RL ECO 3 Flashcards
●In 1999, the ____ Railway Corporation introducedthe Roll On Roll Off (RORO) service, a uniqueroad-rail synergy system, on the section betweenKolad in Maharashtra and Verna in Goa, whichwas extended up to Surathkal in Karnataka in2004.
Konkan
●The gilt-edged market refers to the market forGovernment and semi-government securities,backed by the ____.
Reserve Bank of India
●The Ministry of Power, the apex body responsible forthe development of electrical energy in India,started functioning independently from 2 July,1992; earlier, it was known as the Ministry of____.
Energy
●Airports Authority of India (AAI) was constituted on1st April, ____ by merging erstwhile NationalAirports Authority (NAA) and InternationalAirports Authority of India (IAAI).
1995
●At the beginning of the 10th Plan, the capacity of themajor ports was 343.95 MTPA which hasincreased to ____ MTPA at the end of the 10thPlan thereby achieving the capacity addition160.80 MTPA.
504.75
●The 12 Major Ports (including the Port of Ennorewhich is a corporate port set up under the IndianCompanies Act, _____) are evenly spread out onthe Eastern and Western coast.
1956
●Indian economic policy after independence wasinfluenced by the colonial experience (which wasseen by Indian leaders as exploitative in nature)and by those leaders’ exposure to ____ socialism.
Fabian
●The Fourth Plan (____) aimed at accelerating thetempo of development of reducing fluctuations inagricultural production as well as the impact ofuncertainties of foreign aid.
1969-74
●GNP can be calculated using the following formula:GNP= ___+ Net factor income from abroad where,Net factor income from abroad = differencebetween income earned in foreign countries byresidents of a country and income earned by non-residents in that country.
GDP
●The net domestic product (NDP) is the equivalentapplication of NNP within macroeconomics, andNDP is equal to gross domestic product (GDP)minus depreciation: NDP =____.
GDP -depreciation
●The situation created by the Indo-Pakistan conflict in1965, two successive years of severe drought,devaluation of the currency, general rise in pricesand erosion of resources available for Planpurposes delayed the finalization of the ____ FiveYear Plan.
Fourth
●Software Technology Park schemes provide facilitiesfor the IT industry, helping them undertakesoftware development and IT enabled services for____ exports that include professional services.
100%
●____ retailing refers to the traditional formats of low-cost retailing, for example, the local kirana shops,owner manned general stores, paan/beedi shops,convenience stores, hand cart and pavementvendors, etc.
Unorganised
●Although India is still a net importer, since ____ itsoverall balance of payments (i.e., including thecapital account balance) has been positive, largelyon account of increased foreign direct investmentand deposits from non-resident Indians.
1996-97
●In India, External Commercial Borrowings are beingpermitted by the Government for providing anadditional source of funds to Indian corporates,with the _____ monitoring and regulating theseborrowings.
Ministry of Finance
●Foreign direct investment is a measure of foreignownership of productive assets, such as factories,mines and land; increasing foreign investment canbe used as one measure of growing _____.
economic globalization
●Foreign Investments in equity capital of an Indiancompany under the ____ Scheme are not withinthe ambit of FDI policy and are governed byseparate regulations of RBI/Securities andExchange Board of India.
Portfolio Investment
●Under The Coinage Act, ____, the Government ofIndia is charged with the responsibility of theproduction and supply of coins to the ReserveBank of India.
1906
●____ are financial institutions that provide bankingservices without meeting the legal definition of abank, i.e. one that does not hold a banking license.
NBFCs
●_____ intervention in currency markets is solely todeliver low volatility in the exchange rates, andnot to take a view on the rate or direction of theIndian rupee in relation to other currencies.
RBI
●The Indian money market is classified into: theorganised sector (comprising private, public andforeign owned commercial banks and cooperativebanks, together known as____); and theunorganised sector (comprising individual orfamily owned indigenous bankers or moneylenders and non-banking financial companies(NBFCs).
scheduled banks
●The Hydrocarbons Vision - ____ lays down theframework which would guide the policiesrelating to the hydrocarbons sector.
2025
●In economics, the inflation rate is a measure ofinflation, the rate of increase of a price index (forexample, a consumer price index); it is thepercentage ____ level over time.
rate of changein price
●Foreign exchange reserves (also called Forexreserves) in a strict sense are only the foreigncurrency deposits and bonds held by centralbanks and monetary authorities; however, theterm in popular usage commonly includes foreignexchange and gold, SDRs and ____ positions.
IMF reserve
What appear on the company’s balance sheet andinclude short term debt, accounts payable,accrued liabilities and other debts?
