Indian Economy

1

The economic cost of food grains to the Food Corporation of India is Minimum Support Price and bonus (if any) paid to the farmers plus

  1. transportation cost only
  2. interest cost only
  3. procurement incidentals and distribution cost
  4. procurement incidentals and charges for godowns
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2

With reference to India's Five-Year Plans, which of the following statements is/are correct?

  1. From the Second Five-Year Plan, there was a determined thrust towards substitution of basic and capital good industries.
  2. The Fourth Five-Year Plan adopted the objective of correcting the earlier trend of increased concentration of wealth and economic power.
  3. In the Fifth Five-Year Plan, for the first time, the financial sector was included as an integral part of the Plan.

Select the correct answer using the code given below.

  1. 1 and 2 only
  2. 2 only
  3. 3 only
  4. 1, 2 and 3
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3

The Service Area Approach was implemented under the purview of

  1. Integrated Rural Development Programme
  2. Lead Bank Scheme
  3. Mahatma Gandhi National Rural Employment Guarantee Scheme
  4. National Skill Development Mission
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4

In a given year in India, official poverty lines are higher in some States than in others because

  1. poverty rates vary from State to State
  2. price levels vary from State to State
  3. Gross State Product varies from State to State
  4. Quality of public distribution varies from State to State
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5

Which one of the following links all the ATMs in India?

  1. Indian banks' Association 
  2. National Securities Depository Limited 
  3. National Payments Corporation of India 
  4. Reserve Bank of India
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6

Which of the following are included in the category of Direct Tax in India?

  1. Corporation Tax
  2. Tax on Income
  3. Wealth Tax
  4. Customs Duty
  5. Excise Duty

Select the correct answer using the code given below

  1. 2 and 3 only
  2. 1, 2 and 3
  3. 1, 2 , 4 and 5
  4. 1, 3, 4 and 5
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7

'Inclusive growth' is a phrase used in India's

  1. 9th plan
  2. 10th plan
  3. 11th plan
  4. 12th plan

Select one:

  1. Only 4
  2. 3 and 4
  3. 2 and 4
  4. 1, 2 and 3
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8

Corporate tax in India is levied on income of a company. Which one of the following does not include Corporation tax?

  1. Sale proceed of assets
  2. Interest on securities
  3. Profit from business
  4. Capital gain
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9

Regarding ‘Atal Pension Yojana’, which of the following statements is/are correct?

  1. It is a minimum guaranteed pension scheme mainly targeted at unorganized sector workers.
  2. Only one member of a family can join the scheme.
  3. Same amount of pension is guaranteed for the spouse for life after subscriber's death.

Select the correct answer using the code given below.

  1. 1 only
  2. 2 and 3 only
  3. 1 and 3 only
  4. 1, 2 and 3
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10

With reference to 'Financial Stability and Development Council', consider the following statements:

  1. It is an organ of NITI Aayog.
  2. It is headed by the Union Finance Minister.
  3. It monitors macroprudential supervision of the economy.

Which of the statements given above is/are correct?

  1. 1 and 2 only
  2. 3 only
  3. 2 and 3 only
  4. 1, 2 and 3
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11

Yellow Revolution in India refers to growth of

  1. Militancy in the north-east
  2. Oilseeds production
  3. Advertising industry
  4. Jaundice outbreak
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12

Government of India recently announced constitution of NITI Aayog as a policy think-tank replacing Planning Commission. NITI stands for

  1. National Institution for Transforming India
  2. It is not an acronym, but only a Sanskrit word for Policy
  3. National Initiative for Technological India
  4. New Initiative for Transforming India
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13

Which of the following would include Foreign Direct Investment in India?

  • 1. Subsidiaries of companies in India
  • 2. Majority foreign equity holding in Indian companies
  • 3. Companies exclusively financed by foreign companies
  • 4. Portfolio investment

Select the correct answer using the codes given below:

  1. 1, 2, 3 and 4
  2. 1, 2 and 3 only
  3. 2 and 4 only
  4. 1 and 3 only
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14

Which one of the following groups of items is included in India's foreign-exchange reserves?

  1. Foreign-currency assets, loans from the World Bank and SDRs
  2. Foreign-currency assets, gold holding of the RBI and loans from the World Bank
  3. Foreign-currency assets, Special Drawing Rights (SDRs) and loans from foreign countries
  4. Foreign-currency assets, gold holdings of the RBI and SDRs
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15

Why is the Government of India disinvesting its equity in the Central Public Sector Enterprises (CPSEs)?

  • 1. The Government intends to use the revenue earned from the disinvestment mainly to pay back the external debt.
  • 2. The Government no longer intends to retain the management control of the CPSEs.

Which of the statements given above is/are correct?

  1. 1 only
  2. 2 only
  3. Both 1 and 2
  4. Neither 1 nor 2
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16

With reference to inflation in India, Which of the following statements is correct?

  1. Controlling the inflation in India is the responsibility of the Government of India only
  2. The Reserve Bank of India has no role in controlling the inflation
  3. Decreased money circulation helps in controlling the inflation
  4. Increased money circulation helps in controlling the inflation
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17

In the 'Index of Eight Core Industries', which one of the following is given the highest weight?

  1. Coal production 
  2. Electricity generation 
  3. Fertilizer production
  4. Steel production
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18

Which of the following brings out the 'Consumer Price Index Number for Industrial Workers'?

  1. The Reserve Bank of India
  2. The Department of Economic Affairs
  3. The Labour Bureau 
  4. The Department of Personnel and Training
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