ICSA 2011 GS Indian Econ Q & A Session--III, Dated 12 May, 2011

Question and Answer Session
Indian Economics
1.What was the HDI of India in 2010?
a)0.547 ; b) 0.572; c) 0.519; d) 0.527
2. Central Government started making a special contribution for development of social service in the North East starting from which of the following year?
a) 2005-06; b) 2006-07; c) 2007-08; d) 2008-09
3.Of the total central government expenditure, the expenditure on social services,rural development and PMGSY in 2009-10 revised estimate contributed to
a) 14.77%; b) 18.32%; c) 18.44%; d) 19.27%
4. Of the social services expenditure of the central government in 2009-10 revised estimate, the share of education was
a) 43.9%; b) 42.4%; c) 45.0%; d) 43.0%
5. The average proportion of the households availing banking facilities in India is
a) 31.8%; b) 35.8%; c) 37.5%; 29.7%
6. How much money has been allocated to Sarva Shiksha Abhiyan in the Union Budget 2011-12
a) Rs.21000 ; b) Rs.18000; c) Rs. 15000; d) None of these
7. The number of Particularly Vulnerable Tribal Groups (PVTGs) earlier known as Primitive Tribal Groups (PTGs) is
a) 35 ; b) 55; c) 75; d) 95
8. Sen (1976) proposed an index of poverty that considers
a) the number of poor only;
b) the number of poor and the depth of their poverty;
c) the number of poor, the depth of their poverty, and the distribution of poverty within the group;
d) none of these
9. The main points of the criticism of the concept of poverty line include a) application of the same poverty line in all the states, which imply the absence of price differentials across the states;
(b) use of a fixed consumption basket over time;
(c) uniform consumption basket for all the states;
d) all of these;
10. In which of the following years Asia's first EPZ set up in Kandla
a) 1965; b)1969; c) 1972; d) 1975
11. The Special Economic Zones Act was passed in
a)2000; b)2002; c)2005; d) 2007
12. Which of the following is not an objective of the SEZ Act?
(a) generation of additional revenue for the government;
(b) promotion of exports of goods and services;
(c) promotion of investment from domestic and foreign sources;
(d) creation of employment opportunities;
13. The inter-ministerial SEZ Board of Approval (BoA) consists of
a) 5 members; b) 10 members; c) 12 members; d) 19 members;
14. The incentives and facilities offered to the units in SEZs for attracting investments into the SEZs, including foreign investment does not include
a) Duty free import/domestic procurement of goods for development, operation and maintenance of SEZ units
b) 100% Income Tax exemption on export income for SEZ units under Section 10AA of the Income Tax Act for first 5 years, 50% for next 5 years thereafter and 50% of the ploughed back export profit for next 5 years.
c) Exemption from minimum alternate tax under section 115JB of the Income Tax Act.
d) Borrowing from the commercial banks of the country by any SEZ unit upto US $ 500 million in a year without any collateral security.
15. In which of the following years exports from the SEZs recorded highest growth rate?
a) 2006-07; b) 2007-08; c)2008-09; d)2009-10;
16. India’s only SEZ specializing in animation and gaming is located at
a) Bengaluru; b) Trivandrum; c) Rajarhat; d) Gurgaon;
17. Moser Baer SEZ is located at
a) Mysore; b) Gurgaon; c) Greater Noida; d) Coimbatore;
18. Since independence, in how many years, inflation rate in India have been above 15 percent?
a) 22 ; b) 15; c)6; d)4;
19. The average inflation during 1951-2005 is estimated to be
a) 6.5%; b) 8.5%; c) 10.5%; d) 12.5%
20. Which of the following statements is not correct?
a) The “headline inflation” covers the entire set of goods and services included in the general index.
b) The “core inflation” otherwise known as “underlying inflation” ignores the volatile items in the general index.
c) Headline inflation reflects not only the effect of demand pressures but also supply shocks which impart transitory noise and bias to the index.
d) The concept of “core” inflation became popular much before the adoption of the “inflation targeting” framework by several central banks.
21. Inflation targeting as a framework for operating monetary policy has almost acquired a sort of cult status ever since _________ formulated it for the first time in early 1990s
a) Reserve Bank of India; b) Central Bank of Europe; c) Reserve Bank of New Zealand; d) None of these.
22. NAIRU stands for
a) Non-accelerating Inflation Rate of Unemployment; b) National Average of Industrial Rate of Unemployment; c) National All India Radio Union; d) None of these
23. The grant of money in aid or support to institutions which is asked to provide loans to farmers at below market rates by the government is known as
a) subvention b) subsidy c) monetization d) none of these
24. Which among the following facts about BRIC is/are true?
a)BRIC countries account for 42 percent of the world's population
b)BRIC Countries account for 14.6 percent of global Gross Domestic Product (GDP)
c)BRIC countries account for 12.8 percent of the global trade volume.
d) All are true
25.Recently Bindeshwar Pathak of Sulabh International was honored by Intergovernmental Renewable Energy Organization at the United Nations headquarters in New York . He was presented this honor for _________?
a) Running public toilets in India;
b) Developing low cost toilet technology to produce energy out of human excreta;
c) Uplifting the socio-economic and environmental status of poor;
d) For popularizing solar technology in the rural areas;
26. Reserve Bank constituted a Working Group to Review the Operating Procedure of Monetary Policy in India under the Chairmanship of
a) A. Vaidyanathan; b) Ashok Chawla; c) Deepak Mohanty; d) Dr. Rakesh Mohan
27. The Task Force on Revival of Rural Co-operative Credit Institutions set up by the RBI is headed by a) Prof. A. Vaidyanathan; b) Ashok Chawla; c) Dr. Rakesh Mohan; d) None of these
28. As per Monetary Policy Statement of RBI, Repo Rate has been increased to
a) 6.75%; b) 7.25%; c) 6%; d) None of these
29. What does MSME stand for?
a) Medium, Small and Micro Enterprises; b) Modern Small and Micro Enterprises; c) Micro, Small and Medium Enterprises; d) None of these
30. What does BCBS stand for?
a) Basel Committee on Banking Supervision; b) Broadbased Core Banking System; c) Business Class Banking Software; d) None of these

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