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Static General Awareness

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darealpunk's version from 2017-06-27 12:30

Section

Question Answer
1) Which is at the apex of Industrial Finance in India? Industrial Development Bank of India,
2) By which bill does the government make arrangement for the collection of revenues for a year? Finance Bill,
3) Which forms the largest share of deficit in Govt.of India budget? Fiscal deficit,
4) Which Committee was formed to suggest means for eradicating black money? Cheiliah Committee,
5) Which taxes was levied on the buying/selling of various commodities on recognized exchanges in India? Fringe Benefit Tax,
6) The slope at any point on an indifference curve is known an – Marginal rate of substitution,
7) The Income Tax Act was passed in independent India – In 1961,
8) Which committees examined and suggested Financial sector reforms in India – Narsimham Committee,
9) Which is the prescribed investment limit for medium enterprises in the manufacturing sector as per the Micro, Small and Medium Enterprises Development Act, 2006? More than Rs. 5 crores and less than Rs. 10 crores,
10) Mahalanobis Plan Model adopted in India in the mid-fifties aimed at – setting up heavy industries which were capital intensive,
11) In which years was the trade balance favourable to India? 1972-73 and 1976-77,
12) A unit price elastic demand curve will touch – Neither price axis, nor quantity axis,
13) Which agencies is associated with business of Insurance sector as a regulator? IRDA,
14) The New Economic Policy was introduced in India in the year 1991,
15) Gilt edged market means – Market of Government securities,
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Section

Question Answer
16) Subsidies mean – Payment made by Government to business enterprises, without buying goods or services,
17) Who is called the Father of Economics? Adam Smith,
18) In case of inferior goods the income elasticity of demand is – Negative,
19) The concept of mixed economy means – Simultaneous existence of private and public sector,
20) The most important economic function of stock exchange is to – provide a ready market for old securities,
21) Which goods or services could not be provided by a pure free market economy – National defence,
22) The record of country's transactions in goods, services and assets with the rest of the world is its – Balance of payment,
23) Which assets is usually not depreciated – Land,
24) Which organisations is the regulator of stock exchanges in India? SEBI,
25) Which online fashion store was recently taken over by Indian online megastore Flipkart? Myntra.com,
26) The National Commodity and Derivatives Exchange Limited (NCDEX) is located in which cities? Kolkata,
27) Which is the oldest Development Financial Institution of India? IFCI,
28) Which is the best measure of economic growth of a country? GNP,
29) What is the measure of a worker’s real wage? The purchasing power of his earnings,
30) How is the difference between visible exports and visible imports defined? Balance of trade,
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Section

Question Answer
31) Who is the deputy chairman of the Planning Commission? He holds the rank of a cabinet minister,
32) What is the main objective of Antyodaya programme? Uplift the poor,
33) From where does the National Stock Exchange functions? Mumbai,
34) In which terms is the Rate of growth of an economy measured? National income,
35) Among Indian Economists who had done pioneering work on National Income? V. K. R. V. Rao,
36) What does Net factor income from abroad added to GDP give? GNP,
37) With whose assistance was Bokaro Steel Limited established? Soviet Union,
38) Which State produces maximum pulses in the country? Madhya Pradesh,
39) What does S and P 500 relate to? An index of stocks of large companies,
40) Which is the largest general insurance company of India on the basis of gross premium collection inclusive of foreign operations? New India Assurance Company Limited,
41) The proposed Micro Units Development Refinance Agency (MUDRA Bank) will have a Credit Guarantee corpus of – Rs. 3000 crore,
42) The term Front-end load is associated with –Mutual funds,
43) When an insurer passes some part of or all risks to another insurer called Re-insurer, this type of insurance is called – Re-insurance,
44) An agency which holds electronic records of insurance policies issued to individuals, is known as – Insurance Repository,
45) Monopolist can determine – Either price or output,
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Section

