2) ECONOMY Email : prashant.j@live.com Contact - AWS · PDF fileIndia depends on traditional biomass for cooking, ... leads the UK’s work to end extreme poverty, ... It helps to

Exam Title : 2) ECONOMY

Email : prashant.j@live.com

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1. World Energy Outlook Report is given by

a) Organization for Economic Cooperation and Development (OECD)

b) UNFCCC

c) International Energy Agency

d) World Bank

Correct Answer: C

Your Answer: C

Explanation:

Solution (c)

The IEA is an autonomous organisation which works to ensure reliable, affordable and clean energy for

its 29 member countries and beyond. The IEA has four main areas of focus: energy security, economic

development, environmental awareness and engagement worldwide.

WEO presents detailed projections of energy demand, production, trade and investment, fuel by fuel and

region by region.

According to International Energy Agency’s World Energy Outlook 2015, 67 per cent of the population in

India depends on traditional biomass for cooking, which, in absolute numbers, works out to 841 million

people in the population.

Source:

http://www.livemint.com/Politics/jYAQRMAxg1DZ7GJfQC3fbM/After-solar-energy-focus-is-now-on-hydro-wind-says-Piyush.html

2. The endeavour of ‘ Janani Suraksha Yojana ’ Programme is

1. to promote institutional deliveries

2. to provide for wage loss due to pregnancy and confinement

3. to provide monetary assistance to the mother to meet the cost of delivery

4. to reduce maternal and neo-natal mortality rate

Which of the statements given above is/are correct?

a) 1 and 4 Only

b) 1, 3 and 4

c) 2 and 3 Only

d) 1, 2, 3 and 4

Correct Answer: B

Your Answer: B

Explanation:

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Solution (b)

Janani Suraksha Yojana (JSY) is a safe motherhood intervention under the National Rural Health

Mission (NRHM)(Ministry of Health & Family Welfare) being implemented with the objective of reducing

maternal and neo-natal mortality by promoting institutional delivery (, i.e. by providing a cash incentive to

mothers who deliver their babies in a health facility) among the poor pregnant women. The Yojana was

launched in 20015. JSY is a 100 % centrally sponsored scheme and it integrates cash assistance with

delivery and post-delivery care.

There is also provision for cost reimbursement for transport and incentives to Accredited Social

Health Activists (ASHA) for encouraging mothers to go for institutional delivery. The wage loss scheme is

Indira Gandhi Matritva Sahyog Yojana (IGMSY) is a maternity benefit program run by the government

of India. It was introduced in 2010 and is implemented by the Ministry of Women and Child

Development. It is a conditional cash transfer scheme for pregnant and lactating women of 19 years of

age or above for first two live births. It provides a partial wage compensation to women for wage-loss

during childbirth and childcare and to provide conditions for safe delivery and good nutrition and feeding

practices. In 2013, the scheme was brought under the National Food Security Act, 2013 to implement

the provision of cash maternity benefit

The Yojana has identified ASHA, the accredited social health activist (trained community health

worker) as an effective link between the Government and the poor pregnant women in 10 low performing

states, namely the 8 EAG states and Assam and J&K and the remaining NE States.

Source:

http://www.thehindu.com/data/janani-suraksha-yojana-pays-dividends-study/article9204743.ece

3. Recently, India’s satellite GSAT-18 was successfully launched. With reference to GSAT-18, consider the

following statements

1. It is a communication-based satellite

2. It is India’s heaviest satellite

3. It was launched by India’s heavy duty launch vehicle GSLV

4. It was built by ISRO

Choose the appropriate code

a) 1, 2 and 4

b) 1, and 2 Only

c) 1, 2 and 3

d) 1, 2, 3 and 4

Correct Answer: A

Your Answer: A

Explanation:

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Solution (a)

Launched by: European launcher Ariane-5 (space vehicle)

Weighing 3,404 kg at lift-off, GSAT-18 carries 48 communication transponders to provide services in

Normal C-band, Upper Extended C-band and Ku-bands of the frequency spectrum. Television,

telecommunication, VSAT and digital satellite news gathering were a few of the services that GSAT 18

will support.

