Economy Quiz/MCQs

In India, the term “Public Key Infrastructure” is used in the context of

If another global financial crisis happens in the near future, which of the following actions/policies are most likely to give some immunity to India?
1. Not depending on short – term foreign borrowings
2. Opening up to more foreign banks
3. Maintaining full capital account convertibility
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If you withdraw Rs. 1,00,000 in cash from your Demand Deposit Account at your bank, the immediate effect on aggregate money supply in the economy will be

“Golden Tranche” (Reserve Tranche) refers to

Along with the Budget, the Finance Minister also places other documents before the parliament which include ‘The Macro Economic Framework Statement‘. The aforesaid document is presented because this is mandated by

What is the importance of the term “Interest Coverage Ratio” of a firm in India?
1. It helps in understanding the firms that a bank is going to give loan to.
2. It helps in evaluation the emerging risk of a firm that a bank is going to give loan to.
3. The higher a borrowing Firm’s level of interest coverage ratio, the worse is its ability to service its dept.
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Consider the following statements
1. The weightage of food in consumer price Index (CPI) is higher than that in Wholesale Price Index (WPI)
2. The WPI does not capture changes in the prices of services, which CPI does
3. Reserve bank of India has now adopted WPI and its key measures of inflation and to decide on changing the key policy rate
Which of the statements given above is/are correct?

With reference to the Indian economy consider the following statements?
1. ‘Commercial paper’ is short term Unsecure promissory note
2. ‘Certificate of Deposit’ is a long-term instrument issued by the Reserve bank of India to a corporation
3. ‘Call Money’ is short-term finance used for interbank transaction.
4. “Zero coupons bonds are the interest-bearing short-term bonds issued by the Scheduled Commercial Bank to corporation.
Which of the statements given above is/are correct?

With reference to Foreign Direct Investment in India, which one of the following is considered its major characteristic?

With reference to the international trade of India at present, which of the following statement is/are correct?
1. India’s merchandise exports are less than its merchandise imports.
2. India’s imports of iron and steel chemicals, fertilisers and machinery have decreased in recent years.
3. India’s exports of services are more than its imports of services.
4. India suffers from an overall trade/current account deficit.
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In the context of Indian economy non-financial debt includes which of following?
1. Housing loans owed by households
2. Amount outstanding on credit cards
3. Treasury bills
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With reference to Trade-Related Investment Measures (TRIMS), which of the following statements is/are correct?
1. Quantitative restriction on imports by foreign investors are prohibited.
2. They apply to investment measures related to trade in both goods and services.
3. They are not concerned with the regulation of foreign investment.
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the RBI decides to adopt an expansionist monetary policy, which of the following would it not do?
1. Cut and optimize the Statutory Liquidity Ratio
2. Increase the Marginal Standing Facility Rate
3. Cut the Bank Rate and Repo Rate
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With reference to the Indian economy after the 1991 economy liberalization, consider the following statements:
1. Worker productivity (₹ per worker at 2004-05 price) increase in urban areas while it decreased in rural areas.
2. the percentage share of rural areas in workforce steadily increased.
3. In rural areas, the growth in non-farm economy increased.
4. The growth rate in rural employment decreased.
Which of the statement give above is/are correct?

Consider the following statements:
1. In terms of short-term credit delivery to the agriculture sector, District Central Cooperative Banks (DCCBs) deliver more credit in comparison to Scheduled Commercial Bank and Regional Rural Banks.
2. One of the most important functions of DCCBs id to provide funds to the Primary Agricultural Credit Societies.
Which of the statement give above is/are correct?

With reference to land reforms in independent India, which one of the following statements is correct?

In a given year in India, official poverty lines are higher in some States than in others because

Consider the following statements:
1. Coal sector was nationalized by the Government of India under Indira Gandhi.
2. Now, coal blocks are allocated on lottery basis.
3. Till recently, India imported coal to meet the shortages of domestic supply, but now India is self-sufficient in coal product.
Which of the statements given above is/are correct?

Among the following which one is the largest exporter of rice in the world in the last
five years?

With reference to Asian Infrastructure Investment Bank (AIIB), consider the following statements:
1. AIIB has more than 80 member nations.
2. India is the largest shareholder in AIIB.
3. AIIB does not have any members from outside Asia.
Which of the statements given above is/are correct?