Currentliabilities
“●The Rabi crop is the spring harvest (also known asthe ““____””) in India and Pakistan; the main Rabicrops are: Wheat; Barley; Mustard; Sesame;Peas; Oats. Soyabean and groundnut are kharifcrops.”
winter crop
●A domestic production subsidy is a payment made bya government to firms in a particular industrybased on the output or production; the subsidycan be specified either as an ____ subsidy (% ofthe value of production) or as a specific subsidy(dollar payment per unit of output).
ad valorem
●A Direct tax is a kind of charge, which is imposeddirectly on the taxpayer; the examples of directtax include ____ and income tax; one of theexamples of direct taxes include capital gains tax,personal income tax, tax on corporate income, andtax incentives.
property tax
●Which Indian state has the largest area and highestproduction of large brown cardamom in India?
Sikkim
●____ Expenditure is a generic term, which is used tocover all expenditure of Government not includedin the Plan; it includes both developmental andnon-developmental expenditure.
Non-Plan
●M3 is measure of the stock of money in the nationwith reference to which monetary targets are setby the Reserve Bank of India; it is also called____.
‘Broad Money’
●Which country is the largest producer in the world ofmilk, cashew nuts, coconuts, tea, ginger, turmericand black pepper?
India
“●Which crop is the spring harvest (also known as the”“winter crop””) in India and Pakistan?”
Rabicrop
●Nikkei 225 is a stock market index for which StockExchange?
Tokyo
●Under the 11th Plan period, 59,693 MW is slated tocome from thermal projects, whereas hydro andnuclear projects are expected to generate 15,267MW and ____, respectively.
3,380 MW
●The Finance Commission is established under whicharticle of the Constitution of India by thePresident?
Article 280
●The Sagarmala project was announced by the formerPrime Minister, A.B. Vajpayee, on August 14,2003 involving rapid capacity expansion andmodernisation of ____.
ports
●____ is loaned, in the call market, which can bedemanded for repayment on call, i.e., immediately.
Call Money
●A ____ is an international bond that is denominatedin a currency not native to the country where it isissued.
Eurobond
●____ (near-prime, non-prime, or second-chancelending) in finance means making loans that are inthe riskiest category of consumer loans and aretypically sold in a separate market from primeloans.
Subprime lending
●A ____ is a foreign-exchange agreement between twoparties to exchange aspects (namely the principaland/or interest payments) of a loan in onecurrency for equivalent aspects of an equal in netpresent value loan in another currency.
currency swap
●What is the name for the rate at which Reserve Bankof India (RBI) borrows money from banks?
Reverse Repo
●In economics and finance, ____ is the practice oftaking advantage of a price difference betweentwo or more markets: striking a combination ofmatching deals that capitalize upon the imbalance,the profit being the difference between the marketprices.
arbitrage
●A ____ is an investment fund open to a limited rangeof investors that undertakes a wider range ofinvestment and trading activities in addition totraditional long-only investment funds.
hedgefund
●Indian depository receipts (IDR) are derivativeinstruments like Global Depository Receipts(GDRs) and American depository receipts (ADRs)that have shares as the ____.
underlying assets
●Bank rate is the rate of interest which a central bankcharges on the loans and advances that it extendsto commercial banks and other financialintermediaries. By what other name is it alsoknown?
Discount rate
Removal of poverty was the foremost objective of theSixth Plan (___). The strategy adopted was tomove simultaneously towards strengthening theinfrastructure for both agriculture and industry.
1980-85
●There’s a whole range of non-institutional lenders,such as mortgage companies, title companies,universities, _____ and individual investors suchas money lenders.
Pension funds
●In economics which curve depicts the relationshipbetween the price of a certain commodity, and theamount of it that consumers are willing and ableto purchase at that given price?
Demand curve
●The Organisation for Economic Co-operation andDevelopment (OECD) identifies three key factorsin considering whether a jurisdiction is a taxhaven: Nil or only nominal taxes; Protection ofpersonal financial information; and lack of ____.
Transparency
●Under Article ____ of the constitution, a statement ofestimated receipts and expenditure, called the’Annual Financial Statement’, has to be placedbefore Parliament for each financial year.
112
●When the government fails to check inflation, it raisesincome tax and the corporate tax. Such a tax iscalled by what name which concerns with therevenue from taxation in the period of inflation?
Buoyancy
●What is the term for a tax on company’s profit whichis a direct tax, calculated on profits after interestpayments and allowance (i.e., Capital allowance)have been deducted but before dividends areallowed for?
Corporation Tax
“●Maintaining a buffer stock is an importantconstituent of the government’s food policy, asagriculture in India still remains dependent on thevagaries of nature. The buying is done by the FCIfrom the farmers at MSP, this buying is known as”“____.”””
captive buying
●Bhakra-Nangal Project is a joint venture of Punjab,Haryana and ___ state governments. It is thelargest multipurpose project of the country andthe highest gravity dam in the world.