Source:

http://www.thehindu.com/sci-tech/science/communication-satellite-gsat18-successfully-launched/article9190037.ece

4. Gaza strip is frequently in news. It is

a) a landlocked region in Middle East

b) part of Egypt

c) a landlocked region in North Africa

d) None

Correct Answer: D

Your Answer: B

Explanation:

Solution (d)

Gaza, together with the West Bank, comprise the Palestinian territories claimed by the Palestinians as

the State of Palestine. The territories of Gaza and the West Bank are separated from each other by

Israeli territory. It is not a landlocked region - eastern coast of the Mediterranean Sea, that borders

Egypt and Israel.

5. Consider the following statements

1. It has got Geographical Indication status

2. Traditionally the toys were made up of sandal wood

3. The origin of these wooden toys can be traced to reign of Raja Wadiyar II

With regard to Channapatna toys, which of the statements given above is/are correct?

a) 1 Only

b) 1 and 2 Only

c) 2 and 3 Only

d) 1, 2 and 3

Correct Answer: A

Your Answer: A

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Explanation:

Solution (a)

The origin of these toys can be traced to the reign of Tipu Sultan who invited artisans from Persia to train

the local artisans in the making of wooden toys. Bavas Miyan is the father of Channapatna Toy

For nearly two centuries, ivory-wood was the main wood used in the making of these toys, though

rosewood and sandalwood were also occasionally used. Other woods used including rubber, sycamore,

cedar, pine and teak.

Source:

http://www.thehindu.com/news/national/karnataka/channapatnas-dolls-continue-to-charm-buyers/article9198430.ece

6. World Bank (WB) Group consists of

1. International Bank for Reconstruction and Development

2. International Development Agency

3. International Finance Corporation

4. Department of International Development

5. World Intellectual Property Organisation

Choose the correct option:

a) 1, 2 and 3

b) 1, 2 and 4

c) 1, 2, 3 and 4

d) 1, 2, 3 and 5

Correct Answer: A

Your Answer: A

Explanation:

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Solution (a)

World Bank (WB) Group consists of

1. International Bank for Reconstruction and Development

2. International Development Agency

3. International Finance Corporation

4. International Centre for Settlement of Investment Disputes

5. Multilateral Investment Guarantee Agency

The Department for International Development (DFID) leads the UK’s work to end extreme poverty,

building a safer, healthier, more prosperous world for all of us which is firmly in the UK’s national interest.

World Intellectual Property Organisation (WIPO) is the global forum for intellectual property services,

policy, information and cooperation. It is a UN organisation.

Source: About the World Bank

7. Consider the following statements in regard to Capital Market:

1. Capital market is a medium and a platform for long term funds. It helps to generate bulk fund for

government and industries.

2. The institutions in the capital market are called Non-Banking Financial Companies.

Which of the above given statement(s) is/are correct?

a) 1 only

b) 2 only

c) Both

d) None

Correct Answer: C

Your Answer: A

Explanation:

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Solution (c)

Capital Market and NBFCs

· Capital market is a medium and a platform for long term funds. It helps to generate bulk fund for

government and industries.

· The institutions in the capital market are called Non- Banking Financial Companies.

RBI classifies -- “Housing Finance Companies, Merchant Banking Companies, Stock Exchanges,

Companies engaged in the business of stock-broking/sub-broking, Venture Capital Fund Companies,

Nidhi Companies, Insurance companies and Chit Fund Companies -- as NBFCs”.

· All the institutions listed in the above observation are capital market institutions.

· But it is not necessary that all NBFCs are capital market institutions.

8. Below given are the statements in regard to India and WTO. Select the correct statement/s from the

code given below:

1. India is a founder-member of both GATT and WTO.

2. India’s Trade Policy Review by the WTO is carried out every year.

3. Highest decision-making body of the WTO is the Ministerial Conference.

Choose the appropriate answer:

a) 1 only

b) 1 and 2 only

c) 1 and 3 only

d) 2 and 3 only

Correct Answer: B

Your Answer: C

Explanation:

Solution (b)

WTO and India

· India is a founder-member of both GATT and WTO. The WTO provides a rule based, transparent and

predictable multilateral trading system.

· India’s TPR is carried out every four years (not every year).

· Last such review was in June 2015 which was Sixth Trade Policy Review (TPR) of India.

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9. Consider the following about World Intellectual Property Organisation (WIPO).

