ECONOMICS MCQs General Studies Ncert Subjectwise

Economic and Social Development 417
6
Economic and
Social Development
1. Economics : An Introduction
1. Who is called father of Modern 7. Which one of the following is 12. Which among the following is a
Economics? [MPPCS (Mains) 2010] the major feature of the Indian characteristic of underdevelop-
(A) Adam Smith (B) Marshal Economy? [UPSC (Pre) 2015] ment? [HCS (Pre) 2014]
(C) Keynes (D) Robins (A) A capitalist economy (A) Vicious circle of poverty
2. Paul Krugaman is a/an (B) A socialist economy (B) Raising mass consumption
[MPPCS (Mains) 2009] (C) A mixed economy (C) Growth of industries
(A) Scientist (D) None of the above (D) High rate of urbanisation
(B) Sportsman 8. The Indian Economy is a 13. Economically, one of the results of
(C) Banker [UPPCS (Mains) 2017] the British rule in India in the 19th
(A) Liberal economy century was the [UPSC (Pre) 2018]
(D) Economist
(B) Socialist economy (A) increase in the export of Indian
3. For the existence of a market which
(C) Mixed economy handicrafts
is indispensable? [MPPCS (Pre) 1997]
(D) None of the above (B) growth in the number of Indian
(A) Banks owned factories
(B) Economic laws 9. Mixed economy in India means
[UPPCS (Mains) 2007, 2014] (C) commercialisation of Indian
(C) Prices agriculture
(A) Co-existence of large and small
(D) Trade unions scale industries (D) rapid increase in the urban
4. Indian Economy is characterised as (B) Foreign collaboration in population
[UPPCS (Pre) 1995] economic development 14. Assertion (A): The emergence of
(A) backward economy (C) Co-existence of public and economic globalism does not imply
(B) developed economy private sector the decline of socialist ideology.
(C) developing economy (D) None of the above Reason (R): The ideology of
(D) underdeveloped economy 10. The credit of developing the socialism believes in universalism
5. The Gandhian economy is based on concept of modern economic and globalism. [Goa PSC (Pre) 1997]
the principle of [UPPCS (Pre) 2013] growth goes to [HCS (Pre) 2011] In the context of the given two
(A) Competition (A) Arthur Lewis statements, which of the following
(B) Michael P. Todaro is correct?
(B) Trusteeship
(C) Gunnar Myrdal Code
(C) State control
(D) Simon Kuznet (A) Both (A) and (R) are true and
(D) None of the above
11. ‘Underdeveloped countries are (R) is the correct explanation of
6. Who among the following had (A)
propounded the concept of the slums of world economy’ the
statement is given by (B) Both (A) and (R) are true,
‘Trusteeship’? [UPPCS (Mains) 2012] but (R) is not the correct
[Andhra Pradesh PSC (Pre) 2014]
(A) M.N. Roy explanation of (A)
(B) Aurobindo Ghosh (A) Ragnar Nurkse
(C) (A) is true, but (R) is false
(B) A.N. Cairncross
(C) Mahatma Gandhi (D) (A) is false, but (R) is true
(C) Colin Clark
(D) G.K. Gokhale
(D) Jagdish Bhagwati
Answer Sheet
1. (A) 2. (D) 3. (C) 4. (C) 5. (B) 6. (C) 7. (C) 8. (C) 9. (C) 10. (D)
11. (B) 12. (A) 13. (C) 14. (A)
418 Objective General Studies
2. National Income
1. In India, National Income is estimating the GDP from the first time by [UPSC (Pre) 2000]
computed by which of the [HPPSC (Mains) 2014] (A) M.G. Ranade
following? [UPPCS (Pre) 1995, 2006] (A) 2001-02 to 2010-11 (B) Sir W. Hunter
(A) Planning Commission (B) 2004-05 to 2013-14 (C) R.C. Dutta
(B) Ministry of Finance (C) 2004-05 to 2011-12 (D) Dadabhai Naoroji
(C) Central Statistical Organisation (D) 2001-02 to 2011-12 14. Which of the following statements
(D) Reserve Bank of India 8. Which of the following is a sign of is not true of the Indian Economy?
2. Who among the following was the economic growth? [RAS (Pre) 2013] [UPPCS (Pre) 2010, 2012]
Chairman of National Committee (A) An increase in national income (A) Its share of world population is
appointed by Government of India at constant prices during a year only 16%, but its share of world
in 1949? [UPPCS (Mains) 2015] (B) A sustained increase in real per GDP is 1.6%
(A) C.R. Rao capita income (B) The share of service sector in
(B) P.C. Mahalanobis (C) An increase in national income India’s GDP is only 25%
(C) V.K.R.V. Rao at current prices overtime (C) 58% of its working population
(D) K.N. Raj (D) An increase in national is engaged in agriculture, but
3. The national income of a country income along with increase in the contribution of agriculture
for a given period is equal to the population to the national income is 22%
[UPSC (Pre) 2013] 9. The most appropriate measure of a (D) India occupies only 2.4% of the
(A) Total value of goods and country’s economic growth is its world’s geographical area
services produced by the [UPSC (Pre) 2001] 15. The growth rate of per capita
nationals (A) Gross Domestic Product income at current prices is higher
(B) Sum of total consumption and (B) Net Domestic Product than that of per capita income at
investment expenditure (C) Net National Product constant prices, because the later
(C) Sum of personal income of all (D) Per Capita Real Income takes into account the rate of
individual [Karnataka PSC (Pre) 2000]
10. The Hindu rate of growth refers to
(D) Money value of final goods and the growth rate of (A) growth of population
services produced [UPPCS (Mains) 2004 (B) increase in price level
4. Which among the following sectors UPPCS (Pre) 1996, 2006] (C) growth of money supply
contribute most to GDP of India? (A) Per Capita Income (D) increase in the wage rate
[MPPCS (Pre) 2008] (B) National Income 16. Human Development Index (HDI)
(A) Primary sector (C) Population comprises literacy rates, life
(B) Secondary sector (D) Literacy expectancy at birth and
(C) Tertiary sector [MPPCS (Pre) 2008]
11. Which of the following causes
(D) All three contribute equally have been mainly responsible for (A) Gross Domestic Product per
5. Which one of the following is the the slow growth of real per capita head in US Dollars
correct sequence in the decreasing income in India? (B) Gross Domestic Product per
order of contribution of different head at real purchasing power
1. Rapid rise in population
sectors to the Gross Domestic (C) Gross National Product in US
2. Rapid rise in prices
Product of India? [UPSC (Pre) 2008] Dollars
3. Slow pace of progress in
(A) Service, Industry, Agriculture (D) National Income per head in US
agriculture and industrial fields
(B) Service, Agriculture, Industry Dollars
4. Non-availability of foreign
(C) Industry, Service, Agriculture exchange 17. National Income is the
[UPSC (Pre) 1997]
(D) Industry, Agriculture, Service Choose the correct answer from the
6. Indicate the vital change in the codes given below. (A) Net National Product at market
measurement of National Income [UPPSC (Pre) 2001]
price
of India. [RAS (Pre) 2015] (B) Net National Product at factor
(A) Only 1 and 2 (B) Only 1 and 3
cost
(A) Base year has been changed (C) Only 1 and 4 (D) All of these
from 2004-05 to 2011-12 (C) Net Domestic Product at
12. The first measure of India’s market price
(B) Calculation has been changed National Income was made by
from factor cost to market prices (D) Net Domestic Product at factor
[UPPCS (Pre) 2007
cost
(C) Calculation has been changed UPSC (Mains) 2014]
from current prices to constant 18. The term National Income
(A) William Digby
prices represents [UPCS (Pre) 2001]
(B) Dadabhai Naoroji
(D) Both the base year and (A) Gross National Product
(C) M.G. Ranade at market price minus
calculation method have been (D) V.K.R.V. Rao
changed depreciation
13. The Per Capita Income in India was (B) Gross National Product
7. The Government of India has ` 20 in 1867-68 was ascertained for
decided to revise the base for at market price minus
depreciation plus net factor 21. The most simple and popular 25. Which of the following methods
Income from abroad method of measuring economic is not being used in the
(C) Gross National Product at mar- development is to calculate the unemployment estimation by the
ket price minus depreciation trend of Gross National Product NSSO in India?
and indirect tax plus subsidies (GNP) at [HPPSC (Pre) 2014] [UPPCS (Mains) 2005, 2016]
(D) Gross National Product at (A) Current prices (A) Current monthly status
market price minus net factor (B) Constant prices (B) Current daily status
income from abroad (C) Both of the above (C) Current weekly status
19. In an open economy, the National (D) None of the above (D) Usual principal status
Income (y) of the economy is (C, I, 22. When National Income is 26. Economic Survey in India is
G, X, M, Y stand for Consumption, calculated with reference to a base published by [UPSC (Mains) 2016]
Investment, Government year, it is called [HPPSC (Pre) 2014] (A) Ministry of Finance
Expenditure, Total Exports, Total (A) Nominal national income (B) Planning Commission
Imports and National Income,
(B) Real national income (C) Ministry of Commerce
respectively).
(C) Net national income (D) Indian Statistical Institute
Select the correct answer from the
(D) Gross national income 27. One of the problems in calculating
following. [UPSC (Pre) 2000]
23. Which among the following are the National Income in India is
(A) Y = C + I + G + X
factors that determine the national [UKPSC (Pre) 2016
(B) Y = I + G – X + M income of a country? BPSC (Pre) 2018]
(C) Y = C + I + G + (X – M) [HPPSC (Pre) 2014] (A) Under-employment
(D) Y = C + I – G + (X – M) (A) Quantity and Quality of factors (B) Inflation
20. Which of the following is/are the of produced (C) Low level of savings
component(s) of Gross Domestic (B) The state of technical (D) Non-monetised consumption
Capital Formation (GDCF)? knowledge 28. What was India’s estimated GDP
1. Gross Domestic Saving (C) Economic and Political stability growth rate for 2018-19 in the
2. Net Capital Inflow (D) All of the above Economic survey?
3. Direct Foreign Investment 24. National Sample Survey Office [HPPSC (Pre) 2018]
Choose the correct answer from the (NSSO) was established in the year (A) 6.3% - 7.1%
codes given below. [HPPSC (Mains) 2014] (B) 7.2% - 7.5%
[HPPSC (Pre) 2011] (A) 1950 (B) 1951 (C) 7% - 7.5%
Code (C) 1947 (D) 1948 (D) 7% - 7.2%
(A) Only 1 (B) Only 2
(C) Only 3 (D) Both 1 and 2
Answer Sheet
1. (C) 2. (B) 3. (D) 4. (C) 5. (A) 6. (D) 7. (C) 8. (B) 9. (D) 10. (B)
11. (B) 12. (B) 13. (D) 14. (B) 15. (B) 16. (D) 17. (B) 18. (C) 19. (C) 20. (D)
21. (B) 22. (B) 23. (D) 24. (A) 25. (A) 26. (A) 27. (D) 28. (C)
3. Economic Planning of India

1. In India, planned economy is based 2. For extending the benefits 5. Which was the final authority in
on [UPPCS (Pre) 2007] of development in an even India to approve Five Year Plans?
(A) Gandhian System manner. [MPPCS 2008]
(B) Socialist System 3. For focusing on removal of (A) Union Council of Ministers
(C) Capitalist System regional disparities. (B) Planning Commission
(D) Mixed Economy System 4. For maximising the utilisation (C) Prime Minister
2. The Gandhian Plan was expounded of available resources of these.
(D) National Development Council
in 1944 by [UPPCS (Pre) 2015] (A) Only 1 and 2 are correct
(NDC)
(A) N.R. Sarkar (B) Only 1, 2 and 3 are correct
6. ..... got the highest priority during
(B) Kasturi Bhai Lal Bhai (C) Only 2, 3 and 4 are correct
the first plan period in India.
(C) Jai Prakash Narayan (D) 1, 2, 3 and 4 are correct [Tripura PSC (Pre) 2018
(D) Shriman Narayan Agarwal 4. National Planning Committee was HCS (Pre) 2014]
3. Consider the following pre- set up by [MPPCS (Pre) 2013]
(A) Self reliance
requisites for planning. It is (A) Jawahar Lal Nehru (B) Growth with social justice
[UPPCS (Mains) 2016] (B) A. Dalal
(C) Development of agriculture
1. For balanced socio-economic (C) S. Bose including irrigation
development. (D) L.B. Shastri (D) Removed of unemployment
7. Khadi and village industry (A) Solow model (C) Fourth Five Year Plan
commission was established in (B) Domar model (D) Fifth Five Year Plan
[HCS (Pre) 2014] (C) Robinson’s model 24. In which one of the year ‘Rolling
(A) Third Plan (B) Fourth Plan (D) Mahalanobis model Plan’ was in operation in India?
(C) Second Plan (D) First Plan 16. Under which ‘Five Year Plan’ [UPPCS (Mains) 2009]
8. Which plan among the following was the decision to establish a (A) 1968-69 (B) 1978-79
declared its objective of self- socialistic pattern of society taken? (C) 1988-89 (D) 1990-91
reliance and zero net foreign aid? [MPPCS (Pre) 2014] 25. The Plan Holiday refers to the
[UPPCS (Mains) 2014] (A) First Five Year Plan period [RAS (Pre) 1995]
(A) Second Five Year Plan (B) Second Five Year Plan (A) 1955-68 (B) 1965-68
(B) Third Five Year Plan (C) Third Five Year Plan (C) 1966-69 (D) 1978-80
(C) Fourth Five Year Plan (D) Fourth Five Year Plan 26. ‘The Rolling Plan’ for backward
(D) Fifth Five Year Plan 17. Planning in India, in real sense, countries was suggested by
9. Consider the following statements began with the Second Five Year [UPPCS (Mains) 2004]
regarding Indian Planning. Plan. Who was the architect of (A) G. Myrdal (B) W.A. Lewis
1. The Second Five Year Indian Planning? [MPPSC 2007]
(C) R. Nurkse (D) A. Samuelson
Plan emphasised on the (A) Jawaharlal Nehru
establishment of heavy 27. Consider the following statements
(B) Morarji Desai
industries. about ‘Rolling plan’ it is
(C) C.D. Deshmukh
2. The Third Five Year Plan 1. A plan for single year.
(D) P.C. Mahalanobis
introduced the concept of 2. A plan that is determined for 3,
18. Core Sector in the planning means
import substitution as a 4 or 5 years.
[RAS (Pre) 1996]
strategy for industrialisation. 3. Reviewed every year according
(A) Agriculture
Which of the statement(s) given to the necessities of the
(B) Defense economy.
above is/are correct?
[UPSC (Pre) 2009]
(C) Iron and Steel Industry 4. A pre-requisite plan for 10, 15
(D) Selected Basic Industry or 20 years of these.
(A) Only 1
(B) Only 2 19. Goal of Third Five Year Plan in Choose the correct answer from the
India is [RAS (Pre) 1992] codes given below.
(C) Both 1 and 2
(A) equal distribution of Income [UPPCS (Mains) 2016]
(D) Neither 1 nor 2
(B) self sufficiency and to decrease Code
10. First Five Year Plan was started in
dependency on foreign aids
[MPPCS 2013] (A) Only 1 and 2 are correct
(C) development of Backward
(A) 1951-52 (B) 1956-57 (B) Only 1 and 3 are correct
castes
(C) 1961-62 (D) 1966-67 (D) increase in share of private (C) Only 2 and 3 are correct
11. The Planned Development Model sector (D) 1, 2, 3 and 4 are correct
was adopted in India from 20. The basic objective of Fifth Five 28. The core slogan of Seventh Plan
[RAS (Pre) 2013] was [RAS (Pre) 1995]
Years Plan was [MPPCS (Pre) 2015]
(A) 1st April, 1951 (A) Poverty Removal (A) Food, work and productivity
(B) 15th August, 1947 (B) Reforms in public distribution (B) Free education for all children
(C) 26th January, 1950 system (C) Five percent growth rate of
(D) 1st May, 1965 (C) Inclusive growth national income
12. Which of the following Five Year (D) Exclusive growth (D) Community development
Plans witnessed the highest growth 21. During which Five Year Plan was programme
rate in India? [RAS (Pre) 2013]
the Emergency claimed, new 29. Which one of the following Five
(A) Eighth Plan (B) Ninth Plan elections took place and the Janta Year Plans recognised human
(C) Tenth Plan (D) Eleventh Plan Party was elected? [UPSC (Pre) 2009] development as the core of all
13. What is the growth rate aimed at in (A) Third (B) Fourth development efforts?
the Eighth Five Year Plan? (C) Fifth (D) Sixth [UPSC (Pre) 1995]
[UPPCS (Pre) 1995] (A) The Third Five Year Plan
22. The slogan of ‘poverty abolition’
(A) 5.6% (B) 6% was given in which Five Year Plan? (B) The Fifth Five Year Plan
(C) 6.5% (D) 7% [HCS (Pre) 2014 (C) The Sixth Five Year Plan
14. The period of Eleventh Five Year UPPCS (Pre) 2007] (D) The Eighth Five Year Plan
Plan in India, was (A) Second Plan (B) Fourth Plan 30. Which Five Year Plan operated in
[UPPCS (Mains) 2008] (C) Fifth Plan (D) Sixth Plan India during April 1992 - March
(A) 2005-2010 (B) 2006-2011 23. The Five Year Plan that terminated 1997? [UPPCS (Pre) 1998]
(C) 2007-2012 (D) 2008-2013 one year before the scheduled (A) Sixth Plan
15. The Second Five Year Plan was period is [RAS (Pre) 1995] (B) Seventh Plan
base on which model? (A) Second Five Year Plan (C) Eighth Plan
[MPPCS (Pre) 2007, 2015] (B) Third Five Year Plan (D) Rolling Plan
31. Which Five Year Plan in India 37. Inclusive growth as enunciated in infrastructure begins in
gave emphasis on co-operative the Eleventh Five Year Plan does [UPSC (Pre) 2010]
Federalism? [HCS (Pre) 2014] not include one of the following (A) Fourth Plan (B) Sixth Plan
(A) Ninth Five Year Plan [UPSC (Pre) 2010] (C) Eighth Plan (D) Tenth Plan
(B) Tenth Five Year Plan (A) Reduction of poverty 42. Who authored the book, ‘Planned
(C) Eleventh Five Year Plan (B) Extension of employment Economy for India’?
(D) Twelfth Five Year Plan opportunities [MPPSC (Pre) 2018]
32. In which of the following Five Year (C) Strengthening of capital (A) M. Visvesvaraya
Plans the Women’s component market (B) J.R.D. Tata
plan was introduced as a major (D) Reduction of gender inequality (C) G.D. Birla
strategy? [UPPCS (Mains) 2016] 38. Since the start of planning in India, (D) Pattabhi Sitaramayya
(A) Tenth Five Year Plan the total number of years not 43. Eleventh Five Year Plan
(B) Eleventh Five Year Plan covered by any five year plans is emphasised on [RAS (Pre) 2018]
(C) Ninth Five Year Plan [UPPCS (Pre) 1999]
(A) Economic Growth Social
(D) Twelfth Five Year Plan (A) 6 (B) 7 Justice
33. Which one of the following Five (C) 5 (D) 3 (B) Economic Growth and Human
Years Plan of India focused on 39. The planning process in the Development
‘Growth with Social Justice and industrial sector in India has (C) Faster and more inclusive
Equity’? [UPPCS (Mains) 2015] assumed a relatively less important growth
(A) Ninth Five Year Plan position in the nineties as compared (D) Faster, Sustainable and more
(B) Third Five Year Plan to that in the earlier period. Which inclusive growth
one of the following is not true in
(C) Fourth Five Year Plan 44. In India which of the following Five
this regard? [UPPCS (Pre) 1999]
(D) Fifth Five Year Plan Year Plans was launched with a
(A) With the advent of focus on sustainable growth?
34. National Horticulture Mission was liberalisation, industrial
launched in which of the following [UPPCS (Pre) 2018]
investments / developments
Five Year Plans? have largely been placed within (A) 9th (B) 10th
[UPPCS (Mains) 2009] the domain of private and (C) 11th (D) 12th
(A) Eleventh Five Year Plan multinational sector 45. Match the following plans and
(B) Tenth Five Year Plan (B) With markets assuming a programmes
(C) Ninth Five Year Plan central place, the role of central List-I (Plan)
(D) None of the above planning in many sector has (a) 1st plan (b) 2nd plan
35. In the Eleventh Five Year been rendered redundant (c) 3rd plan (d) 4th plan
Plan, which of the following (C) The focus of planning has (e) 5th plan
sectors accounts for maximum shifted to sectors like human, List-II (Programmes)
combined Central, State and U.T. resource development, 1. Rapid Industrialisation
expenditure? [UPPCS (Pre) 2010] infrastructure, population
2. Community Development
(A) Transport control and welfare
3. Expansion of basic industries
(B) Energy (D) The nation’s priorities have
shifted away from industrial 4. Minimum Needs programme
(C) Agriculture and Rural
development to rural 5. Achievement of self reliance
(D) Social Sector and growth with stability
development
36. The core concept of the Eleventh Select the correct answer from the
Five Year Plan was 40. ‘Planning from below’ is known as
[HCS (Pre) 2014] codes below.
[UPPCS (Mains) 2008
[UPPCS (Mains) 1994]
UKPCS (Pre) 2011] (A) Centralised planning
(B) Decentralised planning Code
(A) Human Resource Development
(C) Functional planning (a) (b) (c) (d) (e)
(B) Growth with social justice and
equality (D) Structural planning (A) 1 2 3 4 5
(C) Human well being 41. In the context of India’s Five (B) 2 1 4 5 3
(D) Faster and more inclusive Year Plans, a shift in the pattern (C) 2 1 3 4 5
growth of Industrialisation, with lower (D) 2 1 3 5 4
Answer Sheet
1. (D) 2. (D) 3. (D) 4. (C) 5. (D) 6. (C) 7. (C) 8. (C) 9. (C) 10. (A)
11. (A) 12. (D) 13. (A) 14. (C) 15. (D) 16. (B) 17. (D) 18. (D) 19. (B) 20. (A)
21. (C) 22. (C) 23. (D) 24. (B) 25. (C) 26. (A) 27. (D) 28. (A) 29. (D) 30. (C)
31. (A) 32. (C) 33. (A) 34. (B) 35. (D) 36. (B) 37. (C) 38. (B) 39. (D) 40. (B)
41. (B) 42. (A) 43. (C) 44. (D) 45. (D)
4. Main Sectors of Indian Economy

1. The farmers are provided credit Statement B: RAJFED is working (A) 1 and 2 (B) Only 2
from a number of sources for in the state to ensure fair prices to (C) 1 and 3 (D) Only 3
their short and long-term needs. farmers for their crops. 10. Who was the person not associated
The main sources of credit to the Statement C: RAJFED is working with the Green Revolution when it
farmers include [UPSC (Pre) 1999] in the state as apex development started in India? [MPPSC (Pre) 2005]
(A) The primary Agriculture coop- bank for agriculture. (A) M.S. Swaminathan
erative societies, commercial (A) All statements are correct (B) C. Subramaniam
banks, RRBs commercial banks (B) A and B are correct (C) Indira Gandhi
and private money lenders
(C) A and C are correct (D) Rafi Ahmed Kidwai
(B) The NABARD, RBI, commercial
banks and private money (D) Only A is correct 11. Green revolution was the result
lenders 5. Who among the following is of adaption of New Agricultural
associated with ‘White revolution’? strategy which was introduced in
(C) The District Central Cooper-
[MPPCS (Pre) 2012] 20th Century during decades of
ative Banks (DCCB), the lead
(A) P.J. Kurien [UPPCS (Pre) 2015]
banks, IRDP and JRY
(B) Verghese Kurien (A) Fifties (B) Sixties
(D) The large scale multi-purpose
Adivasis Programme, DCCB, (C) M.S. Swaminathan (C) Seventies (D) Eighties
IFFCO and commercial banks (D) M.S. Raghanathan 12. Green Revolution is related to
2. Which of the following are the [UPPCS (Pre) 2015]
6. White revolution is related to
objectives of the commission [UPPCS (Pre) 2015]
(A) Millet production
for Agricultural costs and prices (B) Pulse production
(A) Egg production
(CACP)? (C) Wheat production
(B) Milk production
1. To stabilise agricultural prices. (D) Oil seed production
(C) Wheat production
2. To ensure meaningful real 13. Indian Green Revolution started
(D) Fish production from
income levels to the farmers. [MPPSC (Pre) 2005]
3. To protect the interest of 7. Who is known as ‘Father of White (A) Pantnagar (B) Bangalore
the consumers by providing Revolution’ in India?
(C) Kanpur (D) Delhi
[HPPSC (Pre) 2015
essential agricultural 14. Actively associated with Green
UPPCS (Pre) 2006]
commodities at reasonable Revolution [MPPSC (Pre) 1999]
rates though public distribution (A) M.S. Swaminathan
(B) V. Kurien (A) Dr. Swaminathan
system.
(C) K.N. Bhat (B) Dr. Kurien
4. To ensure maximum price for
the farmer. (D) B.P. Pal (C) C. Subramaniam
Choose the corret answer from the 8. ‘Operation Flood’ is associated (D) Dr. Abdul Kalam
codes given below. [UPSC (Pre) 1995] with [MPPSC (Pre) 1995] 15. Green revolution had the greatest
Code (A) Flood control impact on [UPPCS (Pre) 1994]
(A) 1, 2 and 3 (B) 1, 2 and 4 (B) Irrigation Project (A) Rice

