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General Knowledge(GK) (or) General Awareness

Welcome to the General Knowledge Section of Free Time Learning. As we are aware General Knowledge (GK) is a very important area in all the competitive exams held in the country. Nowadays, a good knowledge of general awareness is very important in clearing any competitive and government recruitment examinations.

These General Knowledge Question are very important and usefull to UPSC, IAS/PCS, UPPSC, IBPS, SBI, RBI, SSC, CGL, Railway, APPSC, TSPSC, KPSC, TNPSC, TPSC, UPPSC, MPSC, RPSC, BPSC, MPPSC, UKPSC, MPSC, and other competitive exams.

A)
14
B)
15
C)
16
D)
17

Correct Answer : Option (C) - 16


Navratna was the title given originally to nine Public Sector Enterprises (PSEs) identified by the Government of India in 1997 as “public sector companies that have comparative advantages”, giving them greater autonomy to compete in the global market so as to “support [them] in their drive to become global giants”. The number of PSEs having Navratna status has been raised to 16, the most recent addition being Oil India Limited.

Published On : June 26, 2021
A)
New Delhi
B)
Mumbai
C)
Ahmedabad
D)
Hyderabad

Correct Answer : Option (A) - New Delhi


The Indian Institute of Foreign Trade (IIFT) is an autonomous public business school established in 1963 by the government of India to help professionalize the country’s foreign trade management and increase exports by developing human resources, generating, analyzing and disseminating data. It is located in New Delhi, India.

Published On : June 26, 2021
A)
Fifth
B)
Sixth
C)
Seventh
D)
Eighth

Correct Answer : Option (A) - Fifth


The Fifth Five-Year Plan (1974–1979) laid stress on employment, poverty alleviation, and justice. The plan also focused on self-reliance in agricultural production and defence.

Published On : June 26, 2021
A)
existence of both rural and urban sectors
B)
existence of both private and public sectors
C)
existence of both heavy and small industries
D)
existence of both developed and underdeveloped sectors

Correct Answer : Option (B) - existence of both private and public sectors


Mixed economy is an economic system in which both the state and private sector direct the economy, reflecting characteristics of both market economies and planned economies. The basic idea of the mixed economy is that the means of production are mainly under private ownership; that markets remain the dominant form of economic coordination; and that profit-seeking enterprises and the accumulation of capital remain the fundamental driving force behind economic activity. However, unlike a free-market economy, the government would wield considerable indirect influence over the economy through fiscal and monetary policies.

Published On : June 26, 2021
A)
Jivan Chhaya
B)
Jivan Kishore
C)
Jivan Sanchay
D)
None of the above

Correct Answer : Option (D) - None of the above


LIC (Life Insurance Corporation, India) introduces its pension plan to offer individuals with regular income during their old age. Pension also well-known as retirement plans are predominantly intended for the citizens who are disposed to make their old age financially secure. Jeevan Kishore is a children’s plan under which the child becomes the owner of the policy automatically at the age of 18 years. Jeevan Chhaya is beneficial for partner having less than a year old child (not an adopted child). It makes provision for higher education / marriage of the child. Jeevan Sanchay is a without profit money-back plan available for the age group between 14 years and 58 years. LIC’s Jeevan Akshay- VI is a pension plan for people who are at present in their retirement age and have no pension. Under this policy, LIC will pay the policy holders a reliable payment at normal time periods starting right after the holder pays a lump sum premium towards the cost of the policy. The annuitant can accept the payment as per his aspiration either monthly, quarterly, half-yearly or yearly.

Published On : June 26, 2021
A)
0.7 %
B)
1.2 %
C)
3.5%
D)
4.6%

Correct Answer : Option (C) - 3.5%


The Tara pore Committee on capital account convertibility had laid down a three year, three phase schedule for allowing convertibility. It laid down three pre-conditions:
(a) fiscal consolidation implying that the centre’s fiscal deficit should come down to 3.5 per cent of GDP;
(b) a mandated inflation target; and
(c) strengthening of the financial system to
     (i) involve a near complete clampdown on activities of weak banks,
     (ii) major cut in the CRR,
     (iii) complete deregulation of interest rates.

Published On : June 26, 2021
A)
Assam
B)
J & K
C)
Nagaland
D)
Rajasthan

Correct Answer : Option (B) - J & K


An important function of the Reserve Bank of India is to act as Government banker, agent and adviser. The Reserve Bank is agent of Central Government and of all State Governments in India excepting that of Jammu and Kashmir. State Government transactions are carried out by RBI in terms of the agreement entered into with the State Governments in terms of section 21 A of the Reserve Bank of India Act, 1934.

Published On : June 26, 2021
A)
Tiger before a Palm tree
B)
A dog sitting in a defensive state
C)
Kuber with a purse of money
D)
Capitol of Asokan Pillar

Correct Answer : Option (A) - Tiger before a Palm tree


The logo of the Reserve Bank of India comprises a tiger walking underneath a palm tree. It is contended that the Reserve Bank of India copied the tiger and palm tree symbol from the gold Mohur issued by the East India Company in the 19th century. The double Mohur of William IV had a nice reverse, which was a symbol of Lion and a Palm tree. When RBI was created, it was decided that the reverse of Double Mohur, the Lion and Palm design should be used as the emblem of RBI. The last minute modification was made introducing Tiger instead of Lion.

Published On : June 26, 2021
A)
Corporation authorities
B)
Central Government
C)
State Government
D)
Centre and States

Correct Answer : Option (D) - Centre and States


The proceeds of income tax are compulsorily shareable between the Centre and the States. It is imposed and collected by the Central government but the proceeds are shared between the both. The share of the states in the net proceeds of income tax has varied from 55 per cent as under the First Finance Commission to 85 per cent as under the ninth Commission. regarding criterion for fixation of the shares of individual states, the percentage of the net proceeds of income tax assigned to them, the first to seventh finance commissions recognised ‘population’ and contribution to be the relevant factors. So a major portion of the proceeds of income tax goes to the states. But, the truth is they are shared between the centre and the states.

Published On : June 26, 2021
A)
US $ 40 billion
B)
US $ 50 billion
C)
US $ 70 billion
D)
US $ 80 billion

Correct Answer : Option (A) - US $ 40 billion


India’s exports for the month of August 2012 stood at $22.3 billion compared to August 2011 when it stood at $24.7 billion registering a decline of (-) 9.7%. During August 2012, the imports were $ 38billion as compared to $40 billion in August 2011 registering a decline on (-) 5.08%.

Published On : June 26, 2021