1. World Intellectual Property Organisation is a member of the World Bank group.

2. WIPO was created in 1967 “to encourage creative activity, to promote the protection of intellectual

property throughout the world”.

3. The predecessor to WIPO was the BIRPI ( Bureaux Internationaux Réunis pour la Protection de la

Propriété Intellectuelle , French acronym for United International Bureaux for the Protection of

Intellectual Property )

4. WIPO's member states and stakeholders share a common goal: an efficient and accessible

intellectual property system that provides benefits to all.

Select the correct answer:

a) 1 and 2 only

b) 1, 2 and 4only

c) 2, 3 and 4 only

d) All of the above

Correct Answer: C

Your Answer: Unanswered

Explanation:

Solution (c)

The World Intellectual Property Organization ( WIPO ) is one of the 17 specialized agencies of

the United Nations. WIPO was created in 1967 "to encourage creative activity, to promote the protection

of intellectual property throughout the world. It is not a World Bank group member”.

Source: WIPO - World Intellectual Property Organization

10. India is regarded as a country with “Demographic Dividend”. This is due to:

a) Its high population in the age group below 15 years

b) Its high population in the age group of 15-64 years

c) Its high population in the age group above 65 years

d) Its high total population

Correct Answer: B

Your Answer: B

Explanation:

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Solution (b)

The working-age population is said to be persons in age group 20-64 years, as per UN classification.

In India, it is 15-64 years. Usually India is regarded as a country with “Demographic Dividend” because

of its young working age population.

Source: Ramesh Singh, India and Global Economy Chapter -- CHANGING DYNAMICS OF

GLOBAL ECONOMY

11. Which of the following statement[s] is/are correct regarding the Government’s flagship program Jan

Dhan Yojana

1. It is a Zero-balance account

2. It covers both rural and urban areas

3. Any resident of India, who is of the age 10 years or above is eligible to open an account

4. The scheme provides for accidental insurance

a) 1, 2 and 3 Only

b) 1 and 4 Only

c) 1, 2 and 4 Only

d) 1, 2, 3 and 4

Correct Answer: C

Your Answer: C

Explanation:

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Solution (c)

Objective of " Pradhan Mantri Jan- Dhan Yojana (PMJDY)" is ensuring access to various financial

services like availability of basic savings bank account, access to need based credit, remittances facility,

insurance and pension to the excluded sections i.e. weaker sections & low income groups. This deep

penetration at affordable cost is possible only with effective use of technology.

The plan envisages universal access to banking facilities with at least one basic banking account for

every household, financial literacy , access to credit, insurance and pension facility. In addition,

the beneficiaries would get RuPay Debit card having inbuilt accident insurance cover of 1 lakh . The

plan also envisages channeling all Government benefits (from Centre / State / Local Body) to the

beneficiaries accounts and pushing the Direct Benefits Transfer (DBT) scheme of the Union

Government.

Swabhimaan – villages only; anyone but an Indian citizen >10 yrs eligible

Source:

http://www.thehindu.com/business/Economy/80-per-cent-jan-dhan-accounts-have-balance-now-says-jaitley/article9198691.ece

12. With reference to BRICS, consider the following statements

1. All 5 members of BRICS are members of G20

2. Asian Infrastructure Investment Bank was established by BRICS

3. The 8 th BRICS Summit will be the first summit India will be hosting since its inception

a) 1 Only

b) 2 and 3 Only

c) 1, 2 and 3

d) None

Correct Answer: A

Your Answer: A

Explanation:

Solution (a)

Delhi, 2012 (4 th Summit) - The BRICS Cable announced an optical fibre submarine communications

cable system that carries telecommunications between the BRICS countries.

