Economy: UPSC Prelims previous year questions

With reference to the Indian economy, "Collateral Borrowing and Lending Obligations" are the instruments of :

Consider the following statements:

Statement-I: If the United States of America (USA) were to default on its debt, holders of US Treasury Bonds will not be able to exercise their claims to receive payment.

Statement-II: The USA Government debt is not backed by any hard assets, but only by the faith of the Government.

Which one of the following is correct in respect of the above statements?

In India, which of the following can trade in Corporate Bonds and Government Securities?

1. Insurance Companies
2. Pension Funds
3. Retail Investors

Select the correct answer using the code given below:

Consider the following statements:

Statement-I: India does not import apples from the United States of America.

Statement-II: In India, the law prohibits the import of Genetically Modified food without the approval of the competent authority.

Which one of the following is correct in respect of the above statements?

With reference to the rule/rules imposed by the Reserve Bank of India while treating foreign banks, consider the following statements:

1. There is no minimum capital requirement for wholly owned banking subsidiaries in India.
2. For wholly owned banking subsidiaries in India, at least 50% of the board members should be Indian nationals.

Which of the statements given above is/are correct?

With reference to physical capital in Indian economy, consider the following pairs:

How many of the above pairs are correctly matched?

Consider the following statements :

1. India is a member of the International Grains Council.
2. A country needs to be a member of the International Grains Council for exporting or importing rice and wheat.

Which of the statements given above is/are correct?

The total fertility rate in an economy is defined as:

With reference to the sectors of the Indian economy, consider the following pairs:

How many of the pairs given above are correctly matched?

Consider the following statements in respect of the digital rupee :

1. It is a sovereign currency issued by the Reserve Bank of India (RBI) in alignment with its monetary policy.
2. It appears as a liability on the RBI's balance sheet.
3. It is insured against inflation by its very design.
4. It is freely convertible against commercial bank money and cash.

Which of the statements given above are correct?

Consider the following:

1. Exchange-Traded Funds (ETF)
2. Motor vehicles
3. Currency swap

Which of the above is/are considered financial instruments?

Consider the following statements :

Statement-I: Syndicated lending spreads the risk of borrower default across multiple lenders.

Statement-II: The syndicated loan can be a fixed amount/lump sum of funds, but cannot be a credit line.

Which one of the following is correct in respect of the above statements?

Consider the following statements:

1. In India, Non-Banking Financial Companies can access the Liquidity Adjustment Facility window of the Reserve Bank of India.
2. In India, Foreign Institutional Investors can hold the Government Securities (G-Secs).
3. In India, Stock Exchanges can offer separate trading platforms for debts.

Which of the statements given above is/are correct?

Consider the investments in the following assets:

1. Brand recognition
2. Inventory
3. Intellectual property
4. Mailing list of clients

How many of the above are considered intangible investments?

Consider the following statements :

1. The Self-Help Group (SHG) programme was originally initiated by the State Bank of India by providing microcredit to the financially deprived.
2. In an SHG, all members of a group take responsibility for a loan that an individual member takes.
3. The Regional Rural Banks and Scheduled Commercial banks support SHGs.

How many of the above statements are correct?

Consider the following statements:

Statement-I: Interest income from the deposits in Infrastructure Investment Trusts (InvITs) distributed to their investors is exempted from tax, but the dividend is taxable.

Statement-II: InvITs are recognized as borrowers under the 'Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002'.

Which one of the following is correct in respect of the above statements?

In the context of finance, the term 'beta' refers to the

Which one of the following best describes the concept of 'Small Farmer Large Field'?

Consider the following statements:

Statement-I: In the post-pandemic recent past, many Central Banks worldwide had carried out interest rate hikes.

Statement-II: Central Banks generally assume that they have the ability to counteract the rising consumer prices via monetary policy means.

Which one of the following is correct in respect of the above statements?

Consider the following pairs: Port : Well known as

1. Kamarajar Port : First major port in India registered as a company
2. Mundra Port : Largest privately owned port in India
3. Visakhapatnam : Largest container port in India

How many of the above pairs are correctly matched?

With reference to Central Bank digital currencies, consider the following statements:

1. It is possible to make payments in a digital currency without using US dollar or SWIFT system.
2. A digital currency can be distributed with a condition programmed into it such as a time-frame for spending it.

Which of the statements given above is/are correct?

