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Daily Quiz: May 8, 2018
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- Question 1 of 7
1. Question
1 pointsCategory: EconomyWhich one of the following five year plans recognized human development as the core of all developmental efforts ?
Correct
Explanation : The Eighth Five year Plan (1992- 97 was based on john W. Millar model. It recognized human resource development as the core of all developmental initiatives. The theme of this plan was plan with a human face.
Incorrect
Explanation : The Eighth Five year Plan (1992- 97 was based on john W. Millar model. It recognized human resource development as the core of all developmental initiatives. The theme of this plan was plan with a human face.
- Question 2 of 7
2. Question
1 pointsCategory: EconomyWhich of the following are among the non-plan expenditures of the Government of India ?
- Defence expenditure
- Subsidies
- All expenditures linked with the previous plan periods
- Interest payment
Correct
Explanation : Expenditure by the Government on non-development issues and is not listed in the Five Year Plan is called non-plan expenditure. Non-plan revenue expenditure is accounted for by interest payments, subsidies (mainly on food and fertilisers), Defence expenditures, wage and salary payments to government employees, Maintenance expenditure, grants to states and Union Territories governments, pensions, police etc.
In other words, non-plan expenditure include :
- a) non-developmental expenditure (such as interest payment, subsidies, defence expenditure, civil administration)
- b) Development expenditure and expenditure incurred on projects which remained unfinished in earlier plan.
Incorrect
Explanation : Expenditure by the Government on non-development issues and is not listed in the Five Year Plan is called non-plan expenditure. Non-plan revenue expenditure is accounted for by interest payments, subsidies (mainly on food and fertilisers), Defence expenditures, wage and salary payments to government employees, Maintenance expenditure, grants to states and Union Territories governments, pensions, police etc.
In other words, non-plan expenditure include :
- a) non-developmental expenditure (such as interest payment, subsidies, defence expenditure, civil administration)
- b) Development expenditure and expenditure incurred on projects which remained unfinished in earlier plan.
- Question 3 of 7
3. Question
1 pointsCategory: EconomyCorporation Tax
Correct
Corporation tax is a direct tax levied on the profits of companies. It is levied, collected and appropriated by the Union or the central government.
Incorrect
Corporation tax is a direct tax levied on the profits of companies. It is levied, collected and appropriated by the Union or the central government.
- Question 4 of 7
4. Question
1 pointsCategory: EconomyWhich of the following constitute the World Bank?
- International Bank for Reconstruction and development
- International finance Corporation
- International Development Association
- International monetary fund
Correct
world Bank and Monetary Fund (IMF) are the outcome of Bretton Wood Conference. World Bank established in 1944 a vital source of financial and technical assistance to developing countries.
World Bank group comprises :
- IBRD – International Bank for Reconstruction and Development.
- IFC – International Finance Corporation.
- IDA – International Development Association.
- MIGA – Multilateral Investment Guarantee Agency.
5.ICSID – International Centre for the Settlement of Investment Disputes
India is a member IBRD, IFC, IDA and MIGA.
Incorrect
world Bank and Monetary Fund (IMF) are the outcome of Bretton Wood Conference. World Bank established in 1944 a vital source of financial and technical assistance to developing countries.
World Bank group comprises :
- IBRD – International Bank for Reconstruction and Development.
- IFC – International Finance Corporation.
- IDA – International Development Association.
- MIGA – Multilateral Investment Guarantee Agency.
5.ICSID – International Centre for the Settlement of Investment Disputes
India is a member IBRD, IFC, IDA and MIGA.
- Question 5 of 7
5. Question
1 pointsCategory: EconomyAgricultural income tax is assigned to the State government by
Correct
Agriculture is a State subject, It is mentioned in entry 46 in the State list of Seventh Schedule of the constitution. Agriculture Income Tax is assigned to the State governments by the Constitution of India.
Incorrect
Agriculture is a State subject, It is mentioned in entry 46 in the State list of Seventh Schedule of the constitution. Agriculture Income Tax is assigned to the State governments by the Constitution of India.
- Question 6 of 7
6. Question
1 pointsCategory: EconomyBank Rate implies the rate of banks
Correct
Explanation : Bank rate is that rate of interest at which central bank of a country provides refinancing facilities to commercial banks. This rate at present is 9%. Every bank needs refinancing as it is very difficult to match borrowings and flow of deposits.
Incorrect
Explanation : Bank rate is that rate of interest at which central bank of a country provides refinancing facilities to commercial banks. This rate at present is 9%. Every bank needs refinancing as it is very difficult to match borrowings and flow of deposits.
- Question 7 of 7
7. Question
1 pointsCategory: EconomyWhich one of the following sets of commodities are exported to India by arid and semi-arid countries in the Middle East ?
Correct
Fruits and palm oil are exported to India by arid and semiarid countries in the Middle East.
Incorrect
Fruits and palm oil are exported to India by arid and semiarid countries in the Middle East.
