Economy & social development: practice set 2

Which one of the following pairs of semiconductor plants in India and their locations is not correctly matched?

Which of the following statements about Crowdfunding is/are correct?

1. 1.Crowdfunding is solicitation of funds (small amount) from multiple investors through a web-based platform or social networking site for a specific project.
2. 2.Small and Medium Enterprises (SMEs) are able to raise funds at lower cost of capital without undergoing rigorous procedures.

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Consider the following statements:

1. Statement-I: In India, income from allied agricultural activities like poultry farming and wool rearing in rural areas is exempted from any tax.
2. Statement-II: In India, rural agricultural land is not considered a capital asset under the provisions of the Income-tax Act, 1961.

Which one of the following is correct in respect of the above statements?

Consider the following countries:

1. I.United Arab Emirates
2. II.France
3. III.Germany
4. IV.Singapore
5. V.Bangladesh

How many countries amongst the above are there other than India where international merchant payments are accepted under UPI?

In India, which of the following can trade in Corporate Bonds and Government Securities?

1. 1.Insurance Companies
2. 2.Pension Funds
3. 3.Retail Investors

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Which one of the following best describes the concept of ‘Small Farmer Large Field’?

Consider the following statements with reference to India:

1. 1.According to the 'Micro, Small and Medium Enterprises Development (MSMED) Act, 2006', the 'medium enterprises' are those with investments in plant and machinery between ₹15 crore and ₹25 crore.
2. 2.All bank loans to the Micro, Small and Medium Enterprises qualify under the priority sector.

Which of the statements given above is/are correct?

Consider the following statements:

1. Statement-I: Switzerland is one of the leading exporters of gold in terms of value.
2. Statement-II: Switzerland has the second largest gold reserves in the world.

Which one of the following is correct in respect of the above statements?

Which one of the following situations best reflects "Indirect Transfers" often talked about in media recently with reference to India?

Consider the following statements:

1. 1.In India, credit rating agencies are regulated by Reserve Bank of India.
2. 2.The rating agency popularly known as ICRA is a public limited company.
3. 3.Brickwork Ratings is an Indian credit rating agency.

Which of the statements given above are correct?

In India, which one of the following is responsible for maintaining price stability by controlling inflation?

With reference to casual workers employed in India, consider the following statements:

1. 1.All casual workers are entitled for Employees Provident Fund coverage.
2. 2.All casual workers are entitled for regular working hours and overtime payment.
3. 3.The government can by a notification specify that an establishment or industry shall pay wages only through its bank account.

Which of the above statements are correct?

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. 1.Not depending on short-term foreign borrowings
2. 2.Opening up to more foreign banks
3. 3.Maintaining full capital account convertibility

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If the RBI decides to adopt an expansionist monetary policy, which of the following would it not do?

1. 1.Cut and optimize the Statutory Liquidity Ratio
2. 2.Increase the Marginal Standing Facility Rate
3. 3.Cut the Bank Rate and Repo Rate

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Consider the following statements:

1. 1.The weightage of food in Consumer Price Index (CPI) is higher than that in Wholesale Price Index (WPI).
2. 2.The WPI does not capture changes in the prices of services, which CPI does.
3. 3.Reserve Bank of India has now adopted WPI as its key measure of inflation and to decide on changing the key policy rates.

Which of the statements given above is/are correct?

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

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. 1.they shall ensure that entire data relating to payment systems operated by them are stored in a system only in India
2. 2.they shall ensure that the systems are owned and operated by public sector enterprises
3. 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?

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. 1.It is introduced as a part of the Income Tax Act.
2. 2.Non-resident entities that offer advertisement services in India can claim a tax credit in their home country under the "Double Taxation Avoidance Agreements".

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

Consider the following statements:

Human capital formation as a concept is better explained in terms of a process which enables

1. 1.individuals of a country to accumulate more capital.
2. 2.increasing the knowledge, skill levels and capacities of the people of the country.
3. 3.accumulation of tangible wealth.
4. 4.accumulation of intangible wealth.

Which of the statements given above is/are correct?

Consider the following statements:

1. 1.The Reserve Bank of India manages and services Government of India Securities but not any State Government Securities.
2. 2.Treasury bills are issued by the Government of India and there are no treasury bills issued by the State Governments.
3. 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 organic farming in India, consider the following statements:

1. 1.‘The National Programme for Organic Production’ (NPOP) is operated under the guidelines and directions of the Union Ministry of Rural Development.
2. 2.‘The Agricultural and Processed Food Products Export Development Authority’ (APEDA) functions as the Secretariat for the implementation of NPOP.
3. 3.Sikkim has become India’s first fully organic State.

Which of the statements given above is/are correct?

Which of the following statements is/are correct regarding the Monetary Policy Committee (MPC)?

1. 1.It decides the RBI's benchmark interest rates.
2. 2.It is a 12-member body including the Governor of RBI and is reconstituted every year.
3. 3.It functions under the chairmanship of the Union Finance Minister.

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With reference to ‘Quality Council of India (QCI)’, consider the following statements:

1. 1.QCI was set up jointly by the Government of India and the Indian Industry.
2. 2.Chairman of QCI is appointed by the Prime Minister on the recommendations of the industry to the Government.

Which of the above statements is/are correct?

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. 1.Reducing revenue expenditure
2. 2.Introducing new welfare schemes
3. 3.Rationalizing subsidies
4. 4.Reducing import duty

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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. 1.These guidelines help improve the transparency in the methodology followed by banks for determining the interest rates on advances.
2. 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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