Rajasthan
●Agricultural productivity may be defined as the totalagricultural output per unit area of cultivatedarea, per agricultural worker or per unit of inputin _____.
monetary values
●As per the Income Tax Act 1961, the assesse whosetotal income level is more than the maximumexemption limit, are under the domain ofchargeable Income Tax and he has to pay theIncome Tax at the rates stated in the provisions ofthe ___.
Finance Act
●In India, The ____ governments are empowered bythe state government to levy property tax, Octroiand charge users for public utilities like watersupply, sewage etc.
local
●As per which section of Income Tax Act, 1961 longterm capital gains on shares or securities ormutual funds on which Securities Transaction Tax(STT) has been deducted and paid, no tax ispayable?
Section 10(38)
“●The Agricultural Produce (Grading and Marking)Act, _____, empowers the Government to fixquality standards, known as ““AGMARK”“standards and to prescribe terms and conditionsfor using the seal of ‘AGMARK’.”
1937
●The Scheme of Watershed Development Project inShifting Cultivation Areas was launched in sevenNorth-Eastern States during the ______Plan from1994-95 with 100 per cent Central assistance tothe State Plan.
Eighth
●___ of a country is a systematic record of all economictransactions completed between its residents andthe residents of remaining world during a year.
Balance of payment
●____ is a tax which is imposed on certain indigenousproduction (e.g., petroleum products, cigarettesetc.) of the country.
Excise Duty
●_____ is a market where the speculators buy sharesor commodities in anticipation of rising prices.
Bull Market
●The Central Government has established AppellateTribunal for Electricity under ____ of theElectricity Act, 2003 on 7 April 2004.
Section110
●_____ was the first person that originally conceivedthe idea of networking of the rivers about twocenturies ago, but idea of interlinking of Indianrivers was revived independently by M.Viveswarayya, K.L.Rao, and D.T.Dastur.
Arthur
●______ is a fund used for meeting emergencies wherethe Government cannot wait for an authorisationof the Parliament.
Contingency
●______ is a term used by stock exchange whichspecifies the particular stock or share which dealsin frequent and regular transactions. It helps thebuyers to obtain reasonably large amounts at anytime.
Active Market
●GDP was first developed by whom for a US Congressreport in 1934, who immediately said not to use itas a measure for welfare?
Simon Kuznets
●What is not a measurement of the standard of livingin an economy; however, it is often used as such anindicator, on the rationale that all citizens wouldbenefit from their country’s increased economicproduction?
GDP per capita
●The Index of Sustainable Economic Welfare (ISEW)is an economic indicator intended to replace theGross Domestic Product, which is the mainmacroeconomic indicator of System of NationalAccounts (SNA). It is similar to which otherindicator?
Genuine Progress Indicator
●What is the term for a central bank regulation thatsets the minimum reserves each commercial bankmust hold (rather than lend out) of customerdeposits and notes?
Cash reserve ratio
●Ensuring environmental sustainability of thedevelopment process through social mobilizationand participation of people at all level was one ofthe specific objectives of which five year Plan ofIndia?
Ninth Five Year Plan
●What is the process by which monetary authority of acountry, generally a central bank controls thesupply of money in the economy by exercising itscontrol over interest rates in order to maintainprice stability and achieve high economic growth?
Monetary policy
●The budget has to be passed by the Lok Sabha beforeit can come into effect on _____, the start ofIndia’s fiscal year.
April 1
●What is the term for bank regulation that financialinstitutions and other regulated companies mustperform to identify their clients and ascertainrelevant information pertinent to doing financialbusiness with them?
Know your customer(KYC)
●What is the term for that system which consists ofnon-depository banks and other financial entitiesthat grew in size dramatically after the year 2000and play an increasingly critical role in lendingbusinesses the money necessary to operate?
Shadow Financial System
●A Working Group under ____ on NBFCs has, interalia, examined the issues related to the regulatorygaps and arbitrage opportunities that exist in theShadow Financial system.
Usha Thorat
●What is the term for computer language that enablesdocuments to be read electronically and promisesto web-enable the financial reporting process forboth preparers and consumers?
XtensibleBusiness Reporting Language (XBRL)
●Rupay, launched in 2011, is being tagged as India’sanswer to MasterCard and Visa. Which bankbecame the first to give out a batch of automatedteller machines (ATM)-cum-debit cards to UniqueIdentification (UID) number holders?
Bank ofIndia
●In the context of Indian economy, what is consideredto be the main determinant of the level of activityis in national income terms?