What was the purpose of Inter-Creditor Agreement signed by Indian banks and
financial institutions recently?

The Chairman of public sector banks are selected by the

Which one of the following is not a sub-index of the World Bank’s ‘Ease of Doing Business Index’?

The economic cost of food grains to the Food Corporation of India is Minimum Support Price and bonus (if any) paid to the farmers plus

The Service Area Approach was implemented under the purview of

Consider the following statements:
1. Most of India’s external debt is owed by governmental entities.
2. All of India’s external debt is denominated in US dollars.
Which of the statements given above is/are correct?

Which of the following is not included in the assets of a commercial bank in India?

) In the context of India, which of the following factors is/are contributor/ contributors to reducing the risk of a currency crisis?
1. The foreign currency earnings of India’s IT sector
2. Increasing government expenditure
3. Remittances from Indians abroad
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Which of the following is issued by registered foreign portfolio investors to overseas investors who want to be part of Indian stock market without registering themselves directly?

With reference to India’s Five-Year Plans, which of the following statements is/are
correct?
1. From the Second Five-Year Plan, there was a determined thrust towards substitution of basic and capital good industries.
2. The Fourth Five-Year Plan adopted the objective of correcting the earlier trend of increased concentration of wealth and economic power.
3. In the Fifth Five-Year Plan, for the first time, the financial sector was included as an integral part of the Plan.
Select the correct answer using the code given below.

Consider the following statements:
1. Purchasing Power Parity (PPP) exchange rates are calculated by comparing the prices of the same basket of goods and services in different countries
2. In terms of PPP dollars, India is the sixth largest economy in the world.
Which of the statement given above is/are correct?

Among the agricultural commodities imported by India, which one of the following accounts for the highest imports in terms of value in the last five years?

Which one of the following is not the most likely measure the Government/ RBI takes
to stop the slide of Indian rupee?

Consider the following statements
The Reserve Bank of India’s recent directives relating to ‘Storage of Payment System Data’, popularly known as data diktat, command the payment system providers that
1. they shall ensure that entire data relating to payment systems operated by them are store in a system only in India.
2. they shall ensure that the systems are owned and operated by public sector enterprises.
3. they shall submit the consolidated system audit report to the Comptroller and Auditor General of India by the end of the calendar year
Which of the statements given above is/are correct?

Consider the following statements:(Current Affairs)
As per the Industrial Employment (Standing Orders) Central (Amendment) Rules, 2018
1. if rules for fixed-term employment are implemented, it becomes easier for the firms/companies to lay off workers
2. no notice of termination of employment shall be necessary in the case of temporary workman
Which of the statements given above is/are correct?

) The money multiplier in an economy increases with which one of the following?

The Global Competitiveness Report is published by the

As per the NSSO 70th Round “Situation Assessment Survey of Agriculture Households”, consider the following statements:
1.Rajasthan has the highest percentage share of agriculture households among its rural households.
2.Out of the total households in the country, a little over 60 percent being to OBCs.
3.In Kerala, a little over 60 percent of agriculture households reported to have received maximum income from sources other than agriculture activities.
Which of the statements given above is/are correct?

With reference to India’s decision to levy an equalization tax of 6% on online advertisement services offered by non-resident entities, which of the following statements is/are correct?
1.It is introduced as a part of the Income Tax Act that offers advertisement services in India.
2.Non-resident entities that offer advertisement services in Indian can claim a tax credit in their home country under the “Double Taxation Avoidance Agreements”.
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Which one of the following best describes the term “Merchant Discount Rate” sometimes seen in news?

Consider the following statements:
1.The Fiscal Responsibility and Budget Management (FRBM) Review Committee Report has recommended a debt to GDP ratio of 60% for the general (combined) government by 2023, comprising 40% for the Central Government and 20% for the State Governments.
2.The Central Government has domestic liabilities of 21% of GDP as compared to that of 49% of GDP of the State Governments.
3.As per the Constitution of India, it is mandatory for a State to take the Central Government’s consent for raising any loan if the former owes any outstanding liabilities to the latter.
Which of the statements given above is/are correct?

Consider the following statements:
1.The quantity of imported edible oils is more than the domestic production of edible oils in the last five years.
2.The Government does not impose any customs duty on all the imported edible oils as a special case.
Which of the statements given above is/are correct?

