Indian Economy PYQs

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1. Prelims 2015Q13Agriculture & Food Security

   The Fair and Remunerative Price (FRP) of sugarcane is approved by the

   aCabinet Committee on Economic AffairsbCommission for Agricultural Costs and PricescDirectorate of Marketing and Inspection, Ministry of AgriculturedAgricultural Produce Market Committee
2. Prelims 2015Q21International Organisations & Reports

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

   aThe Asian Development BankbThe European Bank for Reconstruction and DevelopmentcThe US Federal Reserve BankdThe World Bank
3. Prelims 2015Q22Money & Banking

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

   aIndia's GDP growth rate increases drasticallybForeign Institutional Investors may bring more capital into our countrycScheduled Commercial Banks may cut their lending ratesdIt may drastically reduce the liquidity to the banking system
4. Prelims 2015Q24Agriculture & Food Security

   In India, markets in agricultural products are regulated under the

   aEssential Commodities Act, 1955bAgricultural Produce Market Committee Act enacted by StatescAgricultural Produce (Grading and Marking) Act, 1937dFood Products Order, 1956 and Meat and Food Products Order, 1973
5. Prelims 2015Q29Inflation

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

   aThe Reserve Bank of IndiabThe Department of Economic AffairscThe Labour BureaudThe Department of Personnel and Training
6. Prelims 2015Q31International Trade & WTO

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

   aFood and Agriculture OrganizationbUnited Nations Framework Conference on Climate ChangecWorld Trade OrganizationdUnited Nations Environment Programme
7. Prelims 2015Q34External Sector: BoP, FDI & Exchange Rate

   Convertibility of rupee implies

   abeing able to convert rupee notes into goldballowing the value of rupee to be fixed by market forcescfreely permitting the conversion of rupee to other currencies and vice versaddeveloping an international market for currencies in India
8. Prelims 2015Q42Planning & NITI Aayog

   The Government of India has established NITI Aayog to replace the

   aHuman Rights CommissionbFinance CommissioncLaw CommissiondPlanning Commission
9. Prelims 2015Q60Fiscal Policy & Budget

   With reference to the Union Government, consider the following statements :

   1.The Department of Revenue is responsible for the preparation of Union Budget that is presented to the Parliament.

   2.No amount can be withdrawn from the Consolidated Fund of India without the authorization from the Parliament of India.

   3.All the disbursements made from Public Account also need the authorization from the Parliament of India.

   Which of the statements given above is/are correct?

   a1 and 2 onlyb2 and 3 onlyc2 onlyd1, 2 and 3
10. Prelims 2015Q62Agriculture & Food Security

    Consider the following statements :

    1.The Accelerated Irrigation Benefits Programme was launched during 1996–97 to provide loan assistance to poor farmers.

    2.The Command Area Development Programme was launched in 1974–75 for the development of water-use efficiency.

    Which of the statements given above is/are correct?

    a1 onlyb2 onlycBoth 1 and 2dNeither 1 nor 2
11. Prelims 2015Q65Money & Banking

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

    adevelop national strategies for the conservation and sustainable use of biological diversitybimprove banking sector's ability to deal with financial and economic stress and improve risk managementcreduce the greenhouse gas emissions but places a heavier burden on developed countriesdtransfer technology from developed countries to poor countries to enable them to replace the use of chlorofluorocarbons in refrigeration with harmless chemicals
12. Prelims 2015Q81National Income & Growth

    With reference to Indian economy, consider the following statements :

    1.The rate of growth of Real Gross Domestic Product has steadily increased in the last decade.

    2.The Gross Domestic Product at market prices (in rupees) has steadily increased in the last decade.

    Which of the statements given above is/are correct?

    a1 onlyb2 onlycBoth 1 and 2dNeither 1 nor 2
13. Prelims 2015Q86Money & Banking

    With reference to Indian economy, consider the following :

    1.Bank rate

    2.Open market operations

    3.Public debt

    4.Public revenue

    Which of the above is/are component/components of Monetary Policy?

    a1 onlyb2, 3 and 4c1 and 2d1, 3 and 4
14. Prelims 2015Q87Inflation

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

    aControlling the inflation in India is the responsibility of the Government of India onlybThe Reserve Bank of India has no role in controlling the inflationcDecreased money circulation helps in controlling the inflationdIncreased money circulation helps in controlling the inflation
15. Prelims 2015Q90National Income & Growth

    The substitution of steel for wooden ploughs in agricultural production is an example of

    alabour-augmenting technological progressbcapital-augmenting technological progressccapital-reducing technological progressdNone of the above
16. Prelims 2015Q94External Sector: BoP, FDI & Exchange Rate

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

    agoods and servicesbgold and silvercdollars and other hard currenciesdexportable surplus
17. Prelims 2015Q97Agriculture & Food Security

    Which one of the following best describes the main objective of ‘Seed Village Concept’?

    aEncouraging the farmers to use their own farm seeds and discouraging them to buy the seeds from othersbInvolving the farmers for training in quality seed production and thereby to make available quality seeds to others at appropriate time and affordable costcEarmarking some villages exclusively for the production of certified seedsdIdentifying the entrepreneurs in villages and providing them technology and finance to set up seed companies
18. Prelims 2015Q98Fiscal Policy & Budget

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

    1.Reducing revenue expenditure

    2.Introducing new welfare schemes

    3.Rationalizing subsidies

    4.Expanding industries

    Select the correct answer using the code given below.

    a1 and 3 onlyb2 and 3 onlyc1 onlyd1, 2, 3 and 4
19. Prelims 2015Q100Money & Banking

    With reference to the Indian Renewable Energy Development Agency Limited (IREDA), which of the following statements is/are correct?

    1.It is a Public Limited Government Company.

    2.It is a Non-Banking Financial Company.

    Select the correct answer using the code given below.

    a1 onlyb2 onlycBoth 1 and 2dNeither 1 nor 2
20. Prelims 2014Q4Agriculture & Food Security

    Consider the following pairs :

    Programme/Project : Ministry

    1.Drought-Prone Area Programme : Ministry of Agriculture

    2.Desert Development Programme : Ministry of Environment and Forests

    3.National Watershed Development Project for Rainfed Areas : Ministry of Rural Development

    Which of the above pairs is/are correctly matched?

    a1 and 2 onlyb3 onlyc1, 2 and 3dNone