Consider the following:

1. Demographic performance
2. Forest and ecology
3. Governance reforms
4. Stable government
5. Tax and fiscal efforts For the horizontal tax devolution, the Fifteenth Finance Commission used how many of the above as criteria other than population, area and income distance?

Consider the following markets:

1. Government Bond Market
2. Call Money Market
3. Treasury Bill Market
4. Stock Market

How many of the above are included in capital markets?

Consider the following statements with reference to India:

1. According to the 'Micro Small and Medium enterprises Development (MSMED) Act, 2006, the 'medium enterprises' are those with investments in plant and machinery between Rs. 15 crore and Rs. 25 crore.
2. All bank loans to the Micro, Small and Medium Enterprises qualify under the Priority sector.

Which of the statements given above is/are correct?

Consider the following Statements :

Statement-I: Switzerland is one of the leading exporters of gold in terms of value.

Statement-II: Switzerland has the second largest gold reserves in the world.

Which one of the following is correct in respect of the above statements?

Consider the following statements:

1. India has more arable area than China.
2. The proportion of irrigated area is more in India as compared to China.
3. The average productivity per hectare in Indian agriculture is higher than that in China.

How many of the above statements are correct?

Which one of the following activities of the Reserve Bank of India is considered to be part of 'sterilization'?

Consider the following statements:

1. The Government of India provides Minimum Support Price for niger (Guizotia abyssinica) seeds.
2. Niger is cultivated as a Kharif crop.
3. Some tribal people in India use niger seed oil for cooking.

How many of the above statements are correct?

Consider the following statements :

Statement-I: India accounts for 3.2% of global export of goods.

Statement-II: Many local companies and some foreign companies operating in India have taken advantage of India's 'Production-linked Incentive' scheme.

Which one of the following is correct in respect of the above statements?

In India, which one of the following is responsible for maintaining price stability by controlling inflation?

Consider the following statements:

1. Tight monetary policy of US Federal Reserve could lead to capital flight.
2. Capital flight may increase cost of firms with existing External Commercial Borrowings (ECBs)
3. Devaluation of domestic currency decreases the currency risk associated with ECBs

Which of the statements given above are correct?

In India, which one of the following compiles information on industrial disputes, closures, retrenchments and lay-offs in factories employing workers?

With reference to the expenditure made by an organisation or a company, which of the following statements is/are correct ?

1. Acquiring new technology is capital expenditure.
2. Debt financing is considered capital expenditure, while equity financing is considered revenue expenditure.

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With reference to Convertible Bonds consider the following statements:

1. As there is an option to exchange the bond for equity, Convertible Bonds pay a lower rate of interest.
2. The option to convert to equity affords the bondholder a degree of indexation to rising consumer prices.

Which of the statements given above is / are correct?

With reference to the 'Banks Board Bureau (BBB)', which of the following statements are correct?

1. The Governor of RBI is the Chairman of BBB.
2. BBB recommends for the selection of heads for Public Sector Banks.
3. BBB helps the Public Sector Banks in developing strategies and capital raising plans.

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With reference to the Indian economy, consider the following statements :

1. A share of the household financial savings goes towards government borrowings.
2. Dated securities issued at market-related rates in auctions form a large component of internal debt;

Which of the above statements is/are correct ?

With reference to the Indian economy, consider the following statements:

1. An increase in Nominal Effective Exchange Rate (NEER) indicates the appreciation of rupee.
2. An increase in the Real Effective Exchange Rate (REER) indicates an improvement in trade competitiveness.
3. An increasing trend in domestic inflation relative to inflation in other countries is likely to cause an increasing divergence between NEER and REER.

Which of the above statements are correct?

Rapid Financing Instrument and "Rapid Credit Facility" are related to the provisions of lending by which one of the following?

In India, what is the role of the Coal Controller's Organization (CCO)?

1. CCO is the major source of Coal Statistics in Government of India.
2. It monitors progress of development of Captive Coal/Lignite blocks.
3. It hears any objection to the Government's notification relating to acquisition of coal-bearing areas.
4. It ensures that coal mining companies deliver the coal to end users in the prescribed time.

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With reference to the Indian economy, consider the following statements:

1. If the inflation is too high, Reserve Bank of India (RBI) is likely to buy government securities.
2. If the rupee is rapidly depreciating, RBI is likely to sell dollars in the market.
3. If interest rates in the USA or European Union were to fall, that is likely to induce RBI to buy dollars.

Which of the statements given below is/are correct?

