1. Economic Survey is an annual commentary on the state of the economy of India which is put together by ______.
(a) Reserve Bank of India
(b) Planning Commission
(c) Finance Ministry (Ans)
(d) India Statistical Institute
(e) None of these
2. The Economic Survey, tabled in Parliament by Finance Minister Pranab Mukherjee on Feb 25, 2011 has pegged the economic growth at ____ for fiscal year 2012.
(a) 8.25 – 8.75 per cent
(b) 8.50 – 9.0 per cent
(c) 8.75 – 9.25 per cent (Ans)
(d) 9.0 – 9.50 per cent
(e) None of these
3. Which of the following statements is/are correct ?
1. The Economic Survey 2011 has favored a phased opening of foreign direct investments in multi-brand retail saying it could help address concerns of consumers and farmers, besides bringing technical know-how.
2. At present India allows 100 per cent FDI in cash and carry wholesale trading, while it is prohibited in multi-brand retail.
(a) Only 1
(b) Only 2
(c) Both 1 and 2 (Ans)
(d) Neither 1 nor 2
(e) Either 1 or 2
4. The Economic Survey 2011 has been prepared under the mentorship of Finance Ministry’s chief economic advisor, who is
(a) C Rangarajan
(b) Montek Singh Ahluwalia
(c) R Venkateshwar
(d) Kaushik Basu (Ans)
(e) None of these
5. According to Economic Survey 2011, agriculture is likely to grow at _____ in 2010/11.
(a) 5.1 per cent
(b) 5.2 per cent
(c) 5.3 per cent
(d) 5.4 per cent (Ans)
(e) None of these
6. According to Economic Survey 2011, what is the growth in industrial output ?
(a) 5.6 per cent
(b) 6.6 per cent
(c) 7.6 per cent
(d) 8.6 per cent (Ans)
(e) None of these
7. According to Economic Survey 2011, what is the growth in manufacturing sector ?
(a) 6.1 per cent
(b) 7.1 per cent
(c) 8.1 per cent
(d) 9.1 per cent (Ans)
(e) None of these
8. According to Economic Survey 2011, how much did the trade gap narrow in April-December 2010 ?
(a) $ 81.01 billion
(b) $ 82.01 billion (Ans)
(c) $ 83.01 billion
(d) $ 84.01 billion
(e) None of these
9. Which of the following statements with reference to Economic Survey 2011 is/are correct ?
1. Net bank credit has grown by 59 per cent.
2. Savings rate has gone up to 33.7 per cent.
(a) Only 1
(b) Only 2
(c) Both 1 and 2 (Ans)
(d) Neither 1 nor 2
(e) Either 1 or 2
10. The government aims at raising Rs 40,000 crore by selling its stake in public sector undertakings in 2011-12, despite missing the current year’s target. As against a target of Rs. 40,000 crore, the government has raised about ____ from disinvestment in 2010-11.
(a) Rs 22, 144 crore (Ans)
(b) Rs 23, 144 crore
(c) Rs 24, 144 crore
(d) Rs 25, 144 crore
(e) None of these
11. In 2010-11, government sold its stake in different state-run companies including Coal India, Power Grid Corporation of India, Satluj Jal Vidyut Nigam, Engineers India Ltd, Shipping Corporation of India and Manganese Ore India Ltd. The government aims at retaining what percent of ownership and management control in the central public sector undertakings ?
(a) 26 per cent
(b) 51 per cent (Ans)
(c) 63 per cent
(d) 74 per cent
(e) None of these
12. According to Union Budget 2011-12, exemption limit for the general category of individual taxpayers has been enhanced by
(a) Rs 20,000 (Ans)
(b) Rs 30,000
(c) Rs 40,000
(d) Rs 50,000
(e) None of these
13. According to Union Budget 2011-12, qualifying age for Senior Citizens has been reduced from 65 years to ___ and exemption limit for Senior Citizens has been enhanced from Rs 2,40,000 to ___.