Source: http://brics2016.gov.in/content/innerpage/about-usphp.php

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13. Hollock Gibbon is a precious jewel of the Indian forest. Consider the following statements regarding this

1. It is India’s only ape species

2. They are critically endangered species

3. Both species of Hollock Gibbon’s (Eastern and Western)are found in India

4. It is found only in North East India

a) 1, 2 and 3 Only

b) 2 and 4 Only

c) 2 and 3 Only

d) 1, 3 and 4

Correct Answer: D

Explanation:

Solution (d)

They are found in Assam and the low-end forests of eastern Brahmaputra. They are also found in

Nagaland. Its range extends into seven states covering Arunachal Pradesh, Assam, Manipur,

Meghalaya, Mizoram, Nagaland, and Tripura (The seven northeastern states of India)

Source:

http://www.thehindu.com/news/national/other-states/special-programme-on-conservation-of-gibbons/article7732017.ece

14. With reference to National Pension System (NPS), consider the following statements

1. The contribution to the scheme is on voluntary-basis

2. Any Indian citizen between the age of 18 to 60 years old is eligible for the scheme

3. NRI’s are eligible under the scheme

4. RBI regulates NPS scheme

a) 1, 2 and 3

b) 1 Only

c) 1 and 2 Only

d) 1, 3 and 4

Correct Answer: A

Explanation:

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Solution (a)

The NPS was launched on the 1st of January 2004 and was aimed at individuals newly employed with

the central government, but not including ones in the armed forces. From the year 2009 however, the

NPS was made open to every Indian citizen between the age of 18 and 60.

A voluntary, defined contribution retirement savings scheme designed to enable individuals to save

systematically during their earning life, was envisaged in 1999.

NPS seeks to inculcate the habit of saving for retirement and provide for regular income during the

retired years. And as life expectancy is on the way up, you may need to stack up more wealth than

estimated earlier. In fact, recent Union Ministry of Health and Family Welfare statistics show that life

expectancy in India has gone up by five years, from 62.3 years for males and 63.9 years for females

between 2001 and 2005 to 67.3 years and 69.6 years respectively between 2011 and 2015.

Source:

http://www.thehindu.com/business/Economy/who-will-regulate-pension-products/article9208436.ece

15. Drug prices are monitored and controlled by a ‘X’ authority/body which comes under

a) Ministry of Chemicals and Fertilizers

b) Ministry of Health and Family Welfare

c) Ministry of Finance

d) Prime Minister

Correct Answer: A

Your Answer: A

Explanation:

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Solution (a)

Drug prices are monitored and controlled by the National Pharmaceutical Pricing Authority (NPPA). All

the powers of Government of pricing according to Essential Commodities Act have been delegated to it.

Under DPCO, 2013 the powers to review are vested with the Government. Hence, the Department of

Pharmaceuticals is the reviewing authority whenever pharmaceutical companies file review petitions

against any price fixation done by NPPA.

It is pertinent to note that the Drugs & Cosmetics Act, 1940 and Rules made thereunder administered by

the Ministry of Health and Family Welfare do not contain any provisions for pricing of drugs. Instead,

pricing of drugs is administered under the provisions of the Drug Price Control Order (DPCO) and

National Pharmaceutical Pricing Policy by the National Pharmaceutical Pricing Authority (NPPA) under

Department of Pharmaceuticals, Ministry of Chemicals and Fertilisers.

Source:

http://indianexpress.com/article/business/business-others/govt-asks-nppa-to-re-fix-ceiling-prices-of-three-essential-drugs-3079574/

16. Which among the following is not SEBI regulated NBFC?

a) Venture Capital Fund

b) Merchant Banking companies

c) Stock Broking companies

d) Housing Loan companies

Correct Answer: D

Explanation:

Solution (d)

SEBI regulated NBFCs includes –

1. Venture Capital Fund

2. Merchant Banking companies

3. Stock Broking companies

Housing loan companies are regulated by National Housing Bank. Housing loan companies finance

construction and purchase of house.

17. Below given are the name of the banks and associated headquarters. Select the incorrect pair –

a) New Development Bank : : Shanghai

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b) Asian Infrastructure Investment Bank : : Beijing

c) Asian Development Bank : : Manila

d) None of the above

Correct Answer: D

Your Answer: D

Explanation:

Solution (d)

All the given pairs are matched correctly. Hence, (d) is the correct answer.

