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