Which one of the following situations best reflects "Indirect Transfers" often talked about in media recently with reference to India?

Which of the following activities constitute the real sector in the economy?

1. Farmers harvesting their crops.
2. Textile mills converting raw cotton into fabrics
3. A commercial bank lending money to a trading company
4. A corporate body issuing Rupee Denominated Bonds overseas

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With reference to the Indian economy, what are the advantages of "Inflation-Indexed Bonds (IIBs)"?

1. Government can reduce the coupon rates on its borrowing by way of IIBs.
2. IIBs provide protection to the investors from uncertainty regarding inflation.
3. The interest received as well as capital gains on IIBs are not taxable.

Which of the statements given above are correct ?

Consider the following statements:

1. In India, credit rating agencies are regulated by Reserve Bank of India.
2. The rating agency popularly known as ICRA is a public limited company.
3. Brickwork Rating is an Indian credit rating agency.

Which of the statements given above are correct?

With reference to foreign-owned e-commerce firms operating in India, which of the following statements is/are correct ?

1. They can sell their own goods in addition to offering their platforms as market-places.
2. The degree to which they can own big sellers on their platforms is limited.

Which of the above statements are correct?

Consider the following statements:

1. The Governor of the Reserve Bank of India (RBI) is appointed by the Central Government.
2. Certain provisions in the Constitution of India give the Central Government the right to issue directions to the RBI in public interest.
3. The Governor of the RBI draws his power from the RBI Act.

Which of the above statements are correct?

With reference to India, consider the following statements:

1. Retail investors through demat account can invest in 'Treasury Bills' and 'Government of India Debt Bonds' in primary market.
2. The 'Negotiated Dealing System-Order Matching' is a government securities trading platform of the Reserve Bank of India.
3. The 'Central Depository Services Ltd.' is jointly promoted by the Reserve Bank of India and the Bombay Stock Exchange.

Which of the statements given below is/are correct?

Which among the following steps is most likely to be taken at the time of an economic recession?

Which one of the following effects of creation of black money in India has been the main cause of worry to the Government of India?

In India, the central bank's function as the 'lender of last resort' usually refers to which of the following?

1. Lending to trade and industry bodies when they fail to borrow from other sources.
2. Providing liquidity to the banks having a temporary crisis.
3. Lending to governments to finance budgetary deficits.

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Consider the following statements: Other things remaining unchanged, market demand for a good might increase if

1. Price of its substitute increases
2. Price of its complement increases
3. The good is an inferior good and income of the consumers increases
4. Its price falls

Which of the statements given above is/are correct?

With reference to Indian economy, demand pull-inflation can be caused/increased by which of the following?

1. Expansionary policies
2. Fiscal stimulus
3. Inflation-indexing wages
4. Higher - purchasing power
5. Rising interest rates

Select the correct answer using the codes given below.

With reference to 'palm oil', consider the following statements:

1. The palm oil tree is native to Southeast Asia.
2. The palm oil is a raw material for some industries producing lipstick and perfumes.
3. The palm oil can be used to produce biodiesel.

Which of the statements given above are correct?

Consider the following statements: The effect of devaluation of a currency is that it necessarily:-

1. improves the competitiveness of the domestic exports in the foreign markets.
2. increases the foreign value of domestic currency.
3. improves the trade balance.

Which of the above statements is/are correct?

With reference to 'Urban Cooperative Banks' in India, consider the following statements:

1. They are supervised and regulated by local boards set up by the State Governments.
2. They can issue equity shares and preference shares.
3. They were brought under the purview of the Banking Regulation Act, 1949 through an Amendment in 1966.

Which of the statements given above is/are correct?

The money multiplier in an economy increases with which one of the following?

Consider the following

1. Foreign Currency convertible bonds
2. Foreign Institutional investment with certain conditions
3. Global depository receipts
4. Non-resident external deposits

Which of the above can be included in Foreign Direct Investments?

Which one of the following is likely to be the most inflationary in its effects?

India Government Bond Yields are influenced by which of the following?

1. Actions of the United States Federal Reserve.
2. Actions of the Reserve Bank of India.
3. Inflation and short-term interest rates.

Which of the statements given above is/are correct?

Along with the Budget, the Finance Minister also places other documents before the Parliament which include "The Macro Economic Framework Statement". The aforesaid document is presented because this is mandated by

Consider the following statements:

1. In terms of short-term credit delivery to the agriculture sector, District Central Cooperative Banks (DCCBs) deliver more credit in comparison to Scheduled Commercial Banks and Regional Rural Banks
2. One of the most important functions of DCCBs is to provide funds to the Primary Agricultural Credit Societies.

