1. Which of the following is not a correct statement with respect to Masala Bonds?
[A] They allow Indian companies to raise overseas debts in Indian currency
[B] Interest Payment on Masala Bonds is in Indian Rupee
[C] Most popular market for Masala Bonds is New York currently
[D] All of the above are correct statements
Show Answer
Correct Answer: C [Most popular market for Masala Bonds is New York currently]
Notes:
Masala bonds allow Indian companies to raise overseas debt in the Indian currency. The instrument shields the issuers from currency fluctuations mainly because interest payments and redemption is in rupees. At the same time, investors get interest rates that are higher than in their domestic markets. In third statement, the most popular market for Masala bonds currently is London.
2. Shankar-6 or Sankar-6 is a variety of which of the following commodities?
[A] Mustard
[B] Cotton
[C] Groundnut
[D] Soyabean
Show Answer
Correct Answer: B [ Cotton ]
Notes:
It is a much traded Cotton variety.
3. Export of which of the following is an Invisible Export?
[A] Services
[B] Prohibited goods
[C] Unrecorded goods
[D] Goods through smuggling
Show Answer
Correct Answer: A [ Services ]
Notes:
Any export that does not have a tangible physical presence (e.g. expertise, insurance underwriting). Here, Invisible Export means export of Services
4. Which of the following statements is correct about the chairperson of Monetary Policy Committee (MPC)?
[A] The chairperson of the committee is appointed by the RBI Governor
[B] RBI Governor is the ex officio Chairperson of the committee
[C] Finance Minister is the ex-officio chairperson of the committee
[D] The Chairperson of the committee is appointed by the Finance Minister
Show Answer
Correct Answer: B [RBI Governor is the ex officio Chairperson of the committee]
Notes:
The Monetary Policy Committee consists of six Members. Three Members are from the RBI and the other three Members appointed by the Central Government. The Members appointed by the Central Government hold the office for a period of four years. The Governor of RBI is the ex-officio Chairperson of the committee.
5. Which of the following industries is the not covered in the Index of Eight Core Industries?
[A] Electricity
[B] Crude Oil
[C] Natural Gas
[D] Pharmaceutical
Show Answer
Correct Answer: D [Pharmaceutical]
Notes:
The industries covered in the Index of Eight Core are namely Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizers, Steel, Cement and Electricity.
6. From July 1, 2017, the nationwide GST (Goods & Services Tax) has been rolled out in India, making the country a single market. What is the current size of Indian economy?
[A] USD 1 Trillion
[B] USD 2 Trillion
[C] USD 3 Trillion
[D] USD 4 Trillion
Show Answer
Correct Answer: B [ USD 2 Trillion ]
Notes:
India is a USD 2 trillion economy with around 1.3 billion people.
7. Which of the following crop types are affected generally positively by western disturbances in India?
[A] Rabi Crop
[B] Kharif Crop
[C] Zaid Crop
[D] None of them
Show Answer
Correct Answer: A [Rabi Crop]
Notes:
Western Disturbances are important to the development of the Rabi crop in the northern subcontinent, which includes the locally important staple wheat.
8. In which among the following years, Essentials Commodities act enacted?
[A] 1955
[B] 1958
[C] 1961
[D] 1975
Show Answer
Correct Answer: A [1955]
Notes:
Under the Essential Commodities Act 1955, the State Governments/UT Administrations have issued various control orders to regulate various aspects of trading in essential commodities such as food grains, edible oils, pulses, kerosene and sugar etc. The Central Government regularly monitors the action taken by State Governments/UT Administrations to implement the provisions of the Act.
9. The “Mid Day Meal Scheme” is a scheme for school children lunch, being implemented by which among the following ministries/ departments?
[A] Ministry of Education
[B] Ministry of Human Resource Development
[C] Ministry of women and child development
[D] Department of Food & Public Distribution
Show Answer
Correct Answer: B [Ministry of Human Resource Development]
10. In which year, “20 Point Programme” was initiated for the first time in India?
[A] 1972
[B] 1975
[C] 1976
[D] 1978
Show Answer
Correct Answer: B [1975]
Notes:
The Twenty Point Programme was initially launched by Prime Minister Indira Gandhi in 1975 and was subsequently restructured in 1982 and again on 1986. With the introduction of new policies and programmes it has been finally restructured in 2006 and it has been in operation at present. The Programmes and Schemes under TPP-2006 are in harmony with the priorities contained in the National Common Minimum Programme, the Millennium Development Goals of the United Nations and SAARC Social Charter. The restructured Programme, called Twenty Point Programme – 2006 (TPP-2006), was approved by the Cabinet on 5th October, 2006 and operated w.e.f 1.4.2007.