Which one of the following links all the ATMs in India ?

Consider the following statements:
1.Capital Adequacy Ratio (CAR) is the amount that banks have to maintain in the form of their own funds to offset any loss that banks incur if any account-holders fail to repay dues.
2.CAR is decided by each individual bank.
Which of the statements given above is/are correct?

India enacted The Geographical Indications of Goods (Registration and Protection) Act, 1999 in order to comply with the obligations to

Consider the following statements:
1.In India, State Governments do not have the power to auction non-coal mines.
2.Andhra Pradesh and Jharkhand do not have gold mines.
3.Rajasthan has iron ore mines.
Which of the statements given above is/are correct?

Which one of the following statements correctly describes the meaning of legal tender money ?

If a commodity is provided free to the public, by the Government, then

Increase in absolute and per capita real GNP do not connote a higher level of economic development, if

Consider the following statements :
Human capital formation as a concept is better explained in terms of a process which enables
1. individuals of a country to accumulate more capital.
2. increasing the knowledge, skill levels and capacities of the people of the country.
3. accumulation of tangible wealth.
4. accumulation of intangible wealth.
Which of the statements given above is/are correct?

Despite being a high saving economy, capital formation may not result in significant increase in output due to

Consider the following statements:
1.The Reserve Bank of India manages and services Government of India Securities but not any State Government Securities.
2.Treasury bills are issued by the Government of India and there are no treasury bills issued by the State Governments.
3.Treasury bills offer are issued at a discount from the par value.
Which of the statements given above is/are correct?

With reference to solar power production in India, consider the following statements :
1. India is the third largest in the world in the manufacture of silicon wafers used in photovoltaic units.
2. The solar power tariffs are determined by the Solar Energy Corporation of India.
Which of the statements given above is/are correct ?

Consider the following :
1.Areca nut
2.Barley
3.Coffee
4.Finger millet
5.Groundnut
6.Sesamum
7.Turmeric
The Cabinet Committee on Economic Affairs has announced the Minimum Support Price for which of the above?

With reference to the governance of public sector banking in India, consider the following statements:
1.Capital infusion into public sector banks by the Government of India has steadily increased in the last decade.
2.To put the public sector banks order, the merger of associate banks with the parent State Bank of India has been affected
Which of the statements given above is/are correct?

Consider the following items:
1.Cereal grains hulled
2.Chicken eggs cooked
3.Fish processed and canned
4.Newspapers containing advertising material
Which of the above items is/are exempted under GST (Goods and Services Tax) ?

Which of the following statements best describes the term ‘Scheme for Sustainable Structuring of Stressed Assets (S4A)’, recently seen in the news?

Which of the following has/have occurred in India after its liberalization of economic policies in 1991?
1. Share of agriculture in GDP increased enormously.
2. Share of India’s exports in world trade increased.
3. FDI inflows increased. 4. India’s foreign exchange reserves increased enormously.
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Consider the following statements:
1. National Payment Corporation of India (NPCI) helps in promoting the financial inclusion in the country.
2. NPCI has launched RuPay, a card payment scheme.
Which of the statements given above is/are correct?

What is/are the most likely advantages of implementing ‘Goods and Services Tax (GST)’?
1. It will replace multiple taxes collected by multiple authorities and will thus create a single market in India.
2. It will drastically reduce the ‘Current Account Deficit’ of India and will enable it to increase its foreign exchange reserves.
3. It will enormously increase the growth and size of economy of India and will enable it to overtake China in the near future.
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Consider the following statements:
1. Tax revenue as a percent of GDP of India has steadily increased in the last decade.
2. Fiscal deficit as a percent of GDP of India has steadily increased in the last decade.
Which of the statements given above is/are correct?

What is/are the advantage/advantages of implementing the ‘National Agriculture Market’ scheme?
1. It is a pan-India electronic trading portal for agricultural commodities.
2. It provides the farmers access to nationwide market, with prices commensurate with the quality of their produce.
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With reference to the ‘National Intellectual Property Rights Policy’, consider the following statements:
1. It reiterates India’s commitment to the Doha Development Agenda and the TRIPS Agreement.
2. Department of Industrial Policy and Promotion is the nodal agency for regulating intellectual property rights in India.
Which of the above statements is/are correct?