(C) 2, 3 and 4 (D) 2, 3 and 4 (C) Storage of food grains (B) Maize
3. Public procurement of food grains (D) Milk production and (C) Barley
at support prices insures the distribution (D) Wheat
following. 9. Consider the following statements. 16. The ‘Green Revolution’ involved
1. Stability in farm prices 1. Regarding the procurement the use of high yielding varieties of
2. Remunerative prices to the of food grains, Government of seeds which required
farmers India following a procurement [UPPCS (Pre) 2003]
3. Building food stocks for public target rather than open-ended (A) less fertilizer and less water
distribution procurement policy. (B) more fertilizer and less water
Which of the above statements are 2. Government of India (C) less fertilizer and more water
correct? [RAS (Pre) 2013] announces minimum support (D) more fertilizer and more water
prices only for cereals.
(A) 1 and 2 (B) 2 and 3 17. The importance of agriculture in
3. For distribution under
(C) 1, 2 and 3 (D) Only 3 Indian economy is indicated by
Targeted Public Distribution
4. Following are the statements its contribution to which of the
System (TPDS), Wheat and rice
associated with RAJFED. Choose following? [UPPCS (Pre) 2007]
are issued by the government
the correct answer from the codes of India at uniform central (A) National income and
given below. [RAS/RTS (Pre) 2013] issue prices to the State/Union employment
Statement A: RAJFED is working Territories. (B) Industrial development and
in the state to make available HYV Which of the statement(s) given international trade
seeds, fertilizers and pesticides to above is/are correct? (C) Supply of food grains
farmers at fair prices. [UPSC (Pre) 2004] (D) All of the above
18. Reason for low-productivity in (A) Agricultural Sector 3. Establishing the technology
Indian agriculture is (B) Industrial Sector acquisition and development
[UPPCS (Mains) 2016; HCS (Pre) 2014 (C) Service Sector fund.
UPPCS (Pre) 2007] (D) Trade Sector Select the correct answer using the
(A) engagement of more persons 26. In India, which of the following codes given below. [UPSC (Pre) 2012]
in agricultural operations than have the highest share in the (A) Only 1 (B) 2 and 3
needed disbursement of credit to (C) 1 and 3 (D) 1, 2 and 3
(B) small land holdings agriculture and allied activities? 31. Which of the following is included
(C) backward technique of [UPSC (Pre) 2011 in National Food Security Mission
production HPPSC (Pre) 2014] (NFSM)? [UPPSC (Mains) 2014]
(D) All of the above (A) Commercial Banks (A) Wheat
19. Yellow Revolution is concerned (B) Micro Finance Institution (B) Pulses
with the production of (C) Regional Rural Banks (C) Rice
[UPPCS (Pre) 2007] (D) Co-operative Banks (D) All of the above
(A) Food grains (B) Fish 27. Which among the following is 32. Since 1997-98 which statement
(C) Oil seeds (D) Milk providing least institutional credit is correct regarding Minimum
20. The term ‘Evergreen Revolution’ to agriculture and allied activities Support Price (MSP)?
has been used for increasing in recent years? [RAS (Pre) 2016]
agricultural production in India by [UPPCS (Mains) 2010] (A) MSP = C2 costs
[UPPSC (Mains) 2015] (A) Commercial Banks (B) MSP > C2 costs
(A) Norman Borlaug (B) Foreign Private Banks (C) MSP < C2 costs
(B) M.S. Swaminathan (C) Co-operative Banks (D) MSP is independent to C2 cost
(C) Raj Krishna (D) Regional Rural Banks 33. Among the following, which one
(D) R.K.V. Rao 28. Following are the source of is related to Blue Revolution in
21. ‘Super Rice’ was developed by institutional credit to agriculture in India? [MPPCS (Pre) 2016]
[UPPCS (Pre) 2007] India. (A) Floriculture (B) Sericulture
(A) M.S. Swaminathan 1. Co-operative Banks (C) Pisciculture (D) Horticulture
(B) G.S. Khush 2. Regional Rural Banks 34. NAFED is connected with
(C) N.E. Borlaug 3. Commercial Banks [UPPCS (Pre) 1995]
(D) P.K. Gupta Which one is the correct sequence (A) Animal husbandary
22. Which one of the following is the in descending order of their (B) Conservation of fuel
primary sector of India’s economy? importance? [UPSC (Mains) 2016] (C) Agricultural marketing
[UPPCS (Pre) 2015] (A) 1, 3, 2 (B) 2, 1, 3 (D) Agricultural implements
(A) Agriculture (B) Industry (C) 3, 2, 1 (D) 3, 1, 2 35. Public Distribution System is aimed
(C) Cooperative (D) None of these 29. Green Revolution made the country at [MPPCS (Pre) 2008]
23. The prices at which the government self-sufficient in food production, (A) providing food security to the
purchases grains for maintaining but had some fallouts. Consider the poor
public distribution system and for following statements. (B) to prevent hoarding and black
building up buffer-stock is known 1. It is successful in case of wheat, marketing
as [MPPSC (Pre) 2005] but not in the case pulses. (C) to prevent overcharging by
(A) Minimum Support Prices 2. Brought inter-state disparities. traders
(B) Procurement Prices 3. Help in restoring soil fertility. (D) All of the above
(C) Issue Prices 4. Reduced water table in some 36. Some time back, the Government
(D) Ceiling Price states. of India, decided to delicense
24. Indian agriculture has the Select the correct statements from ‘White goods industry’. White
following features. the codes given below. goods includes [UPSC (Pre) 1998]
1. Dependence of agriculture on [HPPSC (Pre) 2016] (A) stainless steel and aluminium
the monsoons (A) 1, 2 and 4 utensils
2. Abolition of zamindari (B) Only 2 and 4 (B) milk and milk products
3. Absence of trade unions in the (C) 1, 3 and 4 (C) items purchased for
agricultural sector (D) All are correct conspicuous consumption
4. Heavy pressure of population 30. What is/are the recent policy (D) soaps, detergents and other
on land initiative(s) of government of mass consumption goods
Which of the above is responsible India to promote the growth of 37. Consider the following statements.
for disguised unemployment in manufacturing sector? Small-Scale industries are in
agriculture? [HPPSC (Pre) 2010] 1. Setting up of National most cases not as efficient and
(A) Only 1 (B) Only 1 and 2 Investment and manufacturing competitive as the large-scale
(C) 1, 2 and 3 (D) Only 4 Zones. ones. Yet the Government provides
25. India disguised unemployment is 2. Providing the benefits of ‘single preferential treatment and
found in [UPPCS (Mains) 2006] window clearance’. reservation in a range of products
to the small firms because small (A) Abid Hussain Committee 3. Proposed uniform tax of
scale-industries. (B) Narsimhan Committee minimum 3% and maximum
1. Provide higher employment on (C) Nayak Committee 4% on wheat and rice and the
per unit capital development (D) Rakesh Mohan Committee same to be included in the
basis. 42. The Meera Seth Committee was minimum support price.
2. Promote a regional dispersion concerned with [UPPCS (Pre) 1997] (A) Only 1 and 2
of industries and economic (B) Only 1 and 3
(A) development of handlooms
activities. (C) Only 2 and 3
(B) gender bias in employment
3. Have performed better in ex- (D) None of the above
(C) the abolition of the child labour
port of manufactured products 48. Which one of the following
(D) the welfare of the working
than the large scale ones. led the Malegam committee to
women
4. Provide jobs to low skill recommend for interest rate cap for
workers who otherwise may 43. Which one of the following is micro-finance institutions?
not find employment avenues not the problem of Small Scale [HPPSC (Pre) 2010]
else where. Industries (SSIS)? (A) Promoters of micro-finance
[UPPCS (Pre) 2008]
Which of the above statements are institution growing rich
correct? [UPSC (Pre) 1999]
(A) Finances (B) High interest rate
(B) Marketing (C) Small loans offered to micro-
(A) 1 and 4 (B) 1 and 2
(C) Raw material enterprises
(C) 2 and 3 (D) 3 and 4
(D) Strikes and lockouts (D) Borrowers stopped repaying
38. Small Scale and Cottage Industries
are important because 44. The Concept of ‘Navratna’ is loans
[RAS (Pre) 2000] associated with [UPPCS (Pre) 2008] 49. RBI has set up a committee to study
(A) they provide more employment (A) selected categories of technical and give suggestion on the micro-
manpower finance sector. It’s chairman was
(B) Government helps them
(B) selected export - oriented units [UPPCS (Mains) 2010]
(C) they are traditional
(C) selected food - processing (A) Y.H. Malegam
(D) management is easy
industries (B) Abid Hussain
39. Which one of the following is the (C) Bimal Jalan
(D) selected Public Sector
objective of National Renewal (D) Rakesh Mohan
Enterprises
Fund? [UPSC (Pre) 1999]
45. The share of the tertiary sector in 50. Micro-finance is the provision
(A) To safeguard the interests services to people of low-income
total GDP of India has
of who may be affected by groups. This includes both the
[Tamil Nadu PCS (Pre) 1999]
technological upgradation of consumers and the self-employed.
industry or closure of sick units (A) shown an increasing trend
(B) shown a decreasing trend The service/services rendered
(B) To develop core sectors of the under micro-finance is/are
economy (C) remained constant
(D) been flactuating 1. Credit-facilities
(C) For the development of
46. In the last one decade, which one 2. Saving facilities
infrastructure such as energy,
transport, communications and among the following sectors has 3. Insurance facilities
irrigation attracted the highest foreign direct 4. Fund transfer facilities
(D) For human resource investment inflows into India? Select the correct answer using the
development such as full [UPSC (Pre) 2004] codes given below. [UPSC (Pre) 2011]
literacy, employment, (A) Chemicals other than fertilizers (A) Only 1 (B) Only 1 and 4
population control, housing (B) Services Sector (C) Only 2 and 3 (D) 1, 2, 3 and 4
and drinking water (C) Food processing 51. Why is the Government of India
40. Consider the following factors (D) Telecommunication disinvesting its equity in the
regarding industry. 47. Shanta Kumar Committee Central Public Sector Enterprises
1. Capital investment has submitted its report on (CPSEs)?
2. Business turnover restructuring of Food Corporation 1. Government intends to use
3. Labour force of India (FCI) to Mr. Modi. the revenue earned from the
4. Power consumption Read the following recommenda- disinvestment mainly to pay
tions and find the incorrect ones. back the external debt.
Which of these determine the
nature and size of the industry? [HPPSC (Pre) 2014] 2. The government no longer
[UPSC (Pre) 2001] 1. FCI procurement should focus intends to retain the manage-
on the western belt, where ments control of the CPSEs.
(A) 1, 3 and 4 (B) 1, 2 and 4
farmers get the minimum Which of the statement(s) given
(C) 2, 3 and 4 (D) 2 and 3
support price. above is/are correct?
41. Which one of the following [Punjab PSC (Pre) 2011]
committees recommended the 2. FCI should hand over the
procurement of wheat and rice (A) Only 1
abolition of reservation of items
for the Small Scale Sectors in to four states which include (B) Only 2
industry? [UPSC (Pre) 2002] Punjab, Haryana, Andhra (C) Both 1 and 2
Pradesh and Chattisgarh. (D) Neither 1 nor 2
52. As per Micro, Small and Medium 59. Long-term agricultural credit is the Minimum Support Price for
Enterprises Development Act 2006, provided by which of the above?
medium enterprises are defined as [UPPCS (Mains) 2008, 2014] [UPSC (Pre) 2018]
those with the investment of (A) Primary Cooperative Society (A) Only 1, 2, 3 and 7
[UPPCS (Mains) 2016] (B) District Cooperative Bank (B) Only 2, 4, 5 and 6
(A) ` 25 lakhs to ` 5 crores (C) Land Development Bank (C) Only 1, 3, 4, 5 and 6
(B) ` 5 crores to ` 10 crores (D) State Cooperative Bank (D) 1, 2, 3, 4, 5, 6 and 7
(C) less than ` 10 crores 60. National Agricultural Insurance 65. Consider the following statements.
(D) more than ` 10 crores Scheme was launched in the year 1. The Food Safety and
53. In relation to Agricultural Finance [UPPCS (Mains) 2006] Standards Act, 2006 replaced
and Refinance which institution is (A) 1995-96 the Prevention of Food
the biggest? [UPPCS (Mains) 2014] (B) 1998-99 Adulteration Act, 1954.
(A) Regional Rural Bank (C) 1999-2000 2. The Food Safety and Standards
(B) NABARD Institution (D) 2001-02 Authority of India (FSSAI) is
(C) Central Cooperative Bank 61. Match List-I with List-II and select under the charge of Director
(D) Land Development Bank the correct answer from the codes General of Health Services in
54. The registered exporters, whose given below the lists. the Union Ministry of Health
export performance in several [UP RO (Pre) 2018] and Family Welfare.
years is of high quality, are known List-I (Crop/Plantation) Which of the statement(s) given
as [UPPCS (Mains) 2011] above is/are correct?
(a) Jute (b) Tea
(A) Export Houses [UPSC (Pre) 2018]
(c) Sugarcane (d) Rubber
(B) Trading Houses (A) Only 1
List-II (Largest producer
(C) Star Trading Houses (B) Only 2
state)
(D) None of the above (C) Both 1 and 2
1. Kerala
55. Import procedure begins with (D) Neither 1 nor 2
2. Uttar Pradesh
[UPPCS (Mains) 2011] 66. With reference to the provisions
3. Assam
(A) Mate’s receipt made under the National Food
4. West Bengal Security Act, 2013, consider the
(B) Marine insurance Code following statements.
(C) Indent (a) (b) (c) (d) 1. The families coming under
(D) Shipping bill (A) 4 3 2 1 the category of ‘below poverty
56. Concept of ‘Joint Sector’ for (B) 3 1 2 4 line (BPL)’ only are eligible to
industrial development of India (C) 2 4 3 1 receive subsidised food grains.
was envisaged in Industrial Policy
(D) 1 2 3 4 2. The eldest women in a
Resolution of [UPPCS (Mains) 2004]
62. Which of the following agencies household of age 18 years or
(A) 1948 (B) 1956 above, shall be the head of the
is not engaged in exporting
(C) 1980 (D) 1991 agricultural goods from India? household for the purpose of
57. The licensing policy for the [UP RO (Pre) 2018] issuance of a ration card.
industries drew strength from (A) NAFED 3. Pregnant women and lactating
[UPPCS (Mains) 2007] mothers are entitled to a ‘take-
(B) State Trading Corporation
(A) Industrial Policy Resolution, home ration’ of 1600 calories
(C) IFFCO
1948 per day during pregnancy and
(D) MMTC
(B) Industrial Policy Resolution, for six months thereafter.
1956 63. Among the Indian States, Uttar
Which of the statement(s) given
Pradesh is the largest producer of
(C) Congress Party Resolution of above is/are correct?
which of the following crops?
establishing Socialistic pattern [UPSC (Pre) 2018]
[UP RO (Pre) 2018]
of society (A) Only 1 and 2 (B) Only 2
(D) Industries Act 1951 (A) Wheat, Potato, Groundnut
(C) Only 1 and 3 (D) Only 3
(B) Wheat, Potato, Sugarcane
58. The second Green Revolution 67. Consider the following statements.
proposed by the Prime Minister (C) Potato, Sugarcane, Cotton
(D) Potato, Sugarcane, Paddy 1. In India, State Governments do
does not include not have the power to auction
[UPPCS (Mains) 2008] 64. Consider the following. non-coal mines.
(A) help to Indian farmers 1. Area nut 2. Andhra Pradesh and Jharkhand
to participate in global 2. Barley do not have gold mines.
agricultural trade 3. Coffee 3. Rajasthan has iron ore mines.
(B) minimisation of the post 4. Finger millet Which of the statement(s) given
harvest wastage 5. Groundnut above is/are correct?
(C) improvement in storage of 6. Sesamum [UPSC (Pre) 2018]
crops 7. Turmeric (A) Only 1 and 2 (B) Only 2
(D) encouragement to foreign The Cabinet Committee on (C) Only 1 and 3 (D) Only 3
direct investment in agriculture Economic Affairs has announced
Answer Sheet
1. (A) 2. (A) 3. (C) 4. (B) 5. (B) 6. (B) 7. (B) 8. (D) 9. (D) 10. (D)
11. (B) 12. (C) 13. (A) 14. (A) 15. (D) 16. (D) 17. (D) 18. (D) 19. (C) 20. (B)
21. (B) 22. (A) 23. (A) 24. (D) 25. (A) 26. (A) 27. (B) 28. (D) 29. (A) 30. (D)
31. (D) 32. (B) 33. (C) 34. (C) 35. (D) 36. (C) 37. (A) 38. (A) 39. (A) 40. (A)
41. (A) 42. (A) 43. (D) 44. (D) 45. (A) 46. (B) 47. (A) 48. (B) 49. (A) 50. (D)
51. (D) 52. (B) 53. (B) 54. (C) 55. (C) 56. (B) 57. (D) 58. (D) 59. (C) 60. (C)
61. (A) 62. (D) 63. (B) 64. (B) 65. (A) 66. (B) 67. (D)
5. Inflation and Price Index

