Indian Economy

Q. Fiscal deficit in the Union Budget means

A
net increase in Union Governments borrowings from the Reserve Bank of India
B
the sum of budgetary deficit and net increase in internal and external borrowings
C
the difference between current expenditure and current revenue
D
the sum of monetized deficit and budgetary deficit

Correct Answer

the sum of budgetary deficit and net increase in internal and external borrowings

More Questions on Indian Economy

  • Q. In India the first bank of limited liability managed by Indian and founded in 1881 was:
    A)Hindustan Commercial Bank
    B)Oudh commercial Bank.
    C)Punjab National Bank
    D)Punjab and Sind Bank
    Answer: Oudh commercial Bank.
  • Q. Rice, Millet (Jawar-Bajra ), Maize and cotton is the group which belongs to:
    A)Kharif crop
    B)Both A and B
    C)Rabi crop
    D)None of the above
    Answer: Kharif crop
  • Q. Whose name is associated with formulation of planning strategy in Second five Year plan?
    A)Jawahar Lal Nehru
    B)Prasanta Chandra Mahalanobis
    C)Mahatma Gandhi
    D)B.R. Shenoy
    Answer: Prasanta Chandra Mahalanobis
  • Q. The Money Order system in India was introduced in the year :
    A)1880
    B)1999
    C)1882
    D)1904
    Answer: 1880
  • Q. In coal production, India ranks in the world:
    A)First
    B)Third
    C)Second
    D)Fourth
    Answer: Second
  • Q. In the World, in the production of cotton, India ranks:
    A)First
    B)Third
    C)Second
    D)Fourth
    Answer: Second
  • Q. Unit Trust of India (UTI) was bifurcated (into UTI-I and UTI-II) in:
    A)the year 2000
    B)the year 2005
    C)the year 2003
    D)the year 2001
    Answer: the year 2003
  • Q. Our financial system has provided for the transfer of resources from the centre to the states; the important means of resource transfers are
    A)grant-in-aids
    B)tax sharing
    C)loans
    D)All the above
    Answer: All the above
  • Q. As per the targets of 11th Five year Plan (2007-12) Mortality Rate (2012) has been targeted at:
    A)1 per 10000 births
    B)1 per 100 births
    C)1 per 1000 births
    D)1 per 10 births
    Answer: 1 per 1000 births
  • Q. With the objective of opening the insurance sector for private participation the Insurance Regulatory and Development Authority Act (IRDA) was passed in:
    A)the year 1999
    B)the year 2005
    C)the year 1998
    D)the year 1990
    Answer: the year 1999
  • Q. The current price index (base 1960) is nearly 330. This means that
    A)the prices of certain selected items have gone up to 3-3 times
    B)all items cost 3-3 times more than what they did in 1960
    C)weighted means of prices of certain item has increased 3-3 times
    D)gold price has gone up 3-3 times
    Answer: weighted means of prices of certain item has increased 3-3 times
  • Q. In India, the first bank of limited liability managed by Indians and founded in 1881 was
    A)Oudh Commercial Bank
    B)Punjab National Bank
    C)Hindustan Commercial Bank
    D)Punjab and Sind Bank
    Answer: Oudh Commercial Bank
  • Q. Short-term finance is usually for a period ranging up to
    A)10 months
    B)5 months
    C)12 months
    D)15 months
    Answer: 12 months
  • Q. The budget deficit means
    A)difference between revenue receipts and revenue expenditure
    B)difference between all receipts and all the expenditure
    C)the excess of total expenditure, including loans, net of lending over revenue receipts
    D)fiscal deficit less interest payments
    Answer: difference between all receipts and all the expenditure
  • Q. The annual yield from which of the following Union Government taxes is the highest?
    A)Corporation tax and income tax
    B)Custom duties
    C)Inheritance tax, wealth tax, interest tax and gift tax
    D)Excise duties
    Answer: Excise duties
  • Q. If an economy is equilibrium at the point where plans to save and to invest are equal, then government expenditure must be
    A)equal to government income
    B)larger than government income
    C)zero
    D)negative
    Answer: equal to government income
  • Q. On which one of the following is the benefits received principle of taxation to achieve optimality bases?
    A)Total benefit received
    B)Marginal benefit received
    C)Average benefit received
    D)Ability to pay for the benefit
    Answer: Ability to pay for the benefit
  • Q. The central banking functions in India are performed by the I=Central Bank of India II=Reserve Bank of India III=State Bank of India IV=Punjab National Bank
    A)II
    B)I
    C)I, II
    D)II, III
    Answer: II
  • Q. During which five year plan was the annual growth rate registered at 2.5%?
    A)First Five Year Plan (1961-66)
    B)Second Five Year Plan (1961-66)
    C)Fourth Five Year Plan (1961-66)
    D)Third Five Year Plan (1961-66)
    Answer: Third Five Year Plan (1961-66)
  • Q. The number of finance commissions set up upto now is:
    A)14
    B)13
    C)15
    D)16
    Answer: 15

Leave a Comment