With regards the Indian economy, consider the following statements: 1 Artificial Intelligence (AI) will add USD 967 billion to the Indian economy by 2035 and USD 450-500 billion to India's GDP by 2025. 2. AI is projected to account for 10% of India's USD 5 trillion GDP target. Which of the statements given below is/are correct?
(A) 1 only
(B) 2 only
(C) Both 1 and 2
(D) Neither 1 nor 2
Show Answer
Answer: (c)
Estimates predict that AI will add USD 967 billionto the Indian economy by 2035 and USD 450-500 billion to India’s GDP by 2025.
AI is projected to account for 10% of India’s USD 5 trillion GDP target
Consider the following regarding the D-SIB framework: 1 It requires the Reserve Bank to disclose the names of banks designated as D-SIBs starting from 2015. 2. In India, the RBI has mandated the a capital adequacy ratio for scheduled commercial banks to be 9 per cent and for public sector banks 12 per cent. Which of the statements given below is/are correct?
(A) 1 only
(B) 2 only
(C) Both 1 and 2
(D) None
Show Answer
Answer: (c)
The D-SIB framework requires the Reserve Bank to disclose the names of banks designated as D-SIBs starting from 2015 and place these banks in appropriate buckets depending upon their Systemic Importance Scores (SISs).
Depending on the bucket in which a D-SIB is placed, an additional common equity requirement has to be applied to it.
This means these banks will have to earmark additional capital and provisions to safeguard their operations.
While Basel-III Norms have prescribed a capital adequacy ratio (CAR) – the bank’s ratio of capital to risk — of 8 per cent.
Which of the following is/are incorrect? 1 Least Developed Countries have exclusive access to certain international support measures in particular in the areas of development assistance and trade. 2. The concept first originated in the late 1960s and was codified under UN resolution 2768 passed in November 1971. Select the answer using the codes:
(A) 1 only
(B) 2 only
(C) Both 1 and 2
(D) Neither 1 nor 2
Show Answer
Answer: (d)
LDCs are low-income countries confronting severe structural impediments to sustainable development. They are highly vulnerable to economic and environmental shocks and have low levels of human assets.
The concept first originated in the late 1960sand was codified under UN resolution 2768 passed inNovember 1971.
There are currently 46 countries on the list of LDCs which are reviewed every three years by the Committee for Development (CDP).33 are from Africa, nine from Asia, three from the Pacific and one from the Caribbean.
LDCs have exclusive access to certain international support measures in particular in the areas of development assistance and trade.
Which of the following statements is/are correct? 1. Marginal Efficiency of Capital is the expected rate of return over costs of a new capital good. 2. Marginal Propensity to Consume is the additional consumption due to an additional unit of income. Select the answer using the codes:
(A) 1 only
(B) 2 only
(C) Both 1 and 2
(D) Neither 1 nor 2
Show Answer
Answer: (c)
Which of the following is/are correct? 1 Laissez-faire is an economic philosophy that favours government intervention. 2. Personal Disposable Income refers to the income that is available to the households that they can spend as they wish. Select the answer using the codes given below:
(A) 1 only
(B) 2 only
(C) Both 1 and 2
(D) Neither 1 nor 2
Show Answer
Answer: (b)
Which one of the following is incorrect? 1 Gross National Happiness is a term coined by Fourth King of Bhutan, Jigme Singye Wangchuck. 2. In 2012, for the first time World Happiness Report was released by United Nations Sustainable Development Solutions Network. Select the answer using the codes given below:
(A) 1 only
(B) 2 only
(C) Both 1 and 2
(D) Neither 1 nor 2
Show Answer
Answer: (d)
Consider the following statements: 1. Deficit Financing amounts to the creation of money. 2. Current Account Deficit and Fiscal Deficit are together known as twin deficits. Select the correct statements using the code given below:
(A) 1 only
(B) 2 only
(C) Both 1 and 2
(D) Neither 1 nor 2
Show Answer
Answer: (c)
Deficit financing is defined as “borrowings from the Reserve Bank of India against the issue of Treasury Bills and running down of accumulated cash balances”.
When the government borrows from the Reserve Bank of India, it merely transfers its securities to the Bank.
On the basis of these securities the bank issues more currency and puts them into circulation on behalf of the government.
This amounts to the creation of money.
Consider the following statements: 1. Creeping Inflation is the mildest form of inflation. 2. If creeping inflation persist or continues to increase for a longer period of time then it is often called as Chronic. Select the incorrect statement(s) using the code given below:
(A) 1 only
(B) 2 only
(C) Both 1 and 2
(D) Neither 1 nor 2
Show Answer
Answer: (d)
The Plan focused on agriculture, price stability, power and transport. It was a successful plan primarily because of good harvests in the last two years of the plan. Objectives of rehabilitation of refugees, food self sufficiency & control of prices were more or less achieved. Which plan is being referred to here?
(A) First Five year Plan
(B) Fifth Five year Plan
(C) Sixth Five year Plan
(D) Third Five year Plan
Show Answer
Answer: (a)
Consider the following statements: 1 Regressive Tax is a tax that takes a larger percentage of income from high-income groups than from low-income groups. 2. Progressive Tax is a tax that takes a larger percentage of income from low-income groups than from high-income groups. Which of the above given statement(s) is/are correct?
(A) 1 only
(B) 2 only
(C) Both 1 and 2
(D) Neither 1 nor
Show Answer
Answer: (d)
Which of the following statement(s) is/are correct? 1. Base Erosion and Profit Shifting (BEPS) refers to the strategies used by multinational companies to avoid paying tax, by gaps in the tax rules. 2. India has signed Double Taxation Avoidance Agreement (DTAA) with Mauritius, Singapore, Cayman Islands. Select the answer using the codes given below:
(A) 1 only
(B) 2 only
(C) Both 1 and 2
(D) Neither 1 nor 2
Show Answer
Answer: (c)
Consider the following statements: 1 Pigouvian taxes are levied to offset negative externalities. 2. They are a welcome addition to the Government revenues, which can in turn be invested for the welfare of affected public. Which of the above given statement(s) is/are correct?
(A) 1 only
(B) 2 only
(C) Both 1 and 2
(D) Neither 1 nor 2
Show Answer
Answer: (c)
Pigouvian taxes
These are basically levied to offset negative externalities (costs incurred by an affected party which did not choose to incur the same).
They are a welcome addition to the Govt revenues, which can in turn be invested for the welfare of affected public.
Consider the following statements regarding the '5/20 Rule': 1 The 5/20 rule is a norm of the Indian Aviation Ministry. 2. Under it national carriers are required to have five years of operational experience and a fleet of minimum 20 aircraft to fly overseas. 3. This is applicable to all commercial aviation organisations flying passengers. Which of the above given statement(s) is/are correct?
(A) 1 and 3 only
(B) 2 and 3 only
(C) 1 and 2 only
(D) 1, 2 and 3
Show Answer
Answer: (d)
The 5/20 rule is a norm of the Indian Aviation Ministry under which national carriers are required to have five years of operational experience and a fleet of minimum 20 aircraft to fly overseas.
This is applicable to all commercial aviation organisations flying passengers.
This rule has been set up by the Civil Aviation ministry.
Consider the following statements: 1 Payments banks can issue credit cards. 2. Payments banks can Handle cross-border remittances. Which of the above given statement(s) is/are correct?
(A) 1 only
(B) 2 only
(C) Both 1 and 2
(D) Neither 1 nor 2
Show Answer
Answer: (d)
The World Risks Report is released by?
(A) World Economic Forum
(B) World Bank
(C) Organisation for Economic Co-operation and Development