1. In India, inflation is measured by (B) increase in price index Workers [CPI(IW)] the WPI
the [UPSC (Pre) 1997 (C) increase in purchasing power gives less weight to food
RAS/RTS (Pre) 2013] (D) increase in price of particular articles.
(A) Wholesale Price Index number goods Which of the following
(B) Consumers Price Index 7. Who amongst the following statement(s) given above is/are
(C) Producer Price Index benefits most from inflation? correct? [Kerala PSC (Pre) 2010]
(D) National Income deflation (A) Creditors [UPPCS (Pre) 1995] (A) Only 1
2. For measuring the changes in the (B) Debtors (B) Only 2
price level of the country, which (C) Saving Bank Account Holders (C) Both 1 and 2
among the following index number (D) Government Pensioners (D) Neither 1 nor 2
is used? [HCS (Pre) 2014] 8. Consider the following statements. 12. Consider the following statements
(A) Consumer price index number and state which is/are correct?
1. Inflation benefits the debtors.
(B) Production index number 1. The sub-prime crisis which hit
2. Inflation benefits the bond
(C) Security price index number the U.S. economy was caused
holders.
(D) Wholesale price index number by sudden increase in oil prices.
Which of the statement(s) given 2. The crisis led to default in home
3. Economic growth is usually above is/are correct? loan repayment.
coupled with [UPSC (Pre) 2010] (A) Only 1 [UPSC (Pre) 2013]
3. It led to failure of some U.S.
(A) Deflation (B) Only 2 Banks.
(B) Inflation (C) Both 1 and 2 4. Sub-prime crisis caused crash
(C) Stagflation (D) Neither 1 nor 2 in Indian stock market.
(D) Hyper-inflation 9. Which one of the following is NOT Choose your answer from the given
4. Inflation rate based on consumer a method to control inflation? codes. [UPPCS (Pre) 2010]
price index increases if [Maharashtra PSC (Pre) 1996] (A) Only 1
[RAS/RTS (Pre) 2016] (A) Controlling the demand (B) Only 2 and 4
(A) Bank rate is decreased (B) Controlling the supply of (C) Only 2, 3 and 4
(B) Reverse repo rate is decreased money (D) 1, 2, 3 and 4
(C) Statutory Liquidity ration is (C) Reducing the rate of interest 13. The most common measure of
increased (D) Rationing of commodities estimating inflation in India is
(D) Repo rate is increased 10. Which of the following price index (A) Price Index [UPPCS (Pre) 2012]
5. Which is incorrect about inflation? number are used for calculation (B) Wholesale Price Index
[RAS/RTS (Pre) 2008] of Central Government employee (C) Consumer Price Index
(A) Inflation indicated the rise wage compensation? (D) Price Index of Index Goods
in the price of basket of [UPPCS (Pre) 2003]
14. Which one of the following state-
commodities on a point-to- (A) Wholesale price index ments is an appropriate description
point basis (B) Consumer price index for of deflation? [UPSC (Pre) 2010]
(B) The inflation rate in India is industrial workers (A) It is a sudden fall in the value
calculated on the basis of the (C) Consumer price index for of a currency against other
wholesale price index agricultural labourers currencies
(C) For some commodities retail (D) None of the above (B) It is persistent recession in both
prices are also considered for 11. With reference to India, consider the financial and real sectors of
measurement of inflation the following statements. economy
(D) Inflation rate going down does 1. The Wholesale Price Index (C) It is a persistent fall in the
not mean prices are declining (WPI) in India is available on a general price level of goods and
6. Inflation is best described as monthly basis only. services
[RAS/RTS (Pre) 1996] 2. As compared on Consumers (D) It is a fall in the rate of inflation
(A) high prices Price Index for Industrial over a period of time
15. Assertion (A): The rate of 4. Refinery products 25. Producer Price Index measures
inflation in India has come down in 5. Textiles [UP RO (Pre) 2018]
the last three years. Select the correct answer using the (A) the average change in the prices
Reason (R): The country has codes given below. [UPSC (Pre) 2012] of produced goods and services
received a large amount of foreign (A) Only 1 and 5 (B) the marginal change in the
capital during these years. (B) Only 2, 3 and 4 prices of produced goods and
Select the correct answer from the (C) Only 1, 2, 3 and 4 services
codes given below. (D) 1, 2, 3, 4 and 5 (C) the total change in the prices of
[UPPCS (Pre) 1998] produced goods and services
19. Index ‘Residex’ is associated with
Code [UPSC (Mains) 2015]
(A) Both (A) and (R) are true and (A) Share Prices 26. Increase in absolute and per capita
(R) is the correct explanation of real GNP do not connote a higher
(B) Mutual Fund Prices
(A) level of economic development, if
(C) Price Index [UPSC (Pre) 2018]
(B) Both (A) and (R) are true, (D) Land Prices
but (R) is not the correct (A) industrial output fails to keep
20. RESIDEX, an index of residential pace with agricultural output
explanation of (A)
prices in India, was launched in the (B) agricultural output fails to keep
(C) (A) is true, but (R) is false year [UPSC (Mains) 2012]
(D) (A) is false, but (R) is true pace with industrial output
(A) 2001 (B) 2004 (C) poverty and unemployment
16. An expression coined by (C) 2007 (D) 2008
economists to describe an economy increase
21. In calculation of index of wholesale (D) imports grow faster than
that is growing at such a slow pace prices, which one of the following
that more jobs are being lost than exports
sector is assigned maximum 27. Match List-I with List-II and select
are being added [HCS (Pre) 2014]
weightage? [UPSC (Mains) 2008]
(A) Stagflation answer using the codes given below
(A) Food articles in the lists. [Punjab PSC (Pre) 2017
(B) Recession (B) Non-food articles UPSC (Pre) 2000]
(C) Growth Recession (C) Fuel, power, light and lubricant
(D) Ratchet Inflation List-I
(D) Manufactured products (a) Boom (b) Recession
17. A rapid increase in the rate of 22. Who has been recently made the
inflation is sometimes attributed to (c) Depression (d) Recovery
chairman of the work group on List-II
the ‘base effect’. What ‘base effect’? revision of Wholesale Price Index
[UPSC (Pre) 2011]
Services? [UPSC (Mains) 2004]
1. Business activities are at high
(A) It is the impact of drastic level with increasing income,
(A) C. Rangrajan output and employment at
deficiency in supply due to
(B) P.R. Panchamukhi macro level.
failure of crops
(C) K.C. Pant 2. Gradual fall of income, output
(B) It is the impact of the surge in
demand due to rapid economic (D) Abhijit Sen and employment with business
growth 23. The base year for All-India activity in a low gear.
(C) It is the impact of the price Wholesale Price Index (WPI) has 3. Unprecedented level of
levels of previous year on the been changed by the Government under employment and
calculation of inflation rate of India from 2004-05 to unemployment, drastic fall in
[BPSC (Pre) 2018] income, output.
(D) None of the statements (A), (B)
and (C) given above is correct (A) 2010-11 (B) 2011-12 4. Steady rise in the general level
in this content (C) 2012-13 (D) 2013-14 of prices, income, output and
18. In India, in the overall Index of 24. Which of the following fixed the employment.
Industrial Production, the indices four percent inflation target in Code
of eight core industries have a India with tolerance level of +/–2 (a) (b) (c) (d)
combined weight of 37-90%. percent for the period 2016 to
(A) 1 2 3 4
Which of the following are among 2021? [RAS/RTS (Pre) 2018]
(B) 1 2 4 3
those eight core industries? (A) Reserve Bank of India
(B) Government of India (C) 2 1 4 3
1. Cement
(C) NITI Aayog (D) 2 1 3 4
2. Fertilisers
3. Natural gas (D) Fourteenth Finance
Commission
Answer Sheet
1. (B) 2. (A) 3. (B) 4. (A) 5. (A) 6. (D) 7. (B) 8. (A) 9. (C) 10. (B)
11. (C) 12. (C) 13. (C) 14. (C) 15. (B) 16. (C) 17. (C) 18. (C) 19. (D) 20. (C)
21. (D) 22. (D) 23. (B) 24. (B) 25. (A) 26. (C) 27. (A)
6. Budget
1. Which of the following comes (A) Total expenditure – (Revenue 14. Consider the following.
under non-plan expenditure? receipts + Recovery of Loans + 1. Market borrowing
1. Subsidies Receipts from disinvestment) 2. Treasury bills
2. Interest Payments (B) Total expenditure – Total 3. Special securities issued to RBI
3. Defence expenditure receipts Which of these is/are component(s)
4. Maintenance expenditure for (C) Total expenditure – (Revenue of internal debt? [UPPSC (Pre) 2001]
the infrastructure created in receipts + Receipts from (A) Only 1 (B) 1 and 2
the previous plans disinvestment) (C) Only 2 (D) 1, 2 and 3
Choose the correct answer using (D) Total expenditure –
15. With reference to the Indian Public
the codes given below. Disinvestment receipts
Finance, consider the following
[UPSC (Pre) 1995, 1997] 8. The largest item of expenditure statements.
(A) 1 and 2 (B) 1 and 3 in the current account of Central 1. External liabilities reported in
(C) 2 and 4 (D) 1, 2, 3 and 4 Government budget is the Union Budget are based on
[Punjab PSC (Pre) 2017
2. Which of the following are among historical exchange rates.
UPPCS (Pre) 1999]
the non-plan expenditures of the 2. The continued high borrowing
Government of India? (A) Defence expenditure has kept the real interest rates
[UPSC (Pre) 1995] (B) Subsidies high in the economy.
1. Defence expenditure (C) Interest payment 3. The upward trend in the ratio
2. Subsidies (D) Expenditure on social services of Fiscal deficit of GDP a recent
3. All expenditure linked with the 9. The largest item of public years has an adverse effect on
previous plan periods expenditure in the Union Budget in private investment.
4. Interest payment recent years has been 4. Interest payment is the single
[UPPCS (Mains) 2009] largest component of the non-
(A) 1 and 2 (B) 1 and 3
(A) Defence expenditure plan revenue expenditure of
(C) 2 and 4 (D) 1, 2, 3 and 4 the Union Government.
(B) Interest payments
3. Economic Survey in India is Which of these statements are
published officially, every year by (C) Major subsidies
(D) Capital expenditure correct? [UPSC (Pre) 2001]
the [UPSC (Pre) 1998]
10. Which one of the following forms (A) 1, 2 and 3
(A) Reserve Bank of India (B) 1 and 4
(B) Planning Commission of India the largest share of deficit in Govt.
of India budget? (C) 2, 3 and 4
(C) Ministry of Finance, (D) 1, 2, 3 and 4
Government of India
(A) Primary deficit 16. A country is said to be a debt trap if
(D) Ministry of Industries, [UPPSC (Pre) 2002]
Government of India (B) Fiscal deficit
(C) Revenue deficit (A) it has to borrow to make interest
4. If interest payment is added to payments on outstanding loans
primary deficit, it is equivalent to (D) Budgetary deficit
(B) it has to borrow to make interest
[UPPCS (Pre) 2010] 11. Which of the following deficit gives
payments on to standing loans
(A) Budget deficit major contribution to total deficit
of Government of India? (C) it has been refused loans or aid
(B) Fiscal deficit by creditors abroad
[MPPCS (Pre) 2005]
(C) Deficit financing (D) the World Bank charges a
(D) Revenue deficit (A) Revenue deficit
very high rate of interest on
(B) Budgetary deficit outstanding as well as new
5. ..... is the difference between total
receipts and total expenditure. (C) Fiscal deficit loans
[HCS (Pre) 2014] (D) Primary deficit 17. A larger part of the fiscal deficit in
(A) Capital deficit 12. In the Union Budget in India, which the Union Budgets is filled by
(B) Budget deficit one of the following is the largest in [UPPCS (Mains) 2005]
amount? [UPPCS (Pre) 2006] (A) Tax revenue
(C) Fiscal deficit
(A) Plan Expenditure (B) Domestic borrowings
(D) Revenue deficit
(B) Non-Plan Expenditure
6. In the Budget of Government of (C) Foreign borrowing
(C) Revenue Expenditure
India, Fiscal deficit less interest (D) Printing paper currency
(D) Capital Expenditure
payment means 18. As compared to revenue deficit,
[UPPCS (Mains) 2004] 13. What is the effect of deficit
financing on economy? fiscal deficit will always remain
(A) Deficit financing [Nagaland PSC (Pre) 2017
[Haryana PSC (Pre) 2017
(B) Budget deficit UPPCS (Pre) 2016]
UPPCS (Mains) 2009]
(C) Fiscal deficit (A) Reduction in taxes (A) higher
(D) Primary deficit (B) Increase in wages (B) lower
7. Fiscal deficit implies (C) Increase in money supply (C) some
[RAS/RTS (Pre) 2013] (D) Decrease in money supply (D) All of the above
19. What was the estimated social List-II (R) is the correct explanation of
sector expenditure in budget 2018- 1. Excess of total expenditure (A)
19? [HPPSC (Pre) 2018 over total receipts (B) Both (A) and (R) are true,
Tamil Nadu PSC (Pre) 2018] 2. Excess of revenue expenditure but (R) is not the correct
(A) 1.36 lakh crore over revenue receipts explanation of (A)
(B) 1.37 lakh crore 3. Excess of total expenditure over (C) (A) is true, but (R) is false
(C) 1.38 lakh crore total receipts less borrowing (D) (A) is false, but (R) is true
(D) 1.39 lakh crore 4. Excess of total expenditure over 26. Consider the following statements
20. Which one of the following is not total receipts less borrowings and select the correct answer using
included in the revenue account of and interest payment the codes given below.
Union Budget? [RAS/RTS (Pre) 2018] Code Assertion (A): There is a
(A) Interest Receipts (a) (b) (c) (d) history of fiscal deficit in Central
(B) Tax Receipts (A) 3 1 2 4 Government budgets in India.
(C) Profits and Dividends of (B) 4 3 2 1 Reason (R): Indian agriculture
Government Department and (C) 1 3 2 4 has enjoyed large amount of
Public Undertakings (D) 3 1 4 2 subsidies compared to developed
(D) Small saving 24. Assertion (A): Fiscal deficit is countries. [Kerala PSC (Pre) 2016
greater than budgetary deficit. UPPCS (Mains) 2004]
21. What was the size of the Budget of
Uttar Pradesh for 2018-19? Reason (R): Fiscal deficit is Code
[UP RO (Pre) 2018] borrowing from the Reserve (A) Both (A) and (R) are true and
(A) ` 824384.53 crores Bank of India plus other liabilities (R) is the correct explanation of
of Government to meet its (A)
(B) ` 428354.53 crores
expenditure. (B) Both (A) and (R) are true,
(C) ` 428384.52 crores
In the context of the given two but (R) is not the correct
(D) ` 824254.52 crores explanation of (A)
statements, which of the following
22. Which one of the following did not is correct? [UPSC (Pre) 1999] (C) (A) is true, but (R) is false
take place in the Union Budget for
Code (D) (A) is false, but (R) is true
2017-18? [UP RO (Pre) 2018]
(A) Both (A) and (R) are true and 27. As per Union Budget 2018-19,
(A) Elimination of the classification match List-I with List-II and select
(R) is the correct explanation of
of expenditure into ‘Plan’ and the correct answer from the codes
(A)
‘Non-Plan’ given below. [UP RO (Pre) 2018]
(B) Both (A) and (R) are true,
(B) Increase in the number of but (R) is not the correct List-I (Sector)
centrally sponsored schemes explanation of (A) (a) Defence
(C) Bringing Railway finances into (C) (A) is true, but (R) is false
the mainstream budgeting (b) Agriculture and allied activity
(D) (A) is false, but (R) is true (c) Subsidy for food
(D) Advancing the date of Union
25. Consider the following statements (d) Rural development
Budget almost by a month
and select the correct answer from
23. Match List-I with List-II and select List-II (Budget allocation : in
the codes given below.
the correct answer using the codes lakh crores)
Assertion (A): Zero-Base Budget
given below the lists. 1. ` 1.38 2. ` 1.69
has been introduced in India.
[Karnataka PSC (Pre) 2016 3. ` 0.63 4. ` 2.82
UPSC (Pre) 2001] Reason (R): Zero-Base Budget
technique involves critical review Code
List-I (a) (b) (c) (d)
of every scheme for which a
(a) Fiscal deficit budgetary provision is made. (A) 4 3 2 1
(b) Budget deficit [UPPCS (Pre) 2002] (B) 1 2 3 4
(c) Revenue deficit Code (C) 4 2 1 3
(d) Primary deficit (D) 3 1 4 2
(A) Both (A) and (R) are true and
Answer Sheet
1. (D) 2. (D) 3. (C) 4. (B) 5. (B) 6. (D) 7. (A) 8. (C) 9. (B) 10. (B)
11. (C) 12. (C) 13. (C) 14. (D) 15. (C) 16. (A) 17. (D) 18. (A) 19. (C) 20. (D)
21. (C) 22. (B) 23. (A) 24. (B) 25. (D) 26. (C) 27. (A)
7. Fiscal Policy
1. Fiscal Policy is concerned with 7. A change in fiscal policy affects the boost economic activity in the
[MPPSC (Pre) 1996] balance of payments through country
(A) the volume of currency that [Karnataka PSC (Pre) 2018 (C) It is government’s intensive
banks should put in the HCS (Pre) 2014] action of financial institutions
economy (A) Only the current account to ensure disbursement of
(B) the policy regarding taxation (B) Only the capital account loans to agriculture and allied
and expenditure (C) Both the current account and sectors to promote greater food
(C) policy for regulating stock capital account production and contain food
(D) the policy for dealing with IMF (D) Neither current account nor inflation
2. Which one of the following is part capital account (D) It is an extreme affirmative
of fiscal policy? [UKPCS (Pre) 2014] 8. Which one of the following action by the government to
was not stipulated in the Fisca pursue its policy of financial
(A) Production policy
Responsibility and Budget inclusion
(B) Tax policy
Management Act 2003? 11. Globalisation does not include
(C) Foreign policy [BPSC (Pre) 2018]
[UPPCS (Pre) 2006
(D) Interest rate policy
Tripura PSC (Pre) 2010] (A) reduction in import duties
3. Fiscal policy means [HCS (Pre) 2004] (B) abolition of import licensing
(A) Elimination of revenue deficit
(A) policy relating to money and by the end of the fiscal year (C) free flow of FDI
banking in a country 2007-08 (D) disinvestment of Public Sector
(B) policy relating to non-banking (B) Non-borrowing by the Central Equity
financial institutions Government from Reserve 12. Consider the following statements.
(C) policy relating to government Bank of India except - under
spending, taxation and 1. The Fiscal Responsibility and
certain circumstances Budget Management (FRBM)
borrowing (C) Elimination of primary deficit Review Committee Report has
(D) policy relating to financial by the end of the fiscal year recommended a debt to GDP
matters of international trade 2008-09 ratio of 60% for the general
4. Which one of the following is NOT (D) Fixing government guarantees (combined) government by
the objective of fiscal policy of in any financial year as a 2023, comprising 40% for the
government of India? percentage of GDP Central Government and 20%
[HCS (Pre) 2014] for the State Government.
9. Fiscal responsibility and Budget
(A) Full employment Management Act was enacted in 2. The Central Government has
(B) Price stability India in the year [UPPCS (Pre) 2009] domestic liabilities of 21%
(C) Regulation of inter-state trade (A) 2007 of GDP as compared to that
(D) Economic growth (B) 2005 of 49% of GDP of the State
5. In India, which one among the (C) 2002 Government.
following formulates the fiscal (D) 2003 3. As per the Constitution of India,
policy? [UPPCS (Mains) 2014] it is mandatory for a State to
10. Which one of the following
(A) Planning Commission take the Central Government’s
statements appropriately describes
(B) Finance Commission consent for raising any
the ‘fiscal stimulus’?
(C) Finance Ministry loan if the former owes any
[Haryana PSC (Pre) 2015
outstanding liabilities to the
(D) Reserve Bank of India UPSC (Pre) 2011]
latter.
6. Which of the following economists, (A) It is a massive investment by the
introduced fiscal policy as a tool government in manufacturing
to rectify the Great Depression of sector to ensure the supply
[UPSC (Pre) 2018]
1929-30? [UKPCS (Pre) 2014] of goods to meet the demand
surge caused by rapid economic (A) Only 1
(A) Prof. Keynes
growth (B) Only 2 and 3
(B) Prof. Pigou
(B) It is an intense affirmative (C) Only 1 and 3
(C) Prof. Marshall
action of the government to (D) 1, 2 and 3
(D) Prof. Crowther
Answer Sheet
1. (B) 2. (B) 3. (C) 4. (C) 5. (C) 6. (A) 7. (C) 8. (C) 9. (D) 10. (B)
11. (D) 12. (C)
8. Public Finance (Tax)

1. Consider the following important 8. Chelliah committee is related to Select the correct answer from the
sources of tax revenue for the [MPPSC (Pre) 1994 codes given below.
Central Government in India. UPSC (Pre) 1995] [UPPCS (Pre) 1998]
1. Union Excise Duty (A) Reforms in direct and indirect (A) 1, 2 and 3
2. Corporation Tax tax systems (B) 2, 3 and 4
3. Income Tax (B) Reforms in Banking system (C) 3, 4 and 5
4. Service Tax (C) Import-Export policy (D) All of the above
Which of the following is the correct (D) None of the above 15. The recommendation of the Kelkar
descending order in terms of Gross 9. Service tax was introduced in India Task Force related to
Tax Revenue? [RAS (Pre) 2016 on the recommendation of [UPPCS (Mains) 2004]
UPSC (Pre) 1995 [BPSC (Pre) 2017] (A) Trade
Orissa PSC (Mains) 2009]
(A) Kelkar Committee (B) Banking
(A) 1, 2, 4, 3 (B) Raja J. Chelliah Committee (C) Taxes
(B) 2, 4, 1, 3 (C) Manmohan Singh Committee (D) Foreign Investment
(C) 2, 3, 1, 4 (D) Yashwant Sinha Committee 16. Kelkar Committee, in its second
(D) 4, 1, 2, 3 (E) None of the above/More than report, has recommended to
2. The largest sources of tax revenue one of the above reduce corporate tax to
to Central Government of India are 10. Corporation tax [UPSC (Pre) 1995] [UPPCS (Pre) 2004]
[UPPCS (Pre) 1995]
(A) is levied and appropriated by (A) 15% (B) 20%
(A) Union excise duties and the states (C) 25% (D) 30%
corporate tax
(B) is levied by the Union and 17. The Kelkar proposals which were
(B) Custom duty and corporate tax collected and appropriated by [UPSC (Pre) 2003]
(C) Union excise duty and custom the states
duty (A) recommendations for reforms
(C) is levied by the Union and in the power sector
(D) Custom duty and income tax shared by Union and the states (B) recommendations for tax
3. From which of the tax following (D) is levied by the Union and reforms
direct taxes gives maximum net belongs to it exclusively
revenue to the Government? (C) guidelines for the privatisation
11. Agricultural Income Tax is assigned of public sector undertakings
[BPSC (Pre) 2005, 1998]
to the State Government by (D) guidelines for reducing
(A) Corporation Tax [UPSC (Pre) 1995] vehicular pollution and the
(B) Income Tax (A) The Finance Commission promotion of CNG use
(C) Wealth Tax (B) The National Development 18. Which of the following statements
(D) Gift Tax Council are true for the Income Tax in
4. Corporation Tax is on (C) The Inter-State Council India?
[RAS/RTS (Pre) 1996] (D) The Constitution of India 1. It is a progressive tax
(A) production of a company 12. Of the following taxes which one is 2. It is a direct tax
(B) sale of goods not levied by State Governments? 3. It is collected by the state
(C) income of a company [UPPCS (Mains) 2008]
Governments
(D) stock of goods (A) Entertainment Tax 4. It is a proportional tax
5. Which of the following is not a (B) State Excise Duty Choose the correct answer from the
direct tax in India? (C) Agricultural Income Tax codes given below.
[UKPCS (Pre) 2011] (D) Corporation Tax [UPPCS (Mains) 2004]
(A) Income Tax 13. Which of the following taxes does Code
(B) Wealth Tax not directly increase the price of a
(C) Estate duty (A) Only 1 is correct
commodity to buyers?
(D) Sales Tax [UPPCS (Pre) 1995] (B) Only 1 and 2 are correct
6. Which of the following are the (A) Income Tax (B) Trade Tax (C) 1, 2 and 3 are correct
indirect tax? [BPSC (Pre) 2002] (C) Import Duty (D) Excise Duty (D) 2, 3 and 4 are correct
(A) Sales tax and Income tax 14. Which among the following are the 19. Which one of the following is
(B) Income tax and Wealth tax sources of revenue for the central correctly matched?
Government? [UPPCS (Mains) 2004]
(C) Sales tax and Excise tax
(D) Income tax and Excise tax 1. Corporate Tax (A) Income Tax - Indirect Tax
7. When was the Wealth tax first 2. Profit from Public Enterprises (B) Custom Duty - Indirect Tax
introduced in India? 3. Sale of National Savings (C) Excise Duty - Highest source of
[MPPSC (Pre) 2005] Certificates tax revenue to the centre
(A) 1991 (B) 1976 4. Loans received from the World (D) Entertainment Tax - Highest
Bank source of tax to revenue states
(C) 1957 (D) 1948
5. Excise duties
20. Which one of the following sets of Income Tax is correct? 34. A redistribution of income in
sources of revenue belongs to the [UPSC (Pre) 1999] a country can be best brought
Union Government alone? (A) The Union levies, collects and through [UPSC (Pre) 1997]
[UPPCS (Mains) 2005] distributes the proceeds of (A) Progressive taxation combined
(A) Gift tax, Holding tax income tax between itself and with progressive expenditure
(B) Sales tax, Income tax the states (B) Progressive taxation combined
(C) Custom duties, Corporation tax (B) The Union levies, collects with regressive expenditure
(D) Wealth tax, Land revenue and keeps all the proceeds of (C) Regressive taxation combined
21. Which one of the following is not income tax to itself with regressive expenditure
related with income from corporate (C) The Union levies and collects (D) Regressive taxation combined
sector in India?[UPPCS (Mains) 2005] the tax, but all the proceeds are with progressive expenditure
(A) Fringe Benefit tax distributed among the states 35. The Minimum Alternate Tax (MAT)
(B) Minimum alternate tax (D) Only the surcharge levied on was introduced in the Budget of the
income tax is shared between Government of India for the year
(C) Capital Gain tax
the Union and the States [UPSC (Pre) 1997]
(D) Tax on company profit
28. The tax on Import and Export is (A) 1991-92 (B) 1995-96
22. Value Added Tax was first known as [UPPCS (Pre) 2006]
introduced in India in (C) 1993-94 (D) 1996-97
(A) Income Tax 36. Consider the following statements.
(B) Trade Tax In India, Stamp duties on financial
(A) 2007 (B) 2006
(C) Custom Duty transactions are
(C) 2005 (D) 2008
(D) None of the above 1. Levied and collected by the
23. Which among the following are
true for Central Sales Tax? 29. Who had suggested an imposition state
of ‘expenditure tax’ in India for the 2. Appropriated by the Union
1. It is levied on interstate trade.
first time? [UPPCS (Pre) 2010] Government
2. It is levied in the Union
Territories. (A) Kalecki Which of these statement(s) is/are
3. It is levied in the SEZ. (B) Kaldor correct? [UPSC (Pre) 2003]
Select the correct answer from the (C) R.J. Chelliah (A) Only 1
codes given below. (D) Gautam Mathur (B) Only 2
[UPPCS (Mains) 2010] 30. The main source of revenue for (C) Both 1 and 2
(A) Only 1 and 2 (B) Only 2 the National Highway Authority of (D) Neither 1 nor 2
(C) Only 2 and 3 (D) All of these India is [UPPCS (Pre) 2011] 37. Which of the following tax is
24. The objective of SEZ is (A) Cess levied by Union but collected and
[UPPCS (Pre) 2014] (B) Foreign assistance appropriated by States?
(C) Market borrowings [BPSC (Pre) 2017]
(A) Promotion of Goods and
Services (D) Budgetary support of Union (A) Stamp Duties
(B) Promotion of Regional Trade Government (B) Passenger & Goods Tax
(C) Promotion of MSME’s 31. MODVAT is related to (C) Taxes on Newspapers
(D) Promotion of Government [UPPCS (Pre) 2011] (D) None of the above/More than
Schemes (A) Excise Duty one of the above
25. Which of the following taxes is (B) Value Added Tax (VAT) 38. Service Tax in India was introduced
levied and collected by the Union (C) Wealth Tax in the year [BPSC (Pre) 2015]
but distributed between Union and (D) Income Tax (A) 1994-95 (B) 1996-97
States? [UPPCS (Pre) 2004] 32. Which one of the following is not a (C) 1998-99 (D) 1991-92
(A) Corporation Tax tax/duty levied by the Government 39. Consider the following taxes.
(B) Tax on income other than on of India? [UPPCS (Pre) 2013] 1. Sales Tax
agricultural income (A) Service Tax 2. Income Tax
(C) Tax on railway fares and freight (B) Education Cess 3. Corporate Tax
(D) Customs (C) Custom Duty 4. Entertainment Tax
26. Which tax is levied and collected (D) Toll Tax Which of the above taxes are levied
by the Union Government but by the state government and not
33. Consider the following taxes.
distributed between the Union and shared by central government?
the States? [BPSC (Pre) 2001] 1. Corporation Tax [HPPSC (Pre) 2010]
(A) Import duty 2. Customs Duty (A) Only 1 and 2 (B) Only 2 and 3
(B) Central Excise duty 3. Wealth Tax (C) Only 3 and 4 (D) Only 1 and 4
(C) Export duty 4. Excise Duty 40. Consider the following in relation
(D) None of the above Which of these is/are indirect with Corporate tax.
27. Which one of the following taxes? [UPSC (Pre) 2001] 1. Total turnover of the company
statements regarding the levying, (A) Only 1 (B) 2 and 4 2. Profit after distribution of
collecting and distribution of (C) 1 and 3 (D) 2 and 3 dividend
3. Profit before distribution of 2. Collected by the States (C) Petroleum products
dividend Which of the statement(s) given (D) Ghee
4. Capital employed in the above is/are correct? 46. Direct Tax Code in India is related
company [UPSC (Pre) 2010] to which of the following?
Which one of the above is basis of (A) Only 1 [UPPCS (Pre) 2018]
corporate tax? [HPPSC (Pre) 2010] (B) Both 1 and 2 (A) Sales Tax (B) Income Tax
(A) 1 alone (B) 2 alone (C) Neither 1 nor 2 (C) Excise Tax (D) Service Tax
(C) 3 alone (D) 4 alone (D) Only 2 47. Which of the following taxes is
41. Find the tax which is direct tax 44. Consider the following actions by levied by the Gram Panchayats?
among the following. the government. [UPPCS (Pre) 2018]
[HCS (Pre) 2014] 1. Cutting the tax rates (A) Sales Tax
(A) House Tax 2. Increasing the government (B) Land Revenue Tax
(B) Service Tax spending (C) Tax on local fairs
(C) Entertainment Tax 3. Abolishing the subsidies (D) None of the above
(D) Value Added Tax In the context of economic 48. Consider the following items.
42. The most important source of recession, which of the above 1. Cereal grains hulled
revenue for Indian Government is actions can be considered a part of 2. Chicken eggs cooked
[BPSC (Pre) 1992, 1995, 1996] the ‘fiscal stimulus’ package? 3. Fish processed and canned
(A) Direct Tax [UPSC (Pre) 2010]
4. Newspapers containing
(B) Indirect Tax (A) 1 and 2 (B) Only 2 advertising material
(C) Deficit financing (C) 1 and 3 (D) 1, 2 and 3 Which of the above item is/are
(D) Loans from RBI 45. What has been kept under the exempted under GST (Goods and
43. Consider the following statements. purview of Goods and Services Tax Service Tax)? [UPSC (Pre) 2018]
In India, taxes on transactions (GST)? [RAS/RTS (Pre) 2018] (A) Only 1
in Stock exchanges and Futures (A) Alcohol for human (B) Only 2 and 3
Markets are consumption (C) Only 1, 2 and 4
1. Levied by the union (B) Electricity (D) 1, 2, 3 and 4
Answer Sheet
1. (C) 2. (A) 3. (A) 4. (C) 5. (D) 6. (C) 7. (C) 8. (A) 9. (B) 10. (D)
11. (D) 12. (D) 13. (A) 14. (D) 15. (C) 16. (D) 17. (B) 18. (B) 19. (B) 20. (C)
21. (B) 22. (C) 23. (A) 24. (A) 25. (B) 26. (B) 27. (A) 28. (C) 29. (B) 30. (A)
31. (B) 32. (D) 33. (B) 34. (B) 35. (D) 36. (D) 37. (A) 38. (A) 39. (D) 40. (C)
41. (A) 42. (A) 43. (A) 44. (A) 45. (D) 46. (B) 47. (C) 48. (A)
9. Finance Commission
1. According to the Tenth Finance 3. The distribution of finance between (A) ` 44,000 crore
Commission the share of resources centre and states is done on the (B) ` 1,64,892 crore
to be transferred to states from the recommendation of (C) ` 3,18,581 crore
divisible pool will be [UPPCS (Pre) 2007]
[UPPCS (Pre) 1995]
(D) ` 1,07,552 crore
(A) Finance Ministry
(A) 29% 6. With reference to the Finance
(B) Finance Commission
(B) 42% Commission of India, which of the
(C) Reserve Bank of India following statement is correct?
(C) 47.5% (D) NABARD [UPSC (Pre) 2011]
(D) 25% 4. According to the 14th Finance
2. The Finance Commission is (A) It encourage the inflow
Commission, the percentage share of foreign capital for
primarily concerned with of States in the net proceeds of
recommending to the President infrastructure development
the shareable Central tax revenue
about [UPPCS (Pre) 2006] should be [UKPCS (Pre) 2016]
(B) It facilitates the proper
(A) the principle government distribution of finances among
(A) 32% (B) 35% the public sector undertakings
grants-in-aid to be given to the (C) 40% (D) 42%
states (C) It ensures transparency in
5. As per 13th Finance Commission financial administration
(B) distributing the net proceeds Recommendations during 2010-15
of the taxes between the centre (D) None of the statements (A), (B)
transfer to the states in the form of
and the states and (C) given is correct in this
‘grant-in-aid’ are expected to be
(C) Neither (A) nor (B) context
[HPPSC (Pre) 2011]
(D) Both (A) and (B)
7. Which of the following is/are 2. A design for the creation of codes given below. [UPSC (Pre) 2012]
among the noticeable features lakhs of jobs in the next ten (A) Only 1 (B) 2 and 3
of the recommendations of the years in consonance with (C) 1 and 3 (D) 1, 2 and 3
Thirteenth Finance Commission? India’s demographic dividend. 8. The Finance Commission is
1. A design for the goods and 3. Development of a specified constituted for a period of
services tax and a compensation share of central taxes to local [UPPCS (Mains) 2010]
package linked to adherence to bodies as grants. (A) 4 years (B) 5 years
the proposed design. Select the correct answer using the (C) 7 years (D) 10 years
Answer Sheet
1. (A) 2. (D) 3. (B) 4. (D) 5. (C) 6. (D) 7. (A) 8. (B)
10. Stock Exchange

