Indian Economy PYQs

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1. Prelims 2017Q81Taxation

   What is/are the most likely advantages of implementing 'Goods and Services Tax (GST)' ?

   1.It will replace multiple taxes collected by multiple authorities and will thus create a single market in India.

   2.It will drastically reduce the 'Current Account Deficit' of India and will enable it to increase its foreign exchange reserves.

   3.It will enormously increase the growth and size of economy of India and will enable it to overtake China in the near future.

   Select the correct answer using the code given below :

   a1 onlyb2 and 3 onlyc1 and 3 onlyd1, 2 and 3
2. Prelims 2017Q82International Trade & WTO

   'Broad-based Trade and Investment Agreement (BTIA)' is sometimes seen in the news in the context of negotiations held between India and

   aEuropean UnionbGulf Cooperation CouncilcOrganization for Economic Cooperation and DevelopmentdShanghai Cooperation Organization
3. Prelims 2017Q83International Trade & WTO

   Consider the following statements :

   1.India has ratified the Trade Facilitation Agreement (TFA) of WTO.

   2.TFA is a part of WTO's Bali Ministerial Package of 2013.

   3.TFA came into force in January 2016.

   Which of the statements given above is/are correct ?

   a1 and 2 onlyb1 and 3 onlyc2 and 3 onlyd1, 2 and 3
4. Prelims 2017Q88Poverty, Unemployment & Social Sector

   What is the purpose of 'Vidyanjali Yojana' ?

   1.To enable the famous foreign educational institutions to open their campuses in India.

   2.To increase the quality of education provided in government schools by taking help from the private sector and the community.

   3.To encourage voluntary monetary contributions from private individuals and organizations so as to improve the infrastructure facilities for primary and secondary schools.

   Select the correct answer using the code given below :

   a2 onlyb3 onlyc1 and 2 onlyd2 and 3 only
5. Prelims 2017Q89Poverty, Unemployment & Social Sector

   What is the aim of the programme 'Unnat Bharat Abhiyan' ?

   aAchieving 100% literacy by promoting collaboration between voluntary organizations and government's education system and local communities.bConnecting institutions of higher education with local communities to address development challenges through appropriate technologies.cStrengthening India's scientific research institutions in order to make India a scientific and technological power.dDeveloping human capital by allocating special funds for health care and education of rural and urban poor, and organizing skill development programmes and vocational training for them.
6. Prelims 2017Q94Fiscal Policy & Budget

   Consider the following statements :

   1.Tax revenue as a percent of GDP of India has steadily increased in the last decade.

   2.Fiscal deficit as a percent of GDP of India has steadily increased in the last decade.

   Which of the statements given above is/are correct ?

   a1 onlyb2 onlycBoth 1 and 2dNeither 1 nor 2
7. Prelims 2016Q2International Organisations & Reports

   Which of the following is/are the indicator/indicators used by IFPRI to compute the Global Hunger Index Report?

   1.Undernourishment

   2.Child stunting

   3.Child mortality

   Select the correct answer using the code given below.

   a1 onlyb2 and 3 onlyc1, 2 and 3d1 and 3 only
8. Prelims 2016Q3Fiscal Policy & Budget

   There has been a persistent deficit budget year after year. Which action/actions of the following can be taken by the Government to reduce the deficit?

   1.Reducing revenue expenditure

   2.Introducing new welfare schemes

   3.Rationalizing subsidies

   4.Reducing import duty

   Select the correct answer using the code given below.

   a1 onlyb2 and 3 onlyc1 and 3 onlyd1, 2, 3 and 4
9. Prelims 2016Q4Money & Banking

   The establishment of 'Payment Banks' is being allowed in India to promote financial inclusion. Which of the following statements is/are correct in this context?

   1.Mobile telephone companies and supermarket chains that are owned and controlled by residents are eligible to be promoters of Payment Banks.

   2.Payment Banks can issue both credit cards and debit cards.

   3.Payment Banks cannot undertake lending activities.

