Indian Economy Test 33

Result

Indian Economy Test 33

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Weekly Quiz Competition

Question 1
1 / -0

Which of the following taxes is/are levied by the Union and collected and appropriated by the States?

A
Stamp duties

B
Passenger and good tax

C
Estate duty

D
Taxes on newspaper

Solution

As mention in article $$268$$ of Indian Constitution. Stamp Duties are mentioned in the Union List shall be levied by the Government of India but collected and appropriated by the States.
Question 2
1 / -0

Which one of the following companies is eligible for the financial assistance and loans from the Industrial Finance Corporation of India (IFCI)?

A
Limited Public Companies

B
Public Co-Operatives

C
Private Limited Companies

D
All of the above

Solution

IFCI, previously Industrial Finance Corporation of India, is an Indian government owned development bank to cater to the long-term finance needs the industrial sector. It was the first development finance institution established by the Indian government after independence. Until the establishment of ICICI in 1991, IFCI remained solely responsible for implementation of the government's industrial policy initiatives.
Any public limited company or co-operative society incorporated and registered in India which is engaged, or proposes to engage itself, in the manufacture, preservation or processing of goods, or in the shipping, mining or hotel industry or in the generation or of distribution of electricity or any other form of power, is eligible for financial assistance. later by an amendment even Private limited companies have become eligible for loans from IFCI.
Question 3
1 / -0

Which one of the following missions of the World Bodies/ Organisation has set-up the Industrial Credit and Investment Corporation of India (ICICI) bank for the developing small and medium industries in India in the Private Sector?

A
World Bank

B
International Monetary Fund

C
Asian Development Bank

D
World Trade Organisation

Solution

ICICI was formed in 1955 at the initiative of the World Bank, the Government of India and representatives of Indian industry. The principal objective was to create a development financial institution for providing medium-term and long-term project financing to Indian businesses.
Question 4
1 / -0

India's market regulator SEBI is on course to relax investment norms for sovereign wealth funds, the investment vehicles which are directly controlled by the government of a country. The main reason behind this move is ____________.

A
the desire of the Government of India to attract more foreign investment

B
pressure by foreign governments on India to execute specific mutual agreements on finanacial services

C
SEBI's desire to create a more level playing field for foreign investors

D
RBIs relevant directive to SEBI

Solution

Market regulator Sebi (Securities and Exchange Board of India) was on course to relax investment norms for sovereign wealth funds, the investment vehicles which are directly controlled by the government of a country, from 10% to 20% that applied to foreign institutional investors (FIIs). The reason behind the move was to attract foreign investment in India.
Question 5
1 / -0

Which one among the following is the type of poverty which compares the total wealth of the poorest one-third of the population with the total wealth of richest 1% of the population?

A
Absolute poverty

B
Severe poverty

C
Relative poverty

D
Mass poverty

Solution

Poverty can be measured in absolute or relative terms. Relative poverty is calculated based on social context. Such an estimation would be wherein the total wealth of the poorest one-third of the population is compared with the total wealth of richest 1% of the population. However, the count of poorpeoplecan increase despite rise in income.
Question 6
1 / -0

With reference to Indian economy consider the following statements:
1. Service Area Approach programme was started in the late 90s.
2. Service Area Approach was devised to bring economic growth in the assigned specific semi-urban and rural areas.
Which of the statements given above is/are correct?

A
Only 1

B
Only 2

C
Both 1 and 2

D
Neither 1 nor 2

Solution

Service Area Approach was introduced in 1989 and was basically an improved version of the area approach of the Lead Bank Scheme. Under this approach, each commercial bank was designated to serve 15-25 villages for planned and orderly development of the rural and semi-urban areas.
Question 7
1 / -0

Which one of the following banks is the new set of owner of the Unit Trust of India - $$2$$ $$(UTI-2)$$ after the repealed of original UTI Act?

A
State Bank of India

B
Bank of Baroda

C
Punjab National Bank

D
All of the above
Question 8
1 / -0

Consider the following statements
$$1.$$ ISE is a national level stock exchange.
$$2.$$ It aims to address the needs of small companies and retail investors.
Which of the above statements is/ are correct?

A
Only $$1$$

B
Only $$2$$

C
Both $$1$$ and $$2$$

D
Neither $$1$$ nor $$2$$
Question 9
1 / -0

When did the Lead Bank Scheme to reduce the development gap between different regions of the country launched in India?

A
Towards the end of First Five Year Plan

B
Towards the close of the second Five Year Plan

C
Towards the close of the Plan Holiday in Indian economy

D
Towards the end of the Eighth Five Year Plan

Solution

Lead Bank Scheme was launched in 1969 towards the end of the Plan Holiday of 1966-1969 with the objectives of addressing the problem of unemployment, poverty and raising the living standard of the poor. Under the scheme, each district was assigned to different banks (private and public) to act as a consortium leader to coordinate the efforts of all banks in the district in matters like credit planning and branch expansion.
Question 10
1 / -0

Consider the following functions of the Foreign Exchange Management Act (FEMA)
$$1.$$ FEMA restricts activities such as payments made to any person outside India or receipts from them.
$$2.$$ FEMA imposes restriction on people living in India who carry out transactions in foreign exchange, foreign security or who own or hold immovable property abroad.
$$3.$$ FEMA regulates the exporters to furnish their export details to RBI.
Which of the statements given above is/ are correct?

A
$$1, 2$$ and $$3$$

B
$$1$$ and $$3$$

C
$$2$$ and $$3$$

D
Only $$1$$

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Re-Attempt Weekly Quiz Competition

Indian Economy Test 33

Result

Indian Economy Test 33

Score

-

Rank

-

SHARING IS CARING

Question 1

Stamp duties

Passenger and good tax

Estate duty

Taxes on newspaper

Solution

Question 2

Limited Public Companies

Public Co-Operatives

Private Limited Companies

All of the above

Solution

Question 3

World Bank

International Monetary Fund

Asian Development Bank

World Trade Organisation

Solution

Question 4

the desire of the Government of India to attract more foreign investment

pressure by foreign governments on India to execute specific mutual agreements on finanacial services

SEBI's desire to create a more level playing field for foreign investors

RBIs relevant directive to SEBI

Solution

Question 5

Absolute poverty

Severe poverty

Relative poverty

Mass poverty

Solution

Question 6

Only 1

Only 2

Both 1 and 2

Neither 1 nor 2

Solution

Question 7

State Bank of India

Bank of Baroda

Punjab National Bank

All of the above

Question 8

Only $$1$$

Only $$2$$

Both $$1$$ and $$2$$

Neither $$1$$ nor $$2$$

Question 9

Towards the end of First Five Year Plan

Towards the close of the second Five Year Plan

Towards the close of the Plan Holiday in Indian economy

Towards the end of the Eighth Five Year Plan

Solution

Question 10

$$1, 2$$ and $$3$$

$$1$$ and $$3$$

$$2$$ and $$3$$

Only $$1$$

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