1. Which one of the following is (A) State Bank of India (B) an investor who expects the
irrelevant in context of share (B) LIC and GIC prices of particular shares to
market? [MPPCS (Pre) 2012] (C) IDBI rise
(A) Sensex (B) BSE (D) All of the above (C) a share holder on bondholder
(C) Nifty (D) SAP 7. Which of the following is correctly who has an investor in a
2. Consider the following statements. matched? [UPPCS (Pre) 2004] company financial or otherwise
1. Sensex is based on 50 of the (A) Bombay Stock Exchange - (D) any lender whether by making
most important stocks available SENSEX a loan or buying a bond
on the Bombay Stock Exchange (B) National Stock Exchange - 12. Which one of the following
(BSE). NYSE organisation is the main regulator
2. For calculating the Sensex, (C) New York Stock Exchange - of stock markets in India?
all the stock are assigned [UPPCS (Mains) 2012
NIFTY
proportional weightage. UPPCS (Pre) 1996]
(D) London Stock Exchange -
3. New York Stock Exchange is NIKKEI (A) Controller of Capital of Stocks
the oldest Stock Exchange in 8. Which of the following pairs are (B) Ministry of Finance
the World. correctly matched? (C) Indian Company Law Board
Which of the statement(s) given 1. Dow Jones - New York (D) Security and Exchange Board
above is/are correct? of India
2. Hang-Seng - Seoul
[UPSC (Pre) 2005]
3. FTSE-100 - London 13. How many companies are included
(A) Only 2 (B) 1 and 3 in BSE-GREENEX?
Select the correct answer using the [UPPCS (Pre) 2015]
(C) 2 and 3 (D) None of these codes given below. [UPSC (Pre) 1998]
3. The head office of National Stock (A) 20 (B) 40
(A) 1, 2 and 3 (B) 2 and 3
Exchange of India is located at (C) 50 (D) 100
(C) 1 and 2 (D) 1 and 3
[MPPSC (Pre) 1996] 14. The Volatility in the Indian Share
9. The expressions ‘Bulls’ and Market is due to
(A) Mumbai (B) Calcutta
‘Bears’ are related to which of the
(C) Delhi (D) Ahmedabad following? [MPPSC (Pre) 1998]
1. Inflow and outflow of foreign
4. Which of the following statements funds
(A) Income Tax Department
in relation to Bombay Stock 2. Fluctuations in foreign capital
(B) Currency Market market
Exchange is correct?
[UPPCS (Pre) 2004]
(C) Stock Exchange 3. Changes in the monetary policy
(D) Cattle Fair
(A) It is the oldest stock exchange Which of the above mentioned
of India 10. Words ‘Bull’ and ‘Bear’ are causes are correct?
(B) It is known by the name of Dalal associated with which branch of [RAS/RTS (Pre) 2013]
street commercial activity?
(A) 1 and 2
[UPPCS (Pre) 2002]
(C) It’s share index is known by the (B) 1 and 3
name of Sensex (A) Foreign trade
(C) 1, 2 and 3
(D) All of the above (B) Share Market
(D) 2 and 3
5. Sensex includes the following (C) Banking
15. A rise in ‘Sensex’ means
securities. [UPPCS (Mains) 2005 (D) Manufacturing
[UPSC (Pre) 2000]
MPPCS (Pre) 2009] 11. In the parlance of financial
(A) a rise prices of shares of all
(A) 25 (B) 40 investment, the term ‘bear’ denotes
companies registered with
[UPSC (Pre) 2010]
(C) 30 (D) 35 Bombay Stock Exchange
6. The promoter of National Stock (A) an investor who feels that the (B) a rise in prices of shares of all
Exchange of India is price of a particular security is companies registered with
[UPPCS (Pre) 2013]
going to fall National Stock Exchange
(C) an overall rise in price of (A) Only 1 (B) Japanese name of country’s
shares of group of companies (B) 2 and 3 Planning Commission
registered with Bombay Stock (C) Only 2 (C) Name of Japanese Central Bank
Exchange (D) 1, 2 and 3 (D) Share Price Index of Tokyo
(D) a rise in prices of shares of all 18. Which of the following is not a Stock Exchange
companies belonging to a speculator in Stock Exchange? 22. Blue Chip means
group of companies registered [UPPCS (Pre) 2004] [UPPCS (Mains) 2008]
with Bombay Stock Exchange (A) Share guaranteed by the
(A) Bull (B) Bear
16. What is MCX-SX? [UPSC (Pre) 2009] (C) Broker (D) Stag government
(A) A kind of Super Computer 19. Red Herring Prospectus is a (B) Share listed in Stock Exchange
(B) Title of Moon Impact Probe [UPPCS (Mains) 2004] (C) Share giving consistent high
(C) Stock Exchange (A) Course Syllabi of an rate of return
(D) Nuclear powered submarine international university (D) None of the above
17. Under which of the following (B) Place where herring fish is 23. ‘Dalal Street’ is situated at
circumstances may ‘Capital gains’ found [Sikkim PSC (Pre) 2012]
arise? (C) Plan of action of leftist militants (A) New Delhi
1. When there is an increase in the (D) Document to raise capital by a (B) London
sales of a product. company (C) Mumbai
2. When there is a natural increase 20. Insider trading is related to (D) Paris
in the value of the property [UPPCS (Pre) 2007] 24. With what subject is Raghuram
owned. Rajan Committee connected?
(A) Share market
3. When you purchase a painting [UPPCS (Mains) 2007]
(B) Horse racing
and there is a growth in its
(C) Taxation (A) Austerity in Government
value due to increase in its
(D) International trade Expenditure
popularity.
21. What is ‘NIKKEI’? [UPPCS (Pre) 2008] (B) Financial sector reforms
Select the correct answer using the
(A) Foreign Exchange Market of (C) Export-Import balance
codes given below. [UPSC (Pre) 2012]
Japan (D) Rising prices
Answer Sheet
1. (D) 2. (A) 3. (A) 4. (D) 5. (C) 6. (D) 7. (A) 8. (D) 9. (C) 10. (B)
11. (A) 12. (D) 13. (A) 14. (C) 15. (C) 16. (C) 17. (B) 18. (C) 19. (D) 20. (A)
21. (D) 22. (C) 23. (C) 24. (B)
11. Security Market and Insurance

1. Capital Market means 4. SEBI is a [HCS (Pre) 2014] (C) Insurance Regulatory and
[UPPCS (Pre) 2008] (A) Statutory Body Development Authority
(A) Share Market (B) Advisory Body (D) General Insurance Corporation
(B) Commodity Market (C) Constitutional Body 8. IRDA regulates [UPPCS (Pre) 2007]
(C) Money Market (D) Non-statutory Body (A) Banking Companies
(D) All of the above 5. To prevent recurrence of scams (B) Insurance Companies
2. SEBI was established in the year in Indian capital market the (C) Retail Trade
[HPPSC (Pre) 2014]
Government of India has assigned
regulatory power to (D) None of the above
(A) 1988 [UPPCS (Pre) 2008] 9. The ‘Gilt edge’ market deals in
(B) 1990 (A) SEBI (B) RBI [UPSC (Pre) 2000
(C) 1991 UPPCS (Pre) 2002, 2008]
(C) SBI (D) ICICI
(D) 1985 6. The Insurance Regulatory and (A) Worn and torn currency notes
3. Which one of the following is Development Authority was set up (B) Bullion
related to the regulation of stock in India on [UPPCS (Pre) 2008] (C) Govt. Securities
exchange operations? (A) April 2000 (B) April 2001 (D) Corporate Bonds
[UPPCS (Mains) 2004] (C) April 2002 (D) April 2003 10. The Word ‘Actuaries’ is related to
(A) SAIL 7. For regulation of the Insurance [UPPCS (Pre) 2008]
(B) SEBI Trade in the country the (A) Banking
(C) SIDBI Government has formed (B) Insurance
(D) Stock holding corporation of [UPPCS (Pre) 2002]
(C) Share Market
India (A) SEBI
(B) Reserve Bank of India
11. Which one of the following is 15. The financial instrument, through Choose the correct answer from the
different from the others from the which Indian companies can raise codes given below.
point of view of ownership? money from overseas market in [UPPCS (Mains) 2004]
[UPPCS (Pre) 2011] Rupees, is known as (A) 1, 2, 4, 3 (B) 2, 1, 3, 4
(A) LIC Policy [UKPCS (Pre) 2016] (C) 1, 2, 3, 4 (D) 1, 3, 4, 2
(B) Bank Fixed Deposit (A) RBI Bonds 18. Which among the following agency
(C) Kisan Vikas Patra (B) Gold Bonds regulates the Mutual Funds in
(D) Debenture of a company (C) Masala Bonds India? [UPPCS (Mains) 2013]
12. Debenture holders of a company (D) Overseas Bonds (A) SEBI
are the [UPSC (Pre) 2003] 16. Participatory Notes (PNs) are (B) National Stock Exchange
(A) Shareholders associated with which one of the (C) RBI
(B) Creditors following? [UPPCS (Pre) 2007 (D) Indian Bank Association
(C) Debtors HPPSC (Pre) 2011]
19. Which is credit rating agency in
(D) Directors (A) Consolidated Fund of India India? [UPPCS (Mains) 2008]
13. Private Sector Mutual Funds in (B) Foreign Institutional Investors (A) CRISIL (B) CARE
India were permitted in (C) United Nations Development (C) ICRA (D) All of these
[UPPCS (Pre) 2011] Programme 20. The most volatile part of the
(A) 1964 (B) 1993 (D) Kyoto Protocol Organised Money Market in India
(C) 1994 (D) 2001 17. Arrange the following in ascending is [RAS (Pre) 2018]
14. India Brand Equity Fund was order, in relation to their (A) Government Security Market
established in [UPPCS (Pre) 1997]
establishment. (B) Commercial Bill Market
(A) 1992 (B) 1995 1. LIC 2. IDBI (C) Call Money Market
(C) 1996 (D) 1997 3. SEBI 4. UTI (D) Certificate of Deposit Market
Answer Sheet
1. (A) 2. (A) 3. (B) 4. (A) 5. (A) 6. (A) 7. (C) 8. (B) 9. (C) 10. (B)
11. (D) 12. (B) 13. (B) 14. (C) 15. (C) 16. (B) 17. (A) 18. (A) 19. (D) 20. (C)
12. Money and Banking

