Indian Economy PYQs

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1. Prelims 1997Q8Industry & InfrastructureAnswer disputed

   The number of industries for which industrial licensing is required has now been reduced to

   a15b6c35d20
2. Prelims 1997Q17Money & Banking

   The sum of which of the following constitutes Broad Money in India?

   I.Currency with the Public

   II.Demand deposits with banks

   III.Time deposits with banks

   IV.Other deposits with RBI

   Choose the correct answer using the codes given below:

   aI and IIbI, II and IIIcI, II, III and IVdI, II and IV
3. Prelims 1997Q29Industry & Infrastructure

   Match List I with List II and select the correct answer by using the codes given below the lists:

   List I (Committees)

   I.Disinvestment of shares in Public Sector Enterprises

   II.Industrial Sickness

   III.Tax Reforms

   IV.Reforms in Insurance Sector

   List II (Chaired by)

   A) Rajah Chelliah

   B) Onkar Goswami

   C) R. N. Malhotra

   D) C. Rangarajan

   Codes:

   aI–A, II–D, III–B, IV–CbI–D, II–B, III–A, IV–CcI–D, II–A, III–B, IV–CdI–A, II–C, III–D, IV–B
4. Prelims 1997Q35International Trade & WTO

   One of the important agreements reached in the 1996 Ministerial Conference of WTO relates to

   aCommerce in Information TechnologybMultilateral Agreement on InvestmentcMulti-fibre AgreementdExchange of Technical Personnel
5. Prelims 1997Q46National Income & Growth

   Human Development Index comprises literacy rates, life expectancy at birth and

   aGross Domestic Product per head in US dollarsbGross Domestic Product per head at real purchasing powercGross National Product in US dollarsdNational Income per head in US dollars
6. Prelims 1997Q53International Trade & WTOAnswer disputed

   Match List I with List II and select the correct answer by using the codes given below the lists:

   List I (Commodities exported from India)

   A.Iron-ore

   B.Leather goods

   C.Tea

   D.Cotton fabrics

   List II (Countries of destination)

   1.Russia

   2.USA

   3.Japan

   4.UK

   5.Canada

   aA-5, B-1, C-2, D-3bA-3, B-1, C-4, D-2cA-1, B-5, C-4, D-3dA-3, B-4, C-1, D-2
7. Prelims 1997Q67Inflation

   In India, inflation is measured by the

   aWholesale Price Index NumberbConsumers Price Index for urban non-manual workerscConsumers Price Index for agricultural workersdNational Income deflation
8. Prelims 1997Q80Planning & NITI Aayog

   The Sixth and the Eighth Five-Year Plans covered the period 1980-85 and 1992-97 respectively. The Seventh Five-Year Plan covered the period

   a1987-92b1986-91c1985-90d1988-94
9. Prelims 1997Q89Poverty, Unemployment & Social Sector

   Schemes of (i) Urban Micro Enterprises, (ii) Urban Wage Employment, and (iii) Housing and Shelter Upgradation are parts of

   aIntegrated Rural Development ProgrammebNehru Rozgar YojanacJawahar Rozgar YojanadPrime Minister’s Rozgar Yojana
10. Prelims 1997Q93Industry & Infrastructure

    The contribution of India’s small-scale sector to the gross turnover in the manufacturing sector since 1992 has been of the order of

    a40%b34%c30%d45%
11. Prelims 1997Q97Fiscal Policy & Budget

    Which of the following come under Non-plan expenditure?

    I.Subsidies

    II.Interest payments

    III.Defence expenditure

    IV.Maintenance expenditure for the infrastructure created in the previous plans

    Choose the correct answer using the codes given below:

    Codes:

    aI and IIbI and IIIcII and IVdI, II, III and IV
12. Prelims 1997Q99National Income & Growth

    National Income is the

    aNet National Product at market pricebNet National Product at factor costcNet Domestic Product at market pricedNet Domestic Product at factor cost
13. Prelims 1997Q103Taxation

    The Minimum Alternative Tax (MAT) was introduced in the Budget of the Government of India for the year

    a1991-92b1992-93c1995-96d1996-97
14. Prelims 1996Q2Fiscal Policy & Budget

    A redistribution of income in a country can be best brought about through

    aprogressive taxation combined with progressive expenditurebprogressive taxation combined with regressive expenditurecregressive taxation combined with regressive expendituredregressive taxation combined with progressive expenditure
15. Prelims 1996Q27National Income & Growth

    Which one of the following is correct regarding stabilization and structural adjustment as two components of the new economic policy adopted in India?

    aStabilization is a gradual, multi-step process while structural adjustment is a quick adaptation processbStructural adjustment is a gradual, multi-step process, while stabilization is a quick adaptation processcStabilization and structural adjustment are very similar and complementary policies. It is difficult to separate one from the otherdStabilization mainly deals with a set of policies which are to be implemented by the Central Government while structural adjustment is to be set in motion by the State Governments
16. Prelims 1996Q31International Trade & WTO

    Assertion (A): An important policy instrument of economic liberalization is reduction in import duties on capital goods.

    Reason (R): Reduction in import duties would help the local entrepreneurs to improve technology to face the global markets.

    In the context of the above two statements, which one of the following is correct?

    aBoth A and R are true and R is the correct explanation of AbBoth A and R are true and R is not a correct explanation of AcA is true but R is falsedA is false but R is true
17. Prelims 1996Q34External Sector: BoP, FDI & Exchange RateAnswer disputed

    One of the important goals of the economic liberalisation policy is to achieve full convertibility of the Indian rupee. This is being advocated because

    aconvertibility of the rupee will stabilize its exchange value against major currencies of the worldbit will attract more foreign capital inflow in Indiacit will help promote exportsdit will help India secure loans from the world financial markets at attractive terms
18. Prelims 1996Q37International Trade & WTOAnswer disputed

    The emerging trading blocs in the world, such as NAFTA, ASEAN and the like, are expected to

    aact as constrictions in free trade across the worldbpromote free trade on the lines laid down by the WTOcpermit transfer of technology between member countriesdpromote trade in agricultural commodities between countries of the North and South
19. Prelims 1996Q40International Trade & WTO

    Which of the following were the aims behind the setting up of the World Trade Organization (WTO)?

    I.Promotion of free trade and resource flows across countries.

    II.Protection of intellectual property rights.

    III.Managing balanced trade between different countries.

    IV.Promotion of trade between the former East Bloc countries and the western world.

    Select the correct answer by using the codes given below:

    aI, II, III and IVbI and IIcII and IIIdI and IV
20. Prelims 1996Q51External Sector: BoP, FDI & Exchange Rate

    Hawala transactions relate to payments

    areceived in rupees against overseas currencies and vice versa without going through the official channelsbreceived for sale/transfer of shares without going through the established stock exchangescreceived as commission for services rendered to overseas investors/buyers/sellers in assisting them to get over the red tape and/or in getting preferential treatmentdmade to political parties or to individuals for meeting election expenses