   Select the correct answer using the code given below.

   a1 and 2 onlyb1 and 3 onlyc2 onlyd1, 2 and 3
10. Prelims 2016Q7Industry & Infrastructure

    Which one of the following is a purpose of 'UDAY', a scheme of the Government?

    aProviding technical and financial assistance to start-up entrepreneurs in the field of renewable sources of energybProviding electricity to every household in the country by 2018cReplacing the coal-based power plants with natural gas, nuclear, solar, wind and tidal power plants over a period of timedProviding for financial turnaround and revival of power distribution companies
11. Prelims 2016Q8Financial Markets & Institutions

    With reference to 'IFC Masala Bonds', sometimes seen in the news, which of the statements given below is/are correct?

    1.The International Finance Corporation, which offers these bonds, is an arm of the World Bank.

    2.They are the rupee-denominated bonds and are a source of debt financing for the public and private sector.

    Select the correct answer using the code given below.

    a1 onlyb2 onlycBoth 1 and 2dNeither 1 nor 2
12. Prelims 2016Q11International Trade & WTO

    In the context of which of the following do you sometimes find the terms 'amber box, blue box and green box' in the news?

    aWTO affairsbSAARC affairscUNFCCC affairsdIndia-EU negotiations on FTA
13. Prelims 2016Q12Fiscal Policy & Budget

    Which of the following is/are included in the capital budget of the Government of India?

    1.Expenditure on acquisition of assets like roads, buildings, machinery, etc.

    2.Loans received from foreign governments

    3.Loans and advances granted to the States and Union Territories

    Select the correct answer using the code given below.

    a1 onlyb2 and 3 onlyc1 and 3 onlyd1, 2 and 3
14. Prelims 2016Q14International Organisations & Reports

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

    aRoublebRandcIndian RupeedRenminbi
15. Prelims 2016Q15International Organisations & Reports

    With reference to the International Monetary and Financial Committee (IMFC), consider the following statements :

    1.IMFC discusses matters of concern affecting the global economy, and advises the International Monetary Fund (IMF) on the direction of its work.

    2.The World Bank participates as observer in IMFC's meetings.

    Which of the statements given above is/are correct?

    a1 onlyb2 onlycBoth 1 and 2dNeither 1 nor 2
16. Prelims 2016Q18External Sector: BoP, FDI & Exchange Rate

    Which of the following best describes the term 'import cover', sometimes seen in the news?

    aIt is the ratio of value of imports to the Gross Domestic Product of a countrybIt is the total value of imports of a country in a yearcIt is the ratio between the value of exports and that of imports between two countriesdIt is the number of months of imports that could be paid for by a country's international reserves
17. Prelims 2016Q21Agriculture & Food Security

    With reference to 'Pradhan Mantri Fasal Bima Yojana', consider the following statements :

    1.Under this scheme, farmers will have to pay a uniform premium of two percent for any crop they cultivate in any season of the year.

    2.This scheme covers post-harvest losses arising out of cyclones and unseasonal rains.

    Which of the statements given above is/are correct?

    a1 onlyb2 onlycBoth 1 and 2dNeither 1 nor 2
18. Prelims 2016Q24Agriculture & Food Security

    Why does the Government of India promote the use of 'Neem-coated Urea' in agriculture?

    aRelease of Neem oil in the soil increases nitrogen fixation by the soil microorganismsbNeem coating slows down the rate of dissolution of urea in the soilcNitrous oxide, which is a greenhouse gas, is not at all released into atmosphere by crop fieldsdIt is a combination of a weedicide and a fertilizer for particular crops
19. Prelims 2016Q29Money & Banking

    The term 'Core Banking Solutions' is sometimes seen in the news. Which of the following statements best describes/describe this term?

    1.It is a networking of a bank's branches which enables customers to operate their accounts from any branch of the bank on its network regardless of where they open their accounts.

    2.It is an effort to increase RBI's control over commercial banks through computerization.

    3.It is a detailed procedure by which a bank with huge non-performing assets is taken over by another bank.

    Select the correct answer using the code given below.

    a1 onlyb2 and 3 onlyc1 and 3 onlyd1, 2 and 3
20. Prelims 2016Q32Poverty, Unemployment & Social Sector

    'Mission Indradhanush' launched by the Government of India pertains to

    aimmunization of children and pregnant womenbconstruction of smart cities across the countrycIndia's own search for the Earth-like planets in outer spacedNew Educational Policy