18. In India, mergers and acquisition of firms are regulated by

a) National Manufacturing Competitiveness Council

b) Competition Commission of India

c) Security and Exchange Board of India

d) Department or Industrial Policy and Promotion

Correct Answer: B

Explanation:

Solution (b)

In India, mergers and acquisition of firms are regulated by Competition Commission of India

19. Given below are some major symptoms of an economy:

1. Lower inflation with low aggregate demand

2. Unemployment rate increasing steadily

3. Voluntary labour cuts by industries

Select the correct phase of ‘economic cycle’ in which the economy seems to be under-going through:

a) Recession

b) Depression

c) Stagnation

d) Slowdown

Correct Answer: A

Your Answer: A

Explanation:

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Solution (a)

Recession is one of the economic/business cycle of the economies, which has the common symptoms

of: a general fall in aggregate demand of goods and services; lower levels of inflation; falling rate of

employment/rising rate of unemployment; production houses applying various tools of labour cuts (but

they are 'voluntary’ and not ‘forced’). With every symptom being the same, if the production houses start

going for ‘forced labour cuts’, this is the phase of ‘Depression’ which visited the market economies of

Europe and America in 1929 (the Great Depression).

20. Below given are the reports/index and publishing agency/institution. Select the incorrect one:

a) World Economic Outlook : : IMF

b) Global Competitive Index : : WTO

c) Ease of Doing Business : : IBRD (World Ban

d) Human Development Index : : UNDP

Correct Answer: B

Your Answer: B

Explanation:

Solution (b)

Global Competitive Index is published by World Economic Forum

21. With regard to Index of Industrial Production (IIP), consider the following statements

1. The base year is 2011-12

2. It is published monthly by Central Statistical Organisation

3. Highest weightage is given to mining sector

a) 2 Only

b) 1 and 2 Only

c) 1, 2 and 3

d) 1 and 3

Correct Answer: A

Your Answer: A

Explanation:

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Solution (a)

Base year – 2004-05

The Index of Industrial Production (IIP) is an index for India which details out the growth of various

sectors in an economy such as mining, electricity and manufacturing .

Related – 8 core sectors ( Electricity , steel, refinery products, crude oil, coal, cement, natural gas and

fertilisers.)

Composition of IIP Currently, the Index of Industrial Production comprises 682 individual items.

Maximum weightage is of manufacturing items (755.27), followed by Mining (141.57) and Electricity

(103.16)

Source:

http://www.thehindu.com/opinion/op-ed/how-is-the-indian-economy-really-doing/article9208453.ece

22. Consider the following statements regarding ‘Goods and Service tax’.

1. GST is a tax only on the value addition at each stage

2. Alcohol and tobacco products are kept out of proposed GST regime

Which of the above statement[s] is/are correct?

a) 1 Only

b) 2 Only

c) Both 1 and 2

d) Neither 1 nor 2

Correct Answer: A

Your Answer: C

Explanation:

Solution (a)

Alcoholic liquor for human consumption is exempt from GST.

Initially, GST will not apply to: (a) petroleum crude, (b) high speed diesel, (c) motor spirit (petrol), (d)

natural gas, and (e) aviation turbine fuel. The GST Council will decide when GST will be levied on them.

Tobacco and tobacco products will be subject to GST. The centre may also impose excise duty on

tobacco.

23. Recently, the Constitution (122nd Amendment) Bill 2014 (GST) got President’s assent. Which of the

following is NOT the provision under the Bill?

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a) A law made by Parliament in relation to GST will not override a state law on GST

b) Exclusive powers are given to centre over inter-state trade and commerce

c) All decisions of the GST Council will be made by two-third majority of the votes cast

d) Both ( and (

Correct Answer: C

Explanation:

Solution (c)

Goods and Services Tax (GST) Bill – Explained:

http://indianexpress.com/article/explained/gst-bill-parliament-what-is-goods-services-tax-economy-explained-2950335/

24. To which of the following category, Noble prizes are NOT given?

a) Physiology

b) Literature

c) Chemistry

d) None

Correct Answer: D

Your Answer: D

Explanation:

Solution (d)

The Nobel Peace Prize is one of the five Nobel Prizes created by the Swedish industrialist, inventor, and

armaments manufacturer Alfred Nobel, along with the prizes in Chemistry, Physics, Physiology or

Medicine, and Literature.

The Nobel Prize is a set of annual international awards bestowed in a number of categories by Swedish

and Norwegian institutions in recognition of academic, cultural, and/or scientific advances.