(a) 60 years, Rs.2,50,000 (Ans)
(b) 61 years, Rs.2,60,000
(c) 62 years, Rs.2,70,000
(d) 63 years, Rs.2,80,000
(e) None of these
14. A new category of Very Senior Citizens, ______ and above, has been created who will be eligible for a higher exemption limit of ____.
(a) 75 years, Rs.4,00,000
(b) 70 years, Rs.5,00,000
(c) 80 years, Rs.5,00,000 (Ans)
(d) 85 years, Rs.4,00,000
(e) None of these
15. The Finance Minister has proposed to increase the exemption limit for general category individual tax payers by Rs.20,000 to Rs.1,80,000 per year. This will provide a uniform tax relief of ____ to every tax payer of this category.
(a) Rs 1000
(b) Rs 2000 (Ans)
(c) Rs 3000
(d) Rs 4000
(e) None of these
16. Union Budget 2011-12 has allocated Rs 2,14,000 crore for infrastructure in 2011-12. This is an increase of ____ over 2010-11.
(a) 20.3 per cent
(b) 21.3 per cent
(c) 22.3 per cent
(d) 23.3 per cent (Ans)
(e) None of these
17. According to Union Budget 2011-12, exports have grown by ____, while imports have recorded a growth of ____ during April to January 2010-11 over the corresponding period last year.
(a) 29.4 per cent, 17.6 per cent (Ans)
(b) 30.4 per cent, 16.6 per cent
(c) 31.4 per cent, 15.6 per cent
(d) 32.4 per cent, 14.6 per cent
(e) None of the above
18. The Economic Survey presents a rosy picture about the per capita income by representing India’s per capita net national income (factor cost at current prices) at _____ for 2010-11.
(a) Rs 54,527 (Ans)
(b) Rs 55,527
(c) Rs 56,527
(d) Rs 57,527
(e) None of these
19. According to the Economic Survey 2010-11, what was the total Gross Domestic Saving in 2009-10 ?
(a) Rs. 21,07,423 crore
(b) Rs. 22,07,423 crore (Ans)
(c) Rs. 23,07,423 crore
(d) Rs. 24,07,423 crore
(e) None of these
20. According to the projection of GDP in the Economic Survey 2010-11, the economy’s growth rate has been pegged at ____ in 2010-11.
(a) 7.6%
(b) 8.6% (Ans)
(c) 9.6%
(d) 10.6%
(e) None of these
21. According to the projection of GDP in the Economic Survey 2010-11, the economy’s growth rate has been pegged at _____ in 2011-12.
(a) 7%
(b) 8%
(c) 9% (Ans)
(d) 10%
(e) None of these
22. According to the projection of GDP in the Economic Survey 2010-11, India’s GDP at Factor Cost (real GDP) been pegged at ___ in 2010-11.
(a) Rs. 4579232 crore
(b) Rs. 4679232 crore
(c) Rs. 4779232 crore
(d) Rs. 4879232 crore (Ans)
(e) None of these
23. What is the allocation for social sector in the total plan allocation ?
(a) 33.4%
(b) 34.4%
(c) 35.4%
(d) 36.4% (Ans)
(e) None of these
24. The Union Budget 2011-12 estimates fiscal deficit at Rs.4,12,817 crore. What is the fiscal deficit with reference to percentage of GDP ?
(a) 2.6 per cent
(b) 3.6 per cent
(c) 4.6 per cent (Ans)
(d) 5.6 per cent
(e) None of these
25. The Union Budget 2011-12 estimates gross tax receipts to grow by ______ to Rs. 9,32,440.
(a) 24.9 per cent (Ans)
(b) 25.9 per cent
(c) 26.9 per cent
(d) 27.9 per cent
(e) None of these
26. According to the Union Budget 2011-12, what amount will be transferred to the States and UTs as plan and non plan transfers ?
