Indian Economy Test 61

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Indian Economy Test 61

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Weekly Quiz Competition

Question 1
1 / -0

Consider the following important sources of tax revenue for the central government.
1. Corporation tax.
2. Taxes on income other than corporation tax .
3. Customs.
4. Consumer price Index for urban Non - manual employees.
Which of the above in&es is/are compiled by Central Statistical Organisation (CSO) ?

A
3 and 4

B
1, 2 and 3

C
Only 4

D
1, 2, 3 and 4
Question 2
1 / -0

Which of the following set of the canons of taxation has not been made the part of Indian tax reforms process till date? Select your answer using the codes given below
1. Equality
2. Certainity
3. Convenience
4. Economy
Codes

A
1 and 2

B
2, 3 and 4

C
1 and 3

D
1, 2, 3 and 4
Question 3
1 / -0

Human Poverty Index(HPI) developed by UNDP is based on which of the following deprivations?
$$1$$. Income deprivation
$$2$$. Literacy deprivation
$$3$$. Social services deprivation
$$4$$. Employment deprivation.
Select the correct answer using the codes given.

A
$$1, 2, 3$$ and $$4$$

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

C
$$1, 3$$ and $$4$$

D
$$2$$ and $$4$$

Solution

The Human Poverty Index (HPI) was first introduced into the Human Development Report by the United Nations Development Programme (UNDP) in 1997 in an attempt to bring together a composite index the different features of deprivation in the quality of life to arrive at an aggregate judgement on the extent of poverty in a community. The Human Poverty Index (HPI) measures deprivation in basic human development by combining basic dimensions of poverty and reveals the differences between human poverty and income poverty. It uses indicators of the most basic dimensions of deprivation, namely, a short life, lack of basic education and lack of access to public and private resources.
Question 4
1 / -0

Which of the following is not matched correctly.

A
IMF- Global financial stability report

B
World bank- World development report

C
WTO- World economic outlook report

D
World economic forum- Global competitiveness report

Solution

The World economic outlook report is a survey conducted and published by International Monetary Fund (IMF). It is published biannually and partly updated two times a year. It portrays the world economy in the near and medium context, with growth projections for up to four years into the future. forecasts include key macroeconomic indicators, such as GDP, inflation, fiscal balance and current account of more than 180 countries around the globe. It also deals with major economic policy issues.
Question 5
1 / -0

Consider the following statements about India and Bangladesh Highway Link Project
1. Bangladesh agreed to start the construction of a highway that link to Kolkata.
2. The highway will connect the North-Eastern states with port city of Kolkata.
3. The project is financed by the Asian Development Bank.
4. The project is part of the larger Asian Highway network project connecting the Asian nation.
Which of the statements given above are correct?

A
1, 2 and 3

B
1, 2 and 4

C
1, 3 and 4

D
2, 3 and 4
Question 6
1 / -0

Consider the following about Shah Commission.
$$1$$. It inquired into all the excesses committed in the Indian Emergency $$(1975-77)$$.
$$2$$. It was headed by Justice JC Shah.
$$3$$. It is a Constitutional Body.
Which of the statements given is/are true?

A
$$1$$ and $$2$$

B
$$2$$ and $$3$$

C
$$1$$ and $$3$$

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

Solution

Shah Commission was a commission of inquiry appointed by Government of India in 1977 to inquire into all the excesses committed in the Indian Emergency (1975 - 77). It was headed by Justice J.C. Shah, a former Chief Justice of India. It was not a Constitutional Body. So only statements 1 and 2 are correct.
Question 7
1 / -0

Consider the following statement regarding $$14$$th finance commission.
$$1$$. It was headed by Y. V. Reddy.
$$2$$. It has increased the share of state from divisible pool of tax to $$42\%$$.
$$3$$. It has recommended distribution of grants to state for local bodies using $$2011$$ population data with weight of $$90\%$$ and area with weight of $$10\%$$.
Choose the correct option.

A
Only $$1$$

B
$$1$$ and $$2$$

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

D
All of these

Solution

The 14th Finance Commission was constituted in January 2014. The Commission's chairman was former RBI governor Y. V. Reddy and its members were Sushma Nath, M. Govinda Rao, Abhijit Sen and Sudipto Mundle. The government has accepted FC’s recommendation to increase the devolution of tax receipts from the centre to the states to 42 percent. FC also recommended the distribution of grants of Rs 2 .88 lakh crore to states for strengthening duly elected gram panchayats and municipal bodies for five years. All the given statements are true here.
Question 8
1 / -0

Consider the following about Expert Group for Revamp of Power Sector.
$$1$$. The expert group headed by Planning Commission member (Energy) BK Chaturvedi.
$$2$$. The group was entrusted with the responsibility to make an assessment of the cumulative losses of distribution utilities of seven major states, including Uttar Pradesh, Tamil Nadu and Rajasthan.
Which of the statements given is/are true?

A
$$1$$ and $$2$$

B
Only $$1$$

C
Only $$2$$

D
None of these
Question 9
1 / -0

Better Life Index is released by ______.

A
APEC

B
EU

C
OECD

D
OPEC

Solution

The mission of the Organisation for Economic Co-operation and Development (OECD) is to promote policies that will improve the economic and social well-being of people around the world. The Better Life Index by OECD is designed to let people visualise and compare some of the key factors like education, housing, environment, and so on that contribute to well-being in OECD countries. It’s an interactive tool that allows people to see how countries perform according to the importance they give to particular topics that make for a better life.
Question 10
1 / -0

The Rural Landless Employment Guarantee Programme (RLEGP) is an extension of:

A
Integrated Rural Development Programme (IRDP)

B
Minimum Needs Programme (MNP)

C
National Rural Employment Programme (NREP)

D
Training of Rural Youth for Self Employment (TRYSEM)

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Re-Attempt Weekly Quiz Competition

Indian Economy Test 61

Result

Indian Economy Test 61

Score

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Rank

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SHARING IS CARING

Question 1

3 and 4

1, 2 and 3

Only 4

1, 2, 3 and 4

Question 2

1 and 2

2, 3 and 4

1 and 3

1, 2, 3 and 4

Question 3

$$1, 2, 3$$ and $$4$$

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

$$1, 3$$ and $$4$$

$$2$$ and $$4$$

Solution

Question 4

IMF- Global financial stability report

World bank- World development report

WTO- World economic outlook report

World economic forum- Global competitiveness report

Solution

Question 5

1, 2 and 3

1, 2 and 4

1, 3 and 4

2, 3 and 4

Question 6

$$1$$ and $$2$$

$$2$$ and $$3$$

$$1$$ and $$3$$

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

Solution

Question 7

Only $$1$$

$$1$$ and $$2$$

$$2$$ and $$3$$

All of these

Solution

Question 8

$$1$$ and $$2$$

Only $$1$$

Only $$2$$

None of these

Question 9

APEC

EU

OECD

OPEC

Solution

Question 10

Integrated Rural Development Programme (IRDP)

Minimum Needs Programme (MNP)

National Rural Employment Programme (NREP)

Training of Rural Youth for Self Employment (TRYSEM)

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My Perfomance

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