1. The Apex bank for providing 5. Which is the first Private Sector 9. Since the economic reforms were
Agricultural Refinance in India is Bank in India to use Software launched in India, which one of
[UPPCS (Mains) 2004 Robotics? [HCS (Pre) 2014] the following statements is true
UKPCS (Pre) 2016] (A) ICICI Bank for Statutory Liquidity Ratio (SLR)
(A) RBI (B) NABARD (B) HDFC Bank and Cash Reserve Ratio (CRR) of
(C) LDB (D) SBI (C) SBI the commercial banks?
[UPPCS (Pre) 1999]
2. NABARD is related with (D) UTI Bank
[MPPCS 2015] 6. The slogan ‘Pure Banking, Nothing (A) Both SLR and CRR have been
(A) National Agriculture else’ is raised by [HCS (Pre) 2014]
raised
Development Institution (A) ICICI Bank (B) SLR has been reduced but CRR
(B) National Rural Development has been raised
(B) HDFC Bank
Institution (C) SBI (C) SLR has been increased but
(C) National Bank for Agriculture CRR has been reduced
(D) UTI Bank
and Rural Development (D) Both SLR and CRR have been
7. Narsimhan Committee was related
(D) National Financial Institution reduced
to which of following reforms?
3. When was the NABARD formed? [HCS (Pre) 2014]
10. The Narsimhan Committee for
[MPPCS 2005] financial sector reforms has
(A) High education reforms
(A) 1992 (B) 1982 suggested reduction in
(B) Tax structure reforms [UPSC (Pre) 1995]
(C) 1962 (D) 1952 (C) Banking structure reforms
4. Which one of the following links all (A) SLR and CRR
(D) Planning implementation
the ATMs in India? (B) SLR, CRR and Priority Sector
reforms
[UPSC (Pre) 2018] Financing
8. Which of the following committee
(A) Indian Bank’s Association (C) SLR and Financing to Capital
examined and suggested financial
(B) National Securities Depository goods sector
sector reforms? [UPSC (Pre) 2001]
Limited (D) CRR, Priority Sector Financing
(A) Abid Hussain Committee
(C) National Payments Corporation and Financing to capital goods
(B) Bhagwati Committee sector
of India (C) Chelliah Committee
(D) Reserve Bank of India 11. Opening the saving bank account
(D) Narsimhan Committee for a minor girl will be called as
which of the following in Banking to banking and other financial (A) State Bank of India
terminology? [HCS (Pre) 2014] sector (B) Reserve Bank of India
(A) Retail Banking (C) Banks underwrite the securities (C) Exim Bank of India
(B) Merchant Banking issued by public or private (D) Union Bank of India
(C) Social Banking organisations 24. ..... is the official minimum rate at
(D) Corporate Banking (D) Accepting deposits from the which the Central Bank of a country
public is prepared to rediscount approved
12. Consider the following statements.
17. When the Reserve Bank of India bills held by the commercial banks.
1. The repo rate is the rate at
was established? [UKPCS (Pre) 2011] [HCS (Pre) 2014]
which other banks borrow from
the Reserve Bank of India. (A) 1920 (B) 1930 (A) Repo rate
2. A value of ‘0’ for Gini Co- (C) 1935 (D) 1940 (B) Bank rate
efficient in country implies that 18. Which of the following Banks is the (C) Prime lending rate
there is perfectly equal income Central Bank of India? (D) Reverse repo rate
for everyone in its population. [MPPCS (Pre) 2012] 25. The Bank rate is the rate at which
Which of the statement(s) given (A) State Bank of India [UPPCS (Mains) 2008, 2011
above is/are correct? (B) Bank of India BPSC (Pre) 2017
[HPPSC (Pre) 2011] (C) Union Bank of India UPPCS (Pre) 2009]
(A) Only 1 (D) Reserve Bank of India (A) a bank lends to the public
(B) Only 2 19. The headquarters of RBI is situated (B) the RBI lends to the public
(C) Both 1 and 2 at [UPPSC (Pre) 2010] (C) the RBI gives credit to the
(D) Neither 1 nor 2 (A) Delhi (B) Kolkata commercial banks
13. Tarapore Committee was (C) Mumbai (D) Chennai (D) the Government of India lends
associated with which one of the to other countries
20. Consider the following statements
following? [HPPSC (Pre) 2016] regarding Reserve Bank of India. 26. Consider the following statements.
(A) Special Economic Zones 1. It is a banks to the Central 1. Bank rate is the rate of interest
(B) Full capital account Government. which RBI charges its clients on
convertibility their short-term borrowing.
2. It formulates and administer
(C) Foreign exchange reserves monetary policy. 2. Repo rate is the rate of interest
(D) Effect of oil prices on the Indian which RBI charges its clients on
3. It acts as an agent of
economy their long-term borrowing.
government in respect of India.
14. The question of full capital account Which of the statement(s) given
4. It handles the borrowing
convertibility of Indian was above is/are correct?
programme of Government of
explained by the committee known [Tamil Nadu PSC (Pre) 2017
India.
as [UPPCS (Pre) 2007] BPSC (Pre) 2015]
Which of these statements are
(A) Vaghul Committee (A) Only 1
(B) Rangarajan Committee (B) Only 2
(A) 1 and 2 (B) 2, 3 and 4
(C) Tarapore Committee II (C) Both 1 and 2
(C) 1, 2, 3 and 4 (D) 3 and 4
(D) Hashim Committee (D) Neither 1 nor 2
15. Study the following statements statements is not correct? 27. The interest rate at which the
with regard to Reserve Bank of [UPPCS (Mains) 2011]
Reserve Bank of India lends to
India and select your answer from Commercial Banks in the short-
(A) RBI is the Central Bank of the term to maintain liquidity is known
the codes given below. country
[UPPCS (Pre) 2003] as [Haryana PSC (Pre) 2017
(B) RBI is the banker of the Central UPPCS (Mains) 2009]
1. It is the Apex Bank. and State Government
2. It regulates the money supply. (A) Interest rate
(C) RBI is the custodian of the
3. It gives loan to the business country’s Foreign Exchange (B) Repo rate
houses. Reserve (C) Bank rate
4. It supervises the operations of (D) RBI was established in 1949 (D) Reverse repo rate
NABARD. 22. Which of the following is not a 28. In order to control credit, Reserve
Code function of Reserve Bank of India? Bank of India should
(A) 1 and 2 (B) 2 and 4 [UKPCS (Pre) 2014] [HCS (Pre) 2014
(C) 1, 2 and 3 (D) 1, 2 and 4 (A) Regulation of currency West Bengal PSC (Pre) 2016]
16. Which among the following is a (B) Regulation of foreign trade (A) increase CRR and decrease
function of the Reserve Bank of (C) Regulation of credit Bank rate
India? [HCS (Pre) 2014] (D) Custody and management of (B) decrease CRR and reduce Bank
(A) Bank issues the letter of credit country’s foreign exchange rate
to their customers certifying reserved (C) increase CRR and increase
their creditability 23. Who is the ‘lender of the last resort’ Bank rate
(B) Collecting and compilation of in the banking structure of India? (D) reduce CRR and increase Bank
statistical information relating [HCS (Pre) 2014] rate
29. In India ‘Money and Credit’ is which of the following? standard and .....’. What is the
controlled by the [HCS (Pre) 2014] fourth function of money indicated
[UPPCS (Mains) 2010] (A) Banking habits of the people in this popular phrase?
(A) Central Bank of India (B) Cash reserve ratio [HCS (Pre) 2014]
(B) Industrial Development Bank (C) Credit policy of the central (A) A stock
of India bank (B) A flow
(C) Reserve Bank of India (D) All of the above (C) A store
(D) State Bank of India 36. Number of times a unit of money (D) A payment
30. When the Reserve Bank of India changes hands in the course of a 43. Which of the following measure of
announces an increase of the Cash year is called [HCS (Pre) 2014] the high power money Supply (H)
Reserve Ratio (CRR), what does it (A) Supply of money has been used by RBI in India?
mean? [UPSC (Pre) 2010] (B) Purchasing power of money [HCS (Pre) 2014]
(A) The commercial banks will (C) Velocity of money (A) Currency held by public +
have less money to lend (D) Value of money other deposits with the RBI
(B) The Reserve Bank of India will 37. Which among the following is not (B) Cash reserve of the commercial
have less money to lend correct? [HCS (Pre) 2014] banks + other deposits with the
(C) The Union Government will RBI
(A) Floating exchange rate system
have less money to lend works on market mechanism (C) Currency held by the public +
(D) The commercial banks will Cash reserves of the commercial
(B) Floating exchange rate breeds
have more money to lend banks + Other deposit with the
uncertainties and speculation
31. The lowering of Bank Rate by the RBI
(C) Economic and political factors
Reserve Bank of India leads to (D) Currency held by the public
and value judgments influence
[UPSC (Pre) 2010] + Cash reserves of the
the choice of the exchange rate
commercial banks + Time
(A) more liquidity in the market system
deposits of commercial banks
(B) less liquidity in the market (D) The system of floating exchange + Other deposits with the RBI
(C) no change in the liquidity in the rate requires comprehensive
government intervention 44. In India, M3 includes
market
(D) mobilisation of more deposits 38. Monetary policy is implemented by
..... in India. (A) time deposits with banks
by commercial banks [UPPCS (Pre) 2006
HCS (Pre) 2014] (B) demand deposits with banks
32. A proportion of total deposits and
reserves of the commercial banks (A) The Ministry of Finance (C) currency with the public
deposited with the Reserve Bank of (B) The Parliament (D) All of the above
India is called [MPPCS (Pre) 2008] (C) Planning Commission 45. The sum of which of the following
(A) Balance of payment (D) Reserve Bank of India constitutes Broad Money in India?
(B) Bank Guarantee 39. One amongst the following take 1. Currency with public
(C) Caution Money the decision about the monetary 2. Demand deposits with banks
(D) Cash Reserve Ratio policy of India. [RAS (Pre) 2010] 3. Time deposits with banks
33. An increase in CRR by the Reserve (A) Finance Minister of India 4. Other deposits with RBI
Bank of India results in (B) Reserve Bank of India Choose the correct answer using
[UPPSC (Pre) 2010] (C) Prime Minister of India the codes given below.
(A) decrease in debt of the [UPSC (Pre) 1997]
(D) International Monetary Fund
government 40. Which one of the following is not (A) 1 and 2
(B) reduction in liquidity in the an instrument of selective credit (B) 1, 2 and 3
economy control in India? [UPSC (Pre) 1995] (C) 1, 2, 3 and 4
(C) attracting more FDI in the (A) Regulation of consumer credit (D) 1, 2 and 4
country (B) Rationing of credit 46. When the exchange rate changes
(D) more flow of credit to desired (C) Margin requirements from 1 $ = 60 to 1 $ = 58, it means
sector (D) Variable cost reserve ratios 1. Rupee value has appreciated
34. Which one of the following 41. Which one of the following is not 2. Dollar value has depreciated
statement is correct regarding an objective of Monetary policy? 3. Rupee value has depreciated
increase in the cash reserve ratio in [UPPCS (Mains) 2011] 4. Dollar value has appreciated
India? [Punjab PSC (Pre) 2017
(A) Price Stability
UPPCS (Mains) 2004]
(B) Economic Stability above is/are correct?
(A)It increases credit creation [Karnataka PSC (Pre) 2017
(C) Equitable distribution of Indian
(B)It reduces credit creation UKPCS (Pre) 2014]
Assets
(C)It does not affect credit (A) 1 and 2 are correct
(D) Foreign Exchange Rate
(D)It denotes liberal monetary Stability (B) 2 and 3 are correct
policy (C) 1 and 4 are correct
42. ‘Money is a matter of functions
35. Credit creation power of the four, a medium, a measure a (D) 2 and 4 are correct
commercial banks gets limited by
47. The Indian rupee was made (A) The Banking Ombudsman is 3. Borrowing by the government
convertible into which of the appointed by the Reserve Bank from the Central Bank.
following accounts since March of India 4. Sale of government Securities
1993? [UKPCS (Pre) 2014] (B) The Banking Ombudsman to the public by the Central
(A) Capital Account can consider complaints from Bank.
(B) Current Account non-resident Indians having Select the correct answer using the
(C) Both (A) and (B) accounts in India codes given below. [UPSC (Pre) 2012]
(D) Revenue Account (C) The order passed by the (A) 1, 2, 3 and 4 (B) 2 and 4
48. Indian rupee had been made fully Banking Ombudsman are final (C) 1 and 3 (D) 1, 2 and 3
convertible on [UPPCS (Pre) 1995] and binding on the parties 59. The basic aim of Lead Bank Scheme
concerned is that
(A) current account on March 1, [UPSC (Pre) 2012]
1993 (D) The service provided by the
(A) big banks should try to open
Banking Ombudsman is free
(B) current account in August, 1994 offices in each district
55. Consider the following statements. (B) there should be stiff
(C) capital account in August, 1994
(D) current account in April, 1995 The function of commercial banks competition among the various
in India includes nationalised banks
49. Convertibility of the rupee implies
[BPSC (Pre) 2015]
1. Purchase and sale of shares (C) individual banks should adopt
and securities on behalf of particular districts for intensive
(A) being able to convert rupee
customers. development
notes into gold
2. Acting as executors and (D) all the banks should make
(B) freely permitting the
trustees of wills. intensive efforts to mobile
conversion of rupee to other
major currencies and vice-versa Which of the statement(s) given deposits
above is/are correct? 60. Consider the following liquid
(C) allowing the value of the rupee
[UPSC (Pre) 2010] assets.
to be fixed by market forces
(D) developing an international (A) Only 1 1. Demand deposits with the
market of currencies in India (B) Only 2 banks
50. Which of the following is/are (C) Both 1 and 2 2. Time deposits with banks
treated as artificial currency? (D) Neither 1 nor 2 3. Savings deposits with banks
[HCS (Pre) 2014] 56. Which of the following terms 4. Currency
(A) ADR indicates a mechanism used by The correct sequence of these
(B) SDR commercial banks for providing assets in the decreasing order of
credit to the government? liquidity is [UPSC (Pre) 2013]
(C) GDR
[UPSC (Pre) 2010] (A) 1, 4, 3, 2 (B) 4, 3, 2, 1
(D) Both ADR and GDR
(A) Cash Credit Ratio (C) 2, 3, 1, 4 (D) 4, 1, 3, 2
51. The one rupee Indian note bears
(B) Debt Service Obligation 61. In the context of Indian economy,
the signature of [BPSC (Pre) 2008
UKPCS (Mains) 2011]
(C) Liquidity Adjustment Facility ‘Open Market Operations’ refers to
(A) Governor, Reserve Bank of (D) Statutory Liquidity Ratio [UPPCS (Pre) 2010
India 57. Consider the following actions UPSC (Pre) 2013]
(B) Secretary, Ministry of Finance which the government can take (A) borrowing by scheduled banks
(C) Finance Minister 1. Devaluing the domestic from the RBI
(D) None of the above currency. (B) lending by commercial banks to
2. Reduction in the export industry and trade
52. In which year the export-import
subsidy. (C) purchases and sale of
(EXIM) Bank in India was set up?
[UKPCS (Pre) 2011]
3. Adopting suitable policies government securities by the
which attract greater FDI and RBI
(A) 1980
more funds from FIIS. (D) None of the above
(B) 1982
(C) 1981 Which of the above action/actions 62. Priority Sector lending by banks in
can help in reducing the current India constitutes the lending to
(D) 1989
accounts deficit? [UPSC (Pre) 2011] [UPSC (Pre) 2013]
53. In India, the interest rate on savings
(A) 1 and 2 (B) 2 and 3 (A) Agriculture
accounts in all the nationalised
commercial banks is fixed by (C) Only 3 (D) 1 and 3 (B) Micro and small enterprises
[UPSC (Pre) 2010] 58. Which of the following measures (C) Weaker sections
(A) Union Ministry of Finance would result in an increase in the (D) All of the above
money supply in the economy? 63. Which of the following grants/
(B) Union Finance Commission
(C) Indian Bank’s Association 1. Purchase of government grant direct credit assistance to
securities from the public by rural households?
(D) Banks itself
the Central Banks. 1. Regional Rural Banks
54. With reference to the institution 2. Deposit of currency in
of Banking Ombudsman in India, 2. National Bank for Agriculture
commercial banks by the and Rural Development
which one of the statements is not public.
correct? [UPSC (Pre) 2010] 3. Land Development Banks
Select the correct answer using the (B) Only 2 (B) Residual Savings
codes given below. (C) Both 1 and 2 (C) Voluntary Savings
[UPSC (Pre) 2013] (D) Neither 1 nor 2 (D) Employer’s Savings
(A) 1 and 2 (B) Only 2 69. The largest commercial bank of 76. Which one of the following
(C) 1 and 3 (D) All of these India is [UPPCS (Mains) 2004 statements about foreign exchange
64. When was the first Regional Rural UPPCS (Pre) 2005 reserves of India is not true?
Bank formed? [MPPCS (Pre) 2005] MPPCS (Pre) 2016] [UPPCS (Pre) 2003]
(A) 1977 (B) 1976 (A) NABARD (A) It includes foreign currency
(C) 1974 (D) 1975 (B) State Bank of India assets and gold holdings of
65. Land Development Bank provides (C) ICICI Reserve Bank of India
loan to farmers for [RAS (Pre) 2000] (D) Union Bank of India (B) It is maintained with the
(A) short term 70. In which year did the Government Reserve Bank of India
(B) medium term of India Nationalised 14 major (C) Special drawing rights are not
private banks? [UPPCS (Pre) 2007 included in it
(C) long term
MPPCS (Pre) 2014] (D) Presently foreign exchange
(D) only for land improvement
(A) 1968 (B) 1970 situation is satisfactory in India
66. With reference to the Non-banking
(C) 1969 (D) 1965 77. Rural Infrastructure Development
Financial Companies (NBFCs)
71. Reserve Bank of India issues Fund is being financed by
in India. Consider the following
statements. currency notes against which of the [UPPCS (Pre) 2004, 2014
following? [MPPCS (Pre) 2012] UPPCS (Mains) 2009, 2013]
1. They cannot engage in the
acquisition of securities issued (A) Gold (A)NABARD
by the government. (B) Foreign security (B)Reserve Bank of India
2. They cannot accept demand (C) Govt. of India Security (C)Ministry of Rural Development
deposits like Saving Accounts. (D) All of the above (D)Selected group of Public Sector
Which of the statement(s) given 72. The decimal system was made Banks
above is/are correct? applicable to Indian currency 78. Who maintains the foreign
[UPSC (Pre) 2010] system in which year? exchange reserve in India?
(A) Only 1 [UPPCS (Mains) 2010 [UPPCS (Pre) 2012]
MPPCS (Mains) 1995] (A) Reserve Bank of India
(B) Only 2
(C) Both 1 and 2 (A) 1947 (B) 1957 (B) State Bank of India
(D) Neither 1 nor 2 (C) 1935 (D) 1949 (C) Ministry of Finance,
67. With reference to India, consider 73. Consider the following. Government of India
the following. 1. Industrial Finance Corporation (D) Export-Import Bank of India
1. Nationalisation of Banks. of India (IFCI) 79. FEMA (Foreign Exchange Manage-
2. Formation of Regional Rural 2. Industrial Credit and ment Act) was finally implemented
Banks. Investment Corporation of in the year [UPPCS (Pre) 2013]
India (ICICI) (A) 1991 (B) 1997
3. Adoption of villages by Banks
Branches. 3. Industrial Development Bank
(C) 2000 (D) 2007
of India (IDBI)
Which of the above can be 80. Which one of the following pairs is
considered as steps taken to 4. Unit Trust of India (UTI)
not correctly matched?
achieve the ‘financial inclusion’ in The correct sequence in which the [UPPCS (Pre) 2015]
India? [UPSC (Pre) 2010] above were established is
[UPSC (Pre) 1995]
(A) Industrial Finance - SIDBI
(A) 1 and 2 (B) 2 and 3 (B) Social Security Measures -
(C) Only 3 (D) 1, 2 and 3 (A) 1, 2, 3, 4 (B) 1, 3, 2, 4
Bharat Nirman
68. Why is the offering of ‘teaser loans’ (C) 4, 3, 2, 1 (D) 1, 4, 3, 2
(C) Rural Credit - NABARD
by commercial banks is a cause of 74. Devaluation of currency means
[UPPCS (Pre) 1998] (D) Rural Employment - SJSRY
economic concern?
(A) reduction in the value of 81. Which one of the following does
1. The ‘teaser loans’ are not implement the Self-Help
considered to be an aspect of the currency vis-a-vis major
internationally traded Groups (SHGs) - Bank Linkage
sub-prime lending and banks Programme? [UPPCS (Pre) 2015]
may be exposed to the risk of currencies
(B) permitting a currency to seek (A) NABARD
defaulters in future.
2. In India, the ‘teaser loans’ are its worth in the international (B) Commercial Banks
mostly given to entrepreneurs market (C) RRBs
to set-up manufacturing or (C) fixing the value of currency (D) Co-operative Banks
export units. with the help of IMF and WB 82. ‘Simply Click’ credit card scheme is
Which of the statement(s) given (D) None of the above launched by which of the following
above is/are correct? 75. Provident Fund in India is Banks? [UPPCS (Pre) 2016]
[UPSC (Pre) 2010] [UPPCS (Pre) 1998] (A) IDBI (B) ICICI
(A) Only 1 (A) Contractual Savings (C) BOB (D) SBI
83. In India, the first bank of limited 87. One of the important goals of the (C) CBR (Central Bank Reserve)
liability managed by Indians and economic liberalisation policy is (D) CLR (Central Liquidity Reserve)
founded in 1881 was to achieve full convertibility of 92. Capital Account convertibility of
[UPSC (Pre) 2003] the Indian rupee. This is being Indian Rupee implies
(A) Hindustan Commercial Bank advocated because [UPSC (Pre) 1998]
(B) Oudh Commercial Bank [UPSC (Pre) 1996]
(A) that the Indian Rupee can be
(C) Punjab National Bank (A) convertibility of the rupee will exchanged by the authorised
stabilise its exchange value dealer to travel
(D) Punjab and Sind Bank
against major currencies of the (B) that the Indian Rupee can
84. Which one of the following world
statements is correct with reference be exchanged for any major
(B) it will attract more foreign currency for the purpose of
of FEMA in India? [UPSC (Pre) 2003]
capital inflow in India trade in goods and services
(A) The Foreign Exchange (C) it will help promote exports
Management Act (FEMA) in (C) that the Indian Rupees can be
(D) it will help India secure loans exchanged for any the purpose
the year 2001
from the world financial of trading financial assets
(B) FERA was given a sunset markets on attractive terms
clause of one year till 31st May, (D) None of the above
2002 to enable enforcement 88. In India, rural incomes are 93. Consider the following statements.
directorate to complete the generally lower than the urban Full convertibility of the rupee may
investigation of pending issues incomes. Which of the following mean
reasons account for this?
(C) Under FEMA, violation of 1. Its free float with any of the
[UPSC (Pre) 1996]
foreign exchange rules has international currencies.
ceased to be a criminal offence 1. A large number of farmers are
2. Its direct exchange with any
illiterate and know little about
(D) As per the new dispensation, other international currency at
scientific agriculture.
enforcement directorate can any prescribed place inside and
arrest and prosecute the people 2. Prices of primary products outside the country.
for the violation of foreign are lower than those of
3. It acts just like any other
exchange rule manufactured products.
international currency.
85. Consider the following statements. 3. Investments in agriculture has
been low when compared to Which of these statements are
1. The National Housing Bank investment in industry. correct? [UPSC (Pre) 2001]
(NHB), the apex institution (A) 1 and 2 (B) 1 and 3
(A) 1, 2 and 3 (B) 1 and 2
of housing finance in India (C) 2 and 3 (D) 1, 2 and 3
was set-up as a wholly-owned (C) 1 and 3 (D) 2 and 3
89. The accounting year of the Reserve 94. Convertibility of the Rupee as it
subsidiary of the Reserve Bank exists at present means
of India. Bank of India is [UPSC (Pre) 1998]
2. The Small Industries (A) April - March
(B) July - June (A) Rupee is convertible into
Development Bank of India was
foreign currencies for all types
established as a wholly owned (C) October - September
of transactions
subsidiary of the Industrial (D) January - December
Development Bank of India. (B) Rupee is convertible into
90. Consider the following statements. foreign currencies for trade
Which of the statement(s) given The price of any currency in inter- transactions only
above is/are correct? national market is decided by the
[UPSC (Pre) 2004] (C) Rupee is convertible into
1. World Bank foreign currencies for all
(A) Only 1 2. Demand for goods/services current transactions only
(B) Only 2 provided by the country (D) Rupee is convertible into
(C) Both 1 and 2 concerned. foreign currencies for capital
(D) Neither 1 nor 2 3. Stability of the government of transactions only
86. Consider the following statements. the concerned country. 95. Which one of the following is not a
1. Reserve Bank of India was 4. Economic potential of the nationalised bank?
nationalised in the year 1949. country in question of these [UPPCS (Mains) 2004
2. The borrowing programme statements. Assam PSC (Pre) 2011]
of the Government of India is Select the correct answer using the (A) Bank of Baroda
handled by the Department codes given below. [UPSC (Pre) 1998] (B) Canara Bank
of Expenditure, Ministry of (A) 1, 2, 3 and 4 (B) 2 and 3 (C) ICICI Bank
Finance. (C) 3 and 4 (D) 1 and 4 (D) Punjab National Bank
Which of the statement(s) given 91. The banks are required to maintain
above is/are correct? 96. Which one of the following is a
a certain ratio between their cash private bank? [UPPCS (Pre) 2003]
[UPSC (Pre) 2004]
in hand and total assets. This is (A) Allahabad Bank
(A) Only 1 called [UPSC (Pre) 1998]
(B) Only 2 (B) Punjab and Sind Bank
(A) SBR (Statutory Bank Ratio) (C) Punjab Bank
(C) Both 1 and 2 (B) SLR (Statutory Liquidity Ratio)
(D) Neither 1 nor 2 (D) Punjab National Bank
97. Which one of the following is not India in [UPPCS (Mains) 2011] of cheques, drafts, bills of
the function of Regional Rural (A) 1861 (B) 1542 exchange etc.
Banks? [UPPCS (Mains) 2005] (C) 1601 (D) 1880 (D) The metallic money in
(A) To provide credit to small and 105. Consider the following statements. circulation in a country
marginal farmers 1. Gorewal Committee 110. Consider the following statements.
(B) To provide credit to common recommendation led to the 1. The Reserve Bank of India
people in rural area establishment of State Bank of manages and services
(C) To supplement Scheduled India. Government of India Securities
Commercial Banks 2. 14 banks were nationalised on but not any State Government
(D) To take over the functions July 19, 1969. Securities.
of Agricultural Refinance 2. Treasury bills are issued by the
Corporation of India Government of India and there
98. In India, regional rural banks were [UPPCS (Mains) 2004] are no treasury bills issued by
established in the year the State Governments.
(A) Only 1
[UPPCS (Mains) 2010] 3. Treasury bills offer are issued at
(B) Only 2
(A) 1976 (B) 1975 a discount from the par value.
(C) Both 1 and 2
(C) 1980 (D) 1982 Which of the statement(s) given
(D) Neither 1 nor 2
99. Consider the following. above is/are correct?
106. The Prevention of Money [UPSC (Pre) 2018]
1. Regional Rural Banks Laundering Act came into force in
2. Lead Bank Plan (A) Only 1 and 2 (B) Only 3
India during [BPSC (Pre) 2018]
3. NABARD (C) Only 2 and 3 (D) 1, 2 and 3
(A) 1998 (B) 1999
4. State Bank of India 111. Consider the following statements.
(C) 2001 (D) 2005
The correct chronological sequence 107. As in December 2017, Indian 1. Capital Adequacy Ratio (CAR)
of establishing of these banks is is the amount that banks have
government’s holding in which
[UPPCS (Mains) 2005] to maintain in the form of their
of the following banks was
(A) 4, 3, 1, 2 (B) 4, 2, 1, 3 own funds to offset any loss
maximum? [UP RO (Pre) 2018]
(C) 2, 3, 4, 1 (D) 2, 1, 4, 3 that banks incur, if the account-
(A) Central Bank of India holders fail to repay dues.
100. Which of the following systems of (B) United Bank of India
Note-issue is followed by RBI? 2. CAR is decided by each
(C) Bank of India individual bank.
(D) State Bank of India Which of the statements given
(A) Proportional Reserve System 108. With reference to the governance above is/are correct?
(B) Minimum Reserve System of public sector banking in India, [UPSC (Pre) 2018]
(C) Fixed Fiduciary System consider the following statements. (A) Only 1
(D) None of the above 1. Capital infusion into public (B) Only 2
101. Scheduled bank is a bank which is sector banks by the Government (C) Both 1 and 2
[UPPCS (Mains) 2007] of India has steadily increased
(D) Neither 1 nor 2
(A) Nationalised in the last decade.
(B) Not Nationalised 112. Which one of the following best
2. To put the public sector
(C) Based in foreign country describes the term ‘Merchant
banks in order, the merger of
Discount Rate’ sometimes seen in
(D) Included in the second schedule associate banks with the parent
news? [UPSC (Pre) 2018
of RBI State Bank of India has been
Andhra Pradesh PSC (Pre) 2018]
102. Coins are minted in India at affected.
(A) The incentive given by a bank
[UPPCS (Mains) 2008] Which of the statement(s) given
to a merchant for accepting
(A) Delhi, Mumbai and Kolkata above is/are correct?
payments through debit cards
(B) Delhi, Kolkata and Hyderabad [UPSC (Pre) 2018]
pertaining to that bank
(C) Mumbai, Delhi and Bengaluru (A) Only 1
(B) The amount paid back by banks
(D) Mumbai, Kolkata and (B) Only 2 to their customers when they
Hyderabad (C) Both 1 and 2 use debit cards for financial
103. Money Multiplier in India is (D) Neither 1 nor 2 transactions for purchasing
defined as [UPPCS (Mains) 2009] 109. Which one of the following goods or services
Broad Money statements correctly describes the (C) The charge to a merchant by a
(A) meaning of legal tender money?
Base Money bank for accepting payments
[UPSC (Pre) 2018] from his customers through the
Broad Money
(B) (A) The money which is tendered bank’s debit cards
Reserve Money
in courts of law to defray the fee (D) The incentive given by the
Reserve Money of legal cases Government to merchants for
(C)
Base Money (B) The money which a creditor is promoting digital payments by
Base Money under compulsion to accept in their customers through Point
(D)
Reserve Money settlement of his claims of Sale (PoS) machines and
104. Paper currency was first started in (C) The bank money in the form debit cards
113. Assertion (A): Devaluation of a (B) Both (A) and (R) are true, 2. Industrial Development Bank
currency may promote export. but (R) is not the correct of India
Reason (R): Price of the country’s explanation of (A) 3. Industrial Credit and
products in the international (C) (A) is true, but (R) is false Investment Corporation of
market may fall due to devaluation. (D) (A) is false, but (R) is true India
In the context of the above two 114. Match List-I with List-II and select 4. Board of Industrial and
statements, select the correct the correct answer using the codes Financial Reconstruction
answer from the codes given given below the lists. Code
below. [UPSC (Pre) 1999 [BPSC (Pre) 2015] (a) (b) (c) (d)
UPPCS (Pre) 2003] List-I (A) 1 2 3 4
Code (a) 1994 (b) 1964 (B) 2 3 1 4
(A) Both (A) and (R) are true and (c) 1982 (d) 1987 (C) 3 2 1 4
(R) is the correct explanation of List-II (D) 4 1 2 3
(A) 1. Export-Import Bank of India
Answer Sheet
1. (B) 2. (C) 3. (B) 4. (C) 5. (A) 6. (C) 7. (C) 8. (D) 9. (D) 10. (B)
11. (A) 12. (C) 13. (B) 14. (C) 15. (A) 16. (B) 17. (C) 18. (D) 19. (C) 20. (C)
21. (D) 22. (B) 23. (B) 24. (B) 25. (C) 26. (D) 27. (B) 28. (C) 29. (C) 30. (A)
31. (A) 32. (D) 33. (B) 34. (B) 35. (D) 36. (C) 37. (D) 38. (D) 39. (B) 40. (D)
41. (C) 42. (C) 43. (C) 44. (D) 45. (C) 46. (A) 47. (B) 48. (A) 49. (B) 50. (B)
51. (B) 52. (B) 53. (D) 54. (C) 55. (B) 56. (D) 57. (D) 58. (C) 59. (C) 60. (D)
61. (C) 62. (D) 63. (C) 64. (D) 65. (C) 66. (B) 67. (D) 68. (A) 69. (B) 70. (C)
71. (D) 72. (B) 73. (D) 74. (A) 75. (A) 76. (C) 77. (A) 78. (A) 79. (C) 80. (D)
81. (B) 82. (D) 83. (B) 84. (C) 85. (C) 86. (A) 87. (B) 88. (A) 89. (B) 90. (B)
91. (B) 92. (C) 93. (A) 94. (C) 95. (C) 96. (C) 97. (D) 98. (D) 99. (B) 100. (B)
101. (D) 102. (D) 103. (B) 104. (A) 105. (C) 106. (D) 107. (B) 108. (C) 109. (B) 110. (C)
111. (A) 112. (C) 113. (A) 114. (C)
13. Liberalisation, Privatisation and Globalisation

1. Who is called the pioneer of 3. Promotion given to Multinational (A) Reduction in import duties
liberalisation of Indian Economy? companies in India means (B) Abolition of import licensing
[MPPCS (Pre) 2008] encouragement of (C) Free flow of foreign Direct
(A) Dr. Manmohan Singh [MPPSC (Pre) 2005] Investment
(B) P.V. Narsimha Rao (A) Privatisation policy (D) Disinvestment of Public Sector
(C) Dr. Bimal Jalan (B) Globalisation policy equity
(D) P. Chidambaram (C) Liberalisation policy 7. Free Trade Policy refers to a policy
2. Read the following statements (D) All of the above where there is [UPPCS (Mains) 2005]
carefully 4. Rangrajan committee was (A) absence of tariff
1. In 1991, policy of Economic constituted for [MPPCS (Pre) 2014] (B) restriction on the movement of
liberalisation was adopted in (A) Disinvestment goods
India. (B) Banking reforms (C) existence of anti-dumping
2. Foreign currency market and (C) Tax reforms policy
foreign investment sectors (D) Foreign Trade (D) encouragement for balanced
were promoted. 5. The first phase of liberalisation was growth
3. Import of foreign goods was initiated in India under the regime 8. The first Export Processing Zone of
freed from prohibition. of [UKPCS (Pre) 2016] the Private Sector was established
Select the answer on the basis of (A) Rajiv Gandhi at [Sikkim PSC (Pre) 2017
following codes. (B) P.V. Narsimha Rao UPPCS (Mains) 2005]
[MPPCS (Pre) 2007]
(C) Atal Behari Vajpayee (A) Surat
(A) 1, 2 and 3 are correct (D) H.D. Dev Gowda (B) Noida
(B) 1 and 2 are correct 6. Globalisation does not include (C) Chennai
(C) 1 and 3 are correct [Tamil Nadu PSC (Pre) 2017 (D) Mangalore
(D) 2 and 3 are correct UKPCS (Pre) 2016]
9. Free trade zone is one (C) Legal System Reforms and ISO 9002 certification in the
[UPPCS (Mains) 2007] (D) Reform of Government & recent past.
(A) where trade’s done without Public Institutions Reason (R): There has been
restrictions 11. Why companies go for business considerable liberalisation in the
(B) where any entrepreneur is free process re-engineering with the licensing policy of the Government
to start industries help of technology? of India.
(C) where infrastructure [RAS (Pre) 2018] In the context of the above given
facilities are provided free (A) Customers demand and statements, select the correct
to entrepreneurs by the expectations answer from the codes given
government (B) IT being leveraged to provide below. [UPPCS (Pre) 1997]
(D) where industries are free from competitive edge in products Code
excise duties and produce for and services at lower costs (A) Both (A) and (R) are true and
exports (C) The pace of change has (R) is the correct explanation of
10. Which of the following is not part of accelerated with the (A)
the ‘Second-generation of Reforms’ liberalisation of economies (B) Both (A) and (R) are true,
identified by the government? world over but (R) is not the correct
[UPPCS (Pre) 2009] (D) All of the above explanation of (A)
(A) Oil Sector Reforms 12. Assertion (A): Many industries (C) (A) is true, but (R) is false
(B) Public Sector Reforms in India have obtained ISO 9001 (D) (A) is false, but (R) is true
Answer Sheet
1. (A) 2. (A) 3. (D) 4. (A) 5. (A) 6. (D) 7. (A) 8. (A) 9. (D) 10. (A)
11. (D) 12. (B)
14. Foreign Exchange Market

