With regards the Indian economy, consider the following statements: 1 India and Australia have concluded a comprehensive Free Trade Agreement. 2. Both countries have already implemented an Economic Cooperation and Trade Agreement (ECTA) in 2022. 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: (b)
India and Australia have agreed to conclude the negotiations for a comprehensive Free Trade Agreement “as soon as possible” as there is huge potential to enhance bilateral commerce in the next five years, according to a joint statement issued on March 12.
Consider the following regarding the Prevention of Money Laundering Act, 2002: 1. The anti-money laundering legislation was passed by the National Democratic Alliance government in 2002. 2. The law was aimed at curbing the process of converting illegally earned money into legal cash. 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)
What is the PMLA?
The anti-money laundering legislation was passed by the National Democratic Alliance government in 2002, and came into force on July 1, 2005.
The PMLA was showcased as India’s commitment to the Vienna Convention on combating money laundering, drug trafficking, and countering the financing of terror (CFT). The law was aimed at curbing the process of converting illegally earned money into legal cash.
The Act empowered the Enforcement Directorate (ED) to control money laundering, confiscate property, and punish offenders.
Which of the following is/are incorrect? 1. Fiscal deficit indicates the amount of government borrowing for that particular year. 2. Tax cut is example of fiscal stimulus. 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)
Which of the following statements is/are correct? 1. Capital expenditure is used to create assets or to reduce liabilities. 2. Salaries, pensions etc. are the examples of Revenue Expenditure. 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 statements is/are correct? 1. Gender-budgeting incorporates a gender perspective at all levels of the budgetary process. 2. Outcome Budget measures the development outcomes of all government programs. 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)
Which one of the following is not correct? 1. In 1969, 6 Banks and in 1980, 14 banks were nationalized. 2. Non-Performing Assets is a loan wherein interest or installments of principal remain overdue for a period of 90 days. 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. SLR is the minimum percentage of deposits that RBI has to maintain in the form of liquid cash, gold or other securities. 2. Increasing the SLR can control inflation in the economy. 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)
Consider the following statements? 1. NITI Aayog has financial allocation powers for Policy programmes. 2. Prime Minister of India is the Chairperson of the Niti Ayog. 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: (a)
This Plan laid main emphasis on growth rate of agriculture to enable other sectors to move forward . First two years of the plan saw record production. The last three years did not measure up due to poor monsoon. Implementation of Family Planning Programmes were amongst major targets of the Plan. Which plan is being referred to here?
(A) Fourth Five year Plan
(B) Fifth Five year Plan
(C) Sixth Five year Plan
(D) Third Five year Plan
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Answer: (a)
Consider the following statements: 1. PPP is based on the law of one price, which states that identical goods will be having the same price. 2. The Big Mac index is a survey created by The Economist magazine in 1986 to measure purchasing power parity (PPP) between nations. 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: (c)
Which of the following statement(s) is/are incorrect? 1. Primary Sector is also called Agriculture and allied sector. 2. Tertiary Sector jobs are called blue collar jobs. 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)
Consider the following statements: 1 The economic cycle is the fluctuation of the economy between periods of expansion and contraction. 2. During Contraction phase, inflation is usually accompanied. 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: (a)
Consider the following statements : 1. Zero Coupon Bonds are debt security that does not pay interest but instead trades at a discount. 2. Bonds linked to inflation are called inflation linked bonds. 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)
Consider the following statements: 1. India’s GDP would include the income from India’s embassy in USA. 2. NNP at factor cost is considered to be the true indicator of national income. 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)
The World Economic Outlook Report is released by?
(A) World Economic Forum
(B) World Bank
(C) Organisation for Economic Co-operation and Development
