UPSC Economics and Social Development

1. Question

1 points

Why is the Government of India disinvesting its equity in the Central Public Sector Enterprises (CPSEs)?
1. The Government intends to use the revenue earned from the disinvestment mainly to pay back the external debt.
2. The Government no longer intends to retain the management control of the CPSEs.
Which of the statements given above is/are correct? [UPSC 2011 (CS-P)]

1 only
2 only
Both 1 and 2
Neither 1 nor 2

2. Question

1 points

With reference to the Finance Commission of India, which of the following statements is correct? [UPSC 2011 (CS-P)]

It encourages the inflow of foreign capital for infrastructure development
It facilitates the proper distribution of finances among the Public Sector Undertakings
It ensures transparency in financial administration
None of the statements (a), (b) and (c) given above is correct in this context

3. Question

1 points

Which one of the following is not a feature of “Value Added Tax”? [UPSC 2011 (CS-P)]

It is a multi-point destination-based system of taxation
It is a tax levied on value addition at each stage of transaction in the production-distribution chain
It is a tax on the final consumption of goods or services and must ultimately be borne by the consumer
It is basically subject of the Central Government and the State Governments are only a facilitator for its successful implementation

4. Question

1 points

Which one of the following is not a feature of Limited Liability Partnership firm? [UPSC 2010 (CS-P)]

Partners should be less than 20.
Partnership and management need not be separate.
Internal governance may be decided by mutual agreement among partners.
It is corporate body with perpetual succession.

5. Question

1 points

With reference to the institution of Banking Ombudsman in India, which one of the statements is not correct? [UPSC 2010 (CS-P)]

The Banking Ombudsman is appointed by the Reserve Bank of India.
The Banking Ombudsman can consider complaints from Non – Resident Indians having accounts in India.
The orders passed by the Banking Ombudsman are final and binding on the parties concerned.
The service provided by the Banking Ombudsman is free of any fee.

6. Question

1 points

Which one of the following is not related to United Nations? [UPSC 2010 (CS-P)]

Multilateral Investment Guarantee Agency.
International Finance Corporation.
International Centre for Settlement of Investment Disputes.
Bank for International Settlements.

7. Question

1 points

Which one of the following statements appropriately describes the “fiscal stimulus”? [UPSC 2011 (CS-P)]

It is a massive investment by the Government in manufacturing sector to ensure the supply of goods to meet the demand surge caused by rapid economic growth
It is an intense affirmative action of the Government to boost economic activity in the country
It is Government’s intensive action on financial institutions to ensure disbursement of loans to agriculture and allied sectors to promote greater food production and contain food inflation
It is an extreme affirmative action by the Government to pursue its policy of financial inclusion.

8. Question

1 points

Which one of the following statements is an appropriate description of deflation? [UPSC 2010 (CS-P)]

It is a sudden fall in the value of a currency against other currencies.
It is a persistent recession in both the financial and real sectors of economy.
It is a persistent fall in the general price level of goods and services.
It is a fall in the rate of inflation over a period of time.

9. Question

1 points

Which one of the following was not stipulated in the Fiscal Responsibility and Budget Management Act, 2003? [UPSC 2010 (CS-P)]

Elimination of revenue deficit by the end of the Fiscal year 2007-2008.
Non borrowing by the central government from Reserve Bank of India except under certain Circumstance.
Elimination of Primary deficit by the end of the fiscal year 2008-2009.
Fixing government Guarantees in any financial year as a percentage of GDP.

10. Question

1 points

With reference to BRIC countries, consider the following statements:
1. At present, China’s GDP is more than the combined GDP of all the three other countries.
2. China’s population is more than the combined population of any two other countries.
Which of the statements given above is/are correct? [UPSC 2010 (CS-P)]

1 only
2 only
Both 1 and 2
Neither 1 nor 2

Economics and Social Development – Test 1

Economics and Social Development (UPSC General Studies Questions) - Test 1

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