Indian Economy GK For DME Assam, Assam Police, ADRE, SSC Railway Exam (Part-3)

Indian Economy 

For DME Assam, Assam Police, ADRE, SSC Railway Exam (Part-3)

1. What is the extent of change of the literacy rate envisaged by the end of the 10th Five Year Plan ?

(a) From 65% to 75%
(b) From 60% to 70%
(c) From 50% to 55%
(d) From 45% to 50%

Answer:- (a) From 65% to 75%

The Tenth Five-Year Plan (2002–2007) envisaged attainment of 8% GDP growth per year; reduction of poverty ratio by 5 percentage points by 2007

2. Which of the following Mahatma Gandhi series of currency notes issued by the RBI has “ecology” depicted on it?

(a) Rs. 500
(b) Rs. 100
(c) Rs. 50
(d) Rs. 5

Answer:- (d) Rs. 5

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3. What is the purpose of the India Brand Equity Fund ?

(a) To promote in-bound tourism.
(b) To make ‘Made in India’ a label of quality.
(c) To organise trade fairs.
(d) To provide venture capital to IT sector.

Answer:- (b) To make ‘Made in India’ a label of quality.

India Brand Equity Foundation is a Trust established by the Ministry of Commerce with the Confederation of Indian Industry (CII) as its associate

4. Which of the following Mahatma Gandhi seires of currency notes issued by the RBI has a drawing of the ‘Parliament House’ depicted on it?

(a) Rs. 500
(b) Rs. 100
(c) Rs. 50
(d) Rs. 10

Answer:- (c) Rs. 50

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5. What are “Open Market Operations”?

(a) Activities of SEBI registered brokers
(b) Selling of currency by the RBI
(c) Selling of gilt-edged securities by the Government
(d) Sale of shares by FIIs

Answer:- (c) Selling of gilt-edged securities by the Government

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6. Why did the Government ban the import of “Terminator seeds”?

(a) To contain a virus which can destroy local crops
(b) These seeds are injurious to human and animal health
(c) These seeds contain genetically engineered properties to prevent further multiplication
(d) These seeds multiply at very slow rates

Answer:- (c) These seeds contain genetically engineered properties to prevent further multiplication

The Indian government banned the import of terminator seeds on fears the seeds would threaten traditional crops and put the well-being of Indian farmers at risk

7. How does the consumer benefit with VAT ?

(a) It removes tax on tax and thus reduces prise-rise
(b) Reduces the cost of production
(c) With the abolition of the sales tax
(d) Due to the exemption of small businesses from the tax within certain limits prescribed by the State

Answer:- (a) It removes tax on tax and thus reduces prise-rise

Value Added Tax (VAT) is a tax applied on the value that is added to goods and services at each stage in the production and distribution chain

8. The best way, a bank can avoid loss is to?

(a) lend only to individuals known to the bank
(b) accept sound collateral
(c) give only short-term loans
(d) lend only to bank’s old customers

Answer:- (b) accept sound collateral

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9. Which amidst the following rural banks has been named after a river ?

(a) Prathama Bank
(b) Varada Grameen Bank
(c) Thar Anchalik Grameen Bank
(d) Aravali Kshetriya Grameen Bank

Answer:- (b) Varada Grameen Bank

Varada Grameena Bank is a Regional Rural Bank (RRB) named after the Wardha River which is one of the biggest rivers in Vidarbha region in India.

10. Which of the following is an open market operation of the RBI ?

(a) Buying and selling of shares
(b) Trading in securities
(c) Transactions in gold
(d) Lending to commercial banks

Answer:- (b) Trading in securities

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