25. The management of Haj Pilgrimage comes under

a) Ministry of Minority Affairs

b) Ministry of Culture

c) Ministry of External Affairs

d) Ministry of Home Affairs

Correct Answer: A

Your Answer: A

Explanation:

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Solution (a)

The work related to management of Haj pilgrimage has been transferred from Ministry of External Affairs

to Ministry of Minority

Source:

http://www.thehindu.com/news/national/haj-pilgrimage-comes-under-control-of-minority-affairs-ministry/article9193652.ece

26. Which of the below given statements is correct?

a) The UN Monetary and Financial Conference held post Second World War established the

international trading regime called General Agreement on Trade and Tariffs.

b) WTO is part of whole set up of UNO and thus is guided by the actions its member bodies.

c) IMF follow voting by consensus pattern by which each member gets to ensure their idea is

considered.

d) WTO doesn’t have weighted voting as the World Bank or the IMF and goes by the system of one

member one vote.

Correct Answer: D

Explanation:

Solution (d)

The conference referred to in statement (a) is Bretton Wodds Conference and it lead to World Bank and

IMF coming to place.

WTO is not part of UN set up and is independent. However both share an agreement between each

other.

IMF follow weighted voting and the members with higher quota get a higher voice.

27. Consider the following about industrial policy 1991:

1. One of the major objectives was to liberalise the industry from regulatory devices such as licenses

and controls.

2. Ensuring PSUs are not exposed to competition and protected from private sector push.

Select the correct answer:

a) 1 only

b) 2 only

c) Both 1 and 2

Correct Answer: A

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Your Answer: C

Explanation:

Solution (a)

Introducing competition and ensuring PSUs are run on business lines with no undue protection was the

major objective of the industrial policy 1991.

28. Which one among the following sectors has attracted the highest foreign direct investment inflows into

India in the last 25 years?

a) Automobile industries

b) Services sector

c) Food processing

d) Special Economic Zones

Correct Answer: A

Your Answer: A

Explanation:

Solution (a)

Overall the telecommunication sector has been the highest FDI attracting sector of the Indian Economy.

But among the given options, Automobile industry had attracted highest FDI inflows.

29. Consider the following international economic organizations:

1. International Bank for Reconstruction and Development (IBRD)

2. International Finance Corporation (IFC)

3. International Fund for Agricultural Development (IFAD)

4. International Monetary Fund (IMF)

Which of the above given agencies is/are not sponsored by the United Nations?

a) 1 and 2

b) 1 only

c) 2 and 3

Correct Answer: D

Explanation:

Solution (d)

All are sponsored by United Nations Organisation.

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30. Consider the following statements related to the RBI:

1. Reserve Bank of India was privately owned before its nationalisalion .

2. After nationalisation the RBI seized to function as a bank.

Which of the above is/are not correct?

a) 1 only

b) 2 only

c) Both

d) None

Correct Answer: D

Explanation:

Solution (d)

After independence, the government passed Reserve Bank (Transfer to Public Ownership) Act, 1948

and took over RBI from private shareholders after paying appropriate compensation. Thus,

nationalisation of RBI took place in 1949 and from January 1, 1949, RBI started working as a

government owned central bank of India.

Source: https://www.rbi.org.in/scripts/aboutusdisplay.aspx

31. Consider the following statements about ethanol blending

1. It is the practice of blending petrol with ethanol

2. It reduces vehicular emissions & import burden on account of crude petroleum

3. Ethanol blending first found mention in the National Policy on Bio-fuels, 2009

Which of the following statements is/are correct?

a) Only 1

b) 1 and 2

c) 2 and 3

d) All of the above

Correct Answer: B

Explanation:

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Solution (b)

It is the practice of blending petrol with ethanol. Many countries, including India, have adopted ethanol

blending in petrol in order to reduce vehicle exhaust emissions and also to reduce the import burden on

account of crude petroleum from which petrol is produced. It is estimated that a 5% blending (105 crore

litres) can result in replacement of around 1.8 million Barrels of crude oil. The renewable ethanol content,

which is a by-product of the sugar industry, is expected to result in a net reduction in the emission of

carbon dioxide, carbon monoxide (CO) and hydrocarbons (HC). Ethanol itself burns cleaner and burns

more completely than petrol it is blended into. In India, ethanol is mainly derived by sugarcane molasses,

which is a by-product in the conversion of sugar cane juice to sugar.