Which of the statements given above is/are correct?

If the RBI decides to adopt an expansionist monetary policy, which of the following would it not do?

1. Cut and optimize the Statutory Liquidity Ratio
2. Increase the Marginal Standing Facility Rate
3. Cut the Bank Rate and Repo Rate

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If another global financial crisis happens in the near future, which of the following actions/policies are most likely to give some immunity to India?

1. Not depending on short-term foreign borrowings
2. Opening up to more foreign banks
3. Maintaining full capital account convertibility

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"Gold Tranche" (Reserve Tranche) refers to

If you withdraw Rs. 1,00,000 in cash from your Demand Deposit Account at your bank, the immediate effect on aggregate money supply in the economy will be

What is the importance of the term "Interest Coverage Ratio" of a firm in India?

1. It help in understanding the present risk of a firm that a bank is going to give loan to.
2. It helps in evaluating the emerging risk of a firm that a bank is going to give loan to.
3. The higher a borrowing firm's level of Interest Coverage Ratio, the worse is its ability to service its debt.

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Consider the following statements:

1. The weightage of food in Consumer Price Index (CPI) is higher than that in Wholesale Price Index (WPI).
2. The WPI does not capture changes in the prices of services, which CPI does.
3. Reserve Bank of India has now adopted WPI as its key measure of inflation and to decide on changing the key policy rates.

Which of the statements given above is/are correct?

Which of the following factors/policies were affecting the price of rice in India in the recent past?

1. Minimum Support Price
2. Government's trading
3. Government's stockpiling
4. Consumer subsidies

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With reference to the Indian economy, consider the following statements:

1. 'Commercial Paper' is a short-term unsecured promissory note.
2. 'Certificate of Deposit' is a long-term instrument issued by the Reserve Bank of India to a corporation.
3. 'Call Money' is a short-term finance used for interbank transactions.
4. 'Zero-Coupon Bonds' are the interest bearing short-term bonds issued by the Scheduled Commercial Banks to corporations.

Which of the statements given above is/are correct?

Consider the following statements:

1. In the case of all cereals, pulses and oil-seeds, the procurement at Minimum Support Price (MSP) is unlimited in any State/UT of India.
2. In the case of cereals and pulses, the MSP is fixed in any State/UT at a level to which the market price will never rise.

Which of the statements given above is/are correct?

With reference to Foreign Direct Investment in India, which one of the following is considered its major characteristic?

The term 'West Texas Intermediate', sometimes found in news, refers to a grade of

With reference to the international trade of India at present, which of the following statements is/are correct?

1. India's merchandise exports are less than its merchandise imports.
2. India's imports of iron and steel, chemicals, fertilisers and machinery have decreased in recent years.
3. India's exports of services are more than its imports of services.
4. India suffers from an overall trade/current account deficit.

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In the context of the Indian economy, non-financial debt includes which of the following?

1. Housing loans owed by households
2. Amounts outstanding on credit cards
3. Treasury bills

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With reference to the Trade-Related Investment Measures (TRIMS), which of the following statements is/are correct?

1. Quantitative restrictions on imports by foreign investors are prohibited.
2. They apply to investment measures related to trade in both goods and services.
3. They are not concerned with the regulation of foreign investments.

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In India, which of the following can be considered as public investment in agriculture?

1. Fixing Minimum Support Price for agricultural produce of all crops
2. Computerization of Primary Agricultural Credit Societies
3. Social Capital development
4. Free electricity supply to farmers
5. Waiver of agricultural loans by the banking system
6. Setting up of cold storage facilities by the governments

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With reference to chemical fertilizers in India, consider the following statements:

1. At present, the retail price of chemical fertilizers is market-driven and not administered by the Government.
2. Ammonia, which is an input of urea, is produced from natural gas.
3. Sulphur, which is a raw material for phosphoric acid fertilizer, is a by-product of oil refineries.

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In India, under cyber insurance for individuals, which of the following benefits are generally covered, in addition to payment for the funds and other benefits?

1. Cost of restoration of the computer system in case of malware disrupting access to one's computer
2. Cost of a new computer if some miscreant wilfully damages it, if proved so
3. Cost of hiring a specialized consultant to minimize the loss in case of cyber extortion.
4. Cost of defence in the Court of Law if any third party files a suit.

