Q01. Match List-I with List-II and select the correct answer using the codes given below the lists. List-I (a) Dutt Committee (1969) (b) Wanchoo Committee (1971) (c) Rajmannar Committee (1971) (d) Chakarvarty Committee (1985) List-II 1. Industrial Licensing 2. Direct taxes 3. Centre-State 4. Monetary system Code (a) (b) (c) (d)
A 1 B 1 C 4 D 4
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Correct answer: 1
Q02. Match List-I with List-II and select the correct answer using the codes given below the lists. List-I (Committees) (a) Disinvestment of Shares in Public Sector Enterprises (b) Industrial sickness (c) Tax Reforms (d) Reforms in Insurance sector List-II (Chaired by) 1. Rajah Chelliah 2. Omkar Goswami 3. R.N. Malhotra 4. C. Rangarajan Code (a) (b) (c) (d)
A 1 B 4 C 4 D 1
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Correct answer: 4
Q03. Assertion (A): An important policy instrument of economic liberalisation is reduction in import duties on capital good. Reason (R): Reduction in import duties would help the local entrepreneurs to improve technology to face the global markets. In the context of above two statements, which one of the following is correct? Code
A Both (A) and (R) are true and (R) is the correct explanation of B Both (A) and (R) are true, but (R) is not the correct explanation of (A) C (A) is true, but (R) is false D (A) is false, but (R) is true
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Correct answer: Both (A) and (R) are true and (R) is the correct explanation of
Q04. Match List-I with List-II and select the correct answer using the codes given below the lists. List-I (Specialisation) (a) Taxation (b) Agriculture (c) Monetary Policy (d) Indian Economy Planning and State Land Reforms (e) Fiscal Policy List-II (Name) 1. M. Govinda Rao 2. C. Rangrajan 3. Arvind Panagariya 4. Ashok Gulati 5. Parthasarthy Shome Code (a) (b) (c) (d) (e)
A 2 B 1 C 5 D 5
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Correct answer: 5
Q05. Consider the following statements. 1. The quantity of imported edible oils is more than the domestic production of edible oils in the last five years. 2. The Government does not impose any custom duty on all the imported edible oils as a special case. Which of the statement(s) given above is/are correct?
A Only 1 B Only 2 C Both 1 and 2 D Neither 1 nor 2
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Correct answer: Only 1
Q06. As per the NSSO 70th Round ‘Situation Assessment Survey of Agricultural Households’, consider the following statements. 1. Rajasthan has the highest percentage share of agricultural households among its rural households. 2. Out of the total agricultural households in the country, a little over 60 percent belong to OBCs. 3. In Kerala, a little over 60 percent of agricultural households reported to have received maximum income from sources other than agricultural activities. Which of the statement(s) given above is/are correct?
A Only 2 and 3 B Only 2 C Only 1 and 3 D 1, 2 and 3
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Correct answer: Only 1 and 3
Q07. If a commodity is provided free to the public by the Government, then
A the opportunity cost is zero B the opportunity cost is ignored C the opportunity cost is transferred from the consumers of the product to the tax-paying public D the opportunity cost is transferred from the consumers of the product to the Government
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Correct answer: the opportunity cost is transferred from the consumers of the product to the tax-paying public
Q08. According to India, State of Forest Report 2017, what percentage of total geographical area of the country is under forest cover?
A 21.04 B 21.54 C 20.54 D 20.04
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Correct answer: 21.54
Q09. The first Union Territory of India to run 100% on solar energy is
A Chandigarh B Diu C Andaman-Nicobar D Puducherry
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Correct answer: Diu
Q10. Despite being a high saving economy, capital formation may not result in significant increase in output due to
A weak administrative machinery B illiteracy C high population density D high capital-output ratio
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Correct answer: high capital-output ratio
Q11. In terms of PPP the Indian economy’s rank in the world is
A 3rd B 4th C 6th D 10th
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Correct answer: 3rd
Q12. RBI has cleared the resolution to start Payment Banks in India for improving Financial inclusion. Following committee had recommended the creation of Payment Banks.
A Arvind Mayaram B Y.V. Reddy C Bimal Jalan D Nachiket Mor
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Correct answer: Nachiket Mor
Q13. In which of the following financial years and the devaluation of rupee in India took place twice?
A 1966-67 B 1991-92 C 1990-91 D 1989-90
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Correct answer: 1991-92
Q14. Sustainable development is described as the development that meet the needs of the present without compromising the ability of future generations to meet the needs perspective, inherently the concept of sustainable development is interwined with which of the following concepts?
A Social Justice and empowerment B Inclusive growth C Globalisation D Carrying capacity
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Correct answer: Carrying capacity
Q15. Among the following, which one of the following was the purpose for which the Deepak Parekh Committee was constituted?
A The study the current Socioeconomic conditions of certain minority communities B To suggest measures for financing the development of infrastructure C To fame a policy on the production of genetically modified organisms D To suggest measures to reduce the fiscal deficit in the Union Budget
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Correct answer: To suggest measures for financing the development of infrastructure
Q16. Which one of the following brings out the publication called Energy Statistics from time-to-time?
A Central Power Research Institute B Planning Commission C Power Finance Corporation Limited D Central Statistical Organisation
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Correct answer: Central Statistical Organisation
Q17. With which one of the following has the B.K. Chaturvedi Committee dealt?
A Review of Centre - State relations B Review of Delimitation Act C Tax reforms and measures to increase revenues D Price reforms in the oil sector
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Correct answer: Price reforms in the oil sector
Q18. In the context of independent India’s economy, which one of the following was the earliest event to take place?
A Nationalisation of Insurance Company B Nationalisation of State Bank of India C Entactment of Banking Regulation Act D Introduction of first Five Year Plan
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Correct answer: Entactment of Banking Regulation Act
Q19. Tourism industry in India is quite small compared to many other countries in terms of India’s potential and size. Which one of the following statements is correct in this regard?
A Distances in India are too far apart and its luxury hotels are too expensive for western tourists B For most of the months India is too hot for western tourists to feel comfortable C Most of the picturesque resorts in India such as in the North- East and Kashmir are, for all practical purposes, out of bounds D In India, the infrastructure required for attractive tourists is inadequate
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Correct answer: In India, the infrastructure required for attractive tourists is inadequate
Q20. Consider the following statements. Industrial development in India, to an extent, is constrained by 1. Lack of adequate entrepreneurship and leadership in business. 2. Lack of savings to invest. 3. Lack of technology, skills and infrastructure. 4. Limited purchasing power among the larger masses. Which of the above statements are correct?
A 1, 2 and 3 B 1, 3 and 4 C 2, 3 and 4 D 1, 2 and 4
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Correct answer: 2, 3 and 4