Indian Economy Test 31

Result

Indian Economy Test 31

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Weekly Quiz Competition

Question 1
1 / -0

Which one of the following is not a goal included in the Millennium Development Goal of United Nations?

A
To halve the people of the world living with hunger

B
To halve the proportion of the worlds people living below $ 2.5

C
To halve the proportion of the world's people without access to safe drinking water

D
To achieve gender equality in access to education

Solution

The eight targets in the Millennium Development Goals of United Nations are:
1) Eradicate extreme hunger and poverty
2) Achieve gender equality
3) Provide universal primary education
4) Alleviate the status of maternal health
5) Fight against HIV, malaria and other diseases
6) Ensure environment sustainability which includes the goal to halve the population without access to safe drinking water
7) Reduce child mortality
8) Promote global partnership for development
Question 2
1 / -0

Which one of the following is the objective of social forestry which is started by Indian Government?

A
To increase green coverage

B
To create more employment opportunities

C
To reduce urbanisation in rural areas

D
To produce raw material for rayon and match factories

Solution

Social Forestry program is aimed to reclaim the barren and fallow land by afforestation. It aims to protect the environment and encourage social development. The program was launched by the National Commission on Agriculture in 1976.
Question 3
1 / -0

The basic aim of Lead Bank Scheme is that ___________.

A
big banks should try to open offices in each district

B
there should be stiff competition among the various nationalised banks

C
individual banks should adopt particular districts for intensive development

D
all the banks should make intensive efforts to mobilise deposits

Solution

Lead Bank Scheme was launched in 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 4
1 / -0

Which one of the following states has the highest percentage of poverty according to the Suresh Tendulkar Commission in India?

A
Bihar

B
West Bengal

C
Odisha

D
Assam

Solution

Odisha has been identified as the most poverty-ridden state by the Suresh Tendulkar Commission. It fixed the poverty line in the state at 695 in rural and 861 in urban areas. The rural figures are lowest for any of the states in the Indian subcontinent. The lowest urban poverty line was for Chhattisgarh.
Question 5
1 / -0

Which one of the following agencies in the Indian capital market has authority to regulate the mutual fund markets in India?

A
IRDA

B
SEBI

C
RBI

D
IBPS

Solution

Mutual funds are regulated primarily by Securities and Exchange Board of India (SEBI). In 1996, SEBI formulated the Mutual Fund Regulation. SEBI is also the apex regulator of capital markets and its intermediaries.
Question 6
1 / -0

In the context of Indian economy, 'Open Market Operations' refers to ______________.

A
borrowing by scheduled banks from the RBI

B
lending by commercial banks to industry and trade

C
purchase and sale of government securities by the RBI

D
None of the above

Solution

Open market operations (OMO) refer to the buying and selling of government securities in the open market in order to expand or contract the amount of money in the banking system. Securities' purchases inject money into the banking system and stimulate growth, while sales of securities do the opposite and contract the economy.
Question 7
1 / -0

Consider the following statements. In India, taxes on transaction in stock exchanges and future markets are:
$$1.$$ Levied by the union.
$$2.$$ Collected by the states.
Which of the statements given above is/are correct?

A
Only $$1$$

B
Only $$2$$

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

D
None of these

Solution

As per Article 269 of the Constitution of India, taxes other than stamp duties on transactions in stock-exchanges and futures markets are levied and collected by the Union but assigned to the states.
Question 8
1 / -0

Consider the following statements:
$$1.$$ Housing Development Finance Corporation Limited (HDFC) is a national level housing finance institution set up in $$1977$$.
$$2.$$ HDFC was established as a subsidiary company of the ICICI.
Which of the statements given above is/are correct?

A
Only $$1$$

B
Only $$2$$

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

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

Which one of the following statements is correct with reference to FEMA in India?

A
The Foreign Exchange Regulating Act (FERA) was replaced by Foreign Exchange Management Act (FEMA) in the year $$2001$$.

B
FERA was given a sunset clause of one year till $$31st$$ May, $$2002$$ to enable enforcement directorate to complete the inrenttigation of pending issues.

C
Under FEMA, violation of foreign exchange rules has ceased to be a criminal offence.

D
As per the new dispensation, Enforcement Directorate can arrest and prosecute the people for violation of foreign exchange rule.

Solution

Foreign Exchange Regulation Act (FERA) was replaced by the much milder Foreign Exchange Management Act (FEMA). Under FEMA, violation of foreign exchange rules has ceased to be a criminal offence and would now be treated as a civil offence and the Enforcement Directorate would no longer have the power to arrest persons for such offences.
Question 10
1 / -0

In which one of the following Five Year Plan of the India economy did the Security Exchange Board of India (SEBI) make a statutory Institution?

A
Fourth Five Year Plan

B
Fifth Five Year Plan

C
Sixth Five Year Plan

D
Eighth Five Year Plan

Solution

Eighth FIve year Plan happened between 1992–1997. During, 1989–91 was a period of economic instability in India and hence no five-year plan was implemented. Between 1990 and 1992, there were only Annual Plans. In 1991, India faced a crisis in foreign exchange (forex) reserves, left with reserves of only about US$1 billion. The SEBI was established as a non statutory body in 1988 to regulate the securities to regulate the Securities market of India. It attained statutory status in 1992.

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Re-Attempt Weekly Quiz Competition

Indian Economy Test 31

Result

Indian Economy Test 31

Score

-

Rank

-

SHARING IS CARING

Question 1

To halve the people of the world living with hunger

To halve the proportion of the worlds people living below $ 2.5

To halve the proportion of the world's people without access to safe drinking water

To achieve gender equality in access to education

Solution

Question 2

To increase green coverage

To create more employment opportunities

To reduce urbanisation in rural areas

To produce raw material for rayon and match factories

Solution

Question 3

big banks should try to open offices in each district

there should be stiff competition among the various nationalised banks

individual banks should adopt particular districts for intensive development

all the banks should make intensive efforts to mobilise deposits

Solution

Question 4

Bihar

West Bengal

Odisha

Assam

Solution

Question 5

IRDA

SEBI

RBI

IBPS

Solution

Question 6

borrowing by scheduled banks from the RBI

lending by commercial banks to industry and trade

purchase and sale of government securities by the RBI

None of the above

Solution

Question 7

Only $$1$$

Only $$2$$

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

None of these

Solution

Question 8

Only $$1$$

Only $$2$$

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

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

Question 9

The Foreign Exchange Regulating Act (FERA) was replaced by Foreign Exchange Management Act (FEMA) in the year $$2001$$.

FERA was given a sunset clause of one year till $$31st$$ May, $$2002$$ to enable enforcement directorate to complete the inrenttigation of pending issues.

Under FEMA, violation of foreign exchange rules has ceased to be a criminal offence.

As per the new dispensation, Enforcement Directorate can arrest and prosecute the people for violation of foreign exchange rule.

Solution

Question 10

Fourth Five Year Plan

Fifth Five Year Plan

Sixth Five Year Plan

Eighth Five Year Plan

Solution

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