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Economic and Social Development - 2

Description: Economic and Social Development - 2
Number of Questions: 25
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Tags: Economic and Social Development MPSC HPSC HSSC UPPSC TNPSC KPSC OPSC GPSC PPSC JKPSC UPSC CSAT Indian Economy
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IRDP was introduced in the year

  1. 1978-79

  2. 1979-80

  3. 1980-81

  4. 1981-82


Correct Option: A
Explanation:

IRDP was introduced in the year 1978-79. Integrated rural development programme was introduced in Mizoram in 1978 at a very small scale. It is centrally sponsored programme funded by the central and the state governments on 50 : 50 bases. 

The service tax rate, as proposed in the Union Budget 2011-12, was

  1. 8%

  2. 9%

  3. 10%

  4. 12%


Correct Option: C
Explanation:

The service tax rate, as proposed in the Union Budget 2011-12, was 10%. 

Which plan has now been extended to both urban and rural areas?

  1. Prime Minister's Employment Scheme

  2. Jawahar Rozgar Yojana

  3. Akshat Yojana for Unemployed Graduate

  4. Jan Shree Bima Yojana


Correct Option: A
Explanation:

Prime Minister's Employment Scheme has now been extended to both urban and rural areas. Prime Minister's Employment Generation Programme will be a Central Sector Scheme to be administered by the Ministry of Micro, Small and Medium Enterprises, MoMSME. At the State level, the Scheme will be implemented through State KVIC Directorates, State Khadi and Village Industries, Boards and District Industries Centres and banks. 

The 11th plan period in India was...........

  1. 2000-2005

  2. 2001-2006

  3. 2002-2007

  4. 2007-12


Correct Option: D
Explanation:

The 11th plan period in India was 2007-12. The economy of India is based in part on planning through its five-year plans, which are developed, executed and monitored by the Planning Commission. The tenth plan completed its term in March 2007 and the eleventh plan is currently underway. 

Which of the following is not a quantitative measure for credit control?

  1. Open Market operations

  2. Margin requirements for debts

  3. Bank Rate

  4. SLR variation


Correct Option: B
Explanation:

Margin requirements for debts are not a quantitative measure for credit control. Margin Debits is the dollar value of securities purchased on margin within an account. Margin debt carries an interest rate, and the amount of margin debt will change daily as the value of the underlying securities changes. 

Which day is celebrated as 'National Excise Duty Day'?

  1. 10th June

  2. 14th April

  3. 24th February

  4. 26th March


Correct Option: C
Explanation:

24th Febuary is celebrated as 'National Excise Duty Day'. Central Excise Day is celebrated all over India on 24th February. Different states of the country conduct various types of programs on this day. The day marks the day of enactment of the Central Excise and Salt Act, 1944. 

KVIC (Khadi and Village Industry Commission) was established in the ...........

  1. First Five Year Plan

  2. Second Five Year Plan

  3. Third Five Year Plan

  4. Fourth Five Year Plan


Correct Option: B
Explanation:

KVIC (Khadi and Village Industry Commission) was established in the Second Five Year Plan.  Khadi and Village Industries (KVIC) were formed during the second five year plan by promulgation of an Act in the parliament with the aim to develop Khadi & Village Industries. The headquarters of the Commission is at Bombay & in each State they have an office to have close monitoring of implementation of their programmes.  

Which industrial sector got high rate of growth in its cooperative units?

  1. Cement

  2. Cotton textile

  3. Jute

  4. Sugar


Correct Option: D
Explanation:

The sugar industrial sector got high rate of growth in its cooperative units. Cooperative sector is dominant in its sugar industry. The sugar industry has a turnover of Rs. 20,000 crore. It has been playing a significant role in overall socio-economic development of the state for the past six decades. 

In which state is 'Kanya Vidyadhan Yojana' operational?