1. From which year was the FEMA (C) Reserve Bank of India 5. Remittances from Indians
Promulgated? (D) Ministry of Finance working abroad
[MPPSC (Pre) 2005] 5. The term ‘Paper Gold’ means Select the correct answer from the
(A) 2003 (B) 2002 [UPPCS (Mains) 2004] given codes. [UPPCS (Pre) 2007]
(C) 2000 (D) 1999 (A) special drawing rights of the (A) 1, 3, 4, 5 (B) 1, 2, 3, 4
2. Under free exchange market I.M.F. (C) 1, 2, 4, 5 (D) 2, 3, 4, 5
the rate of foreign exchange is (B) special accommodation facility 8. Consider the following statements
determined by [HCS (Pre) 2014] of the World Bank and choose the correct answer with
(A) Balance of Payments Theory (C) currencies still on Gold the help of codes given.
(B) Purchasing Power Parity standard Assertion (A): In the recent
Theory (D) deficit financing past, there has been a significant
(C) Mint par Theory 6. India, Foreign Investment increase in foreign exchange
(D) None of the above Promotion Board now works under reserve of India.
3. The development is [UPPCS (Pre) 2007] Reason (R): Invisible exports
[UPPCS (Pre) 1994] (A) Reserve Bank of India have been much higher than
(A) reduction of prices (B) Ministry of External Affairs invisible imports in terms of
(B) deficit financing (C) Ministry of Commerce dollars. [UPPCS (Mains) 2004]
(C) loans from World Bank and (D) Ministry of Finance Code
I.M.F. 7. The Forex Reserve in India have (A) Both (A) and (R) are true and
(D) reduction in the value of been witnessing continuous (R) is the correct explanation of
currency in terms of gold growth due to following reasons. (A)
4. Which of the following authority 1. Rise in FDI inflows (B) Both (A) and (R) are true,
sanctions foreign exchange for 2. Gifts from Foreign Countries but (R) is not the correct
import of goods? [UPPCS (Pre) 2011] 3. High interest regime in the explanation of (A)
(A) Any nationalised Bank country (C) (A) is true, but (R) is false
(B) Exchange Bank 4. Huge inflows of FIIs funds (D) (A) is false, but (R) is true
Answer Sheet
1. (C) 2. (B) 3. (D) 4. (C) 5. (A) 6. (D) 7. (A) 8. (A)
15. Balance of Payment

1. Which of the following statements also include trade related (A) ECGC
is correct about the Balance of investment measures (B) MMTC
Trade of India? [RAS (Pre) 2016] (D) The Dunkel proposals also (C) STC
(A) India’s trade balance remained include the proposal that (D) All of the above
negative for the entire period Indo-Pak relation may be 13. Which one of the following
from 1949-50 to 2015-16 strengthened on the basis of institutions related to export
(B) India’s trade balance remained Shimla Agreement financing and insurance?
positive for the entire period 6. What have been the reasons of [UPPCS (Mains) 2007]
from 1949-50 to 2015-16 deficit in India’s Balance of Trade (A) ECGC (B) GAIL
(C) India’s trade balance remained in the Past? [HCS (Pre) 2014]
(C) CBDT (D) IDBI
negative for the entire period (A) Very large rise in imports
from 1949-50 to 2015-16 14. Invisible export means export of
(B) Modest growth of exports [UPPCS (Pre) 2006]
except two year 1972-73 and (C) High cost and low quantity
1976-77, when it was positive (A) Services
production
(D) India’s trade balance remained (D) All of the above (B) Prohibited goods
positive for the entire period 7. Balance of payment is defined as (C) Unrecorded goods
from 1949-50 to 2015-16 [UPPCS (Pre) 1994] (D) Goods through smuggling
except two year 1972-73 and 15. Balance of payment includes
(A) the value of exports minus the
1976-77, when it was negative [UPPCS (Pre) 2009]
value of imports
2. India’s Trade Policy (2009-14) (A) Visible Trade
(B) the difference between the
seeks to (B) Invisible Trade
liabilities and assets of a firm
1. Double the country’s share of (C) the difference between current (C) Debts
global trade by 2020. expenditure and current (D) All of the above
2. Achieve a growth of 25 percent revenue in the government
per annum in exports 16. A letter of credit has to be produced
(D) complete record of all by [UPPCS (Pre) 2011]
3. Double Indian exports of goods economic transaction between
and services by 2015 (A) An exporter
the residents of the country and
Choose the correct statements. (B) An importer
rest of the world
[RAS (Pre) 2013] (C) Custom authorities
8. India export maximum leather to
(A) 1 and 2 (B) 2 and 3 [UPPCS (Pre) 1994] (D) Shipping company
(C) 1 and 3 (D) 1, 2 and 3 (A) U.S.A. (B) U.S.S.R. 17. Which one of the following set of
3. Balance of Payment on capital (C) England (D) W. Germany commodities are exported to India
account includes [HCS (Pre) 2014] by arid and semi-arid countries in
9. Which one of the following groups the Middle East? [UPPSC (Pre) 1996]
(A) Balances of private direct constitutes the largest item of
investments Export from India? (A) Raw Wool and Carpets
(B) Private portfolio investments [UPPCS (Pre) 1996] (B) Fruits and Palm oil
(C) Government loans to foreign (A) Engineering Goods and Tea (C) Precious stones and Pearls
governments (B) Tea, Gems and Jewellery (D) Perfume and Coffee
(D) All of the above (C) Readymade Garments and 18. Consider the following statements.
4. The term ‘Balance of Payment’ is Sugar The Indian rupee is fully
used in relation to which of the (D) Readymade Garments, Gems convertible
following? [UPPCS (Mains) 2011] and Jewellery 1. In respect of Current Account of
(A) Annual sale of a factory 10. Which among the following does Balance of Payment
(B) Tax collection not have ‘free trade zone’? 2. In respect of Capital Account of
(C) Export and Imports [UPPCS (Pre) 1999] Balance of Payment
(D) None of the above (A) Kandla 3. Into gold
5. Which one of the following (B) Mumbai Which of these statement(s) is/are
statements is not correct? (C) Vishakhapatnam correct? [UPSC (Pre) 2000]
[MPPSC (Pre) 1994] (D) Thiruvananthapuram (A) Only 1
(A) The proposals made by the 11. ‘ECGC’ is related to (B) Only 2
Director General of GATT to [UPPCS (Pre) 2003] (C) 1 and 2
resolve the stalled Uruguay (A) Export promotion (D) 1, 2 and 3
talks are referred to as the (B) Export financing and insurance 19. Which one of the following
Dunkel Draft
(C) Export quality certification countries is the largest trading
(B) The Dunkel Draft also included partner of India? [UKPSC (Pre) 2016]
(D) Export statistics publication
proposals pertaining to
intellectual property rights 12. Which organisation promotes the (A) U.S.A. (B) U.K.
(C) The Dunkel proposals foreign trade? [UPPCS (Pre) 2011] (C) France (D) China
20. Among the following countries, ties has highest export from India to be the major component of
which was the highest crude oil in 2017? [UP RO (Pre) 2018] India’s external credit till 2017?
supplier to India during 2017-18? (A) Agriculture and allied products [UP RO (Pre) 2018]
[UP RO (Pre) 2018] (B) Engineering goods (A) NRI deposits
(A) Saudi Arabia (B) Iran (C) Textiles (B) Short term debt
(C) Iraq (D) Kuwait (D) Chemicals (C) Trade Credit
21. Which of the following commodi- 22. Which of the following continued (D) Commercial borrowing
Answer Sheet
1. (C) 2. (D) 3. (D) 4. (C) 5. (D) 6. (D) 7. (D) 8. (A) 9. (D) 10. (A)
11. (B) 12. (A) 13. (A) 14. (A) 15. (D) 16. (B) 17. (A) 18. (A) 19. (D) 20. (C)
21. (B) 22. (D)
16. Foreign Direct Investment (FDI)

1. Which sector in India attracts the 2. Majority foreign equity holding 3. Down-sizing of bureaucracy
highest FDI equity flow? in Indian companies. 4. Selling/Offloading the shares
[UKPCS (Pre) 2016] 3. Companies exclusively of Public Sector undertaking
(A) Construction sector financed by foreign companies. Which of the above can be used
(B) Energy sector 4. Portfolio investment. as measures to control the fiscal
(C) Service sector Select the correct answer using the deficit in India? [UPSC (Pre) 2010]
(D) Automobile sector codes given below. [UPSC (Pre) 2012] (A) 1, 2 and 3
2. The maximum limit of Foreign (A) 1, 2, 3 and 4 (B) 2, 3 and 4
Direct Investment (FDI) in public (B) 2 and 4 (C) 1, 2 and 4
sector banking is [HPPSC (Pre) 2011] (C) 1 and 3 (D) 3 and 4
(A) 20% (D) 1, 2 and 3 7. Both Foreign Direct Investment
(B) 50% 5. A great deal of Foreign Direct (FDI) and Foreign Institutional
(C) 33% Investment (FDI) to India comes Investor (FII) are related to
(D) 49% from Mauritius than from many investment in a country. Which one
3. Which of the following pairs are major and mature economics like of the following statements best
correctly matched? UK and France why? represents an important difference
[UPSC (Pre) 2010] between the two? [UPSC (Pre) 2011]
1. Increase in foreign exchange
reserves - Monetary expansion (A) India has preference for certain (A) FII helps brings better
2. Low import growth - Recession countries as regards receiving management skills and
in Indian industry FDI technology, while FDI only
(B) India has double taxation brings in capital
3. Euro issues - Shares held by
Indian companies in European avoidance agreement with (B) FII helps in increasing capital
countries Mauritius availability in general, while
(C) Most citizens of Mauritius have FDI only targets specific sector
4. Portfolio investment - Foreign
institutional investors ethnic identity with India and (C) FDI flows only into the
so they feel secure to invest in secondary market, while FII
Select the correct answer from the targets primary markets
India
codes given below. [UPSC (Pre) 1995]
(D) Impending dangers of global (D) FII is considered to be more
(A) 1, 2 and 4 stable than FDI
climatic change prompt
(B) 3 and 4 Mauritius to make huge 8. In terms of the share in Foreign
(C) 1, 2 and 3 investment in India Direct Investment Equity inflows,
(D) 1, 2, 3 and 4 6. In the context of governance, in India during 2016-17, which of
4. Which of the following would consider the following. the following countries is on the
include Foreign Direct Investment 1. Encouraging Foreign Direct top? [RAS (Pre) 2018]
in India? Investment inflows. (A) Mauritius (B) Singapore
1. Subsidiaries of companies in 2. Privatisation of higher (C) Japan (D) U.S.A.
India. education institutions.
Answer Sheet
1. (C) 2. (A) 3. (A) 4. (D) 5. (B) 6. (D) 7. (B) 8. (A)
17. World Bank, WTO, BRICS

1. Who coined the term ‘BRIC’ in (B) 1st January, 1995 2. International Finance
2001? [UKPCS (Pre) 2016] (C) 1st April, 1994 Corporation
(A) Jim O’ Neil (D) 1st May, 1995 3. International Fund for
(B) Barack Obama 11. The earlier name of WTO was Agricultural Development
(C) John Kennedy [UPSC (Pre) 2001] 4. International Monetary Fund
(D) Vladimir Putin (A) UNCTAD (B) GATT Which of these are agencies of the
2. The British scholar Jim O’ Neil who (C) UNIDO (D) OECD United Nation? [UPSC (Pre) 2001]
coined the term ‘BRICS’ is related 12. The headquarters of World Trade (A) 1 and 2 (B) 2 and 3
to which of the following subjects? Organisation is at (C) 3 and 4 (D) 1, 2, 3 and 4
[UKPCS (Pre) 2016] [UPPCS (Mains) 2007] 18. Which of the following were the
(A) Psychology (A) Doha (B) Geneva aims behind the setting up of the
(B) Sociology (C) Rome (D) New York World Trade Organisation (WTO)?
(C) Political Science 13. Which among below is not a correct 1. Promotion of free trade and
(D) Economics statement? [HCS (Pre) 2014] resources flow across countries.
3. In which year ‘BRIC’ grouping was (A) Bretton Woods Conference 2. Protection of intellectual
formed as ‘BRICS’? gave birth to two international property rights.
[UKPCS (Pre) 2016] organisations 3. Managing balanced trade
(A) 2010 (B) 2015 (B) Theory of Absolute Advantage between different countries.
(C) 2009 (D) 2012 in international trade is given 4. Promotion of trade between
4. The first ever summit meeting of by Adam Smith the former East Bloc countries
‘BRICS countries’ took place at (C) Pure and perfect competition and the Western World.
[UKPCS (Pre) 2011] are the same market structures Select the correct answer using the
(A) Brazil (B) India (D) Mint parity theory of exchange codes given below. [UPSC (Pre) 1996]
(C) Russia (D) China rate determination is (A) 1, 2, 3 and 4 (B) 1 and 2
5. Which one of the following is not a applicable in countries under (C) 2 and 3 (D) 1 and 4
member of ‘BRICS’? gold standard 19. One of the important agreements
[UKPCS (Pre) 2014] 14. The central issue in Doha Round of reached in the 1996 Ministerial
(A) India talks of World Trade Organisation conference of WTO refers to
was [UKPCS (Pre) 2016] [UPSC (Pre) 1997]
(B) China
(C) Saudi Arabia (A) Issue related to agriculture (A) Commerce in Information
(B) Export from developing Technology
(D) Brazil
countries (B) Multilateral Agreement on
6. Which one of the following Investment
(C) Trade in service
countries was introduced in ‘BRICS’
(D) Intellectual property right (C) Multi Fibre Agreement
in the last? [UKPCS (Mains) 2014]
related to trade (D) Exchange of Technical
(A) India (B) China
15. International Development Personnel
(C) South Africa (D) Brazil
Association (IDA) is managed by 20. How is the United Nations
7. How many countries are members [UPSC (Pre) 1999] Monetary and Financial Conference
of World Bank? [UKPCS (Pre) 2016] wherein the agreements were
(A) World Bank
(A) 189 (B) 181 signed to set-up IBRD, GATT and
(B) International Monetary Fund
(C) 164 (D) 193 IMF, commonly known?
(C) UNO
8. In which year was the World Bank (D) U.S. Federal Bank [Tamil Nadu PSC (Pre) 2017
formed? [MPPSC (Pre) 2005] UPSC (Pre) 2008]
16. The International Development
(A) 1945 (B) 1956 Association, a lending agency, is (A) Bandung Conference
(C) 1960 (D) 1998 administered by the (B) Bretton Woods Conference
9. Which of the following is also [UPSC (Pre) 2010 (C) Versailles Conference
known as International Bank for UKPCS (Pre) 2016] (D) Valta Conference
Reconstruction and Development? (A) International Bank of Recon- 21. The Bretton Woods Conference led
[HCS (Pre) 2014] struction and Development to the establishment of
(A) Asian Development Bank (B) International Fund for [UKPCS (Pre) 2014]
(B) World Bank Agricultural Development 1. I.M.F.
(C) International Monetary Fund (C) United Nations Development 2. I.B.R.D.
(D) Reserve Bank of India Programme 3. United Nations
10. The new World Trade Organisation (D) United Nations Industrial 4. W.T.O.
(WTO), which replaced the GATT Development Organisation Code
came into effect from 17. Consider the following operations. (A) 1 and 2 (B) 1, 2 and 3
[HCS (Pre) 2014] 1. International Bank for Recon- (C) 1 and 3 (D) 1, 2, 3 and 4
(A) 1st January, 1991 struction and Development
22. On the basis of size and composition 27. India enacted the Geographical statements, select the correct
of external debt, World Bank has Indications of Goods (Registration answer from the codes given
classified India as and Protection) Act, 1999 in order below. [UPSC (Pre) 2003]
[UPPCS (Mains) 2009] to comply with the obligations to Code
(A) A moderately indebted country [UPSC (Pre) 2018] (A) Both (A) and (R) are true and
(B) A less indebted country (A) ILO (B) IMF (R) is the correct explanation of
(C) A heavily indebted country (C) UNCTAD (D) WTO (A)
(D) A critically indebted country 28. Match List-I with List-II and select (B) Both (A) and (R) are true,
23. Which of the following ‘BRICS’ the correct answer using the codes but (R) is not the correct
nation has highest per capita given below the lists. explanation of (A)
[UPSC (Pre) 1999] (C) (A) is true, but (R) is false
income? [UPPCS (Mains) 2010]
(A) China List-I (D) (A) is false, but (R) is true
(B) India (a) WTO (b) IDA 30. Assertion (A): The United States
(c) IMF (d) IBRD of America has threatened to ask
(C) South Africa
List-II the World Trade Organisation
(D) Russian Federation (WTO) to apply sanctions
24. Which one of the following 1. Provides loans to address short
term balance of payment against the developing countries
countries is not a member of for the non-observance of ILO
WTO? [UPPCS (Mains) 2016] 2. Multilateral trade negotiation
body conventions.
(A) Slovenia (B) Serbia Reason (R): The United States
3. Sanction of soft loans
(C) Slovakia (D) Columbia of America itself has adopted
4. Facilitating lending and
25. A group formed by India, Brazil, borrowing for reconstruction and implemented those ILO
China and other developing and development conventions.
countries for future negotiations at In context of the above two
Code
WTO is known as [UPPCS (Pre) 2004] statements which one of the
(a) (b) (c) (d)
(A) G-77 (B) G-55 following is correct?
(A) 2 3 4 1 [UPSC (Pre) 1998]
(C) G-33 (D) G-11
(B) 3 2 4 1
26. TRIMS stands for [BPSC (Pre) 2018] Code
(C) 2 3 1 4
(A) Trade-Related Income (A) Both (A) and (R) are true and
(D) 3 2 1 4 (R) is the correct explanation of
Measures
29. Assertion (A): The new EXIM (A)
(B) Trade-Related Incentives policy is liberal, market oriented
Measures (B) Both (A) and (R) are true,
and favours global trade. but (R) is not the correct
(C) Trade-Related Investment Reason (R): GATT has played a
Measures explanation of (A)
significant role in the liberalisation (C) (A) is true, but (R) is false
(D) Trade-Related Innovative of the economy.
Measures (D) (A) is false, but (R) is true
In the context of the above two
Answer Sheet
1. (A) 2. (D) 3. (A) 4. (C) 5. (C) 6. (C) 7. (A) 8. (A) 9. (B) 10. (B)
11. (B) 12. (B) 13. (C) 14. (B) 15. (A) 16. (A) 17. (D) 18. (A) 19. (A) 20. (B)
21. (A) 22. (B) 23. (D) 24. (B) 25. (C) 26. (C) 27. (D) 28. (C) 29. (D) 30. (B)
18. Other Institutions

1. The emerging trading blocs in the 2. Which one of the following (B) International Bank of Recon-
world, such as NAFTA, ASEAN and countries occupies the first place in struction and Development
the others are expected to the ‘Global Competitive Report’ of (C) World Trade Organisation
[UPSC (Pre) 1996] World Economic Forum? (D) International Monetary Fund
(A) act as constriction in free trade [UPSC (Pre) 2000] 4. Under which agreement Monetary
across the world (A) USA Fund was established?
(B) promote free trade on the line (B) Singapore [UKPCS (Pre) 2014]
laid down by the WTO (C) Hong Kong (A) Bretton Woods Agreement
(C) permit transfer of technology (D) Switzerland (B) Bretton Stone Agreement
between member countries 3. ‘World Development Report’ is an (C) S. Wood Agreement
(D) promote trade in agricultural annual publication of (D) U. Thant Agreement
commodities between [UPSC (Pre) 2002] 5. Which among the following is not a
countries of the North and (A) United Nations Development function of International Monetary
South Programme Fund? [HCS (Pre) 2014]
(A) It serves a medium term and (D) Only 18 countries of Europe for 2011-2020?
long term credit institution 13. ‘G-8 Muskoka Initiative’ is [UPPCS (Mains) 2012]
(B) It provides a mechanism for concerned with [UKPCS (Pre) 2011] (A) Natural disaster decade
improving short term balance (A) End of International Terrorism (B) Biodiversity decade
of payments position (B) Maternity and Child Health (C) Climate change
(C) It provides Machinery for (C) Settlement of International (D) Environment decade
international consultations Disputes 18. In which year was the SAPTA
(D) It provides a reservoir of the (D) Reduction of Greenhouse gas (South Asian Preferential Trade
currencies to the member emission Agreement) constituted?
countries and enables members 14. Consider the following statements. [UKPSC (Pre) 2016]
to borrow one another’s (A) 1977 (B) 1993
currency 1. Poverty Reduction and Growth
Facility (PRGF) has been (C) 1985 (D) 1996
6. Regarding the International established by the International 19. The first summit of ‘International
Monetary Fund (IMF) which one Development Association (IDA) Solar Alliance’ was held in which of
of the following statements is to provide further assistance to the following cities?
income countries facing high [UP RO (Pre) 2018]
(A) It can grant loans to any country level of indebtedness. (A) New Delhi (B) New York
(B) It can grant loans to only 2. Singapore Regional Training (C) Paris (D) None of these
developed countries Institution (STI) is one of the
(C) It grants loans to only members 20. The Headquarters of the ‘Green
institutes that provides training Peace International’ is located at
countries in Macro-economic analysis [UPPCS (Pre) 2018]
(D) It can grant loans to the Central and policy and related subject
Bank of countries (A) Amsterdam (B) Canberra
as a part of programme of the
7. When was South Asian Association IMF institute. (C) Ottawa (D) Nagasaki
for Regional Cooperation (SAARC) Which of the statement(s) given 21. Consider the following countries.
established? [UKPCS (Pre) 2014] above is/are correct? 1. Australia 2. Canada
(A) 1984 (B) 1987 [UPSC (Pre) 2005] 3. China 4. India
(C) 1985 (D) 1989 (A) Only 1 5. Japan 6. USA
8. Which one among the following (B) Only 2 Which of the above are among the
countries is not a member of (C) Both 1 and 2 ‘free-trade partners’ of ASEAN?
SAARC? [HPPSC (Pre) 2010] (D) Neither 1 nor 2 [UPSC (Pre) 2018]
(A) Afghanistan (B) Bhutan 15. India is a member of which of the (A) 1, 2, 4 and 5 (B) 3, 4, 5 and 6
(C) Maldives (D) Myanmar following? (C) 1, 3, 4 and 6 (D) 2, 3, 4 and 6
9. Asia-Pacific Economic Co- 1. Asian Development Bank 22. Match List-I with List-II and select
operation (APEC) Summit-2014 2. Asia-Pacific Economic the correct answer using the codes
was held at [MPPCS (Pre) 2014] Cooperation given below the lists.
(A) Beijing (B) Philippines List-I [UPSC (Pre) 2000]
3. Colombo Plan
(C) Yokohama (D) Bali 4. Organisation for Economic (a) UN Development Programme
10. Asian Development Bank is located Cooperation and Development (b) NCAER
in [MPPSC (Pre) 1996] (OECD) (c) Indira Gandhi Institute of
(A) Tokyo (B) Beijing Choose the correct answer from the Development Research
(C) Bangkok (D) Manila codes given below. [UPSC (Pre) 2008] (d) World Bank
11. Which one of the following Code List-II
countries is not a member of (A) 1 and 3 (B) 2 and 4 1. Indian Human Development
OPEC? [UPPCS (Pre) 1999] (C) 1, 2 and 3 (D) 1, 2, 3 and 4 Survey
(A) Algeria (B) China 16. Who among the following is 2. India Development Report
(C) Indonesia (D) U.A.E. the founder of World Economic 3. World Development Report
12. ‘Euro’ is the official currency of Forum? [UPSC (Pre) 2009] 4. Human Development Report
[UPPCS (Pre) 1999] (A) Klaus Schwab Code
(A) All the States of Europe (B) John Kenneth Galbraith (a) (b) (c) (d)
(B) All the States of the European (C) Robert - Zoellick (A) 4 1 2 3
Union (D) Paul Krugman (B) 4 2 1 3
(C) Only 12 of the States of the 17. Which of the following has been (C) 2 3 4 1
European Union designated by the UNO as decade (D) 2 1 4 3
Answer Sheet
1. (B) 2. (D) 3. (B) 4. (A) 5. (A) 6. (C) 7. (C) 8. (D) 9. (A) 10. (D)
11. (B) 12. (D) 13. (B) 14. (B) 15. (A) 16. (A) 17. (B) 18. (B) 19. (A) 20. (A)
21. (C) 22. (A)
19. Human Development

