Practice Quiz set 3 - indian economy mcq Online Quiz (set-1) For All Competitive Exams
Q-1) SEBI was set up in
(a)
(b)
(c)
(d)
The Securities and Exchange Board of India (SEBI) was established in the year 1988 and given statutory powers on 12 April 1992 through the SEBI Act, 1992. It is the regulator for the securities market in India.
Q-2) AGMARK is a guarantee of standard :
(a)
(b)
(c)
(d)
The present AGMARK standards cover quality guidelines for 205 different agricultural commodities spanning a variety of Pulses, Cereals, Essential Oils, Vegetable Oils, Fruits & Vegetables, and semiprocessed products.
Q-3) The Minimum Wages Act was first passed in India in the year:
(a)
(b)
(c)
(d)
The Minimum Wages Act, 1948 was enacted to safeguard the interests of workers, mostly in the unorganized sector by providing for the fixation of minimum wages in certain specified employments. It binds the employers to pay their workers the minimum wages fixed under the Act from time to time.
Q-4) With the inclusion of Shipping Corporation of India recently in the list of Nav Ratna PSEs, their number now stands at
(a)
(b)
(c)
(d)
Navratna was the title given originally to nine Public Sector Enterprises (PSEs) identified by the Government of India in 1997 as “public sector companies that have comparative advantages”, giving them greater autonomy to compete in the global market so as to “support [them] in their drive to become global giants”.
The number of PSEs having Navratna status has been raised to 16, the most recent addition being Oil India Limited.
Q-5) Scheduled Banks have to be registered with
(a)
(b)
(c)
(d)
The scheduled primary (urban) cooperative banks are required to maintain with the Reserve Bank of India an average daily balance, the amount of which should not be less than 5 per cent of their net demand and time liabilities in India in terms of Section 42 of the Reserve Bank of India Act, 1934.
Non-scheduled (urban) cooperative banks, under the provision of Section 18 of Banking Regulation Act, 1949 (As Applicable to Cooperative Societies) should maintain a sum equivalent to at least 3 per cent of their total demand and time liabilities in India on a day-to-day basis.
Q-6) Insurance sector in India is regulated by
(a)
(b)
(c)
(d)
The Insurance Regulatory and Development Authority (IRDA) is an autonomous apex statutory body that regulates and develops the insurance industry in India. It was constituted by a Parliament of India act called Insurance Regulatory and Development Authority Act, 1999.
The IRDA Act, 1999 was passed as per the major recommendation of the Malhotra Committee report (1994) which recommended the establishment of an independent regulatory authority for the insurance sector in India. Later, It was incorporated as a statutory body in April 2000.
Q-7) Consider the following statements:- The Fifth Economic Census was conducted by CSO in the year 2007.
- Intelligent Character Recognition (ICR) technology is being used for detailed processing of the data collected in the Fifth Economic Census.
Which of the statements given above is/are correct?
(a)
(b)
(c)
(d)
Q-8) Consider the following statements and select the correct code : - Most of the governments run unbalanced budgets.
- In a balanced budget there could be budget surplus but no budget deficit.
Code :
(a)
(b)
(c)
(d)
When the total expenditures of a government is equal to the taxes and other receipts it is a balanced budget. All budgets with either deficits or surpluses are unbalanced.
Q-9) Which among the following is the full form of CAGR. - Compound Annual Growth Rate
- Country Annual Growth Rate
- Country Annual Growth Region
- Compound Annual Growth Region
Choose the correct answer using the codes given below:
(a)
(b)
(c)
(d)
Q-10) Which from the following is not a Navaratna PSU ?
(a)
(b)
(c)
(d)
(e)
Navaratna was the title given originally to nine Public Sector Enterprises (PSEs), identified by the Government of India in 1997 as having comparative advantages, which allowed them greater autonomy to compete in the global market. The number of PSEs having Navaratna status has been raised to 16.
In 2009, the government established the Maharatna status, which raises a company's investment ceiling from Rs. 1,000 crore to Rs. 5,000 crore.
SAIL, NTPC are now Maharatna; while Bharat Heavy Electricals Limited and Shipping Corporation of India Limited are navaratna companies.