Correct Answer :   Buying and selling of stocks

OMOs are the market operations conducted by the Reserve Bank of India by way of sale/ purchase of Government securities to/ from the market with an objective to adjust the rupee liquidity conditions in the market on a durable basis.

Correct Answer :   SEBI

The Securities and Exchange Board of India (frequently abbreviated SEBI) is the regulator for the securities market in India. SEBI has to be responsive to the needs of three groups, which constitute the market: the issuers of securities; the investors; and the market intermediaries. It is entrusted with regulating the business in stock exchanges and any other securities markets; registering and regulating the working of stock brokers, sub-brokers, share transfer agents, bankers to an issue, trustees of trust deeds, registrars to an issue, merchant bankers, underwriters, portfolio managers, investment advisers and such other intermediaries who may be associated with securities markets in any manner; registering and regulating the working of [venture capital funds and collective investment schemes], including mutual funds; etc.

Correct Answer :   Maruti Suzuki Alto

After beating the Maruti 800 over the second half of 2004, the Maruti Alto officially took the title of bestselling car in India over the Full Year 2005. Below the Alto at 102,970 units, the Hyundai Santro (aka Atos), built in India, took the 2nd spot over the period at 73,822 sales and the Tata Indica was 3rd with 70,267 sales.

Correct Answer :   The total value of all goods and services produced in the country during a period of one year

National Income is defined as the sum total of all the goods and services produced in a country, in a particular period of time. Normally this period consists of one year duration, as a year is neither too short nor long a period. National product is usually used synonymous with National income. The Central Statistical Organization defines National income as “National Income is the sum of factor income earned by the normal residents of a country in the form of wages, rent, interest and profit in an accounting year.”

Correct Answer :   Excise duty, Customs duty and Income tax

Some of the taxes of the central government are: Taxes on income other than agricultural income; Duties of customs including export duties; Duties of excise on tobacco and other goods manufactured or produced in India except (i) alcoholic liquor for human consumption, and (ii) opium, Indian hemp and other narcotic drugs and narcotics, but including medicinal and toilet preparations containing alcohol or any substance; Corporation Tax; Taxes on capital value of assets, exclusive of agricultural land, of individuals and companies, taxes on capital of companies; Estate duty in respect of property other than agricultural land; etc. Central tax means taxes that are levied and collected by the central government.

Correct Answer :   corporate excellence

Punjab National Bank, National Thermal Power Corporation Ltd, New Delhi, and Bharat Petroleum Corporation Ltd. were awarded with the Golden Peacock Award 2002 for Excellence in Corporate Governance (GPAECG). Golden Peacock Awards, instituted by Institute of Directors in 1992, are now regarded as holygrail of Corporate Excellence worldwide. All institutions whether public, private, non-profit, government, business, manufacturing and service sector are eligible to apply.

Correct Answer :   the Central Govern-ment

Under Section 22 of the Reserve Bank of India Act, the Bank has the sole right to issue bank notes of all denominations. The distribution of one rupee notes and coins and small coins all over the country is undertaken by the Reserve Bank as agent of the Government. The one rupee note is issued by the Ministry of Finance and bears the signature of the secretary. The responsibility for coinage vests with Government of India on the basis of the Coinage Act, 1906 as amended from time to time. The designing and minting of coins in various denominations is also attended to by the Government of India.

Correct Answer :   Fiscal deficit

Fiscal deficit refers to a situation when a government’s total expenditures exceed the revenue that it generates (excluding money from borrowings). Deficit differs from debt, which is an accumulation of yearly deficits. A fiscal deficit is regarded by some as a positive economic event. For example, economist John Maynard Keynes believed that deficits help countries climb out of economic recession. On the other hand, fiscal conservatives feel that governments should avoid deficits in favor of a balanced budget policy.

Correct Answer :   Non-plan Expenditure

There are two components of expenditure - plan and non-plan. Of these, plan expenditures are estimated after discussions between each of the ministries concerned and the Planning Commission. Non-plan revenue expenditure is accounted for by interest payments, subsidies (mainly on food and fertilisers), wage and salary payments to government employees, grants to States and Union Territories governments, pensions, police, economic services in various sectors, other general services such as tax collection, social services, and grants to foreign governments

Correct Answer :   P.V. Narasimha Rao Government (1990)

The economic liberali-sation in India refers to ongoing economic reforms in India that started on 24 July, 1991. In 1991, the government of P. V. Narasimha Rao and his finance minister Manmohan Singh (currently the Prime Minister of India) started breakthrough reforms which included opening for international trade and investment, deregulation, initiation of privatization, tax reforms, and inflationcontrolling measures.