#1. With reference to Indian economy, consider the following statements: [2015] 1. The rate of growth of Real Gross Domestic Product has steadily increased in the last decade. 2. The Gross Domestic Product at market prices (in rupees) has steadily increased in the last decade. Which of the statements given above is/are correct?

1 only

2 only

Both 1 and 2

Neither 1 nor 2

#2. , someThe terms ‘Marginal Standing Facility Rate’ and ‘Net Demand and Time Liabilities’times appearing in news, are used in relation to (2014)

banking operations

communication networking

military strategies

supply and demand of agricul tural products

#3. The main objective of the 12th Five-Year Plan is (2014)

inclusive growth and poverty reduction

inclusive and sustainable growth

sustainable and inclusive growth to reduce unemployment

faster, sustainable and more inclusive growth

#4. In the context of Indian economy, ‘Open Market Operations’ refers to (2013)

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

#5. Which of the following constitute Capital Account? 1. Foreign Loans 2. Foreign Direct Investment 3. Private Remittances 4. Portfolio Investment Select the correct answer using the codes given below. (2013)

1, 2 and 3

1, 2 and 4

2, 3 and 4

1, 3 and 4

#6. The national income of a country for a given period is equal to the (2013)

total value of goods and services produced by the nationals

sum of total consumption and investment expenditure

sum of personal income of all individuals

money value of final goods and services produced

#7. Which one of the following groups of items is included in India’s foreign-exchange reserves? (2013)

Foreign-currency assets, Special Drawing Rights (SDRs) and loans from foreign countries

Foreign-currency assets, gold holdings of the RBI and SDR’s

Foreign-currency assets, loans from the World Bank and SDRs

Foreign-currency assets, gold holdings of the RBI and loans from the World Bank

#8. Priority Sector Lending by banks in India constitutes the lending to (2013)

agriculture

micro and small enterprises

weaker sections

All of the above

#9. In India, deficit financing is used for raising resources for (2013)

economic development

redemption of public debt

adjusting the balance of payments

reducing the foreign debt

#10. The Reserve Bank of India (RBI) acts as a bankers’ bank. This would imply which of the following? [2012 ] 1. Other banks retain their deposits with the RBI. 2. The RBI lends funds to the commercial banks in times of need. 3. The RBI advises the commercial banks on monetary matters. Select the correct answer using the codes given below:

2 and 3 only

1 and 2 only

1 and 3 only

1, 2 and 3

#11. Which of the following are the methods of Parliamentary control over public finance in India? [2012 ] 1. Placing Annual Financial Statement before the Parliament 2. Withdrawal of moneys from Consolidated Fund of India only after passing the Appropriation Bill 3. Provisions of supplementary grants and vote-on-account 4. A periodic or at least a mid-year review of programme of the Government against macroeconomic forecasts and expenditure by a Parliamentary Budget Office 5. Introducing Finance Bill in the Parliament Select the correct answer using the codes given below:

1, 2, 3 and 5 only

1, 2 and 4 only

3, 4 and 5 only

1, 2, 3, 4 and 5

#12. In India, which of the following have the highest share in the disbursement of credit to agriculture and allied activities? (2011)

Commercial Banks

Cooperative Banks

Regional Rural Banks

Microfinance Institutions

#13. In the context of Indian economy, consider the following statements: [2011 ] 1. The growth rate of GDP has steadily increased in the last five years. 2. The growth rate in per capita income has steadily increased in the last five years. Which of the statements given above is/are correct ?

1 only

2 only

Both 1 and 2

Neither 1 nor 2

#14. A rapid increase in the rate of inflation is sometimes attributed to the “base effect”. What is “base effect”? [2011 ]

It is the impact of drastic deficiency in supply due to failure of crops

It is the impact of the surge in demand due to rapid economic growth

It is the impact of the price levels of previous year on the calculation of inflation rate

None of the statements

#15. All revenues received by the Union Government by way of taxes and other receipts for the conduct of Government business are credited to the ? (2011)

Contingency Fund of India

Public Account

Consolidated Fund of India

Deposits and Advances Fund

#16. Karl Marx explained the process of class struggle with the help of which one of the following theories? [2011 ]

Empirical liberalism

Existentialism

Darwin’s theory of evolution

Dialectical materialism

#17. Which one of the following is not a feature of “Value Added Tax” ? (2011)

It is multi-point destination-based system of taxation

It is a tax levied on value addition at each stage of transaction in the production distribution chain.

It is a tax on the final consumption of goods or services and must ultimately be borne by the consumer

It is basically a subject of the central government and the state governments are only a facilitator for its successful implementation

#18. India is regarded as a country with “Demographic Dividend’’. This is due to (2011)

Its high population in the age group below 15 years

Its high population in the age group of 15–64 years.

Its high population in the age group above 65 years.

Its high total population.

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UPSC question paper – 2011-2015 – Structure of the Indian Economy & Demographics

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