OBJECTIVE QUESTIONS BASED ON INDIAN ECONOMY

OBJECTIVE QUESTIONS BASED ON INDIAN ECONOMY

                                                                                                                                                Praturi Potayya Sarma

1) ‘Mission Fingerling’ is relating to which revolution  ?

a) White Revolution

b) Blue Revolution ( Fisheries)

c) Green Revolution

d) Yellow Revolution

Ans :b

2)  Non – Performing Assets ( NPAs) of public sector banks soared to how much as per Chairman, Public Accounts Committee ?  ( Rs. In Lakh Crores) 

a) 6.8

b) 2.5

c) 3.0

d) 2.9

Ans :a

3) Coming in support of weak and non-performing public sector banks (PSBs), the Finance Ministry has chalked out a turnaround-linked Rs.8,586 Cr. Capital infusion plan for 10 PSBs. Which bank will highest amount ?

a) IDBI Bank

b) United Bank of India

c) Allahabad Bank

d) Bank of Maharastra

Ans :a

4) Who will be the next Chairman of Public Accounts  Committee (PAC) ?

a) Mallikarjun Kharge

b)Amitabh Kanth

c) Sachin Tendulkar

d) Lata Mangeshkar

Ans :a

5)  Under  Foreign Exchange Management Act, 1999 which remittances are prohibited ?

a) Remittance of income from racing/riding etc. or any other hobby.

b)Remittance for purchase of lottery tickets, banned /proscribed magazines, football pools, sweepstakes, etc.

c)Payment of commission on exports made towards equity investment in Joint Ventures / Wholly Owned Subsidiaries abroad of Indian companies. & participation in lottery schemes

d) All the above

Ans : d

6) Fraudsters are seeking money from gullible people, under different heads, such as_____________. The victims of the fraud have also been persuaded to deposit the amount in accounts with banks in India, and such amounts have been withdrawn immediately. Multiple accounts are being opened in the name of individuals or proprietary concerns, at different bank branches for collecting the transaction charges, etc. AD Category - I banks must, therefore, exercise due caution and to be extra vigilant while opening or allowing transactions in such accounts.

a) processing fees

b) transaction fees

c) tax clearance charges, conversion charges, clearing fees, etc. 

d) All the above

Ans : d

7) The index for eight core industries registered 4.8 per cent growth in 2016-17 (April-January). Core Sector comprises of which of the following ?

a)  crude oil, natural gas, petroleum refinery products,

b) coal, electricity,

c) cement, steel, and  fertilizers

d) All the above

Ans : d

8) India’s external sector position has been comfortable, with the CAD progressively contracting from US$ 88.2 billion (4.8 per cent of GDP) in 2012-13 to US$ 22.2 billion (1.1 per cent of GDP) in 2015-16. Expand CAD ?

a) Current Account Deficit

b) Capital Account Debt

c) Cash Account Debit

d) Clean Account Debit

Ans : a

9)  Great Trigonometric Survey was conducted in  1802. Computation of height of Mount Everest was completed in which year by Survey of India. Survey of India completed 250 years ?  

a) 1849

b) 1947

c) 1954

d) 1948

Ans : a

10) An Udyami Mitra portal has been set up to leverage IT architecture of Stand-Up Mitra portal which aims at instilling ease of access to _________________

a) MSMEs’ financial and non-financial service needs

b) rural development

c) urban development

d) Self Help Groups

Ans : a

11) What is  Balance of Payments (BoP) ?

a) It is  a statistical statement that summarises economic transactions between residents and non-residents during a specific time period. 

b) payments made to hotels

c) payments made to drivers

d) payments made to bus owners

Ans :a

12) The BoP  includes which  transactions ?

a) transactions in goods, services and income between an economy and the rest of the world

b) changes of ownership and other changes in that economy’s monetary gold, special drawing rights (SDRs), and financial claims on and liabilities to the rest of the world

c) unrequited transfers

d) All the above

Ans :d

13) Who is a Banking Ombudsman?

a) The Banking Ombudsman is a senior official appointed by the Reserve Bank of India to redress customer complaints against deficiency in certain banking services.

b) Business man

c) Lawyer

d) Minister

Ans :a

14) GST implementation challenges should be addressed through a robust dispute resolution mechanism; with the goods and services tax network (GSTN) expected to provide __________

a) the necessary information technology (IT) infrastructure to all stakeholders.

b) money exchnage

c) bullion exchange

d) foreign exchange

Ans :a

15)  What is  RNR ?

a) Revenue Neutral Rate

b) “RNR refer to a single rate, which preserves revenue at desired (current) levels

c) The RNR is different from the “Standard Rate” which is defined as the rate applicable

d) on goods and services, taxation is not clearly stated. Hence, it is. & All the above

Ans : d

16) The GST is a destination-based single tax on the supply of goods and services from the manufacturer to the consumer and is one  indirect tax for the entire country. GST will replace  which of the following  multiple taxes ?

a) central value added tax (CENVAT),

b) central sales tax,

c) state sales tax  & octroi

d) All the above

Ans :d

17) What is Bharat Bill Payment System (BBPS)?

a) Bharat Bill Payment System (BBPS) is an integrated bill payment system which will offer interoperable bill payment service to customers online as well as through a network of agents on the ground

b)  The system will provide multiple payment modes and instant confirmation of payment.

c) Both (a) & (b)

d) It is a machine

Ans : c

18) What is Gross Value Added (GVA) ?

a) Gross value added of a sector is defined as the value of output less the value of its intermediate inputs.

b) Value added created by a sector is shared between labour compensation and capital compensation. 

c) Both (a) & (b)

d) It is instalment amount

Ans : c

19)  “Poverty anywhere is a threat to prosperity everywhere”. Where it was declared ?

a) League of Nations

b) This was a very important declaration by the International Labor Organization in their convention held at Philadelphia in the year 1944, which had a very significant and remarkable sentence.

c) United Nations

d) USSR

Ans : b

20)  What is UPI?

a)Unified Payments Interface (UPI). It is an instant payment system developed by the National Payments Corporation of India (NPCI), an RBI regulated entity.

b) UPI is built over the IMPS infrastructure and allows you to instantly transfer money between any two parties' bank accounts

c)  Both (a) and (b)

d) Internet chatting

Ans : c