Expected Questions with Answers (Part - 5), Economy Traditional UPSC Notes | EduRev

Question: 1. ‘Aam Admi Bima Yojana’, a scheme for rural landless household, is introduced by
 Ans: LIC

Question: 2. CENVAT is related to
 Ans: Excise duty

Question: 3. What is open sky scheme?
 Ans: Export Promotion scheme of civil Aviation Ministry

Question: 4. ‘Aasha home Loan Scheme’ is launched by _____
 Ans: AXIS Bank

Question: 5. The Industrial Licensing Policy Inquiry Committee which submitted its report in  1969 is popularly known as the ________
 Ans: Dutt Committee

Question: 6. ‘Marginal Farmers’ are those who hold land upto___
 Ans: 1 hectare

Question:  7. The creation of core sector and a joint sector was recommended by ________
 Ans: Dutt Committee

Question:  8. The Industrial Policy announced on May 31, 1990 raised the investment limit for small scale sector from Rs. 35 lakh to Rs. ________
 Ans: 60 lakh

Question: 9. A joint sector means cooperation between _______
 Ans: Private sector and public sector enterprises

Question:  10. In India, the largest number of workers are employed in ________
 Ans: Iron and steel industry

Question: 11. Core industries were listed for the first time in the industrial licensing policy of ________
 Ans: 1970

Question: 12. In which year was IDBI delinked from RBI and made an autonomous corporation?
 Ans: 1976

Question: 13. The All India Khadi and Village Industries Board was set up during the ________
 Ans: First Plan

Question: 14. The Khadi and Village Industries Commission (KVIC) was set up during the ________
 Ans: Second Plan

Question: 15. CART was set up in 1982 to ________
 Ans: Improve technology of rural industries

Question: 16. Which Committee was set up to review the concept of poverty line?
 Ans: Lakdawala Committee

Question: 17. The major source of finance for small scale industries is ________
 Ans: Bank loans

Question: 18. The Monopolies and Restrictive Trade Practices Commission was set up in ________
 Ans: 1970

Question: 19. Prior to July 24, 1991, the MRTP Act applied to an undertaking owing assets worth more than _______
 Ans: Rs 100 crore

Question: 20. Genuine sickness refers to ________
 Ans: Factor beyond the control of project promoters despite the best and sincere efforts by them

Question: 21. Which Committee was constituted in April 1993 to study and make recommendations on the question of industrial sickness and corporate restructuring?
 Ans: Goswami Committee

Question: 22. When did the General Agreement on Tariffs and Trade, which sets out rulers for world trade, come into force?
 Ans: 1948

Question: 23. Which is the leading export item among Indian plantation crops?
 Ans: Tea

Question: 24. Financial distribution between the Union and the States takes place on the basis of the recommendations of ________
 Ans: The Finance Commission

Question: 25. When was Long-Term Fiscal Policy first announced in India?
 Ans: 19th December, 1985

Question: 26. First Export promotion zone in private sector was established at_____
 Ans: Surat

Question: 27. One of the main reason that led to rapid expansion of Indian exports is ________
 Ans: Liberalisation of the economy

Question: 28. Devaluation of a country’s currency will be more fruitful if ________
 Ans: Prices of exports do not rise

Question: 29. Devaluation of currency leads to ________
 Ans: Increase in domestic prices

Question: 30. A favourable balance of trade means ________
 Ans: An excess of exports of goods over imports of goods

Question: 31. Under a flexible exchange system, the exchange rate is determined by ________
 Ans: The forces of demand and supply in the foreign exchange market

Question: 32. What is cross border exchange?
 Ans: Foreign Exchange trade in India

Question: 33. Protectionism in international trade stands for ______
 Ans: Restricted trade policy

Question: 34. Before 1991, Indian rupee was last devalued in _____
 Ans: 1966

Question: 35. IBRD aims at ________
 Ans: Helping in reconstruction and development of Economy

Question: 36. When did the Reserve Bank of India become a state owned institution?
 Ans: 1948

Question: 37. The scheduled commercial banks in the public sector account for what percentage of commercial banking system in India?
 Ans: 80%

Question: 38. What was the aim of Antyodaya Programme?
 Ans: Helping the poorest people

Question: 39. Which press prints currency notes of the denomination of Rs. 100?
 Ans: The Bank Note Press, Dewas

Question: 40. Income Tax in India was introduced by
 Ans: James Wilson

Question: 41. The scheme HIRDAY is associated with
 Ans: Developing heritage cities

Question: 42. The Nathpa Jhaki Hydro-electric project has an installed capacity of ________
 Ans: 1500 MW

Question: 43. How many stock exchanges are there in India? 
 Ans: 22

Question: 44. When was the Securities and Exchange board of India constituted?
 Ans: 12 April, 1988

Question: 45. Which country is the largest producer of wheat?
 Ans: China

Question: 46. Council of Advancement of People's Action and Rural Technology (CAPART) was registered under the Societies Registration ACT, 1860 on ________
 Ans: 1st.  September 1986

Question: 47. Agriculature price commission and Indian Food Corporation were constituted in
 Ans: 1965

Question: 48. Which is the highest export-oriented handicrafts in Indian exports?
 Ans: Gen and ornaments

Question: 49. Which rural schemes were marged with Swarna Jayanti  Gram Swarojgar Yozana?
 Ans: NREP and RLEGP

Question: 50. Dauphin, Bell 206L4, and Robinson R44 are ______
 Ans: Helicopters