1. Duty Entitlement Pass Book (DEPS) is an scheme of Indian Government provided to _?
[A] Exporters
[B] Importers
[C] Wholesalers
[D] Retailers
Show Answer
Correct Answer: A [Exporters]
Notes:
DEPB (Duty Entitlement Pass Book) is an export incentive scheme of Indian Government provided to Exporters in India.
2. 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.
3. 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.
4. The Government of India is planning to allow 200,000 tones of duty-free sugar imports. Which of the following is a correct statement about Sugar production and consumption of sugar in India?
[A] India is world’s largest sugar producer
[B] India is world’s largest sugar consumer
[C] India’s largest sugar producing state is Uttar Pradesh
[D] Sugar farming in India is concentrated in Deccan peninsula only.
Show Answer
Correct Answer: B [ India is world’s largest sugar consumer ]
Notes:
Rest of the three statements are incorrect. India is largest consumer but largest producer of sugar is Brazil. India’s largest sugar producing state is Maharashtra while sugarcane is produced in maximum quantity in UP. Sugar farming is not concentrated in Deccan peninsula.
5. 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.
6. Planning Commission of India was established by which among the following means?
[A] Act of Parliament
[B] Presidential Order
[C] Presidential Ordinance
[D] Cabinet Resolution
Show Answer
Correct Answer: D [Cabinet Resolution]
7. “Interest rate risk” can be placed in which among the following categories?
[A] Credit risk
[B] Market risk
[C] Operating Risk
[D] All of above
Show Answer
Correct Answer: B [Market risk]
8. Which among the following is a most suitable example of double counting in national income ?
[A] Wages of bus and train drivers
[B] Cotton output and cotton cloth output
[C] Electricity output and water output
[D] Tax receipts and earnings of inland revenue officials
Show Answer
Correct Answer: B [Cotton output and cotton cloth output]
9. What has been the annual growth rate of Indian Population between 2001 and 2011?
[A] 1.26%
[B] 1.39%
[C] 1.64%
[D] 1.89%
Show Answer
Correct Answer: C [1.64%]
10. What was the period of India’s First Five Year Plan?
[A] 1951-56
[B] 1961-66
[C] 1969-1974
[D] 1979-1984
Show Answer
Correct Answer: A [1951-56]
