IAS Prelim : Economy(05)
GS Economy
1. Consider the following statements:
(i) The RIRI as mentioned in economy survey stands for “Rational
Investor Ratings Index (RIRI).”
(ii) The RIRI is computed by averaging a country’s GDP growth rate and its macro-economic indicators
(iii) The macro-economic indicators in RIRI is measured as the
average of the fiscal deficit, current account deficit, and inflation (all with negative signs)
(iv) India scores above all the BRICS nation in RIRI
Which of the statements given above is/are correct?
(a) (i),(ii) and (iv) only
(b) (i),(ii),(iii) and (iv)
(c) (iii) and (iv) only
(d) (i), (ii) and (iii) only
Answer.d
2. In January 2015, the central statistics office released a new
GDP series that shifted the base year from 2004-05 to?
(i) 2009-10
(ii) 2010-11
(iii) 2011-12
(iv) 2012-13
Answer.c
3. Since the end of June 2014 the international crude oil price
declined by about 50%.Of this, about 17% (representing about 34% of the overall decline) was passed on to consumers while the
government retained the rest.
Which of the above statement justifies the Government actions?
(a) Government doesn’t want to share the margin with the people.
(b) Accounting for uncertainty about the future movement of
prices, it wants to provide a necessary cushion to absorb the
effect of higher oil prices in the future .
(c) Government of India had fixed the prices of its crude import
by the past MOU with importing nation.
(d) The cost of refining has gone up significantly in the last few
months.
Answer.b
4. India’s overall revenue-to-GDP ratio (for the general Government) for 2014 is estimated at________ percent by the IMF.
(a) 19.5
(b) 25
(c) 29
(d) 33
Answer.a
5 The new scheme “Pahal” by the Government of India is related to?
(a)Nutritional support to the secondary school children.
(b) Direct Benefits Transfer under Right to food act.
(c)Cash transfer to the farmers due to inclement weather and crop
lost.
(d) Direct Benefits Transfer for LPG (DBTL).
Answer.d
6. Consider the following statements:
(i) Government has raised gas prices from US$ 4.2 per million
British thermal unit to US$ 5.6 and linking pricing, transparently
and automatically, to international prices.
(ii)Government has recently disinvested 5 percent stake in Coal
India Ltd. and yielded Rs 22,500 crore,of which 5,800 crore
was from foreign investors.
(iii) Government has Instituted a major financial inclusion—the
Pradhan Mantri Jan Dhan Yojana under which over 12.5 crore new
accounts have been opened till mid-February 2014.
Which of the statements given above is/are correct?
(a) (i) and (iii) only
(b) (i) and (ii) only
(c) (ii) and (iii) only
(d) (i),(ii) and (iii)
Answer.a
7. Consider the following statements:
(i) Government has increased the FDI in Insurance sector from 24
percent to 49 percent.
(ii) As per the guidelines, FDI of up to 26 per cent come under
automatic route and beyond 26 per cent and up to 49 per cent
government approval is needed.
Based on the above statements chose the correct option?
(a) Statement I is only correct.
(b) Statement II is only correct.
(c) Both statements I and II correct.
(d) None of these.
Answer.b
8. With reference to the Expenditure Management Commission (EMC) under the chairmanship of Dr. Bimal Jalan, consider the following statements:
(i) The Commission will submit its interim report before the
Budget of 2015-16 and its final report before the Budget of 2016-17.
(ii) Review the major areas of Central government expenditure, and to suggest ways of creating fiscal space required to meet developmental expenditure needs, without compromising commitment to fiscal discipline.
(iii) Suggest measures to improve allocative efficiencies in the
existing expenditure classification system, including focus on
capital expenditure.
Which of the statements given above is/are correct?
(a) (i) only
(b) (ii) only
(c)(i),(ii) and (iii)
(d) (ii) and (iii) only
Answer.c
9. With reference to the estimates on employment growth in India
and its survey, consider the following statements:
(i) Labour Bureau does annual survey
(ii) National Sample Survey (NSS) does Quinquennial survey
(ii) Census does a decadal survey
(iv) Economic Census (EC) doesn’t have a fixed periodicity
Which of the statements given above is/are correct?
(a) (i) and (ii) only
(b) (i),(ii),(iii) and (iv)
(c) (i),(ii) and (iii) only
(d) (ii) and (iii) only
Answer.b
10. What does JAM Number Trinity solution means as per the
Economic Survey 2014-15?
(a)Jan Dhan-Aadhaar-Mobile
(b)Jan Dhan-Awash-Mobile
(c)Jan Dhan-Account-Money
(d)Jan Dhan-Aadhaar-Market
Answer.a