Ethanol blending first found mention in the Auto fuel policy of 2003. It suggested developing technologies

for producing ethanol/ bio fuels from renewable energy sources and introducing vehicles to utilise these

bio fuels. Later, as per National Policy on Bio-fuels, announced in December 2009, oil companies were

required to sell petrol blended with at least 5% of ethanol. It proposed that the blending level be

increased to 20% by 2017.

Source:

http://indianexpress.com/article/business/commodities/cabinet-nod-to-revision-of-ethanol-price-for-petrol-blending-3080428/

32. 15.2% of Indians are undernourished according to Global Hunger Index (GHI). GHI is published by

a) World Health Organisation

b) Médecins Sans Frontières (MSF)

c) International Food Policy Research Institute (IFPRI)

Correct Answer: C

Your Answer: C

Explanation:

Solution (c)

Source:

http://www.livemint.com/Politics/ZIPsHik4xPnCQMJlrWYTuM/Indias-hunger-crisis-is-worse-than-other-South-Asian-nation.html

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33. Consider the following statements about Polymerase chain reaction (PCR)

1. It is a technique used in molecular biology to amplify a single copy or a few copies of a piece of DNA

across several orders of magnitude, generating thousands to millions of copies of a particular DNA

sequence

2. It is a recombinant DNA method

3. It is used for Chick Sexing

a) Only 1

b) 1 and 2

c) 1 and 3

d) All of the above

Correct Answer: C

Explanation:

Solution (c)

PCR is a technique used in molecular biology to amplify a single copy or a few copies of a piece of DNA

across several orders of magnitude, generating thousands to millions of copies of a particular DNA

sequence.

PCR is not generally considered to be a recombinant DNA method, as it does not involve cutting and

pasting DNA, only amplification of existing sequences.

Source:

http://www.thehindu.com/news/cities/chennai/gender-identification-with-feathers-of-birds-by-madras-vet-college/article9202355.ece

34. NASA Invents ‘Electric Gauze’ That Can Speed Up Wound Healing. Consider the following statements

1. The fibres of the guaze are made of Polyvinylidene Flouride (PVDF)

2. Only one time external power source is required

3. Wounds tend to heal much more quickly if small amounts of electricity are applied to the surrounding

tissue

a) Only 1

b) 1 and 3

c) 2 and 3

d) All of the above

Correct Answer: B

Your Answer: B

Contact :

IASbaba

Score: 38.74 / 100

Explanation:

Solution (b)

US space agency NASA has developed a high-tech electroactive bandage that creates an electric

charge to help promote the healing process of wounds. The bandage is made of an electroactive

material that is stimulated by pressure of cell growth and body heat.

An electroactive device is applied to an external wound site, which utilises low level electrical stimulation

to promote wound healing. Electroactive material is so sensitive that a push or even blow on it can

create an electric charge.

The fibres of the guaze are made of electroactive material Polyvinylidene Flouride (PVDF) which are

stimulated by the heat of the body and the pressure of cell growth, thus no external power source is

required.

The bandage also minimises infection and related complications such as illness or amputation. It speeds

the wound’s healing process. The electroactive material is made using a polyvinylidene fluoride (PVDF).

Source:

http://timesofindia.indiatimes.com/home/science/Nasas-electric-bandage-to-speed-up-wound-healing/articleshow/54781697.cms

35. Which of the following regulates pension products

1. PFRDA

2. IRDA

3. SEBI

Select the correct code:

a) Only 1

b) 1 and 2

c) 1 and 3

d) All of the above

Correct Answer: D

Your Answer: D

Explanation:

Contact :

IASbaba

Score: 38.74 / 100

Solution (d)

Pension products floated by insurance companies come under the purview of the Insurance Regulatory

and Development Authority (IRDA) while those sold by mutual funds are overseen by the SEBI.