  1. Haryana

  2. Madhya Pradesh

  3. Rajasthan

  4. Uttar Pradesh


Correct Option: D
Explanation:

'Kanya Vidyadhan Yojana' is operational in Uttar Pardesh. In order to encourage women education, the government of Uttar Pardesh implemented a new programme named Kanya Vidyadhan Yojana. Under the programme, an expenditure of Rs. 200 crores would be met out.

India Development Bond was issued in 1991-92 by....

  1. NHB

  2. SBI

  3. UTI

  4. RBI


Correct Option: B
Explanation:

India Development Bond was issued in 1991-92 by SBI. The Indian development bond and the immunity scheme for the repartition of funds held abroad were introduced in the October 1991. The schemes proved to be highly successful as they mobilized $1.605 billion and $793 million respectively.  

Which plan was suspended one year before the time schedule?

  1. First Five-Year Plan (1951-56)

  2. Third Five-Year Plan (1966-71)

  3. Sixth Five-Year Plan (1980-85)

  4. Fifth Five-Year Plan (1974-79)


Correct Option: D
Explanation:

The Fifth Five-Year Plan (1974-79) was suspended one year before the time schedule. The world economy was in a troublesome state when the Fifth Five-Year Plan was chalked out. This had a negative impact on the Indian economy. Prices in the energy and food sectors skyrocketed and as a consequence, inflation became inevitable. Therefore, the priority in the Fifth Five-Year Plan was given to the food and energy sectors. So, it was suspended one year before the time schedule.

On the lines of 'Palace on Wheels', a new train 'Deccan Odyssey' is being operated in the

  1. Maharashtra and Goa

  2. Tamil Nadu and Karnataka

  3. Kerala and Tamil Nadu

  4. Karnataka and Kerala


Correct Option: A
Explanation:

On the lines of 'Palace on Wheels', a new train 'Deccan Odyssey' is being operated in Maharashtra and Goa

Which statement(s) is/are true for Gold Bond Scheme?

  1. Minimum limit of gold deposit 500 gm

  2. No investigation of source of deposited gold

  3. No upper limit of gold deposit

  4. All of the above

  5. None of these


Correct Option: D
Explanation:

Gold Bond Scheme includes minimum limit of gold deposit is 500 gm, no investigation of source of deposited gold and no upper limit of gold deposit. There has been a rush of gold imports into the countryand this is a major reason behind the ballooning of the trade deficit. It is interesting that the Government should be proposing a gold deposit scheme at such a juncture which has some of the objectives listed above. 

Which of the following industries in India is the most labour-oriented?

  1. Cotton Industry

  2. Iron and Steel Industry

  3. Jute Industry

  4. Cement Industry


Correct Option: A
Explanation:

Cotton Industry in India is the most labour-oriented. Cotton plantations required vast labour forces to hand-pick cotton and it was not until the 1950s that reliable harvesting machinery was introduced in the South. During the early 20th century, employment in the cotton industry fell as machines began to replace labourers and the South's rural labour force dwindled during the First and Second World Wars. 

The first 'Garib Rath' train was flagged off between

  1. Delhi and Mumbai

  2. Amritsar and Saharsa

  3. Delhi and Chennai

  4. Delhi and Patna

  5. Delhi and Mumbai


Correct Option: B
Explanation:

The first 'Garib Rath' train was flagged off between Amritsar and Saharsa.

National income on current prices is higher than that at constant prices because

  1. price increase is lower than increase in production.

  2. price increase is equal to increase in production.

  3. price increase is higher than increase in production.

  4. decrease in production.


Correct Option: C
Explanation:

National income on current prices is higher than that at constant prices because price increase is higher than increase in production. When the value of goods and services is found out by multiplying the quantity produced during one year by the prices prevailing in that year, we call it National income at Current Prices. On the other hand, when the value of goods and services is calculated by multiplying the quantity during one year with prices of the base year, we call it National Income at Constant Prices. 

'Open market operation' is a part of

  1. income policy

  2. credit policy

  3. labour policy

  4. fiscal policy

  5. medical policy


Correct Option: B
Explanation:

'Open market operation' is a part of credit policy. Open market operation includes any of the purchases and sales of government securities and sometimes commercial paper by the central banking authority for the purpose of regulating the money supply and credit conditions on a continuous basis.