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Under the Kisan Credit Card scheme, short-term credit support is given to farmers for which of the following purposes?

1. Working capital for maintenance of farm assets
2. Purchase of combine harvesters, tractors and mini trucks.
3. Consumption requirements of farm households
4. Post-harvest expense
5. Construction of family house and setting up of village cold storage facility.

Select the correct answer

With reference of the Indian economy after the 1991 economic liberalization, consider the following statements:

1. Worker productivity (per worker at 2004-05 prices) increased in urban areas while it decreased in rural areas.
2. The percentage share of rural areas in the workforce steadily increased.
3. In rural areas, the growth in non-farm economy increased.
4. The growth rate in rural employment decreased.

Which of the statements given above is/are correct?

The money multiplier in an economy increases with which one of the following?

With reference to India's Five-Year Plans, which of the following statements is/are correct?

1. From the Second Five-Year Plan, there was a determined thrust towards substitution of basic and capital goods industries.
2. The Fourth Five-Year Plan adopted the objective of correcting the earlier trend of increased concentration of wealth and economic power.
3. In the Fifth Five-Year Plan, for the first time, the financial sector was included as an integral part of the Plan.

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With reference to land reforms in independent India, which one of the following statements is correct?

Among the agricultural commodities imported by India, which one of the following accounts for the highest imports in terms of value in the last five years?

Consider the following statements:

1. Purchasing Power Parity (PPP) exchange rates are calculated by comparing the prices of the same basket of goods and services in different countries.
2. In terms of PPP dollars, India is the sixth largest economy in the world.

Which of the statements given above is/are correct?

Consider the following statements :

1. Petroleum and Natural Gas Regulatory Board (PNGRB) is the first regulatory body set up by the Government of India.
2. One of the tasks of PNGRB is to ensure competitive markets for gas.
3. Appeals against the decisions of PNGRB go before the Appellate Tribunals for Electricity.

Which of the statements given above are correct?

The Services Area Approach was implemented under the purview of

The Global Competitiveness Report is published by the

Consider the following statements:

1. Most of India's external debt is owed by governmental entities.
2. All of India's external debt is denominated in US dollars.

Which of the statements given above is/are correct?

Which one of the following is not the most likely measure the Government/RBI takes to stop the slide of Indian rupee?

Consider the following statements : As per the Industrial Employment (Standing Orders) Central (Amendment) Rules, 2018

1. if rules for fixed-term employment are implemented, it becomes easier for the firms/companies to lay off workers
2. no notice of termination of employment shall be necessary in the case of temporary workman

Which of the statements given above is/are correct?

Among the following, which one is the largest exporter of rice in the world in the last five years?

The economic cost of food grains to the Food Corporation of India is Minimum Support Price and bonus (if any) paid to the farmers plus

What was the purpose of Inter-Creditor Agreement signed by Indian banks and financial institutions recently?

Which of the following is issued by registered foreign portfolio investors to overseas investors who want to be part of the Indian stock market without registering themselves directly?

The Chairman of public sector banks are selected by the

Consider the following statements:

1. CoaI sector was nationalized by the Government of India under Indira Gandhi.
2. Now, coal blocks are allocated on a lottery basis.
3. Till recently, India imported coal to meet the shortage of domestic supply, but now India is self- sufficient in coal production.

Which of the statements given above is/arc correct?

Consider the following statements: The Reserve Bank of India's recent directives relating to 'Storage of Payment System Data', popularly known as data diktat, command the payment system providers that

1. they shall ensure that entire data relating to payment systems operated by them are stored in a system only in India
2. they shall ensure that the systems are owned and operated by public sector enterprises
3. they shall submit the consolidated system audit report to the Comptroller and Auditor General of India by the end of the calendar year

Which of the statements given above is/are correct?

Which of the following is not included in the assets of a commercial bank in India?

In the context of India, which of the following factors is/are contributor/contributors to reducing the risk of a currency crisis?

1. The foreign currency earnings of India's IT sector
2. Increasing the government expenditure
3. Remittances from Indians abroad

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Which one of the following is not a sub-index of the World Bank's "Ease of Doing Business Index"?

Consider the following events:

1. The first democratically elected communist party government formed in a State in India.
2. India's then largest bank, 'Imperial Bank of India', was renamed 'State Bank of India'.
3. Air India was nationalised and became the national carrier.
4. Goa became a part of independent India. Which of the following is the correct chronological sequence of the above events?