RealizedInvestment
●The first step towards electronic bond trading inIndia was the introduction of the RBIs NegotiatedDealing System. In which year NDS waslaunched?
2002
●The story of banking in India starts from Bank ofHindusthan established in ____ and it was firstbank at Calcutta under European management.
1770
●In economics, what term is used for a hypotheticalrepresentation of the relationship betweengovernment revenue raised by taxation and allpossible rates of taxation which is used toillustrate the concept of taxable income elasticity?
Laffer curve
●What deals with the technique where parentcompanies sell goods and services to subsidiaryentities at an inflated price to deliberately reduceprofits and tax liability?
Transfer Pricing
●What is the term for a mixed bag of commoditieswhich are essential and are price sensitive andaffect the rate of Inflation?
Sensitive Items
Which Industrial Policy Resolution was based uponthe Mahalanobis Model of growth whichsuggested that there should be an emphasis on theheavy industries?
Industrial Policy Resolution,1956
●Which was the fifth Public Sector Undertaking (PSU)of India to have been accorded the ‘Maharatna’status?
Coal India Limited
●Which was the first act post independence whichempowered the government of India to takenecessary steps to regulate the pattern ofIndustrial development through licensing?
Industrial (Department and Regulation) Act, 1951
●Which formula was evolved in 1969 for determiningthe allocation of central assistance for state plansin India and was adopted for distribution of planassistance during Fourth and Fifth Five YearPlans?
Gadgil formula
●The logo of the Reserve Bank of India comprises a tigerwalking underneath a palm tree which has been fromthe gold Mohur issued by the ___ in the 19th century.
East India Company
●The immediate effect of devoting a larger share ofnational output to investment is that the economydevotes a smaller share to ____.
Consumption
●As per which article of the Constitution of India, Servicetax is levied by Union and collected and appropriatedby the Union and States. Service tax is a part ofCentral Excise in India?
Article 268-A
●The usual aim of open market operations in an economyis to control the short term interest rate and thesupply of base money in an economy, and thusindirectly control the total ___.
Money supply
●What is the term/expression for a financial institutionwhich provides capital to companies in the form ofshare ownership instead of loans?
Merchant Bank
●In terms of Section 22 of the Reserve Bank of India Act,the RBI has been given the statutory function of noteissue on a monopoly basis. The note issue in Indiawas originally based upon ____.
ProportionalReserve System
●Unlike Gross Domestic Product (GDP), which definesproduction based on the geographical location ofproduction, Gross National Product (GNP) allocatesproduction based on ____.
Ownership
●A currency is deemed convertible on the current accountif it can be freely converted into other convertiblecurrencies for purchase and sale of commodities andservices. Since which year has the Indian Rupee beenmade fully convertible currency on capital account?
1949
●What is the word for engaging in banking activities suchas accepting deposits or making loans at facilitiesaway from a bank’s home office?
BranchBanking
●By using credit control methods the Reserve Bank ofIndia tries to maintain monetary stability. There aretwo types of methods of credit control: Quantitativecontrol to regulate the volume of total credit; andQualitative Control to regulate the ____.
Flow ofcredit
●The distribution of one rupee notes and coins and smallcoins all over the country is undertaken by theReserve Bank as agent of the Government. Thesystem as it exists today is known as the ____.
Minimum Reserve System
●The Eleventh Finance Commission of India wasappointed by the President on July 3, 1998 for theperiod 2000-05. It was chaired by whom?
Prof.A.M. Khusro
●The First Five-Year Plan (1951-1956) addressed, mainly,the agrarian sector, including investments in damsand irrigation. On which model was it based?
Harrod-Domar model
●Under which mechanism does the Reserve Bank of Indiaprovides to the States banking with it to help them totide over temporary mismatches in the cash flow oftheir receipts and payments?
Ways and MeansAdvances
●India’s foreign exchange reserves is made up ofForeign currency assets (FCA) (US dollar, euro,pound sterling, Canadian dollar, Australian dollarand Japanese yen etc.) and ___.
Gold
●A rise in general level of prices may be caused by anincrease in the money supply, a decrease in theaggregate level of output and ____.
An increasein the effective demand
●The two main instruments of ____ are governmenttaxation and changes in the level and compositionof taxation and government spending can affectthe following variables in the economy.
Fiscalpolicy
●If the cash reserve ratio is lowered by the RBI, itsimpact on credit creation will be to:
increase it
●In the state of India, the State Financial Corporationhave given assistance mainly to develop:
medium and small-scale industries
●Which eminent economist of India authored’Changes in India’s National Income-A StaticEconomy in Progress’ (1954) and ‘The NationalIncome of British India’ (1941)?
V.K.R.V. Rao
