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INDIAN ECONOMY
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1 .
Notes on which denomination has the portrait of Mahatma Gandhi printed on them?
A)
1000 rupee
B)
500 rupee
C)
100 rupee
D)
All of the above

Correct Answer : Option (D) - All of the above

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2 .
Which of the following is not viewed as a national debt?
A)
Provident Fund
B)
Life Insurance Policies
C)
Long-term Government Bonds
D)
National Saving Certificate

Correct Answer : Option (D) - National Saving Certificate

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3 .
The current price index (base 1960) is nearly 330. This means that
A)
all items cost 3-3 times more than what they did in 1960
B)
the prices of certain selected items have gone up to 3-3 times
C)
weighted means of prices of certain item has increased 3-3 times
D)
gold price has gone up 3-3 times

Correct Answer : Option (C) - weighted means of prices of certain item has increased 3-3 times

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4 .
Non Tax revenues can be increased by improving the working of the
A)
State Road Transport Corporations
B)
commercial irrigation projects
C)
electricity boards
D)
All of the above

Correct Answer : Option (B) - commercial irrigation projects

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5 .
Which of the following is the first Indian private company to sign an accord with Government of Myanmar for oil exploration in two offshore blocks in that country?
A)
Reliance Energy
B)
Essar Oil
C)
GAIL
D)
ONGC

Correct Answer : Option (B) - Essar Oil

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6 .
Fiscal deficit in the Union Budget means
A)
the difference between current expenditure and current revenue
B)
net increase in Union Governments borrowings from the Reserve Bank of India
C)
the sum of budgetary deficit and net increase in internal and external borrowings
D)
the sum of monetized deficit and budgetary deficit

Correct Answer : Option (C) -

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7 .
In pursuance with the recommendations of Narsimhan Committee, the RBI has framed new guidelines
A)
to govern entry of new private sector banks to make the banking sector more competitive
B)
to reduce the freedom given to banks to rationalize their existing branch network
C)
to setup more foreign exchange banks
D)
to lend more easily for industrial development

Correct Answer : Option (A) -

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8 .
If the fiscal deficit of the Union Government is Rs. 75,000 crores relending to State is Rs. 25,000 crores, interest payments are Rs. 25,000 crores, what is the amount of the primary deficit?
A)
Rs. 50,000 crores
B)
Rs. 25,000 crores
C)
Rs. 1,00,000 crores
D)
Rs. 1,25,000 crores

Correct Answer : Option (A) - Rs. 50,000 crores

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9 .
Excise duty is a tax levied on the
A)
production of goods
B)
import of goods
C)
export of goods
D)
sale of goods

Correct Answer : Option (A) - production of goods

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10 .
National Agricultural Insurance Scheme replacing Comprehensive Crop Insurance Scheme was introduced in the year
A)
1997
B)
1998
C)
1999
D)
2000

Correct Answer : Option (C) - 1999

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