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Indian Economy

621 questions asked in UPSC Prelims.

2017 · Q20Indian EconomyFiscal Policy & Budgetmoderate

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 ?

  1. (a)1 only
  2. (b)2 only
  3. (c)1 and 3 only
  4. (d)2 and 3 only
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Official answer(b) 2 only

2017 · Q29Indian EconomyHuman Development, Poverty & Employment Schemeseasy

Who among the following can join the National Pension System (NPS) ?

  1. (a)Resident Indian citizens only
  2. (b)Persons of age from 21 to 55 only
  3. (c)All State Government employees joining the services after the date of notification by the respective State Governments
  4. (d)All Central Government employees including those of Armed Forces joining the services on or after 1st April, 2004
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Official answer(c) All State Government employees joining the services after the date of notification by the respective State Governments

2017 · Q33Indian EconomyAgriculture & Rural Developmentmoderate

What is/are the advantage/advantages of implementing the 'National Agriculture Market' scheme ? 1. It is a pan-India electronic trading portal for agricultural commodities. 2. It provides the farmers access to nationwide market, with prices commensurate with the quality of their produce. Select the correct answer using the code given below :

  1. (a)1 only
  2. (b)2 only
  3. (c)Both 1 and 2
  4. (d)Neither 1 nor 2
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Official answer(c) Both 1 and 2

2017 · Q34Indian EconomyInternational Trade & WTOmoderate

With reference to the '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 ?

  1. (a)1 only
  2. (b)2 only
  3. (c)Both 1 and 2
  4. (d)Neither 1 nor 2
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Official answer(c) Both 1 and 2

2017 · Q41Indian EconomyInternational Institutions & Reportsmoderate

With reference to 'Asia Pacific Ministerial Conference on Housing and Urban Development (APMCHUD)', consider the following statements : 1. The first APMCHUD was held in India in 2006 on the theme 'Emerging Urban Forms — Policy Responses and Governance Structure'. 2. India hosts all the Annual Ministerial Conferences in partnership with ADB, APEC and ASEAN. Which of the statements given above is/are correct ?

  1. (a)1 only
  2. (b)2 only
  3. (c)Both 1 and 2
  4. (d)Neither 1 nor 2
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Official answer(d) Neither 1 nor 2

2017 · Q43Indian EconomyDigital Payments & Financial Inclusionmoderate

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

  1. (a)Mobile wallets will not be necessary for online payments.
  2. (b)Digital currency will totally replace the physical currency in about two decades.
  3. (c)FDI inflows will drastically increase.
  4. (d)Direct transfer of subsidies to poor people will become very effective.
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Official answer(a) Mobile wallets will not be necessary for online payments.

2017 · Q56Indian EconomyInternational Institutions & Reportseasy

The Global Infrastructure Facility is a/an

  1. (a)ASEAN initiative to upgrade infrastructure in Asia and financed by credit from the Asian Development Bank.
  2. (b)World Bank collaboration that facilitates the preparation and structuring of complex infrastructure Public-Private Partnerships (PPPs) to enable mobilization of private sector and institutional investor capital.
  3. (c)Collaboration among the major banks of the world working with the OECD and focused on expanding the set of infrastructure projects that have the potential to mobilize private investment.
  4. (d)UNCTAD funded initiative that seeks to finance and facilitate infrastructure development in the world.
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Official answer(b) World Bank collaboration that facilitates the preparation and structuring of complex infrastructure Public-Private Partnerships (PPPs) to enable mobilization of private sector and institutional investor capital.

2017 · Q61Indian EconomyHuman Development, Poverty & Employment Schemesmoderate

With reference to 'National Skills Qualification Framework (NSQF)', which of the statements given below is/are correct ? 1. Under NSQF, a learner can acquire the certification for competency only through formal learning. 2. An outcome expected from the implementation of NSQF is the mobility between vocational and general education. Select the correct answer using the code given below :

  1. (a)1 only
  2. (b)2 only
  3. (c)Both 1 and 2
  4. (d)Neither 1 nor 2
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Official answer(b) 2 only

2017 · Q63Indian EconomyHuman Development, Poverty & Employment Schemesmoderate

Consider the following in respect of 'National Career Service' : 1. National Career Service is an initiative of the Department of Personnel and Training, Government of India. 2. National Career Service has been launched in a Mission Mode to improve the employment opportunities to uneducated youth of the country. Which of the above statements is/are correct ?

  1. (a)1 only
  2. (b)2 only
  3. (c)Both 1 and 2
  4. (d)Neither 1 nor 2
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Official answer(d) Neither 1 nor 2

2017 · Q64Indian EconomyBanking & Financial Sectoreasy

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

  1. (a)It is a procedure for considering ecological costs of developmental schemes formulated by the Government.
  2. (b)It is a scheme of RBI for reworking the financial structure of big corporate entities facing genuine difficulties.
  3. (c)It is a disinvestment plan of the Government regarding Central Public Sector Undertakings.
  4. (d)It is an important provision in 'The Insolvency and Bankruptcy Code' recently implemented by the Government.
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Official answer(b) It is a scheme of RBI for reworking the financial structure of big corporate entities facing genuine difficulties.

2017 · Q72Indian EconomyAgriculture & Rural Developmenteasy

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 ?

  1. (a)1 and 2 only
  2. (b)3 only
  3. (c)2 and 3 only
  4. (d)1, 2 and 3
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Official answer(b) 3 only

2017 · Q77Indian EconomyEconomic Planning & Five-Year Plansmoderate

Which of the following has/have occurred in India after its liberalization of economic policies in 1991 ? 1. Share of agriculture in GDP increased enormously. 2. Share of India's exports in world trade increased. 3. FDI inflows increased. 4. India's foreign exchange reserves increased enormously. Select the correct answer using the codes given below :

  1. (a)1 and 4 only
  2. (b)2, 3 and 4 only
  3. (c)2 and 3 only
  4. (d)1, 2, 3 and 4
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Official answer(b) 2, 3 and 4 only

2017 · Q81Indian EconomyTaxationmoderate

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 economy of India and will enable it to overtake China in the near future. Select the correct answer using the code given below :

  1. (a)1 only
  2. (b)2 and 3 only
  3. (c)1 and 3 only
  4. (d)1, 2 and 3
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Official answer(a) 1 only

2016 · Q4Indian EconomyDigital Payments & Financial Inclusionmoderate

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. Select the correct answer using the code given below.

  1. (a)1 and 2 only
  2. (b)1 and 3 only
  3. (c)2 only
  4. (d)1, 2 and 3
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Official answer(b) 1 and 3 only

2016 · Q7Indian EconomyInfrastructure & Industryeasy

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

  1. (a)Providing technical and financial assistance to start-up entrepreneurs in the field of renewable sources of energy
  2. (b)Providing electricity to every household in the country by 2018
  3. (c)Replacing the coal-based power plants with natural gas, nuclear, solar, wind and tidal power plants over a period of time
  4. (d)Providing for financial turnaround and revival of power distribution companies
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Official answer(d) Providing for financial turnaround and revival of power distribution companies