What is the purpose of setting up of Small Finance Banks (SFBs) in India?
1. To supply credit to small business units
2. To supply credit to small and marginal farmers
3. To encourage young entrepreneurs to set up business particularly in rural areas.
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Which of the following is a most likely consequence of implementing the ‘Unified Payments Interface (UPI)?

Which of the following statements is/are correct regarding the ‘Monetary Policy Committee (MPC)?
1. It decides the RBI’s benchmark interest rates.
2. It is a 12-member body including the Governor of RBI and is reconstituted every year.
3. It functions under the chairmanship of the Union Finance Minister.
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The term ‘Base Erosion and Profit Shifting’ is sometimes seen in the news in the context of

With reference to ‘Bitcoins’, sometimes seen in the news, which of the following statements is/are correct?
1. Bitcoins are tracked by the Central Banks of the countries.
2. Anyone with a Bitcoin address can send and receive Bitcoins from anyone else with a Bitcoin address.
3. Online payments can be sent without either side knowing the identity of the other.
Select the correct answer using the code given below.

What is/are the purpose/purposes of Government’s ‘Sovereign Gold Bond Scheme’ and ‘Gold Monetization Scheme’?
1. To bring the idle gold lying with Indian households into the economy
2. To promote FDI in the gold and jewellery sector
3. To reduce India’s dependence on gold imports
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With reference to `IFC Masala Bonds’, sometimes seen in the news, which of the statements given below is/are correct?
1. The International Finance Corporation, which offers these bonds, is an arm of the World Bank.
2. They are the rupee-denominated bonds and are a source of debt financing for the public and private sector.
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There has been a persistent deficit budget year after year. Which action/actions of the following can be taken by the Government to reduce the deficit?
1. Reducing revenue expenditure
2. Introducing new welfare schemes
3. Rationalizing subsidies
4. Reducing import duty
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The establishment of ‘Payment Banks’ is being allowed in India to promote financial inclusion. Which of the following statements is/are correct in this context?
1. Mobile telephone companies and supermarket chains that are owned and controlled by residents are eligible to be promoters of Payment Banks.
2. Payment Banks can issue both credit cards and debit cards.
3. Payment Banks cannot undertake lending activities.
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With reference to ‘Financial Stability and Development Council’, consider the following statements :
1. It is an organ of NITI Aayog.
2. It is headed by the Union Finance Minister.
3. It monitors macroprudential supervision of the economy.
Which of the statements given above is/are correct?

Recently, which one of the following currencies has been proposed to be added to the basket of IMF’s SDR?

Which of the following is/are included in the capital budget of the Government of India?
1. Expenditure on acquisition of assets like roads, buildings, machinery, etc.
2. Loans received from foreign governments
3. Loans and advances granted to the States and Union Territories
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The term ‘Core Banking Solutions’ is sometimes seen in the news. Which of the following statements best describes/describe this term?
1. It is a networking of a bank’s branches which enables customers to operate their accounts from any branch of the bank on its network regardless of where they open their accounts.
2. It is an effort to increase RBI’s control over commercial banks through computerization.
3. It is a detailed procedure by which a bank with huge non-performing assets is taken over by another bank.
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Which of the following best describes the term ‘import cover’, sometimes seen in the news?

What is/are the purpose/purposes of the `Marginal Cost of Funds based Lending Rate (MCLR)’ announced by RBI?
1. These guidelines help improve the transparency in the methodology followed by banks for determining the interest rates on advances.
2. These guidelines help ensure availability of bank credit at interest rates which are fair to the borrowers as well as the banks.
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India’s ranking in the ‘Ease of Doing Business Index’ is sometimes seen in the news. Which of the following has declared that ranking?

With reference to ‘Pradhan Mantri Fasal Bima Yojana’, consider the following statements:
1. Under this scheme, farmers will have to pay a uniform premium of two percent for any crop they cultivate in any season of the year.
2. This scheme covers post-harvest losses arising out of cyclones and unseasonal rains.
Which of the statements given above is/are correct?

A decrease in tax to GDP ratio of a country indicates which of the following?
1. Slowing economic growth rates
2. Less equitable distribution of national income

In the Index of Eight Core Industries, which one of the following is given the highest weight?

