Q1easy
'Pradhan Mantri Jan-Dhan Yojana' has been launched for
(a) providing housing loan to poor people at cheaper interest rates
(b) promoting women's Self-Help Groups in backward areas
(c) promoting financial inclusion in the country
(d) providing financial help to the marginalized communities
Answer: (c)
Q3easy
The 'Fortaleza Declaration', recently in the news, is related to the affairs of
(a) ASEAN
(b) BRICS
(c) OECD
(d) WTO
Answer: (b)
Q4easyAbsolute Qualifier
A decrease in tax to GDP ratio of a country indicates which of the following?
1. Slowing economic growth rate
2. Less equitable distribution of national income
Select the correct answer using the code given below.
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Answer: (c)
Q8moderateCommon Misconception
In the 'Index of Eight Core Industries', which one of the following is given the highest weight?
(a) Coal production
(b) Electricity generation
(c) Fertilizer production
(d) Steel production
Answer: (b)
Q13hardDistractor Pairing
The Fair and Remunerative Price (FRP) of sugarcane is approved by the
(a) Cabinet Committee on Economic Affairs
(b) Commission for Agricultural Costs and Prices
(c) Directorate of Marketing and Inspection, Ministry of Agriculture
(d) Agricultural Produce Market Committee
Answer: (a)
Q21moderateDistractor Pairing
Which one of the following issues the 'Global Economic Prospects' report periodically?
(a) The Asian Development Bank
(b) The European Bank for Reconstruction and Development
(c) The US Federal Reserve Bank
(d) The World Bank
Answer: (d)
Q22moderateScope Confusion
When the Reserve Bank of India reduces the Statutory Liquidity Ratio by 50 basis points, which of the following is likely to happen?
(a) India's GDP growth rate increases drastically
(b) Foreign Institutional Investors may bring more capital into our country
(c) Scheduled Commercial Banks may cut their lending rates
(d) It may drastically reduce the liquidity to the banking system
Answer: (c)
Q24moderateSimilar Sounding
In India, markets in agricultural products are regulated under the
(a) Essential Commodities Act, 1955
(b) Agricultural Produce Market Committee Act enacted by States
(c) Agricultural Produce (Grading and Marking) Act, 1937
(d) Food Products Order, 1956 and Meat and Food Products Order, 1973
Answer: (b)
Q29moderateSimilar Sounding
Which of the following brings out the 'Consumer Price Index Number for Industrial Workers'?
(a) The Reserve Bank of India
(b) The Department of Economic Affairs
(c) The Labour Bureau
(d) The Department of Personnel and Training
Answer: (c)
Q31easy
The terms 'Agreement on Agriculture', 'Agreement on the Application of Sanitary and Phytosanitary Measures' and 'Peace Clause' appear in the news frequently in the context of the affairs of the
(a) Food and Agriculture Organization
(b) United Nations Framework Conference on Climate Change
(c) World Trade Organization
(d) United Nations Environment Programme
Answer: (c)
Q34easy
Convertibility of rupee implies
(a) being able to convert rupee notes into gold
(b) allowing the value of rupee to be fixed by market forces
(c) freely permitting the conversion of rupee to other currencies and vice versa
(d) developing an international market for currencies in India
Answer: (c)
Q57moderateCommon Misconception
India is a member of which among the following?
1. Asia-Pacific Economic Cooperation
2. Association of South-East Asian Nations
3. East Asia Summit
Select the correct answer using the code given below.
(a) 1 and 2 only
(b) 3 only
(c) 1, 2 and 3
(d) India is a member of none of them
Answer: (b)
Q58easy
In India, the steel production industry requires the import of
(a) saltpetre
(b) rock phosphate
(c) coking coal
(d) All of the above
Answer: (c)
Q62moderatePartial Truth
Consider the following statements:
1. The Accelerated Irrigation Benefits Programme was launched during 1996-97 to provide loan assistance to poor farmers.
2. The Command Area Development Programme was launched in 1974-75 for the development of water-use efficiency.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Answer: (b)
Q64easyCommon Misconception
In the Mekong-Ganga Cooperation, an initiative of six countries, which of the following is/are not a participant/participants?