Question Answer
46) The most appropriate measure of a country's economic growth is its – per capita real income,
47) To obtain the break even point in rupee sales value, total fixed costs are divided by – profit/volume ratio,
48) Which decades in Indian Planning deserves to be called The Decade of Jobless Growth? 1991-2000,
49) The value of all final goods and services produced by the normal residents of a country arid their property, whether operating within the domestic territory of the country or outside in a year is termed as – Net National Income,
50) National product at factor cost is equal to – National product at market prices – indirect taxes + subsidies,
51) Under the recently re-launched Varishtha Pension Bima Yojana (VPBY) for senior citizens, the insured person can receive a monthly pension ranging from Rs. 500 to Rs. 5000,
52) It is a joint venture between Housing Development Finance Corporation (HDFC), one of India’s leading housing finance institution and Standard Life,
53) The currency of the Republic of Mauritius is – Mauritian Rupee,
54) Future Group is an Indian private conglomerate, which is known for having a significant prominence in Indian retail and fashion sector, with popular supermarket chain – Big Bazaar,
55) An insurance purchased by agricultural producers to protect themselves against either the loss of their crops due to natural disasters or loss of revenue due to declines in the prices of agricultural commodities, is known as – Crop Insurance,
56) CENVAT is associated with which rate? Rate of indirect tax,
57) What does National income ignore? Salary of employees,
58) How is Indian economy? Mixed economy,
59) Upon which development the Second Five Year Plan laid mote stress? Industrialisation,
60) What is the inflation experienced in the country at present? Cost-push inflation,
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Section

Question Answer
61) Stock Exchanges play a role in an economy how may itbe termed? Useful but need strict regulation,
62) What is temporary tax levied to obtain additional revenue? Surcharge,
63) From which sector is the largest contribution in India’s National Income? Tertiary sector,
64) Which is the biggest Public Sector undertaking in the country? Railways,
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65) Which committee was assigned to recommend reforms in the insurance sector?:- Malhotra Committee,
Question Answer
66) What is the main source of fund for the National Highway Authority of India? Cess,
67) Which body finalises the Five Year Plan proposals? National Development Council,
68) By whom was the first attempt to initiate economic planning in India made? By M. Visvesvaraya,
69) What is an essential attribute of inflation? Increase in prices,
70) Which bank prints currency notes of the denomination of Rs. 100? The Bank Note Press, Dewas,
71) Who are Debenture holders of a company? Its creditors,
72) Which organizations agency is involved in drafting the Union Budget of India? Administrative Ministries only,
73) Which agency has the power to declare any industrial unit as a potentially sick unit? BIFR,
74) What is the mean of Invisible Export? Export Services,
75) In India, in which sector was the co-operative movement initiated? Agricultural credit,
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Section

Question Answer
76) For internal financing of Five Year Plans, the government depends on which source? Taxation only,
77) Who was the author of the chapter on Objectives of Planned Development for the Third Five Year Plan? Morarji Desai,
78) Of the various ways of financing government’s investment expenditure, what is the least inflationary? taxation,
79) To prevent recurrence of scams in Indian Capital Market, To whom has the Government assigned regulatory powers? SEBI,
80) From which sector does the highest sector wise contribution to gross domestic saving comes? Household sector,
81) In the short run, a producer, how long continues his production? Fixed cost,
82) Which is the largest importer country of Indian textile? USA,
83) What does the Year of Great Divide refere? To rapid growth rate in population after 1921,
84) What was the decentralisation system recommended? Balwant Rai Mehta,
85) What is the principal source of revenue to the State Government in India? Sales Tax,
86) What does Inflation imply? Rise in general price index,
87) When was the decimal system of currency introduced in India? 1957,
88) What is the mean of Cheap Money?Low Rate of Interest,
89) From where does the National Stock Exchange functions? Mumbai,
90) Which is the oldest stock exchange of India? Bombay Stock Exchange,
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Section

Question Answer
91) By which bill does the government make arrangement for the collection of revenues for a year? Finance Bill,
92) If the price of an inferior good falls, what about its demand? Remains constant,
93) In which year was Railway Budget in India separated from general budget? 1924-25,
94) What is the investment in public works? Capital expenditure,
95) With which Economic growth is usually coupled? Inflation,
96) Which is the largest (in terms of turnover) Public Sector organisation in India? Indian Oil Corporation,
97) How is the difference between visible exports and visible imports defined? Balance of trade,
98) Who long do the World Bank and IMF give respectively? Long term and short term credits,
99) In which activity percentage share of cooperative sector is the highest? Sugar production,
100) Economic Planning is a subject of which list? Union List,
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