Correct Answer :   Goa

Generally, per capita income is the indicator of progress of any country. According to World Development Report 2009, the per capita income of India was $950. Goa has the highest per capita income in India. Goa leads the country with per capita income of Rs. 1,92,652. Delhi comes in second after Goa with PCI of Rs. 1,75,812 followed by Chandigarh (1,28,634 – 2011) & Haryana (1,09,227).

Note : According to recent data given by Ministry of Statistics and Programme Implementation, Goa has highest NSDP per capita among 33 Indian states and union territories. NSDP per capita of Goa is estimated at 224,138 Indian rupees in 2013-14 at current prices. Ranking of Delhi is two with per capita income around of 212,219 INR. Sikkim is at third, Chandigarh is at forth and Puducherry is fifth richest economy of India. Bihar, Uttar Pradesh, Manipur, Assam, and Jharkhand is top 5 poorest state in terms of nsdp per capita. These five states have net state domestic product per capita below Rs. 50,000.

Correct Answer :   sum of budget deficit and Government’s market borrowings and liabilities

The fiscal deficit is the difference between the government’s total expenditure and its total receipts (excluding borrowing). The elements of the fiscal deficit are (a) the revenue deficit, which is the difference between the government’s current (or revenue) expenditure and total current receipts (that is, excluding borrowing) and (b) capital expenditure. The fiscal deficit can be financed by borrowing from the Reserve Bank of India (which is also called deficit financing or money creation) and market borrowing (from the money market that is mainly from banks).

Correct Answer :   5%

In approving the Approach Paper to the Tenth Plan, the NDC adopted a set of quantifiable and monitorable targets which would enable to focus on accelerating growth, not only as an end in itself but also as the means to achieve success in other dimensions such as poverty reduction, employment creation and improvement in certain critical indicators of the quality of life. These include health, environment and education indicator. The Tenth FiveYear Plan (2002–2007) aimed at the reduction of poverty ratio by 5 (%) percentage points by 2007.

Correct Answer :   Indian Railways

Indian Railways is an Indian state-owned enterprise, owned and operated by the government of India through the Ministry of Railways. Railways were first introduced to India in 1853 from Bombay to Thane. In 1951 the systems were nationalized as one unit, the Indian Railways, becoming one of the largest networks in the world. IR operates both long distance and suburban rail systems on a multi-gauge network of broad, metre and narrow gauges.

Correct Answer :   Raj Krishna

The Hindu rate of growth refers to the low annual growth rate of the socialist economy of India before 1991, which stagnated around 3.5% from 1950s to 1980s, while per capita income growth averaged 1.3%. The term was coined by Indian economist Raj Krishnaa. It suggests that the low growth rate of India, a country with a high Hindu population was in a sharp contrast to high growth rates in other Asian countries, especially the East Asian Tigers, which were also newly independent. This meaning of the term, popularised by Robert McNamara, was used disparagingly and has connotations that refer to the supposed Hindu outlook of fatalism and contentedness.

Correct Answer :   Tax Reforms

Vijay Kelkar, former finance secretary and advisor to the finance minister almost a decade ago, was mandated by the finance minister to give a report outlining a roadmap for fiscal consolidation. Kelkar, who headed the 13th Finance Commission, was told to present a fiscal road map for the medium term

Correct Answer :   1989

By merging the two erstwhile wage employment programme - National Rural Employment programme (NREP) and Rural Landless Employment Guarantee Programme (RLEGP) the Jawahar Rozgar Yojana (JRY) was started with effect from April, 1, 1989 on 80:20 cost sharing basis between the centre and the States. The main objective of the Yojana was additional gainful employment for the unemployed and under-employed persons in rural areas. The other objective was the creation of sustained employment by strengthening rural economic infrastructure and assets in favour of rural poor for their direct and continuing benefits.

Correct Answer :   5% of shares

There are different forms of privatization. When the government disinvests its shares to the extent of 5 to 10 per cent to meet the deficit in the budget, this is termed as deficit privatization. This is also referred to as token privatization. A typical tactic adopted towards privatization is the incremental method where shares are sold in steps. On the other hand token privatization is adopted in circumstances of acute budget deficit wherein a lump of shares is sold off.

Correct Answer :   GDP minus indirect taxes plus subsidies

Gross value added at factor cost (formerly GDP at factor cost) is derived as the sum of the value added in the agriculture, industry and services sectors. If the value added of these sectors is calculated at purchaser values, gross value added at factor cost is derived by subtracting net product taxes from GDP. GDP at Factor Cost is called Real GDP. This is because it takes into account various other factors which give a clearer picture of the GDP.

Correct Answer :   LIC

Jeevan Aastha policy of Life Insurance Corporation of India is a single premium assurance plan which offers guaranteed benefits on death and maturity. The plan has a maximum shelf life of 45 days and offers five and ten year maturities to customers. The scheme has fixed the minimum age at entry as 13 years which would enable parents to make provisions for higher education of their children. Similarly, the maximum age at entry has been fixed as 60 years. The plan offers guaranteed addition of Rs100 for every thousand of maturity sum assured for 10 years term and Rs90 per annum for policies with five year term. The policy holder can also avail the benefits of tax exemption and has the options of surrendering the policy or to raise loan under the policy.