and Investment Corporation ofIndia
●Which of the following was set up by the Governmentof India in July 1964?
Industrial DevelopmentBank of India
●Which body set up on 19 July, 1982, is related toagricultural field?
National Bank forAgriculture and Rural Development
●Rural electrification has been treated as a BasicMinimum Service under the:
Prime Minister’sGramodaya Yojana
●What is the percentage of Foreign Direct Investmentallowed in the power sector of India withoutupper limit?
100 percent
●When a country has to borrow to make interestpayments on to standing loans, it is said to be in:
Debt trap
●When a currency can be directly exchanged with anyother international currency at any prescribedplace inside and outside the country, it is said tobe:
Fully convertible
“World Development Report”” is an annual publicationof:”
International Bank of Reconstruction andDevelopment
●Which committee recommended the abolition ofreservation of items for the small scale sector inindustry:
Abid Hussain Committee
●Shankerlal Guru Committee was associated with:
Agricultural marketing
●What percentage small scale industries contribute intotal production of manufacturing sector?
About 40 per cent
●Country’s first energy exchange ‘Indian EnergyExchange’ (IEX) became operational since:
2008
●In India, the first Bank of limited liability managedby Indians and founded in 1881 was:
OudhCommercial Bank
●The Government holding in BPCL is:
between60per cent and 70per cent
●In India, stamp duties on financial transactions are:
appropriated by the Union Government
●Under ____, violation of foreign exchange rules hasceased to be a criminal offence.
FEMA
●Which union ministry gives finanical support to Mid-day Meal Scheme for the benefit of class I to Vstudents in Government or Government aidedSchools?
Ministry of Human ResourceDevelopment
●Subsidies on PDS kerosene and domestic LPG areborne by:
Consolidated Fund of India
●In the last one decade, which sector has attracted thehighest Foreign Direct Investment inflows intoIndia?
Services Sector