With reference to the provisions made under the National Food Security Act, 2013 consider the following statements:

1. The families coming under the category of 'below poverty line (BPL)' only are eligible to receive subsidised grains.
2. The eldest woman in a household, of age 18 years or above, shall be the head of the household for the purpose of issuance of a ration card.
3. Pregnant women and lactating mothers are entitled to a take-home ration' of 1600 calories per day during pregnancy and for six months thereafter.

Which of the statements given above is/are correct?

Consider the following items:

1. Cereal grains hulled
2. Chicken eggs cooked
3. Fish processed and canned
4. Newspapers containing advertising material

Which of the above items is/are exempted under GST (Goods and Services Tax)?

In spite of being a high saving economy, capital formation may not result in a significant increase in output due to -

Consider the following statements: Human capital formation as a concept is better explained in terms of a process, which enables

1. individuals of a country to accumulate more capital.
2. increasing the knowledge, skill levels and capacities of the people of the country.
3. accumulation of tangible wealth.
4. accumulation of intangible wealth.

Which of the statements given above is/are correct?

Which one of the following links all the ATMs in India?

Consider the following:

1. Areca nut
2. Barley
3. Coffee
4. Finger millet
5. Groundnut
6. Sesamum
7. Turmeric The Cabinet Committee on Economic Affairs has announced the Minimum Support Price for which of the above?

Consider the following statements:

1. Capital Adequacy Ratio (CAR) is the amount that banks have to maintain in the form of their own funds to offset any loss that banks incur if the account-holders fail to repay dues.
2. CAR is decided by each individual bank.

Which of the statements given above is/are correct?

Consider the following statements:

1. The quantity of imported edible oils is more than the domestic production of edible oils in the last five years.
2. The Government does not impose any customs duty on all the imported edible oils as a special case. Which of the two statements given above is/are correct?

With reference to digital payments, consider the following statements:

1. BHIM app allows the user to transfer money to anyone with a UPI-enabled bank account.
2. While a chip-pin debit card has four factors of authentication, BHIM app has only two factors of authentication.

Which of the statements given above is/are correct?

Consider the following statements

1. The Fiscal Responsibility and Budget Management (FRBM) Review Committee Report has recommended a debt to GDP ratio of 60% for the general (combined) government by 2023, comprising 40% for the Central Government and 20% for the State Governments.
2. The Central Government has domestic liabilities of 21% of GDP as compared to 49% of GDP of the State Governments.
3. As per the Constitution of India, it is mandatory for a State to take the Central Government's consent for raising any loan if the former owes any outstanding liabilities to the latter.

Which of the statements given above is/are correct?

India enacted the Geographical Indications of Goods (Registration and Protection) Act, 1999 in order to comply with the obligations to

If a commodity is provided free to the public by the Government, then

Which one of the following statements correctly describes the meaning of legal tender money?

With reference to the governance of public sector banking in India, consider the following statements

1. Capital infusion into public sector banks by the Government of India has steadily increased in the last decade.
2. To put the public sector banks in order, the merger of associate banks with the parent State Bank of India has been affected.

Which of the statements given above is/are correct?

With reference to India's decision to levy an equalization tax of 6% on online advertisement services offered by non-resident entities, which of the following statements is/are correct?

1. It is introduced as a part of the Income Tax Act.
2. Non-resident entities that offer advertisement services in India can claim a tax credit in their home country under the "Double Taxation Avoidance Agreements".

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With reference to organic farming in India, consider the following statements:

1. The National Programme for Organic Production (NPOP) is operated under the guidelines and directions of the Union Ministry of Rural Development.
2. The Agricultural and Processed Food Products Export Development Authority (APEDA) functions as the Secretariat for the implementation of NPOP.
3. Sikkim has become India's first fully organic State.

Which of the statements given above is/are correct?

Increase in absolute and per capita real GNP do not connote a higher level of economic development, if -

Consider the following statements:

1. The Reserve Bank of India manages and services Government of India Securities but not any State Government Securities.
2. Treasury bills are issued by the Government of India and there are no treasury bills issued by the State Governments.
3. Treasury bills are issued at a discount from the par value.

Which of the statements given above is/are correct?

Which one of the following best describes the term "Merchant Discount Rate" sometimes seen in the news?