Presently (from Sept 2010) bank rate in India is.............

  1. 6·0%

  2. 6.25%

  3. 6·75%

  4. 7·0%


Correct Option: A
Explanation:

Presently (from Sept 2010) bank rate in India is 6·0%. The interest rate that is charged by a country's central or federal bank on loans and advances to control money supply in the economy and the banking sector is the bank rate. This is typically done on a quarterly basis to control inflation and stabilize the country's exchange rates which is 6% presently.

Which Indian Five-Year Plan ensured higher growth rate than the targeted growth rate?

  1. Second Five-Year Plan

  2. Fourth Five-Year Plan

  3. Fifth Five-Year Plan

  4. Eighth Five-Year Plan


Correct Option: D
Explanation:

The Eighth Five-Year Plan ensured higher growth rate than the targeted growth rate. The major objectives included in this plan were controlling population growth, poverty reduction, employment generation, strengthening the infrastructure, institutional building, tourism management, human resource development, involvement of Panchayat Raj, Nagar Palikas, NGOs and people. 

The headquarters of SIDBI are in

  1. Bangalore

  2. Mumbai

  3. Lucknow

  4. New Delhi

  5. Hyderabad


Correct Option: C
Explanation:

The headquarters of SIDBI are in Lucknow. There are many branches of SIDBI bank all over India, i.e. in Mumbai, Ahmedabad, Coimbatore, Guwahati, Chandigarh, New Delhi, etc, but the main headquarters of it are located in Lucknow.  

When was the SJSRY scheme started?

  1. December 1, 1996

  2. December 1, 1997

  3. December 1, 1999

  4. December 31, 1999


Correct Option: B
Explanation:

SJSRY scheme started on December 1, 1997. With a view to provide gainful employment to the urban unemployed or underemployed through encouraging the setting up of self-employment ventures or provision of wage employment, a new urban poverty alleviation programme, namely, Swarna Jayanti Shahari Rojgar Yojana (SJSRY) was launched on 01.12.1997 after subsuming the earlier three Urban Poverty Alleviation Schemes, namely Urban Basic Services for the Poor (UBSP), Nehru Rojgar Yojana (NRY) and Prime Ministers Integrated Urban Poverty Eradication Programme (PMI UPEP). 

When was Sampurna Gramin Rojgar Yojana launched?

  1. 1st April, 2001

  2. 30th September, 2001

  3. 25th September, 2001

  4. No scheme of such title has yet been launched.


Correct Option: C
Explanation:

Option 3 is correct.

Currency notes of Rs. 20 and higher denomination are printed at

  1. Bank Note Press, Dewas

  2. Currency Note Press, Nasik Road

  3. Security Printing Press, Hyderabad

  4. All of these


Correct Option: A
Explanation:

Currency notes of Rs. 20 and higher denomination are printed at Bank Note Press, Dewas

At present the share of Indian Foreign Trade in World Trade is.........

  1. Below 0.5%

  2. Between 0.5% to 1.0%

  3. Between 1.0% to 1.5%

  4. Above 1.5%


Correct Option: B
Explanation:

At present the share of Indian Foreign Trade in World Trade is from 0.5% to 1.0%. According to the latest information by the WTO, India's share in total world trade is from .5% to 1%. In 1950s, India's share in the world trade was 1.78% which was declined to 0.59% in 1990 and continues to remain around 0.60% till now.  

Tax Information Network (TIN), started in January 2004 is associated with

  1. Corporation Tax

  2. Sales Tax

  3. Excise Duty

  4. Income Tax


Correct Option: D
Explanation:

Tax Information Network (TIN), started in January 2004 is associated with Income Tax.TIN is an initiative by Income Tax Department of India (ITD) for the modernization of the current system for collection, processing, monitoring and accounting of direct taxes using information technology. TIN is a repository of nationwide Tax related information, and has been established by National Securities Depository Limited on behalf of ITD. 

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