The Fair and Remunerative Price of Sugar-cane is approved by the

Which one of the following issues the “Global Economic Prospects” report periodically?

When the Reserve Bank of India reduces the Statutory Liquidity by 50 basis points, which of the following is likely to happen?

Which of the following brings out the ‘Consumer Price Index Number for the Industrial Workers’?

Convertibility of rupee implies:

Basel III Accord’ or simply ‘Basel III’, often seen in the news, seeks to

With reference to India economy, consider the following statements:
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 statement given above is/are correct?

With reference to India economy, consider the following :
1.Bank rate
2.Open market operations
3.Public debt
4.Public revenue
Which of the above is/are component/components of Monetary Policy?

Which reference to inflation in India, which of the following statements is correct?

The problem of international liquidity is related to the non-availability of

There has been a persistent deficit budget year after year. Which of the following actions can be taken by the government to reduce the deficit?
1. Reducing revenue expenditure
2. Introducing new welfare schemes
3. Rationalizing subsidies
4. Expanding industries
Select the correct answer using the code given below.

With reference to the Indian Renewable Energy Development Agency Limited (IREDA), which of the following statements is/are correct?
1. It is a Public Limited Government Company.
2. It is a Non – Banking Financial Company.
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In India, markets in agricultural products are regulated under the

The terms ‘Agreement on Agriculture’, ‘Agreement on the Application of Sanitary and Phytosanitary Measures’ and Peace Clause’ appear in the news frequently in the context of the affairs of the:

Which of the following statements is/are correct regarding National Innovation Foundation-India (NIF)?
1.NIF is an autonomous body of the Department of Science and Technology under the Central Government
2.NIF is an initiative to strengthen the highly advanced scientific research in India’s premier scientific institutions in collaboration with highly advanced foreign scientific institutions.
Select the correct answer using the code given below.

In India the steel production industry requires the import of

What are the significances of a practical approach to sugarcane production known as ‘Sustainable Sugarcane Initiative’? —————————– Current Affairs
1. Seed cost is very low in this compared to the conventional method of cultivation.
2. Drip irrigation can be practiced very effectively in this.
3. There is no application of chemical/ inorganic fertilizers at all in this.
4. The scope for intercropping is more in this compared to the conventional method of cultivation.
Select the correct answer using the code given below.

The sales tax you pay while purchasing a toothpaste is a

What does venture capital mean?

The main objective of the 12th Five-Year Plan is

With reference to Balance of Payments, which of the following constitutes/constitute the Current Account?
1. Balance of trade
2. Foreign assets
3. Balance of invisibles
4. Special Drawing Right
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The terms ‘Marginal Standing Facility Rate’ and ‘Net Demand and Time Liabilities’, sometimes appearing in news, are used in relation to

What is/are the facility/facilities the beneficiaries can get from the services of Business Correspondent (Bank Saathi) in branchless areas?
1. It enables the beneficiaries to draw their subsidies and social security benefits in their villages.
2. It enables the beneficiaries in the rural areas to make deposits and withdrawals.
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In the context of Indian economy; which of the following is/are the purpose/purposes of ‘Statutory Reserve Requirements’?
1. To enable the Central Bank to control the amount of advances the banks can create
2. To make the people’s deposits with banks safe and liquid
3. To prevent the commercial banks from making excessive profits
4. To force the banks to have sufficient vault cash to meet their day-to-day requirements
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Which of the following are associated with ‘Planning’ in India?
1. The Finance Commission
2. The National Development Council
3. The Union Ministry of Rural Development
4. The Union Ministry of Urban Development
5. The Parliament
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If the interest rate is decreased in an economy, it will

In the context of food and nutritional security of India, enhancing the ‘Seed Replacement Rates’ of various crops helps in achieving the food production targets of the future. But what is/are the constraint/ constraints in its wider / greater implementation?
1. There is no National Seeds Policy in place.
2. There is no participation of private sector seed companies in the supply of quality seeds of vegetables and planting materials of horticultural crops.
3. There is a demand-supply gap regarding quality seeds in case of low value and high-volume crops.
Select the correct answer using the code given below.

Which of the following organizations brings out the publication known as ‘World Economic Outlook’?