(a) Rs. 1,01,733 crore
(b) Rs. 2,01,733 crore (Ans)
(c) Rs. 3,01,733 crore
(d) Rs. 4,01,733 crore
(e) None of these
27. In the Union Budget 2011-12, Finance Minister has proposed to create a micro finance equity fund with Small Industrial Development Bank of India (SIDBI) for providing equity to smaller micro finance institutions. What is the value of this proposed fund ?
(a) Rs 50 crore
(b) Rs 100 crore (Ans)
(c) Rs 150 crore
(d) Rs 200 crore
(e) None of these
28. In the Union Budget 2011-12, the minimum alternate tax (MAT) rate has been hiked from 18 per cent to ___ of book profits.
(a) 18.5 per cent (Ans)
(b) 19 per cent
(c) 19.5 per cent
(d) 20 per cent
(e) None of these
29. A few new services have been brought under service tax net.
Consider the following services :
1. Hotel accommodation in excess of Rs. 1000 per day.
2. Service provided by air conditioned restaurants with licence to serve liquor
Which of these services have been brought under the tax net ?
(a) Only 1
(b) Only 2
(c) Both 1 and 2 (Ans)
(d) Neither 1 nor 2
(e) Either 1 or 2
30. The RESIDEX was launched by he National Housing Bank (NHB) to provide an index of residential prices in India across cities and over time. In which year was RESIDEX launched ?
(a) 2006
(b) 2007 (Ans)
(c) 2008
(d) 2009
(e) None of these
31. According to Economic Survey 2010-11, housing sector contributes what per cent of national employment ?
(a) 9 per cent (Ans)
(b) 10 per cent
(c) 11 per cent
(d) 12 per cent
(e) None of these
32. With a view to reduce wastage of farm produce, how many more mega food parks has the Finance Minister Pranab Mukherjee announced in the Budget ?
(a) 15 (Ans)
(b) 16
(c) 17
(d) 18
(e) None of these
33. According to Union Budget 2011-12, credit flow to farmers has been raised from Rs. 3,75,000 crore to :
(a) Rs 4,00,000 crore
(b) Rs 4,25,000 crore
(c) Rs 4,50,000 crore
(d) Rs 4,75,000 crore (Ans)
(e) None of these
34. During the first three years of the current Five Year Plan, the agriculture sector (including allied activities) recorded an average growth of ____ against the Plan target of __ per annum.
(a) 3.03 per cent, 4 per cent
(b) 2.03 per cent, 5 per cent
(c) 4.03 per cent, 6 per cent
(d) 2.03 per cent, 4 per cent (Ans)
(e) None of these
35. The Economic Survey 2010-11 says that the overall GDP has grown by an average of 8.62 per cent during 2004-05 to 2010-11, agricultural sector GDP has increased by only 3.46 per cent during the same period. Agriculture sector accounts for what per cent of employment in the country (as per 2001 census) ?
(a) 56 per cent
(b) 58 per cent (Ans)
(c) 60 per cent
(d) 62 per cent
(e) None of these
36. According to Union Budget 2011-12, Direct Taxes Code (DTC) would be finalized for enactment during 2011-12. The proposed DTC is to be effective from _____.
(a) April 30, 2012
(b) May 1, 2012
(c) June 1, 2012
(d) April 1, 2012 (Ans)
(e) None of these
37. In the Union Budget 2011-12, Defence expenditure for 2011-12 has been pegged at Rs 1,64,415 crore, an increase of ___ over the last financial year 2010-11.
(a) Rs 16,071 crore
(b) Rs 17,071 crore (Ans)
(c) Rs 18,071 crore
(d) Rs 19,071 crore
(e) None of these
38. In the Union Budget 2011-12, how much amount has been earmarked for cleaning of rivers ?
(a) Rs 50 crore
(b) Rs 100 crore
(c) Rs 150 crore
(d) Rs 200 crore (Ans)
(e) None of these
39. In the Union Budget 2011-12, allocation under Rashtirya Krishi Vikas Yojna (RKVY) has been increased to
(a) Rs 5860 crore
(b) Rs 6860 crore
(c) Rs 7860 crore (Ans)
(d) Rs 8860 crore
(e) None of these
40. In the Union Budget 2011-12, what amount is to be provided in 2011-12 for maintaining minimum Tier l capital to Risk Weighted Asset Ratio (CRAR) of 8% in public sector banks ?
