Indian Economy Study Material बिभाग ‘ख’

Indian Economy Study Material बिभाग ‘ख’ Shared By R. Agarwal

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Study Material: Indian Economy बिभाग ‘ख’

  1. Inflation, in theory, occurs:

(1) When the price of essential commodities outstrips income

(2) When money supply grows at a higher rate than GDP in real terms

(3) When the exchange rate of a currency falls

(4) When fiscal deficit exceeds balance of payment deficit

Ans:- (2) When money supply grows at a higher rate than GDP in real terms

  1. At present the expenditure on government (both central and state) as a percentage og GDP is

(1) 5%

(2) 17%

(3) 24%

(4) 30%

Ans:- (4) 30%

  1. Among the supply side measures to contain inflation is:

(1) Postponing public expenditure

(2) Mopping up excess liquidity through taxation

(3) Credit control measures of RBI

(4) Maintaining price levels through an effective PDS

Ans:- (4) Maintaining price levels through an effective PDS

  1. The purpose of central and state warehousing corporations is to:

(1) Distribute fertilizers and seeds

(2) To refinance farm credit

(3) Provide storage facility

(4) Process agricultural products

Ans:- (3) Provide storage facility

  1. The only two areas reserved for the public sector in NIP 1991 after recent amendments are:

(1) Atomic energy and railways transport

(2) Coal and petroleum

(3) Steel and petroleum

(4) Aircrafts and defence

Ans:- (1) Atomic energy and railways transport

  1. The significant change in the new FEMA which has replaced FERA is that the Emphasis from imprisonment will be shifted to:

(1) Adjudication

(2) Compounding

(3) Arbitration

(4) Voluntary compliance

Ans:- (4) Voluntary compliance

  1. According to the Census 2001, one state in India has made tremendous progress in total literacy. However, it also accounted for the widest gap between female and male literacy. The state in question is:

(1) Chhattisgarh

(2) Madhya Pradesh

(3) Bihar

(4) Rajasthan

Ans:- (4) Rajasthan

  1. Dr. Rangarajan Committee recommended that the percentage of equity to be disinvested in industries reserved for public sector should be:

(1) 25%

(2) 49%

(3) 74%

(4) 100%

Ans:- (2) 49%

  1. Government of India’s Disinvestment Polity was recast in 2000 to provide for ‘strategic sale’ of PSU shares. The new policy involves:

(1) Sale with a change in Management;

(2) Majority holding to be sold to a private party;

(3) Sale of only loss-making PSUs;

(4) Sale of share of defence PSUs.

Ans:- (1) Sale with a change in Management;

  1. A company is said to be ‘sick’ when the accumulated loss at the end of any financial year leads to erosion of …………. Percent of its net worth:

(1) 100%

(2) 75%

(3) 50%

(4) 25%

Ans:- (3) 50%

  1. The following is not an internal factor for industrial sickness

(1) Mismanagement

(2) Power shortage

(3) Wrong dividend policy

(4) Diversion of funds

Ans:- (2) Power shortage

  1. One of the disadvantages of the Wholesale Price Index in India is that:

(1) It does not cover the services sector;

(2) It is not available only on monthly basis;

(3) It is not available for individual commodities

(4) It is available only at constant prices.

Ans:- (1) It does not cover the services sector;

  1. In India the workers in the organized sector are only ……………… percent of the total work force.

(1) 10%

(2) 3%

(3) 5%

(4) 1%

Ans:- (2) 3%

  1. Check off system refers to the verification of membership through:

(1) Secret ballot

(2) Deduction of subscription from pay

(3) Open show of hands

(4) Head count

Ans:- (2) Deduction of subscription from pay

  1. National Renewal Fund (NRF) was instituted for the purpose of

(1) Providing pension for retiring employees

(2) Social security

(3) Rural reconstruction

(4) Restructuring and statement is laid before the two

Ans:- (4) Restructuring and statement is laid before the two

  1. The annual financial statement is laid before the two Houses of Parliament in according with:

(1) Article 74

(2) Article 112

(3) Article 268

(4) Article 370

Ans:- (2) Article 112

  1. On the basic of the size and composition of external debt, World bank has classified India as

(1) A less indebted country;

(2) A moderately indebted country;

(3) A heavily indebted country;

(4) A severely indebted country,

Ans:- (1) A less indebted country;

  1. Among the tax revenues of the union government, the most important source is:

(1) Income Tax

(2) Corporation Tax

(3) Union Excise Duties

(4) Customs Duty

Ans:- (3) Union Excise Duties

  1. The last Ministerial Meet of WTO was held on Dec 13-18, 2005 in

(1) Canada

(2) Hong Kong

(3)  Japan

(4) Australia

Ans:- (2) Hong Kong

  1. Direct taxation is a better form of taxation because:

(1) It fetches more revenue

(2) It can be more easily collected

(3) It allows for taxation according to means

(4) It has greater tax compliance

Ans:- (3) It allows for taxation according to means

  1. India’s tax effort measured as tax to GDP ratio is at present around:

(1) 8%

(2) 12%

(3) 16%

(4) 32%

Ans:- (3) 16%

  1. Multi Fibre Agreement deals with

(1) Trade in Narcotic substances;

(2) Paper and pulp products;

(3) Textiles;

(4) Optical fiber

Ans:-  (3) Textiles;

  1. As per the NIPFP estimate (1985) black money accounted for ………….. percent of GDP

(1) 60%

(2) 20%

(3) 28%

(4) 45%

Ans:- (2) 20%

  1. Which one of the following is not a reason for the doubling of the state governments’ debt burden between 1998 and 2002?

(1) Poor tax effort;

(2) Weak monsoon;

(3) Losses incurred by state PSUs;

(4) pay revision by state PSUs;

Ans:- (2) Weak monsoon;

  1. India has recorded a positive balance of payment on current account in recent years. Which of the following can be a possible explanation for this?

(1) Strong software exports

(2) Healthy flow of remittances;

(3) Contraction in imports;

(4) All the above

Ans:- (4) All the above

  1. The need for effective corporate governance and independent regulatory authorities was highlighted by the scam

involving which of the following multinational corporation/s?

(1) Enron

(2) WorldCom

(3) Xerox

(4) All the above

Ans:- (4) All the above

  1. The functions and powers of the centre and the states are laid down in the constitution in:

(1) Article 113

(2) Article 51

(3) Article 240

(4) Article 246

Ans:- (4) Article 246

  1. Which of the following is not an objective of the monetary policy of RBI?

(1) Boost economic development

(2) Direct credit in desirable direction

(3) Control inflationary pressure

(4) Ensure social justice

Ans:- (4) Ensure social justice

  1. Narasimham Committee recommended that SLR should be brought down to:

(1) 10%

(2) 11%

(3) 20%

(4) 25%

Ans:-  (4) 25%

  1. Open market operation of RBI refers to:

(1) Buying and selling of shares

(2) Auctioning of foreign exchange

(3) Trading in securities

(4) Transaction in gold

Ans:- (3) Trading in securities