INDIAN ECONOMY - 02 (LEE EDUTEK PRIVATE LIMITED PH NO 9704875189)

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QUIZ FOR INDIAN ECONOMY

The banks are required to maintain a certain ratio between their cash in the hand and totals assets. This is called

1 point

Statutory Bank Ratio (SBR)

Statutory Liquid Ratio (SLR)

Central Bank Reserve (CBR)

Central Liquid Reserve (CLR)

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Deficit financing means that the government borrows money from the

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RBI

local bodies

big businessmen

IMF

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Debenture holders of a company are its

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shareholders

creditors

debtors

directors

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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?

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Rs. 50,000 crores

Rs. 25,000 crores

Rs. 1,00,000 crores

Rs. 1,25,000 crores

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In pursuance with the recommendations of Narsimhan Committee, the RBI has framed new guidelines

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to govern entry of new private sector banks to make the banking sector more competitive

to reduce the freedom given to banks to rationalize their existing branch network

to setup more foreign exchange banks

to lend more easily for industrial development

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The co-operative credit societies have a

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two-tier structure

three-tier structure

four-tier structure

five-tier structure

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Non Tax revenues can be increased by improving the working of the

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State Road Transport Corporations

electricity boards

commercial irrigation projects

All of the above

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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?

1 point

Reliance Energy

Essar Oil

GAIL

ONGC

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Excise duty is a tax levied on the

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import of goods

export of goods

production of goods

sale of goods

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Which of the following is not viewed as a national debt?

1 point

Provident Fund

Life Insurance Policies

National Saving Certificate

Long-term Government Bonds

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Notes on which denomination has the portrait of Mahatma Gandhi printed on them?

1 point

1000 rupee

500 rupee

100 rupee

All of the above

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Regional rural banks I.have limited area of operation II.have free access to liberal refinance facilities from NABARD III.are required to lend only to weaker sections

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I, III

II, III

I, II, III

I, II

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Devaluation of currency will be more beneficial if

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prices of domestic goods remain constant

prices of exports remain constant

prices of imports remains constant

prices of exports rise proportionately

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The Board of Industrial and Financial Reconstruction (BIFR) came into existence in

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1984

1986

1987

1989

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If an economy is equilibrium at the point where plans to save and to invest are equal, then government expenditure must be

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zero

equal to government income

larger than government income

negative

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Of the gross tax revenue of the Union Government the indirect taxes account for nearly

1 point

70 per cent

75 percent

65 percent

60 percent

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The current price index (base 1960) is nearly 330. This means that

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all items cost 3-3 times more than what they did in 1960

the prices of certain selected items have gone up to 3-3 times

weighted means of prices of certain item has increased 3-3 times

gold price has gone up 3-3 times

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Revenue of the state governments are raised from the following sources, except

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entertainment tax

expenditure tax

agricultural income tax

land revenue

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Since the inception of the co-operative movement, rural credits has been

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institutionalized

rationalized

cheapened

All of the above

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Reserve Bank of India was nationalized in the year

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1935

1945

1949

1969

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In India, rural incomes are generally lower than the urban incomes, which of the following reasons account for this? I.A large number of farmers are illiterate and know little about scientific agriculture II.Prices of primary products are lower than those of manufactured products III.Investment in agriculture has been low when compared to investment in industry

1 point

I, II, III

I, II

I, III

II, III

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The condition of indirect taxes in the country's revenue is approximately

1 point

70 percent

75 percent

80 percent

86 percent

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National Agricultural Insurance Scheme replacing Comprehensive Crop Insurance Scheme was introduced in the year

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1997

1998

1999

2000

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Our financial system has provided for the transfer of resources from the centre to the states; the important means of resource transfer are

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tax sharing

grant-in-aids

loans

All the above

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Fiscal deficit in the Union Budget means

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the difference between current expenditure and current revenue

net increase in Union Governments borrowings from the Reserve Bank of India

the sum of budgetary deficit and net increase in internal and external borrowings

the sum of monetized deficit and budgetary deficit

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