introduction to indian economy section 14 Practice Questions Answers Test with Solutions & More Shortcuts
Introduction to Indian Economy PRACTICE TEST [14 - EXERCISES]
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introduction to indian economy section 14
Question : 16 [SSC IT 2008]
FERA in India has been replaced by
a) FEMA
b) FEPA
c) FENA
d) FETA
Answer »Answer: (a)
The Foreign Exchange Regulation Act (FERA) was legislation passed by the Indian Parliament in 1973 with the aim of regulating payments and foreign exchange.
FERA was repealed in 1999 by the government of Atal Bihari Vajpayee and replaced by the Foreign Exchange Management Act, which liberalised foreign exchange controls and restrictions on foreign investment.
FEMA, which replaced Foreign Exchange Regulation Act (FERA), had become the need of the hour since FERA had become incompatible with the pro-liberalisation policies of the Government of India.
FEMA has brought a new management regime of Foreign Exchange consistent with the emerging framework of the World Trade Organisation (WTO).
Question : 17 [SSC CGL Pre 2008]
Which of the following Indian banks became the first to touch a market capitalisation of Rs.1,00,000 crore in India ?
a) HDFC
b) ICICI
c) SBI
d) PNB
Answer »Answer: (c)
The State Bank of India, in September 2007, became the first public sector bank to touch a market capitalisation of Rs 1,00,000 crore following a surge of over three per cent in its share price.
The bank’s shares closed at Rs 1950.70 per share on the BSE, giving it a market cap of about Rs 1,02,665.12 crore. Earlier in the day, the shares rose to a lifetime high of Rs 1,969.80 crore before ending with a gain of 3.43 per cent over the previous close.
SBI is the only second bank in India to have attained a market capitalisation of more than Rs 1,00,000 crore.
Besides, SBI, ICICI Bank has also achieved this milestone and its market cap.
Question : 18
Human Development Index comprises literacy rates, life expectancy at birth and
a) GNP in US dollars
b) GDP per head in the US dollars.
c) GDP per head at real purchasing power.
d) National Income per head in US dollars.
Answer »Answer: (d)
Human Development Report the HDI combines three dimensions:
- A long and healthy life: Life expectancy at birth,
- Education Index: Mean years of schooling and
- Expected years of schooling and A decent standard of living: GNI per capita (PPP US$).
Question : 19
Which of the following occupations are included under secondary sector as per the national income accounts ?
- Manufacturing
- Construction
- Gas and water supply
- Mining and quarrying
a) 1, 2 and 3
b) 1, 2 and 4
c) 1, 2, 3 and 4
d) 3 and 4
Answer »Answer: (a)
Primary sector-Agriculture, fishing, mining and quarrying Secondary sector- Manufacturing and construction, Gas and water supply Tertiary sector- trade, transport etc, finance & real estate, community and personnel services
Question : 20 [SSC CPO 2003]
A Scheduled Bank is one which is included in the
a) II Schedule of Constit-ution
b) II Schedule of Banking Regulation Act
c) II Schedule of Reserve Bank of India Act
d) None of the above
Answer »Answer: (c)
Commercial banks are classified into two:
- Scheduled banks and
- other banks.
A scheduled bank is one that is included in the second schedule of the Reserve Bank of India Act, 1934. A scheduled bank should comply with the following terms:
- It must have paid-up capital and reserves as specified; and
- The activities to be carried out should not be detrimental to the interests of the depositors; and
- It should be incorporated under the Companies Act, 1956, that is, it should not be the sole trader for a partnership firm or business organization.
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Introduction to Indian Economy Shortcuts »
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indian economy MCQ CATEGORIES
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» Introduction to Indian Economy
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» Planning, Economic Development & Five year Plans
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» National Income & Human Development Index
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» Agriculture Sector, Subsidy and Food Processing
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» Industries, Manufacturing & Service Sectors
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» Inclusive growth, Sustainable development and employment
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» Poverty & Unemployment
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» Introduction to Micro Economics
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» Introduction to Macro Economics
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» Macro fundamentals, GDP, Investment, Growth
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» Demand & Supply, Profit Loss, Inflation & Price Index
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» Fiscal Policy, Public Finance and Monetary Policy
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» Money Supply, Banking and Financial Institutions
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» Taxes Types, Methods & Budgeting Process
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» Banking, Security Market & Insurance
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