With reference to the 'Prohibition of Benami Property Transactions Act, 1988 (PBPT Act) consider the following statements:

1. A property transaction is not treated as a benami transaction if the owner of the property is not aware of the transaction.
2. Properties held benami are liable for confiscation by the Government.
3. The Act provides for three authorities for investigations but does not provide for any appellate mechanism.

Which of the statements given above is/are correct?

Which of the following statements is/are correct regarding the Monetary Policy Committee (MPC)?

1. It decides the RBI's benchmark interest rates.
2. It is a 12-member body including the Governor of RBI and is reconstituted every year.
3. It functions under the chairmanship of the Union Finance Minister.

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What is/are the advantage/advantages of implementing the 'National Agriculture Market' (NAM) scheme?

1. It is a pan-India electronic trading portal for agricultural commodities.
2. It provides the farmers access to the nationwide market, with prices commensurate with the quality of their produce.

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The Global Infrastructure Facility is a/an -

Which of the following has/have occurred in India after its liberalization of economic policies in 1991?

1. The share of agriculture in GDP increased enormously.
2. The share of India's exports in world trade increased.
3. FDI inflows increased.
4. India's foreign exchange reserves increased enormously.

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Consider the following statements:

1. National Payments Corporation of India (NPCI) helps in promoting financial inclusion in the country.
2. NPCI has launched RuPay, a card payment scheme.

Which of the statements given above is/are correct?

Which of the following is the most likely consequence of implementing the 'Unified Payments Interface (UPI)'?

What is the purpose of setting up of Small Finance Banks (SFBs) in India?

1. To supply credit to small business units
2. To supply credit to small and marginal farmers
3. To encourage young entrepreneurs to set up business particularly in rural areas.

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The term 'Digital Single Market Strategy' seen in the news refers to -

With reference to 'Quality Council of India (QCI)', consider the following statements:

1. QCI was set up jointly by the Government of India and the Indian Industry.
2. Chairman of QCI is appointed by the Prime Minister on the recommendations of the industry to the Government.

Which of the above statements is/are correct?

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?

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 the economy of India and will enable it to overtake China in the near future.

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Consider the following statements : The nation-wide 'Soil Health Card Scheme' aims at

1. expanding the cultivable area under irrigation.
2. enabling the banks to assess the quantum of loans to be granted to farmers on the basis of soil quality.
3. checking the overuse of fertilizers in farmlands.

Which of the above statements is/are correct?

Which of the following statements best describes the term 'Scheme for Sustainable Structuring of Stressed Assets (S4A)', recently seen in the news?

With reference to 'National Intellectual Property Rights Policy', consider the following statements:

1. It reiterates India's commitment to the Doha Development Agenda and the TRIPS Agreement.
2. Department of Industrial Policy and Promotion is the nodal agency for regulating intellectual property rights in India.

Which of the above statements is/are correct?

The term 'Domestic Content Requirement' is sometimes seen in the news with reference to -

With reference to 'National Investment and Infrastructure Fund', which of the following statements is/are correct?

1. It is an organ of NITI Aayog.
2. It has a corpus of Rs. 4, 00,000 crores at present.

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Consider the following statements:

1. The Standard Mark of Bureau of Indian Standards (BIS) is mandatory for automotive tyres and tubes.
2. AGMARK is a quality Certification Mark issued by the Food and Agriculture Organisation (FAO).

Which of the statements given above is/are correct?

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.

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With reference to 'Financial Stability and Development Council', consider the following statements:

1. It is an organ of NITI Aayog.
2. It is headed by the Union Finance Minister.
3. It monitors macro-prudential supervision of the economy.

Which of the statements given above is/are correct?

India's ranking in the 'Ease of Doing Business Index' is sometimes seen in the news. Which of the following has declared that ranking?

Recently, India's first 'National Investment and Manufacturing Zone' was proposed to be set up in -

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

What is/are the purpose/purposes of the 'Marginal Cost of Funds based Lending Rate (MCLR)' announced by RBI?

1. These guidelines help improve the transparency in the methodology followed by banks for determining the interest rates on advances
2. These guidelines help ensure availability of bank credit & interest rates which are fair to the borrowers as well as the banks

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

With reference to pre-packaged items in India, it is mandatory for the manufacturer to put which of the following information on the main label, as per the Food Safety and Standards (Packaging and Labeling) Regulations, 2011?