With reference to Union Budget, which of the following is/are covered under Non-Plan Expenditure?
1. Defence -expenditure
2. Interest payments
3. Salaries and pensions
4. Subsidies
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Basel III Accord’ or simply ‘Basel III’, often seen in the news, seeks to

The balance of payments of a country is a systematic record of

The Reserve Bank of India regulates the commercial banks in matters of

1. liquidity of assets
2. branch expansion
3. merger of banks
4. winding-up of banks

Select the correct answer using the codes given below.

An increase in the Bank Rate generally indicates that the

In India, deficit financing is used for raising resources for

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.

Consider the following statements :

1. Inflation benefits the debtors.
2. Inflation benefits the bond-holders.

Which of the statements given above is/are correct?

Disguised unemployment generally means

Consider the following liquid assets:

1.Demand deposits with the banks

2.Time deposits with the banks

3.Savings deposits with the banks

4.Currency

The correct sequence of these decreasing order of Liquidity is

In the context of Indian economy,Open Market Operations’ refers to

Priority Sector Lending by banks in India constitutes the lending to

To obtain full benefits of demographic dividend, what should India do?

A rise in general level of prices may be caused by

1. an increase in the money supply
2. a decrease in the aggregate level of output
3. an increase in the effective demand

Select the correct answer using the codes given below.

Which one of the following groups of items is included in India’s foreign-exchange reserves?

Which one of the following is likely to be the most inflationary in its effect?

Supply of money remaining the same when there is an increase in demand for money, there will be

Economic growth in country X will necessarily have to occur if

The national income of a country for a given period is equal to the

Which of the following grants/ grant direct credit assistance to rural households?
1. Regional Rural Banks
2. National Bank for Agriculture and Rural Development
3. Land Development Banks
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In India the overall Index of Industrial Production, the Indices of Eighth Core Industries have combined weight of 37.90%. Which of the following are among those Eight Core Industries?

1. Cement
2. Fertilizers
3. Natural Gas
4. Refinery products
5. Textiles

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What is/ are the recent policy initiative(s) of Government of India to promote the growth of manufacturing sector?
1. Setting up of National Investment and Manufacturing Zones
2. Providing the benefit of ‘single window clearance’
3. Establishing the Technology Acquisition and Development Fund.
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The Multi-Dimensional Poverty Index developed by Oxford Poverty and Human Development Initiative with UNDP support covers which of the following?
1. Deprivation of education, health, assets and services at household level
2. Purchasing power parity at national level
3. Extent of budget deficit and GDP growth rate at national level
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Which of the following can be said to be essentially the parts of ‘Inclusive Governance’?
1. Permitting the Non-Banking Financial Companies to do banking
2. Establishing effective District Planning Committees in all the districts
3. Increasing the government spending on public health
4. Strengthening the Mid-day Meal Scheme
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) Which of the following is/are among the noticeable features of the recommendations of the Thirteenth Finance Commission?
1. A design for the Goods and Services package linked to adherence to the proposed design.
2. A design for the creation of lakhs of jobs in the next ten years in consonance with India’s demographic dividend
3. Devolution of a specific share of central taxes to local bodies as grants
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The Reserve Bank of India (RBI) acts as a bankers’ bank. This would imply which of the following?
1. Other bank retains 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.
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Under which of the following circumstances may ‘capital gains ‘arise?
1. when there is an increase in the sales of a product
2. when there is a natural increase in the value of the property owned.
3. when you purchase a painting and there is a growth in its value due to increase in its popularity.
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Which of the following measures would result in an increase in the money supply in the economy?
1. Purchase of govt securities from the public by the central bank
2. Deposit of currency in commercial banks by the public
3. borrowing by the govt. from the central bank
4. Sale of govt. secs. To the public by the central bank
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Which of the following would include Foreign Direct Investment on India?
1. Subsidiaries of foreign companies in India
2. Majority foreign equity holding in Indian companies
3. Companies exclusively financed by foreign companies
4. Portfolio investment
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Consider the following statement:
The price of any currency in international market is decided by the
1. World Bank
2. Demand for goods/services provided by the country concerned
3. Stability of the government of the concerned country
4. Economic potential of the country in question.
Select the correct answer using the codes given below:

The basic aim of Lead Bank Scheme is that