1. Human Development Index is a (A) 1 and 2 (B) 2 and 3 (C) General Agreement on Tariffs
composite index of which of the (C) Only 2 (D) 1, 2 and 3 on Trade (GATT)
following? [UKPCS (Pre) 2016] 7. Which one of the following pub- (D) Organisation of Economic
(A) Nutritional status, quality of lishes the ‘Global Competitiveness Cooperation and Development
life and per capita GDP Index’ report? [UKPCS (Pre) 2016] (OECD)
(B) Poverty, life expectancy and (A) UNDP 13. ‘World Development Report’ is an
educational attainment (B) World Economic Forum annual publication of
(C) Life expectancy, educational (C) IMF [UPPCS (Mains) 2004]
attainment and per capita (D) WTO (A) International Bank of Recon-
income struction and Development
8. ‘Rule of Law Index’ is released by
(D) Inflation, unemployment and which of the following? (B) International Monetary Fund
per capita GDP [UPSC (Pre) 2018] (C) United Nations Development
2. Which of the following is not a (A) Amnesty International Programme
measure of Human Development (D) World Trade Organisation
(B) International Court of Justice
Index? [HPPSC (Pre) 2011] 14. Human Poverty Index was
(C) The office of UN Commissioner
(A) Life Expectancy for Human Rights developed in the year
(B) Sex Ratio (D) World Justice Project [UPPCS (Mains) 2004]
(C) Literacy Rate (A) 1991 (B) 1995
9. The Multi-Dimensional Poverty
(D) Gross Enrolment India developed by Oxford Poverty (C) 1997 (D) 2001
3. HDI is measured with reference to and Human Development Initiative 15. Which of the following dimensions
1. Infant Mortality with UNDP support covers which of is exclusively considered in HPI-2
2. Real GDP per capita following? (Human Poverty Index-2)?
3. Life Expectancy at birth 1. Deprivation of Education, [UPPCS (Mains) 2006]
4. Morbidity health, assets and services at (A) Social Exclusion
Which of the statements given household level. (B) Knowledge Exclusion
above is/are correct? 2. Purchasing power parity at (C) Economic Exclusion
[HPPSC (Pre) 2016] national level. (D) Gender Inequalities
(A) 2 and 3 are correct 3. Extent of budget deficit and 16. While calculating HDI, the
(B) 1, 2 and 3 are correct GDP growth rate at national maximum value and minimum
(C) 3 and 4 are correct level. value for life expectancy at birth
(D) All are correct Select the correct answer using the (years) are taken as
4. Which of the following is not codes given below. [UPSC (Pre) 2012] [UPPCS (Mains) 2006]
included in Human Development (A) Only 1 (B) 2 and 3 (A) 100 and 25 (B) 90 and 30
Index? [MPPCS (Mains) 2016] (C) 1 and 3 (D) 1, 2 and 3 (C) 85 and 25 (D) 80 and 20
(A) Life Expectancy 10. The multi-dimensional poverty 17. Which one of the following is
(B) Real per capita income index of UNDP includes not a constituent of Human
[UPPCS (Mains) 2010] Development Index?
(C) Social Inequality
(A) 8 indicators [UPPCS (Mains) 2012]
(D) Adult Literacy
(B) 10 indicators (A) Health and Nutrition
(C) 12 indicators (B) Per Capita Income
organisations publishes the Human
Development Report? (D) 14 indicators (C) Life Expectancy at Birth
[UKPCS (Pre) 2014] 11. The ‘World Economic Outlook (D) Gross Enrolment Rate
(A) UNESCO (B) World Bank Report’ is released by 18. Consider the following statements
(C) UNDP (D) IMF [MPPCS (Pre) 2016] about ‘World Happiness Report
(A)World Bank 2018’ released by United Nations
6. As per the Human Development
(B)International Monetary Fund in March 2018.
Report 2015, consider the
following statements. (C)Asian Development Bank 1. India dropped 11 spots from
its ranking in the previous year
1. India ranks 130 out of 188 (D)International Labour 2017.
countries. Organisation
2. HDI is based on the indices for 2. Finland with 1st rank is the
12. The World Investment Report happiest country.
life expectancy education and (WIR) is published by
PPP. 3. This report includes only 155
[HPPSC (Pre) 2014]
3. In comparison to other nations countries.
(A) International Monetary Fund
in the BRICS, India has the Of the above, the correct
(IMF)
lowest rank. statement(s) is/are
(B) United Nations Conference [UP RO (Pre) 2018]
Which of the statement(s) given on Trade and Development
above is/are correct? (A) Only 1 (B) Only 1 and 2
(UNCTAD)
[RAS (Pre) 2016] (C) Only 1 and 3 (D) Only 2 and 3
19. ‘Saving energy and other resources 21. According to the UN Department of 24. Consider the following statements.
for the future without sacrificing Economic and Social Affairs (UN- Human capital formation as a
people’s comfort in the present’ DESA), what percentage of world’s concept is better explained in terms
is the definition of which of the total population is currently living of a process which enables
following concepts? in urban areas? [UPPCS (Pre) 2018] 1. individuals of a country to
[UPPCS (Pre) 2018] (A) 25 (B) 35 accumulate more capital.
(A) Economic growth (C) 45 (D) 55 2. increasing the knowledge, skill
(B) Economic development 22. When did the Government of levels and capacities of the
(C) Sustainable development India established the independent people of the country.
(D) Human development Ministry for ‘Women and Child 3. accumulation of tangible
20. ABC Index announced by the Development’? [UPPCS (Pre) 2018] wealth.
Government of India is associated (A) 1985 (B) 1986 4. accumulation of intangible
with which of the following? (C) 1987 (D) 1988 wealth.
[UPPCS (Pre) 2018] 23. The Human Development Index Which of the statement(s) given
(A) Agriculture (HDI) was first developed by which above is/are correct?
(B) Communication of the following? [UPPCS (Pre) 2018] [UPSC (Pre) 2018]
(C) Health (A) UNDP (B) IMF (A) 1 and 2 (B) Only 2
(D) Education (C) UNICEF (D) UNCTAD (C) 2 and 4 (D) 1, 3 and 4
Answer Sheet
1. (C) 2. (B) 3. (A) 4. (C) 5. (C) 6. (B) 7. (B) 8. (D) 9. (A) 10. (B)
11. (B) 12. (B) 13. (A) 14. (C) 15. (A) 16. (C) 17. (A) 18. (B) 19. (C) 20. (C)
21. (D) 22. (A) 23. (A) 24. (C)
20. Poverty and Population

1. Critical minimum effort theory was while birth rate continues to be (B) Population Trap
designed by which of the following high (C) Population Crisis
given economist? [HCS (Pre) 2014] 5. At present the National Commis- (D) None of the above
(A) H. Leibenstein sion on Population is under 9. Which Indian state has the highest
(B) Rosentein Rodan [HPPSC (Pre) 2011] percentage of children suffering
(C) W.W. Rostow (A) Planning Commission from malnutrition? [RAS (Pre) 2015]
(D) None of the above (B) Ministry of Human Resource (A) Madhya Pradesh
2. What is the density of population of Development (B) Rajasthan
National level in India according to (C) Cabinet Secretariat (C) Jharkhand
2011 Census? [HPPSC (Pre) 2010] (D) Ministry of Health (D) Bihar
(A) 326 persons per sq. kilometer 6. To eradicate the problem of pov- 10. Which of the following committees
(B) 367 persons per sq. kilometer erty, Twenty Point Economic Pro- is related to the estimation of
(C) 382 persons per sq. kilometer gramme was launched for the first poverty in India? [RAS (Pre) 2013]
(D) 398 persons per sq. kilometer time in India on [HCS (Pre) 2014] (A) Vijay Kelkar Committee
3. According to the Census 2011, the (A) 7th July, 1971 (B) Suresh Tendulkar Committee
percentage of India’s population to (B) 7th July, 1975 (C) S.P. Gupta Committee
the world population is (C) 26th January, 1951 (D) Lakdawala Committee
[UPPCS (Mains) 2012] (D) 15 August, 1983 11. Poverty level in India is established
(A) 16 (B) 16.5 7. Which among below is the on the basis of
(C) 17.5 (D) 18 economic effect of population [UPPCS (Mains) 2008, (Pre) 2009]
4. India is at which of following stages pressure in India? [HCS (Pre) 2014] (A) per capita income in different
of Demographic Transition? (A) Higher burden of unproductive states
[UPPCS (Mains) 2012] consumers on total population (B) household average income
(A) Population level stabilises with (B) Disintegration of family (C) household consumer
number of births and deaths (C) Overcrowding of cities expenditure
being low and equal (D) Ecological degradation (D) slum population in the country
(B) Birth rates and death rates are 8. When the population growth rate 12. Tendulkar Committee has
both low of an economy becomes greater estimated that in India the
(C) Reduction in birth rate but than the achievable economic percentage of the population below
the reduction in death rate is growth, it is known as poverty line is [UPPCS (Pre) 2012]
higher than reduction in birth [HCS (Pre) 2014]
(A) 27.2 (B) 37.2
rate (A) Population Explosion (C) 22 (D) 32.7
(D) Reduction in mortality rate
13. Who conducts the periodical (B) National Maternity Benefit (C) Reducing infant mortality rate
sample survey for estimating the Scheme (D) Privatisation of higher
poverty line in India? (C) Mahila Samakhya education
[HPPSC (Pre) 2016] (D) Reproductive and Child Health 28. When population experts refers to
(A) Niti Aayog Scheme the possible ‘Demographic Bonus’
(B) CSO 22. The concept of ‘Vicious Circle of that may accrue to India around
(C) NSSO Poverty’ is related to 2016, they are referring to phe-
(D) Ministry of Social Justice [UPPCS (Pre) 2014] nomenon of [UPPCS (Mains) 2009]
14. How many people in India live (A) Karl Marx (A) a surge in population in
below poverty line? (B) Nurkse productive age group
[MPPCS (Pre) 2010] (C) Adam Smith (B) a sharp drop in total population
(A) 29.5% (B) 23.5% (D) None of these (C) a decline in birth and death
(C) 40.5% (D) 27.5% 23. Which among the following in India rates
15. According to Malthusian Theory of is the Nodal agency for estimation (D) a well balanced sex ratio
Population, population increases of poverty at the National and State 29. According to Census 2011, the
in [UPPCS (Pre) 2014] level? [UPPCS (Pre) 2016] state having the highest density of
(A) Geometrical Progression (A) Finance Committee population is [UPPCS (Mains) 2013]
(B) Arithmetic Progression (B) Rural Ministry (A) Bihar
(C) Harmonic Progression (C) Home Ministry (B) Kerala
(D) None of the above (D) Planning Commission (C) Uttar Pradesh
16. In India, life expectancy is 24. The census projection report shows (D) West Bengal
[HPPSC (Pre) 2016] that India is one of the youngest 30. According to Census 2011, which
(A) 68.8 years (B) 71.2 years nation in the world. In year 2020, of the following states of India
(C) 75.5 years (D) 65.3 years average age of Indians will be of has lowest percentage of Urban
[UPPCS (Pre) 2016] population to its total population?
17. Which one of the following year
(A) 27 years [UPPCS (Mains) 2012]
is known as the ‘year of the Great
Divide’ with regard to population (B) 28 years (A) Himachal Pradesh
after which there has been a (C) 29 years (B) Odisha
continuous and rapid growth in (D) 30 years (C) Jharkhand
India’s population? 25. Consider the following statements. (D) Rajasthan
[UPPCS (Pre) 2009] 1. Infant Mortality Rate takes into 31. According to Census 2011, the
(A) 1911 (B) 1921 accounts the death of infants most urbanised state of India is
(C) 1941 (D) 1951 within a month after birth. [UPPCS (Mains) 2012]
18. Which one of the following pairs is 2. Infant Mortality Rate is the (A) Kerala
not correctly matched? number of infants deaths in a (B) Maharashtra
[UPPCS (Pre) 1997] particular year 100 live births (C) Goa
Decade Decadal growth during that year. (D) Nagaland
rate of population Which of the statement(s) given 32. Under the National Population
(in percent) above is/are correct? Policy 2000, the goal to attain
(A) 1971-1981 24.66 [UPSC (Pre) 2009] population stagnation has been
(B) 1981-1991 23.87 (A) Only 1 raised from 2045 to
(C) 1991-2001 21.54 (B) Only 2 [UPPCS (Mains) 2014]
(D) 2001-2011 19.05 (C) Both 1 and 2 (A) 2055
19. Population growth in India during (D) Neither 1 nor 2 (B) 2060
the decade 2001-2012 was 26. India is regarded as a country with (C) 2065
[UPPCS (Mains) 2014] ‘Demographic Dividend’. This is (D) 2070
(A) 17.6% (B) 19.5% due to [UPPSC (Pre) 2011] 33. As per Census 2011, the Total
(C) 21% (D) 22% (A) its high population in the age Fertility Rate of India is
20. The National Rural Health Mission group below 15 years [UPPCS (Mains) 2016]
was launched on [UPPCS (Pre) 2005] (B) its high population in the age (A) 3.2
(A) August 15, 2002 group of 15-64 years (B) 2.9
(B) March 31, 2003 (C) its high population in the age (C) 2.6
group above 65 years (D) 2.4
(C) June 18, 2004
(D) April 12, 2005 (D) its high to total population 34. The size of marginal land-holding
21. The proposed ‘Janani Suraksha 27. To obtain full benefits of in India is [BPSC (Pre) 2018]
Scheme’ will replace demographic dividend what should (A) more than 5 hectares
[UPPCS (Pre) 2005]
India do? [UPSC (Pre) 2013] (B) 2 hectares to 4 hectares
(A) Maternity and Child Health (A) Promoting skill development (C) 1 hectare to 2 hectares
Scheme (B) Introducing more social (D) less than 1 hectare
security schemes
35. Find the correct poverty estimates (A) Central Council of Ministers Reason (R): 1951 is called the
for the given states in 2011-12, as (B) Lok Sabha demographic divide in India’s
per the Planning Commission. (C) Rajya Sabha demographic history.
[HPPSC (Pre) 2018] (D) Planning Commission (Niti Choose the correct answer from the
(A) Arunachal Pradesh Aayog) codes given below.
34.7%, 33.7%, 36.9%, 34.7% 37. Which of the following Committees [UPPCS (Pre) 2000]
(B) Bihar was set up in India for identification Code
39.9%, 36.9%, 39.9%, 33.7% of BPL families in Urban Areas? (A) Both (A) and (R) are true and
(C) Chhattisgarh [UPPCS (Pre) 2018] (R) is the correct explanation of
36.9%, 34.7%, 33.7%, 33.9% (A) Tendulkar Committee (A)
(D) Manipur (B) Saxena Committee (B) Both (A) and (R) are true,
33.7%, 39.9%, 34.4%, 36.9% (C) Lakdawala Committee but (R) is not the correct
36. Which of the following fixes the (D) Hashim Committee explanation of (A)
poverty line in India? 38. Assertion (A): India has (C) (A) is true, but (R) is false
[UPPCS (Pre) 2018] experienced a Phenomenal growth (D) (A) is false, but (R) is true
of population since 1951.
Answer Sheet
1. (A) 2. (C) 3. (C) 4. (C) 5. (D) 6. (B) 7. (A) 8. (B) 9. (D) 10. (B)
11. (C) 12. (C) 13. (C) 14. (A) 15. (A) 16. (A) 17. (B) 18. (D) 19. (A) 20. (D)
21. (B) 22. (B) 23. (D) 24. (C) 25. (D) 26. (B) 27. (A) 28. (A) 29. (A) 30. (A)
31. (C) 32. (D) 33. (D) 34. (D) 35. (D) 36. (D) 37. (D) 38. (C)
21. Employment and Public Welfare Schemes

