Revision Series | History | Economy | Miscellaneous| 73

January 11, 2024

Consider the following statements:
1. The Insolvency and Bankruptcy Code (IBC) came into effect in 2016.
2. Under the IBC only companies are declared insolvent and not the owners.
Select the correct statement(s) using the codes given below:

(A) 1 only
(B) 2 only
(C) Both 1 and 2
(D) None of the above

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Answer: (C)

Which of the following objectives are the objectives of the Insolvency and Bankruptcy Code:
1. Maximise the value of debtor’s assets.
2. Promote and encourage entrepreneurship
3. Ensure timely and effective resolution of IBC cases
4. Balance the interests of all stakeholders, including creditors, debtors, and staff.
5. Facilitate the promotion of a competitive market and economy.
Select the incorrect statement(s) using the codes given below:

(A) 1, 2, 3, 4 and 5
(B) 1, 2, 3 and 4 only
(C) 2, 3, 4 and 5 only
(D) 1, 3, and 4 only

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Answer: (A)

India’s GDP is calculated by adding up all kinds of spending in the economy. It includes which of the following components?
1. Private Final Consumption Expenditure.
2. Spending towards investments in boosting the productive capacity of the economy.
3. Net spending as a result of Indians spending on imports and foreigners spending on Indian exports.
Select the correct statement(s) using the codes given below:

(A) 1 and 3 only
(B) 2 and 3 only
(C) 1 and 2 only
(D) All of the above

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Answer: (D)

Which of the following statements is/are correct?
1. K-shaped recovery involves a sharp rise back to a previous peak after a sharp decline in economic growth for all sectors of the economy.
2. In a V-shaped recovery, some industries and groups bounce back quicker from a recession than other groups.
Select the answer using the codes given below:

(A) 1 only
(B) 2 only
(C) Both 1 and 2
(D) Neither 1 nor 2

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Answer: (d)

Consider the following statements-
1. India is a signatory to the European Free Trade Association (EFTA) free trade agreement (FTA).
2. Switzerland is India’s top export destination in EFTA .
Choose the correct statements using the code below-

(A) 1 only
(B) 2 only
(C) Both 1 and 2
(D) None of the above

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Answer: B

Consider the following statements regarding Hedge fund:
1. Hedge fund is a private investment partnership and funds pool that uses varied and complex proprietary strategies and invests or trades in complex products, including listed and unlisted derivatives.
2. It takes both short and long positions, buys and sells equities to generate returns at reduced risk.
Select the correct answer using the code given below:

(A) 1 only
(B) 2 only
(C) Both 1 & 2
(D) Neither 1 nor 2

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Answer: C

The National Skill Development Corporation has tied up with 5 IITs, where students studying in such colleges can also get an IIT tag by opting for a minor specialisation, a diploma or a Bachelor’s or a Master’s degree. Which of the following are included in it?

(A) IIT Ropar.
(B) IIT Guwahati.
(C) IIT Mandi.
(D) All of the above.

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Answer: (D)

Consider the following statements regarding Hedge fund:
1. During 2014-15 to 2018-19, the Indian economy grew at a compounded annual growth rate (CAGR) of 7.4%.
2. The Advance Estimates of National Income are indicator-based and are compiled using the benchmark-indicator method.
Select the correct answer using the code given below:

(A) 1 only
(B) 2 only
(C) Both 1 & 2
(D) Neither 1 nor 2

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Answer: C

Amrit Dharohar Capacity Building Scheme was by which of the following?

(A) Ministry of Tourism.
(B) Ministry of External affairs.
(C) Ministry of Skill development.
(D) None of the above.

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Answer: (A)

This Plan was thorough failure in reaching the targets due to unforeseen events - Chinese aggression, Indo-Pak war, severe drought. Due to conflicts the approach during the later phase was shifted from development to defense & development.
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: (d)