Source:

http://www.thehindu.com/business/Economy/who-will-regulate-pension-products/article9208436.ece

36. Consider the following statements with regard to India and IMF:

1) India is the founder member of the IMF and also among the top 10 members of IMF

2) India was among the first five nations having the highest quota with IMF and due to this status India

was allotted a permanent place in Executive Board of Directors.

a) 1 only

b) 2 only

c) Both

d) None

Correct Answer: C

Your Answer: A

Explanation:

Solution (c)

IMF works on quota system, Countries contribute funds to a pool through a quota system from which

countries experiencing balance of payments difficulties can borrow money. IMF is controlled and

managed by a Board of Governors. Currently there are 24 Directors and each representing a single

country or a group of countries. The transactions of IMF are expressed in Special Drawing Right (SDR)

which is also known as Paper Gold. The IMF's financial year is form May 1 to April 30.

India is the founder member of the IMF and also among the top 10 members of IMF, along with the U.S,

Japan, France, Germany, Italy, the United Kingdom, China and Russia. IMF has played an important

role in Indian economy. IMF has provided economic assistance from time to time to India and has also

provided appropriate consultancy in determination of various policies in the country. India was among

the first five nations having the highest quota with IMF and due to this status India was allotted a

permanent place in Executive Board of Directors.

37. Bank Rate implies the rate of interest

a) paid by the Reserve Bank of India on the Deposits of Commercial Banks

b) charged by Banks on loans and advances

c) payable on Bonds

Contact :

IASbaba

Score: 38.74 / 100

d) at which the Reserve Bank of India discounts the Bills of Exchange

Correct Answer: D

Your Answer: B

Explanation:

Solution (d)

Bank rate is the rate charged by the central bank for lending funds to commercial banks.

Bank rates influence lending rates of commercial banks. Higher bank rate will translate to higher lending

rates by the banks. In order to curb liquidity, the central bank can resort to raising the bank rate and vice

versa.

38. Which among the following are a part of core industries?

1) Fertilizers

2) Refinery Products

3) Natural Gas

4) Iron

5) Cement

6) Electricity

Choose the correct code:

a) 1,2,4,5 and 6

b) 1,2,3,4 and 6

c) 1,2,3,5 and 6

d) 1,2,3,4,5 and 6

Correct Answer: C

Your Answer: A

Explanation:

Solution (c)

There are eight core sector industries - Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizers,

Steel (Note: No Iron or Iron ore), Cement and Electricity.

39. Which of the following grants/ grant direct credit assistance to rural households?

1) Regional Rural Banks

2) National Bank for Agriculture and Rural Development

3) Land Development Banks

Select the correct answer using the codes given below:

a) 1 and 2 only

b) 2 only

Contact :

IASbaba

Score: 38.74 / 100

c) 1 and 3 only

d) 1, 2 and 3

Correct Answer: C

Your Answer: B

Explanation:

Solution (c)

NABARD doesn’t give “direct” credit assistance. It provides credit via intermediaries such as

Microfinance companies, cooperative society, RRB.

40. Priority Sector Lending by banks in India constitutes the lending to

a) agriculture

b) micro and small enterprises

c) weaker sections

d) All of the above

Correct Answer: D

Your Answer: D

Explanation:

Solution (d)

For more, refer

· Page 15.12 of Indian Economy by Ramesh Singh

· Page 374 of India 2013 Yearbook third paragraph

41. Which of the following statements is true about 'P-Notes' in India?

1. These are issued by SEBI in India

2. They cannot be used within the country

3. Investors in P-Notes are not required to register with SEBI

4. Due to the issue of money laundering, P-Notes are banned in India

Select the correct answer using the code given below.

a) 1, 2 and 3 only

b) 2 and 3 only

c) 1 and 4 only

d) 1, 2, 3 and 4

Correct Answer: B

Contact :

IASbaba

Score: 38.74 / 100

Explanation:

Solution (b)

Participatory Notes commonly known as P-Notes or PNs are instruments issued by registered foreign

institutional investors (FII) to overseas investors, who wish to invest in the Indian stock markets without

registering themselves with the market regulator, the Securities and Exchange Board of India - SEBI.

SEBI permitted foreign institutional investors to register and participate in the Indian stock market in

1992. PNs have decreased but not completely banned.

A Participatory Note (PN or P-Note) in the Indian context, in essence, is a derivative instrument issued in

foreign jurisdictions, by SEBI and a registered Foreign Institutional Investor (FII) or its sub-accounts or

one of its associates, against underlying Indian securities. PNs are also known as Overseas Derivative

Instruments, Equity Linked Notes, Capped Return Notes, and Participating Return Notes etc.

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