1. Which of the following plans is (A) 1st April, 2014 of ` 1,000, ` 5,000, ` 10,000
meant for constructing houses for (B) 28th August, 2014 and ` 50,000.
rural people? [UPPCS (Pre) 2011] (C) 26th January, 2015 2. There will be no upper ceiling
(A) Indra Avas Yojana (D) None of the above on investment.
(B) Ambedkar Avas Yojana 6. Disguised unemployment generally 3. No tax benefits would be
(C) PURA means [HPPSC (Pre) 2014] available on these investments.
(D) None of the above (A) large number of people remain Answer(s) is/are
2. Unemployment may result when unemployed [HPPSC (Pre) 2014]
some workers are temporarily out (B) alternative employment is not (A) Only 1 (B) Only 2
of work while changing job available (C) Only 1 and 3 (D) All of these
[HCS (Pre) 2014] (C) marginal productivity of labour 9. Unemployment problem leads to
(A) Seasonal (B) Disguised is zero poverty because [UKPCS (Pre) 2011]
(C) Frictional (D) Technical (D) productivity of worker is low (A) people living below poverty
3. Trace the mismatch between 7. The Mudra Yojana of Government line increase
the policy and its year of of India is designed to (B) there is rapid increase in
announcement in the pairs given [RAS (Pre) 2015] population
below. [HCS (Pre) 2014] (A) initiate reforms in the currency (C) it increases inflation
(A) National Water Policy - 2002 management (D) it leads to rise in interest rate
(B) New National Forest Policy - (B) provide loans to poor farmers 10. Government of India has launched
1988 (C) supplement the Jan Dhan a scheme of ‘Housing for All’ by the
(C) New National Mineral Policy - Yojana year [RAS (Pre) 2015]
2008 (D) provide easy financial (A) 2020 (B) 2021
(D) National Population Policy - assistance to set up small (C) 2022 (D) 2023
2012 business 11. The thrust areas of Atal Mission
4. NREGA was renamed ‘MNREGA’ 8. Modi Government relaunched the for Rejuvenation and Urban
on [UKPCS (Pre) 2014] Kisan Vikas Patra (KVP) investment Transformation (AMRUT) include
(A) 2nd October, 2007 scheme to tap household savings 1. Water supply
(B) 2nd February, 2008 for funding infrastructure 2. Sewerage facilities
(C) 2nd October, 2009 development in the country. 3. Public transport facilities
(D) 2nd October, 2010 Consider the following statements 4. Creation of parks and
5. Pradhan Mantri JAN DHAN about this and pick the correct recreation centres especially
YOJANA was launched on statement. for children
[HPPSC (Pre) 2015] 1. The saving instrument will be 5. Store water drain to reduce
available in the denomination flooding
Select the correct answer from the (C) Ministry of Programme 22. Which one of the following is not
codes given below. [RAS (Pre) 2015] implementation a component of ‘Bharat Nirman’
(A) 1, 2 and 5 (D) Ministry of Human Resource launched in 2005-2006?
(B) 1, 2 and 3 Development [UPPCS (Pre) 2015, 2016]
(C) 2, 3, 4 and 5 17. What was unemployment rate (A) Rural housing
(D) 1, 2, 3, 4 and 5 during 2015-16 based on Usual (B) Drinking water
12. AMRUT was launched on Principal Status in India? (C) Rural sanitation
[HPPSC (Pre) 2016] (D) Rural roads
[HPPSC (Pre) 2016]
(A) 25 June, 2015 to improve basic (A) 8.7% (B) 7.8% 23. Which one of the following is not a
urban infrastructure in 500 (C) 5.0% (D) 4.2% measure of reducing inequalities?
cities 18. ‘Swadhar Yojana’ is related with [UPPCS (Pre) 2009]
(B) 25 June, 2015 to improve basic [UPPCS (Pre) 2004, 2013] (A) Minimum needs programme
amenities in 500 cities (A) strengthening architectural (B) Liberalisation of economy
(C) 25 June, 2015 to improve basic monuments (C) Taxation
urban infrastructure in cities (B) helping women in difficult (D) Land Reforms
(D) 25 June, 2016 to improve circumstances in life 24. Consider following statements
availability of safe drinking (C) creating self employment about Rashtriya Krishi Vikas Yojana
water in urban areas opportunities for technically and state which one of them is
13. Consider the following statements skilled persons incorrect? [UPPCS (Pre) 2009]
about the Pradhan Mantri Ujjwala (D) providing training to workers
(A) It was launched during 2007-
Yojana. who have been prematurely
2008
separated from the job
1. The scheme provides free (B) It envisages an outlay of
LPG connection to the women 19. Which one of the following is true ` 25,000 crore for the Eleventh
belonging to Below Poverty for ‘Swajal dhara’ scheme? Five Year Plan
Line (BPL) households. [UPPCS (Pre) 2004]
(C) Additional central assistance
2. ` 8000 crore has been ear- (A) It is owned by the state under the scheme would be
marked under the scheme. government available as 80% grant to the
3. The scheme provides a (B) It is owned by the central states
financial support of ` 2800 for government
(D) Activities under yojana include
each LPG connection to the BPL (C) It is owned by state government integrated development
households. and local bodies of food crops, agriculture
4. The scheme will benefit 5 crore (D) It is owned by the central mechanisation, development of
BPL families across the nation. government and the local rainfed farming etc.
community
Which of the above statements are 25. National Renewal Fund was
correct? [RAS (Pre) 2016]
20. Which of the following items of constituted for the purpose of
works are included in Bharat [UPPCS (Pre) 2010]
(A) 1 and 2 (B) 1 and 3
Nirman? Find your answer with the
(C) 1, 3 and 4 (D) 1, 2 and 4 (A) Providing pension for retiring
help of given codes.
14. Choose the correct answer in the employees
[UPPCS (Pre) 2009]
context of PAHAL scheme (B) Social security
1. Accelerated irrigation benefits (C) Rural reconstruction
[RAS (Pre) 2016]
programme (D) Restructuring and Modernisa-
(A) It is first variety of JAM
2. Inter-linking of River projects tion of Industries
(B) It transfers LPG subsidy via
DBT 3. Scheme for repair, renovation 26. ‘Swabhiman Scheme’ launched in
and restoration of water bodies India is associated with
(C) It directly transfer LPG subsidy
into customer’s bank accounts 4. Rehabilitation of displaced [UPPCS (Pre) 2012]
(D) All of the above are true persons due to irrigation (A) Rural women rights
projects (B) Rural old people care
15. Scheme of Mid-day meals is not
concerned with [MPPCS (Pre) 2009] (A) Only 1 and 2 (C) Rural banking
(B) Only 1, 2 and 4 (D) Rural food security
(A) Educational Advancement
(B) Social Equity (C) Only 1, 2 and 3 27. ‘Pradhan Mantri Gramodaya
(D) All of four Yojana’ aims at [UPPCS (Pre) 2013]
(C) Right to Food
21. National rural drinking water (A) Meeting rural needs like
(D) Child Nutrition
programme is one of the primary education, healthcare,
16. Mid-day meal scheme is financed drinking water, housing rural
and managed by components of [UPPCS (Pre) 2015]
roads
[UPPCS (Pre) 2010] (A) Social protection program
(B) Alleviating poverty through
(A) Food and civil supply (B) Bharat Nirman micro-enterprises
department of State (C) Swarnjayanti Gram Swarojgar (C) Generating employment in
Governments Yojana rural area
(B) Department of Consumer (D) Poverty Alleviation (D) Strengthening Panchayati Raj
Affairs and Welfare programmes System in rural areas
28. Which one of the following age correct? [UPSC (Pre) 2001] (A) Only 1
groups is eligible for enrolment (A) Only 1 (B) 1 and 2 (B) Only 2
under ‘Sarva Shiksha Abhiyan’? (C) 2 and 3 (D) Only 3 (C) Both 1 and 2
[UPPCS (Pre) 2015, 2016] (D) Neither 1 nor 2
34. Which of the following is not
(A) 6-14 years (B) 6-15 years the recommendation of the task 38. In the context of Indian economy,
(C) 5-14 years (D) 5-15 years force on direct taxes under the consider the following pairs.
29. The Employment Assurance chairmanship of Dr. Vijay Kelkar in Term Most
Scheme envisages financial the year 2002? [UPPSC (Pre) 2004] Appropriate
assistance to rural areas for (A) Abolition of wealth tax Description
guaranteeing employment to at (B) Increase in the exemption limit 1. Melt down - Fall in stock
least [UPPSC (Pre) 1999]
of personal income to ` 1.20 prices
(A) 50% of the men and women lakh for widows 2. Recession - Fall in growth
seeking jobs in rural areas (C) Elimination of standard rate
(B) 50% of the men seeking jobs in deduction 3. Slow down - Fall in GDP
rural areas
(D) Exemption from tax on Which of the pair(s) given above
(C) one man and one woman in a dividends and capital gains is/are correctly matched?
rural family living below the from the listed equity [UPSC (Pre) 2010]
poverty line
35. What is the name of the scheme (A) Only 1 (B) 2 and 3
(D) one person in a rural landless which provides training and skills
household living below the (C) 1 and 3 (D) 1, 2 and 3
to women in traditional and non- 39. In order to comply with TRIPS
poverty line traditional trades?
30. ‘..... Instill into the vast millions agreement, India enacted the
[UPPSC (Pre) 2008] geographical Indications of goods.
of workers men and women
(A) Kishori Shakti Yojana (Registration and protection) Act,
who actually do the job a sense
partnership and of cooperative (B) Rashtriya Mahila Kosh 1999. The difference between a
performance ...’ (C) Swayamsiddha ‘Trade Mark’ and a geographical
(D) Swawlamban Indication is/are
The above passage relates to
[UPSC (Pre) 2000] 36. Consider the following statements 1. A trademark is an individual
with reference to Indira Gandhi or a company’s right whereas a
(A) Planned Development
National Old Age Pension Scheme geographical indication cannot
(B) Community Development be licensed.
Programme (IGNOAPS).
1. All persons of 60 years or above 2. A trademark can be licensed
(C) Panchayati Raj System whereas a geographical
belonging to the households
(D) Integrated Development indication is assigned to the
below poverty line in rural
Programme agricultural goods/products
areas are eligible.
31. When was the Community and handicraft only.
2. The central assistance
Development Programme started Which of the statement(s) given
under this scheme is at the
in India? [UPPCS (Mains) 2011] above is/are correct?
rate of ` 300 per month per
(A) 2nd October, 1950 A.D. beneficiary. Under the scheme, [Punjab PSC (Pre) 2017
(B) 2nd October, 1951 A.D. states have been urged to give UPSC (Pre) 2010]
(C) 2nd October, 1952 A.D. matching amounts. (A) Only 1
(D) 2nd October, 1953 A.D. Which of the statement(s) given (B) 1 and 2
32. When did the Community above is/are correct? (C) 2 and 3
Development Programme start in [UPSC (Pre) 2008] (D) 1, 2 and 3
India? [UPPCS (Mains) 2015] (A) Only 1 40. With reference to the National
(A) 1958 (B) 1955 (B) Only 2 Investment Fund which of the
(C) 1952 (D) 1951 (C) Both 1 and 2 disinvestment proceeds are routed,
consider the following statements.
33. With reference to power sector (D) Neither 1 nor 2
in India, consider the following 1. The assets in the National
37. With reference to the schemes
statements. Investment Fund are managed
launched by the Union
by the Union Ministry of
1. Rural electrification has been Government, consider the
Finance.
treated as a basic minimum following statements.
service under the Prime 2. The National Investment Fund
1. Ministry of Health and Family is to be maintained within the
Minister’s Gramodaya Yojana. Welfare launched the Rashtriya consolidation fund of India.
2. 100% Foreign Direct Swasthya Bima Yojana.
3. Certain Asset Management
Investment in power is allowed 2. Ministry of Textiles launched companies are appointed as the
without upper limit. the Rajiv Gandhi Shilpi fund manager.
3. The Union Ministry of Power Swasthya Bima Yojana. 4. A certain proportion of annual
has signed a memorandum of Which of the statement(s) given income is used for financing
understanding with 14 states. above is/are correct? select social sectors.
Which of these statement(s) is/are [UPSC (Pre) 2009]
Which of the statement(s) given (B) making the environment 53. What is the bank amount available
above is/are correct? country pollution free to Dalits and Women under
[UPSC (Pre) 2010] (C) making the urban areas of the ‘Standup India’? [HPPSC (Pre) 2018]
(A) 1 and 2 (B) Only 2 country pollution free (A) 1-10 lakh
(C) 3 and 4 (D) Only 3 (D) ending the Open Latrine (B) 10-50 lakh
41. Two of the schemes launched by the System in Rural areas (C) 10 lakh-1 crore
Government of India for women’s 46. ‘Small Farmers Development’ (D) 50 lakh-1 crore
development are Swadhar and Programme was started in the year 54. How many poor families will be
Swayam Siddha. As regards the [UPPCS (Mains) 2014]
provided with how much medical
difference between them, consider (A) 1974 (B) 1967 insurance per family in 2018-19?
the following statements. (C) 1980 (D) 1961 [HPPSC (Pre) 2018]
1. Swayam Siddha’s is meant for 47. PURA (Providing Urban Amenities (A) 10 crore and 3 lakh
those in difficult circumstances in Rural Areas) an ambitious
such as women survivors (B) 5 crore and 5 lakh
programme on Rural Development
of natural disasters or (C) 10 crore and 5 lakh
was introduced by
terrorism, women prisoners [UPPCS (Mains) 2014] (D) 3 crore and 10 lakh
released from jails, mentally (A) A.P.J. Abdul Kalam 55. Which of the following is the largest
challenged women etc., (B) Manmohan Singh rural employment programme in
whereas, Swadhar is meant India? [UPPCS (Pre) 2018]
(C) M.S. Swaminathan
for holistic empowerment of (A) MNREGA
women through self help group (D) Atal Bihari Vajpayee
48. Which one of the following (B) TRYSEM
(SHGs).
statements is not true about (C) Work for food
2. Swayam Siddha is implemented
Pradhan Mantri Suraksha Bima (D) Skill Development Programme
through local seld government
bodies or reputed voluntary Yojana? [UPPCS (Mains) 2015] 56. Which of the following is measured
organisations whereas (A) It is a personal accident cover by the Lorenz Curve?
Swadhar is implemented (B) It is open to anyone between [UPPCS (Pre) 2018]
through the ICDS units set up in the age of 18 and 50 years (A) Illiteracy
the states. (C) It is open to anyone between (B) Unemployment
Which of the statement(s) given the age of 18 and 70 years (C) Population growth rate
above is/are correct? (D) Premium payable is ` 12 per (D) Inequality of Income
[UPSC (Pre) 2010] annum 57. Which of the following is/are aim/
(A) Only 1 49. Which one of the following is not aims of ‘Digital India’ Plan of the
(B) Only 2 included in Eight Missions under Government of India?
(C) Both 1 and 2 India’s National Action Plan on 1. Formation of India’s own
(D) Neither 1 nor 2 Climate Change? Internet companies like China
[UPPCS (Mains) 2016] did.
42. Mid-day Meal Scheme was
launched in 1995 to promote (A) Solar Power 2. Established a policy framework
[UPPCS (Mains) 2009] (B) Afforestation to encourage overseas
(A) Adult literacy (C) Nuclear Power multinational corporations
(B) Universalisation of primary (D) Waste to energy conversion that collect Big Data to build
education 50. Atal Mission for Rejuvenation and their large data centers within
(C) Secondary education Urban Transformation (AMRUT) is our national geographical
associated with revamping of boundaries.
[UPPCS (Mains) 2016] 3. Connect many of our villages
43. ‘Skill Development Initiative’ has
(A) Urban infrastructure to the internet and bring Wi-Fi
been operationalised in
to many of our schools, public
[UPSC (Mains) 2010] (B) Urban sanitation
places major tourist centres.
(A) February, 2005 (C) Urban health
Select the correct answer using the
(B) March, 2005 (D) Urban education
codes given below.
(C) May, 2007 51. How many minimum hours of [UPSC (Pre) 2018]
(D) April, 2010 power supply is assured for rural
(A) Only 1 and 2
44. In which year Family Planning agriculture purpose in ‘Atal Jyoti
Yojana-2013’? [MPPSC (Pre) 2018] (B) Only 3
Programme was started in India? (C) Only 2 and 3
[UPPCS (Mains) 2011] (A) 10 (B) 12
(D) 1, 2 and 3
(A) 1950 (B) 1951 (C) 14 (D) 16
58. With reference to Pradhan Mantri
(C) 1952 (D) 1955 52. Which organisation is giving
Kaushal Vikas Yojana, consider the
45. Nirmal Bharat Abhiyan started financial support for ‘Tejaswini
following statements.
recently by Government of India Rural Women’s Empowerment
Programme’? [MPPSC (Pre) 2018] 1. It is the flagship scheme of
related to [UPPCS (Mains) 2012]
the Ministry of Labour and
(A) making Ganga, pollution free (A) IMF (B) IFC
Employment.
(C) IFAD (D) IIMA
2. It among other things, will also (c) Pradhanmantri Jan Dhan given below the lists.
impart training in soft skills, Yojana [UPPCS (Pre) 2014]
entrepreneurship, financial (d) Swavlamban Scheme List-I
and digital literacy. List-II (Its contact) (a) Sarva Shiksha Abhiyan
3. It aims to align the competencies 1. Women Empowerment (b) Sakshar Bharat
of the unregulated workforce (c) Operation Blackboard
2. Financial Inclusion
of the country to the National
3. New pension system (d) National Literacy Mission
Skill Qualification Framework.
4. IT Training List-II
above is/are correct? Code 1. 1987 2. 1988
[UPSC (Pre) 2018 (a) (b) (c) (d) 3. 2001 4. 2009
Assam PSC (Pre) 2018] (A) 4 2 3 1 Code
(A) Only 1 and 3 (B) 1 4 2 3 (a) (b) (c) (d)
(B) Only 2 (C) 2 3 4 1 (A) 1 2 3 4
(C) Only 2 and 3 (D) 3 1 2 4 (B) 4 3 2 1
(D) 1, 2 and 3 (C) 2 1 3 4
61. Match List-I with List-II and select
59. With reference to digital payments, the correct answer using the codes (D) 3 4 1 2
consider the following statements. given below the lists. 63. Match List-I with List-II and select
1. BHIM app allows the user to [UPPCS (Pre) 2004] the correct answer using the codes
transfer money to anyone with given below the lists.
List-I
a UPI-enabled bank account. [UPPCS (Pre) 1997]
(a) Swajaldhara Yojana
2. While a chip-pin debit card has List-I
(b) Hariyali Yojana
four factors of authentication, (a) Rashtriya Mahila Kosh
BHIM app has only two factors (c) Swarn Jayanti Gram Swarojgar
Yojana (b) Mahila Samriddhi Yojana
of authentication. (c) Indira Mahila Yojana
(d) Pradhan Mantri Gram Sadak
Which of the statement(s) given (d) Mahila Samakhya Programme
Yojana
above is/are correct? List-II
[UPSC (Pre) 2018] List-II
1. Rural connectivity 1. Empowerment of women
(A) Only 1 2. Education for women’s equality
2. Rural water supply
(B) Only 2 3. Promotion of savings among
3. Watershed Management
(C) Both 1 and 2 rural women
4. Rural self employment
(D) Neither 1 nor 2 4. Meeting credit needs of the
Code
60. Match List-I with List-II and select poor women
(a) (b) (c) (d)
the correct answer by using the Code
(A) 3 2 4 1
codes given below the lists. (a) (b) (c) (d)
[RAS (Pre) 2015] (B) 2 4 1 3
(A) 3 2 1 4
(C) 3 4 1 2
List-I (B) 1 3 4 2
(D) 2 3 4 1
(a) Nai Roshni Programme (C) 4 3 2 1
62. Match List-I with List-II and select
(b) DISHA the correct answer using the codes (D) 4 1 2 3
Answer Sheet
1. (A) 2. (C) 3. (D) 4. (C) 5. (B) 6. (C) 7. (D) 8. (D) 9. (A) 10. (C)
11. (D) 12. (C) 13. (D) 14. (D) 15. (C) 16. (D) 17. (C) 18. (B) 19. (D) 20. (C)
21. (B) 22. (C) 23. (B) 24. (C) 25. (B) 26. (C) 27. (A) 28. (A) 29. (C) 30. (B)
31. (C) 32. (C) 33. (B) 34. (B) 35. (D) 36. (C) 37. (B) 38. (A) 39. (B) 40. (C)
41. (D) 42. (D) 43. (C) 44. (C) 45. (D) 46. (A) 47. (A) 48. (B) 49. (C) 50. (A)
51. (B) 52. (C) 53. (C) 54. (C) 55. (A) 56. (D) 57. (B) 58. (C) 59. (A) 60. (B)
61. (D) 62. (D) 63. (C)
22. Miscellaneous
1. Which one of the following pairs is (C) IDBI - World Bank (A) high birth rate
correctly matched? (D) SBI - Commercial Bank (B) low level of foreign aid
[HPPSC (Pre) 2010] 8. ‘Green Index’ has been developed (C) low capital/output ratio
(A) Central Statistical Organisation by [UPPCS (Pre) 2014] (D) high capital/output ratio
(CSO) - Fiscal Policy (A) United Nations Environment 14. Which one of the following is
(B) Reserve Bank of India (RBI) - Programme correct regarding stabilisation
Credit Policy (B) International Monetary Fund and structural adjustment as two
(C) National Council for Applied (IMF) components of the new economic
Economics Research (NCAER) (C) World Bank policy adopted in India?
- India Economic Survey (D) None of the above [UPSC (Pre) 1996]
(D) Planning Commission - Compu- 9. Consider the following events and (A) Stabilisation is a gradual,
tation of National Income arrange these in Chronological Multi-step process while
2. Which one of the following Order. structural adjustment is a quick
represents atleast in part 1. Garibi Hatao adaptation process
investment in Human Capital?
2. Bank Nationalisation (B) Structural adjustment is a
[HPPSC (Pre) 2010]
3. Beginning of Green Revolution gradual multi-step process,
(A) Formal education while stabilisation is a quick
Select correct answer from the
(B) On the job training adaption process
codes given below.
(C) Better health care and nutrition [UPPCS (Pre) 2016] (C) Stabilisation and structural
(D) All of the above (A) 1, 2 and 3 (B) 3, 2 and 1 adjustment are very similar and
3. What is meant by Autarky in (C) 2, 1 and 3 (D) 3, 1 and 2 complementary policies. It is
International trade?[HCS (Pre) 2014] difficult to separate one from
10. Which of the following Economists
(A) Monopoly in international propagated the pure Monetary the other
trade Theory of Trade Cycle? (D) Stabilisation mainly deals with
(B) Imposition of restriction in [UKPCS (Pre) 2014] a set of policies which are to be
international trade (A) Hawtrey implemented by the Central
(C) Removal of all restrictions from (B) Hayek Government while structural
international trade adjustment is to be set in motion
(C) Keynes
(D) The idea of self-sufficiency by the State Governments
(D) Hicks
and no international trade by a 15. Hawala transactions relate to
country 11. Consider the following statements.
payments [UPSC (Pre) 1996]
4. Which country was the first to The objectives of the National
(A) received in rupees against
adopt a gold standard in the Renewal Fund setup in February,
overseas currencies and vice-
modern sense? [HCS (Pre) 2014] 1992 were
versa without going through
(A) Italy (B) France 1. To give training and counseling the official channels
(C) Great Britain (D) Portugal for workers affected by
(B) received for sale/transfer of
retrenchment.
5. Among the following sectors, shares without going through
which contributes most to the 2. Redevelopment of workers. the established stock exchanges
savings, in India [UPPCS (Pre) 2003] Which of these statement(s) is/are
(C) received as commission for
(A) Banking and Financial sector correct? [UPSC (Pre) 2001]
services rendered to overseas
(B) Export sector (A) Neither 1 nor 2 investors/buyers/seller in
(B) Both 1 and 2 assisting them to get ever the
(C) Household sector
(C) Only 1 red tape and / as in getting
(D) Private corporate sector
(D) Only 2 preferential treatment
6. Krishi Shramik Samajik Suraksha
12. Unemployment and poverty (D) made to political parties or to
Yojana is a scheme for providing
estimates in India are based on individuals for meeting election
[UPPCS (Pre) 2003]
[RAS/RTS (Pre) 2016] expense
(A) improved quality of life at
(A) NSSO household consumption 16. A consumer is said to be in
village level
expenditure survey equilibrium, if [UPSC (Pre) 1998]
(B) additional wage employment (B) CSO household consumption
(C) pension and insurance benefits (A) he is able to fulfil his need with
expenditure survey
(D) subsidised housing facilities a given level of income
(C) Planning Commission’s
7. Which of the following pairs is not household Consumption (B) he is able to live in full comforts
correctly matched? expenditure survey with a given level of income
[UPPCS (Pre) 2004] (D) NSSO family income survey (C) he can fulfil his needs without
(A) SEBI - Security Market 13. The main reason for low growth consumption of certain items
Regulatory Body rate in India inspite of high rate of (D) he is able to locate new sources
(B) RBI - Banking Regulatory savings and capital formation is of income
Authority [UPSC (Pre) 1995]
17. The supply-side economics lays (C) Tax reforms and measures to 27. In terms of PPP the Indian
greater emphasis on the point of increase revenues economy’s rank in the world is
view of [UPSC (Pre) 1998] (D) Price reforms in the oil sector [UPPCS (Mains) 2014]
(A) Producer 22. Which one of the following brings (A) 3rd (B) 4th
(B) Global economy out the publication called Energy (C) 6th (D) 10th
(C) Consumer Statistics from time-to-time? 28. Which one of the following pairs is
(D) Middle-man [UPSC (Pre) 2009] not correctly matched?
18. Consider the following statements. (A) Central Power Research [UPPCS (Mains) 2008]
Industrial development in India, to Institute (A) Goiporia Committee - Banking
an extent, is constrained by (B) Planning Commission Service Improvement
1. Lack of adequate entrepreneur- (C) Power Finance Corporation (B) Nanjundappa Committee -
ship and leadership in business. Limited Railway fares
2. Lack of savings to invest. (D) Central Statistical Organisation (C) Rangrajan Committee - Balance
3. Lack of technology, skills and 23. Among the following, which one of Payments
infrastructure. of the following was the purpose (D) Rekhi Committee -
4. Limited purchasing power for which the Deepak Parekh Simplification Export & Import
among the larger masses. Committee was constituted? 29. Despite being a high saving
[UPSC (Pre) 2009]
Which of the above statements are economy, capital formation may
(A) The study the current Socio- not result in significant increase in
economic conditions of certain output due to [UPSC (Pre) 2018]
(A) 1, 2 and 3 (B) 1, 3 and 4
minority communities
(C) 2, 3 and 4 (D) 1, 2 and 4 (A) weak administrative machinery
(B) To suggest measures for
19. Tourism industry in India is quite (B) illiteracy
financing the development of
small compared to many other infrastructure (C) high population density
countries in terms of India’s (C) To fame a policy on the (D) high capital-output ratio
potential and size. Which one of production of genetically 30. The first Union Territory of India to
the following statements is correct modified organisms run 100% on solar energy is
in this regard? [UPSC (Pre) 1999] [UP RO (Pre) 2018]
(D) To suggest measures to reduce
(A) Distances in India are too far the fiscal deficit in the Union (A) Chandigarh
apart and its luxury hotels Budget (B) Diu
are too expensive for western
24. Sustainable development is (C) Andaman-Nicobar
tourists
described as the development (D) Puducherry
(B) For most of the months India is that meet the needs of the present
too hot for western tourists to 31. According to India, State of Forest
without compromising the ability Report 2017, what percentage
feel comfortable of future generations to meet the
(C) Most of the picturesque resorts of total geographical area of the
needs perspective, inherently country is under forest cover?
in India such as in the North- the concept of sustainable
East and Kashmir are, for all [UP RO (Pre) 2018]
development is interwined with
practical purposes, out of which of the following concepts? (A) 21.04 (B) 21.54
bounds [UPSC (Pre) 2009] (C) 20.54 (D) 20.04
(D) In India, the infrastructure (A) Social Justice and 32. If a commodity is provided free
required for attractive tourists empowerment to the public by the Government,
is inadequate then [UPSC (Pre) 2018]
(B) Inclusive growth
20. In the context of independent (C) Globalisation (A) the opportunity cost is zero
India’s economy, which one of the (B) the opportunity cost is ignored
(D) Carrying capacity
following was the earliest event to (C) the opportunity cost is
take place? [UPSC (Pre) 2009] 25. In which of the following financial
years and the devaluation of rupee transferred from the consumers
(A) Nationalisation of Insurance of the product to the tax-paying
in India took place twice?
Company public
(B) Nationalisation of State Bank of (D) the opportunity cost is
India (A) 1966-67 (B) 1991-92
transferred from the
(C) Entactment of Banking (C) 1990-91 (D) 1989-90
consumers of the product to the
Regulation Act 26. RBI has cleared the resolution to Government
(D) Introduction of first Five Year start Payment Banks in India for
33. As per the NSSO 70th Round
Plan improving Financial inclusion.
‘Situation Assessment Survey of
Following committee had recom-
21. With which one of the following Agricultural Households’, consider
mended the creation of Payment
has the B.K. Chaturvedi Committee the following statements.
Banks. [UPPCS (Mains) 2014]
dealt? [UPSC (Pre) 2009] 1. Rajasthan has the highest
(A) Arvind Mayaram
(A) Review of Centre - State percentage share of agricultural
relations (B) Y.V. Reddy households among its rural
(B) Review of Delimitation Act (C) Bimal Jalan households.
(D) Nachiket Mor
2. Out of the total agricultural (c) Monetary Policy given below the lists.
households in the country, a (d) Indian Economy Planning and [UPSC (Pre) 1997]
little over 60 percent belong to State Land Reforms List-I (Committees)
OBCs. (e) Fiscal Policy (a) Disinvestment of Shares in
3. In Kerala, a little over 60 List-II (Name) Public Sector Enterprises
percent of agricultural 1. M. Govinda Rao (b) Industrial sickness
households reported to have (c) Tax Reforms
2. C. Rangrajan
received maximum income
3. Arvind Panagariya (d) Reforms in Insurance sector
from sources other than
agricultural activities. 4. Ashok Gulati List-II (Chaired by)
Which of the statement(s) given 5. Parthasarthy Shome 1. Rajah Chelliah
above is/are correct? Code 2. Omkar Goswami
[UPSC (Pre) 2018] (a) (b) (c) (d) (e) 3. R.N. Malhotra
(A) Only 2 and 3 (A) 2 4 1 3 5 4. C. Rangarajan
(B) Only 2 (B) 1 4 3 2 5 Code
(C) Only 1 and 3 (C) 5 4 2 3 1 (a) (b) (c) (d)
(D) 1, 2 and 3 (D) 5 4 3 2 1 (A) 1 4 2 3
34. Consider the following statements. 36. Assertion (A): An important (B) 4 2 1 3
1. The quantity of imported edible policy instrument of economic (C) 4 1 2 3
oils is more than the domestic liberalisation is reduction in import (D) 1 3 4 2
production of edible oils in the duties on capital good. 38. Match List-I with List-II and select
last five years. Reason (R): Reduction in the correct answer using the codes
2. The Government does not import duties would help the given below the lists.
impose any custom duty on all local entrepreneurs to improve [UPPCS (Mains) 2015
the imported edible oils as a technology to face the global Manipur PSC (Pre) 2016]
special case. markets. List-I
Which of the statement(s) given In the context of above two (a) Dutt Committee (1969)
above is/are correct? statements, which one of the (b) Wanchoo Committee (1971)
[UPSC (Pre) 2018 following is correct?
(c) Rajmannar Committee (1971)
Gujarat PSC (Pre) 2016] [UPSC (Pre) 1996
Kerala PSC (Pre) 2017]
(d) Chakarvarty Committee (1985)
(A) Only 1 List-II
(B) Only 2 Code
1. Industrial Licensing
(C) Both 1 and 2 (A) Both (A) and (R) are true and
(R) is the correct explanation of 2. Direct taxes
(D) Neither 1 nor 2
(A) 3. Centre-State
35. Match List-I with List-II and select 4. Monetary system
the correct answer using the codes (B) Both (A) and (R) are true,
given below the lists. but (R) is not the correct Code
[RAS/RTS (Pre) 2015] explanation of (A) (a) (b) (c) (d)
List-I (Specialisation) (C) (A) is true, but (R) is false (A) 1 2 3 4
(a) Taxation (D) (A) is false, but (R) is true (B) 1 2 4 3
(b) Agriculture 37. Match List-I with List-II and select (C) 4 3 2 1
the correct answer using the codes (D) 4 1 3 2
Answer Sheet
1. (B) 2. (D) 3. (D) 4. (C) 5. (C) 6. (C) 7. (C) 8. (C) 9. (B) 10. (A)
11. (C) 12. (A) 13. (D) 14. (B) 15. (A) 16. (A) 17. (A) 18. (C) 19. (D) 20. (C)
21. (D) 22. (D) 23. (B) 24. (D) 25. (B) 26. (D) 27. (A) 28. (D) 29. (D) 30. (B)
31. (B) 32. (C) 33. (C) 34. (A) 35. (C) 36. (A) 37. (B) 38. (A)

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Economic and Social Development 417

3. Economic Planning of India

4. Main Sectors of Indian Economy

(A) 1, 2 and 3 (B) 1, 2 and 4 (B) Irrigation Project (A) Rice

5. Inflation and Price Index

8. Public Finance (Tax)

10. Stock Exchange

11. Security Market and Insurance

12. Money and Banking

13. Liberalisation, Privatisation and Globalisation

14. Foreign Exchange Market

15. Balance of Payment

16. Foreign Direct Investment (FDI)

17. World Bank, WTO, BRICS

18. Other Institutions

19. Human Development

20. Poverty and Population

21. Employment and Public Welfare Schemes

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