1. Bangladesh
2. Cambodia
3. China
4. Myanmar
5. Thailand
Select the correct answer using the code given below.
(a) 1 only
(b) 2, 3 and 4
(c) 1 and 3
(d) 1, 2 and 5
Answer: (c)
Q65easy
'Basel III Accord' or simply 'Basel III', often seen in the news, seeks to
(a) develop national strategies for the conservation and sustainable use of biological diversity
(b) improve banking sector's ability to deal with financial and economic stress and improve risk management
(c) reduce the greenhouse gas emissions but places a heavier burden on developed countries
(d) transfer technology from developed countries to poor countries to enable them to replace the use of chlorofluorocarbons in refrigeration with harmless chemicals
Answer: (b)
Q67moderatePartial Truth
With reference to 'Indian Ocean Rim Association for Regional Cooperation (IOR-ARC)', consider the following statements:
1. It was established very recently in response to incidents of piracy and accidents of oil spills.
2. It is an alliance meant for maritime security only.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Answer: (d)
Q81moderateAbsolute Qualifier
With reference to Indian economy, consider the following statements:
1. The rate of growth of Real Gross Domestic Product has steadily increased in the last decade.
2. The Gross Domestic Product at market prices (in rupees) has steadily increased in the last decade.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Answer: (b)
Q86moderateAbsolute Qualifier
With reference to Indian economy, consider the following:
1. Bank rate
2. Open market operations
3. Public debt
4. Public revenue
Which of the above is/are component/components of Monetary Policy?
(a) 1 only
(b) 2, 3 and 4
(c) 1 and 2
(d) 1, 3 and 4
Answer: (c)
Q87easy
With reference to inflation in India, which of the following statements is correct?
(a) Controlling the inflation in India is the responsibility of the Government of India only
(b) The Reserve Bank of India has no role in controlling the inflation
(c) Decreased money circulation helps in controlling the inflation
(d) Increased money circulation helps in controlling the inflation
Answer: (c)
Q90moderateCommon Misconception
The substitution of steel for wooden ploughs in agricultural production is an example of
(a) labour-augmenting technological progress
(b) capital-augmenting technological progress
(c) capital-reducing technological progress
(d) None of the above
Answer: (b)
Q94moderateSimilar Sounding
The problem of international liquidity is related to the non-availability of
(a) goods and services
(b) gold and silver
(c) dollars and other hard currencies
(d) exportable surplus
Answer: (c)
Q97moderatePartial Truth
Which one of the following best describes the main objective of 'Seed Village Concept'?
(a) Encouraging the farmers to use their own farm seeds and discouraging them to buy the seeds from others
(b) Involving the farmers for training in quality seed production and thereby to make available quality seeds to others at appropriate time and affordable cost
(c) Earmarking some villages exclusively for the production of certified seeds
(d) Identifying the entrepreneurs in villages and providing them technology and finance to set up seed companies
Answer: (b)
Q98moderateCommon Misconception
There has been a persistent deficit budget year after year. Which of the following actions can be taken by the government to reduce the deficit?
1. Reducing revenue expenditure
2. Introducing new welfare schemes
3. Rationalizing subsidies
4. Expanding industries
Select the correct answer using the code given below.
(a) 1 and 3 only
(b) 2 and 3 only
(c) 1 only
(d) 1, 2, 3 and 4
Answer: (a)
Q99easyCommon Misconception
Which of the following has/have been accorded 'Geographical Indication' status?
1. Banaras Brocades and Sarees
2. Rajasthani Daal-Bati-Churma
3. Tirupathi Laddu
Select the correct answer using the code given below.
(a) 1 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1, 2 and 3
Answer: (c)
Q100easyAbsolute Qualifier
With reference to the Indian Renewable Energy Development Agency Limited (IREDA), which of the following statements is/are correct?
1. It is a Public Limited Government Company.
2. It is a Non-Banking Financial Company.
Select the correct answer using the code given below.
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Answer: (c)