(a) Rs 5000 crore
(b) Rs 6000 crore (Ans)
(c) Rs 7000 crore
(d) Rs 8000 crore
(e) None of these
41. In the Union Budget 2011-12, what amount is to be provided in 2011-12 for maintaining CRAR in regional rural banks ?
(a) Rs 500 crore (Ans)
(b) Rs 600 crore
(c) Rs 700 crore
(d) Rs 800 crore
(e) None of these
42. According to the Union Budget 2011-12, there is an increase in remuneration for Anganwadi workers from _____ to _____ per month.
(a) Rs 1,500, Rs 2,000
(b) Rs 1,500, Rs 3,000 (Ans)
(c) Rs 1,000, Rs 2,000
(d) Rs 1,500, Rs 2,500
(e) None of these
43. According to the Union Budget 2011-12, what is the amount that has been proposed to be allocated for Green India Mission from National Clean Energy Fund ?
(a) Rs 50 crore
(b) Rs 100 crore
(c) Rs 150 crore
(d) Rs 200 crore (Ans)
(e) None of these
44. The Union Budget 2011-12 has proposed to distribute ten lakh Aadhaar numbers per day from
(a) Aug 1, 2011
(b) Sept 1, 2011
(c) Oct 1, 2011 (Ans)
(d) Nov 1, 2011
(e) None of these
45. According to the Union Budget 2011-12, an international award has been instituted for promoting values of universal brotherhood as part of National celebrations of 150th birth anniversary of Gurudev Rabindranath Tagore. What is the prize money of this award ?
(a) Rs 25 lakh
(b) Rs 50 lakh
(c) Rs 75 lakh
(d) Rs 1 crore (Ans)
(e) None of these
46. According to the Union Budget 2011-12, eligibility for pension under Indira Gandhi National Old Age Pension Scheme for BPL beneficiaries has been reduced from 64 years of age to ____ years.
(a) 55
(b) 58
(c) 60 (Ans)
(d) 62
(e) None of these
47. The Government’s special support to Jammu & Kashmir is anchored in Rs 28,000 crore Prime Minister’s Reconstruction Plan. In the Union Budget 2011-12, _____ would be given as Special Developmental Assistance to the troubled Jammu and Kashmir in the current fiscal.
(a) Rs 8,000 crore (Ans)
(b) Rs 9,000 crore
(c) Rs 10,000 crore
(d) Rs 12,000 crore
(e) None of these
48. To give a boost to the development of backward regions, the Union Budget 2011-12 has increased allocation under the Backward Regions Grant Fund from Rs 7,300 crore to _____ .
(a) Rs 6,890 crore
(b) Rs 7,890 crore
(c) Rs 8,890 crore
(d) Rs 9,890 crore (Ans)
(e) None of these
49. Which of the following statements is/are correct with reference to the announcements in Budget 2011-12 ?
1. National Mission for Hybrid and Electric Vehicles will be launched.
2. 7 Mega clusters for leather products to be set up.
(a) Only 1
(b) Only 2
(c) Both 1 and 2 (Ans)
(d) Neither 1 nor 2
(e) Either 1 or 2
50. With reference to the trends in India’s Fertilizers Production, which of the following statements is/are correct ?
1. India meets 85 per cent its urea requirement through indigenous production but depends heavily on imports for its phosphatic and potash fertilizer requirements.
2. Farmers pay only 25 to 40 per cent of the actual cost and the rest of the cost is borne by the Government in the form of a subsidy, which is reimbursed to the manufactures/importers.
(a) Only 1
(b) Only 2
(c) Both 1 and 2 (Ans)
(d) Neither 1 nor 2
(e) Either 1 or 2