1. List of ingredients including additives
2. Nutrition information
3. Recommendations, if any made by the medical profession about the possibility of any allergic reactions
4. Vegetarian/non-vegetarian

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

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

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'Global Financial Stability Report' is prepared by the -

Consider the following statements with reference to 'IFC Masala Bonds' -

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.

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

1. It is 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.

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

What is/are the purpose/purposes of Government's 'Sovereign Gold Bond Scheme' and 'Gold Monetization Scheme'?

1. To bring the idle gold lying with India households into the economy
2. To promote FDI in the gold and jewellery sector
3. To reduce India's dependence on gold imports

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The term 'Base Erosion and profit shifting' is sometimes seen in the news in the context of

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.

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

In the Index of Eight Core Industries, which one of the following is given the highest weight?

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

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A decrease in tax to GDP ratio of a country indicates which of the following?

1. Slowing economic growth rates
2. Less equitable distribution of national income

Choose the correct code:

Which of the following has/have been accorded "Geographical Indication" status?

1. Banaras Brocades and Sarees
2. Rajasthani Dal-Bati-Churma
3. Tirupati Laddu Select the answer using the code given below:

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

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

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?

In India, markets in agricultural products are regulated under the -

Convertibility of rupee implies:

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?

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

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

The Fair and Remunerative Price of Sugarcane is approved by the -

With reference to the 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?

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

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

If the interest rate is decreased in an economy, it will

Which of the following organizations brings out the publication known as 'World Economic Outlook'?

In the context of Indian economy which of the following is/are the purpose/purposes of 'Statutory Reserve Requirements'?

1. To enable the Central Bank to control the amount of advances the banks can create
2. To make the people's deposits with banks safe and liquid
3. To prevent commercial banks from making excessive profits
4. To force the banks to have sufficient vault cash to meet their day-to-day requirements

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Which of the following are associated with 'Planning' in India?

1. The Finance Commission
2. The National Development Council
3. The Union Ministry of Rural Development
4. The Union Ministry of Urban Development
5. The Parliament

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The sales tax you pay while purchasing a toothpaste is a

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 are correctly matched?

What does venture capital mean?

With reference to Union Budget, which of the following is/are covered under Non-Plan Expenditure?

1. Defence expenditure
2. Interest payments
3. Salaries and pensions
4. Subsidies

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With reference to Balance of Payments, which of the following constitutes/constitute the Current Account?

1. Balance of trade
2. Foreign assets
3. Balance of invisibles
4. Special Drawing Right

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In the context of food and nutritional security of India, enhancing the 'Seed Replacement Rates' of various crops helps in achieving the food production targets of the future. But what is/are the constraint/ constraints in its wider / greater implementation?

1. There is no National Seeds Policy in place.
2. There is no participation of private sector seed companies in the supply of quality seeds of vegetables and planting materials of horticultural crops.
3. There is a demand-supply gap regarding quality seeds in case of low value and high volume crops.

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The main objective of the 12th Five-Year Plan is

In India, cluster bean (Guar) is traditionally used as a vegetable or animal feed, but recently the cultivation of this has assumed significance. Which one of the following statements is correct in this context?

The terms 'Marginal Standing Facility Rate' and 'Net Demand and Time Liabilities', sometimes appearing in the news, are used in relation to

Consider the following statements :

1. Inflation benefits the debtors.
2. Inflation benefits the bondholders.

Which of the statements given above is/are correct?

Consider the following liquid assets:

1. Demand deposits with the banks
2. Time deposits with the banks
3. Savings deposits with the banks
4. Currency The correct sequence of these decreasing order of Liquidity is

In India, deficit financing is used for raising resources for

The Reserve Bank of India regulates the commercial banks in matters of -

1. Liquidity of assets
2. Branch expansion
3. Merger of banks
4. Winding-up of banks

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Which of the following constitute Capital Account?

1. Foreign Loans
2. Foreign Direct Investment
3. Private Remittances
4. Portfolio Investment

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Disguised unemployment generally means

In the context of Indian economy, Open Market Operations' refers to:

Supply of money remaining the same when there is an increase in demand for money, there will be:

The National income of a country for a given period is equal to the:

Economic growth in country X will necessarily have to occur if

Which one of the following is likely to be the most inflationary in its effect?

Which one of the following groups of items are included in India's foreign-exchange reserves?

The balance of payments of a country is a systematic record of

A rise in the general level of prices may be caused by:

1. an increase in the money supply
2. a decrease in the aggregate level of output
3. an increase in the effective demand

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An increase in the Bank Rate generally indicates that the: