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Question 1 of 5
1. Question
1 pointsThe Article 112 of the Constitution of India deals with which of the following?
Correct
The Union Budget of India, also referred to as the Annual Financial Statement in the Article 112 of the Constitution of India, is the annual budget of the Republic of India.
Incorrect
The Union Budget of India, also referred to as the Annual Financial Statement in the Article 112 of the Constitution of India, is the annual budget of the Republic of India.
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Question 2 of 5
2. Question
1 pointsConsider the following statements with reference to the Central Board of Indirect taxes and Customs (CBIC)
1. It is the nodal national agency responsible for administering Customs, GST, Central Excise, Service Tax & Narcotics in India.
2. CBIC comes under the Department of Economic Affairs, Ministry of Finance.
Which of the statements given above is/are correct?Correct
Statement 1 is correct while statement 2 is incorrect.
The Central Board of Excise and Custom renamed as Central Board of Indirect taxes and Customs (CBIC) is the nodal national agency responsible for administering Customs, GST, Central Excise, Service Tax & Narcotics in India.
CBIC comes under the Department of Revenue, Ministry of Finance.Incorrect
Statement 1 is correct while statement 2 is incorrect.
The Central Board of Excise and Custom renamed as Central Board of Indirect taxes and Customs (CBIC) is the nodal national agency responsible for administering Customs, GST, Central Excise, Service Tax & Narcotics in India.
CBIC comes under the Department of Revenue, Ministry of Finance. -
Question 3 of 5
3. Question
1 pointsConsider the following statements with reference to Marginal Standing Facility (MSF)
1. It is always fixed above the repo rate.
2. It was introduced by the RBI with the main aim of reducing volatility in the overnight lending rates in the inter-bank market.
Which of the statements given above is/are correct?Correct
Both the statements are correct.
Marginal Standing Facility (MSF) refers to the penal rate at which banks can borrow money from the central bank over and above what is available to them through the LAF window.
MSF, being a penal rate, is always fixed above the repo rate.
The scheme was introduced by RBI with the main aim of reducing volatility in the overnight lending rates in the inter-bank market and to enable smooth monetary transmission in the financial system.Incorrect
Both the statements are correct.
Marginal Standing Facility (MSF) refers to the penal rate at which banks can borrow money from the central bank over and above what is available to them through the LAF window.
MSF, being a penal rate, is always fixed above the repo rate.
The scheme was introduced by RBI with the main aim of reducing volatility in the overnight lending rates in the inter-bank market and to enable smooth monetary transmission in the financial system. -
Question 4 of 5
4. Question
1 pointsIf the interest rate is decreased in an economy, the investment expenditure in the economy will
Correct
Investment expenditure refers to the expenditure incurred either by an individual or a firm or the government for the creation of new capital assets like machinery, building etc. The relationship between interest rate and investment expenditure is illustrated by the investment curve of the economy. The curve has downward slope, indicating that a drop in interest rate, causes the investment-spending to rise.
Incorrect
Investment expenditure refers to the expenditure incurred either by an individual or a firm or the government for the creation of new capital assets like machinery, building etc. The relationship between interest rate and investment expenditure is illustrated by the investment curve of the economy. The curve has downward slope, indicating that a drop in interest rate, causes the investment-spending to rise.
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Question 5 of 5
5. Question
1 pointsConsider the following statements regarding 6th Schedule
1. It deals with the administration of the tribal areas in the states of Assam, Manipur, Tripura and Mizoram.
2. The governor is empowered to organise and re-organise the autonomous districts.
Which of the statements given above is/are correct?Correct
Both the statements are correct.
6th schedule deals with the administration of the tribal areas in the four northeastern states of Assam, Meghalaya, Tripura and Mizoram.
The governor is empowered to organise and re-organise the autonomous districts. The governor can appoint a commission to examine and report on any matter relating to the administration of the autonomous districts or regions. He may dissolve a district or regional council on the recommendation of the commission.Incorrect
Both the statements are correct.
6th schedule deals with the administration of the tribal areas in the four northeastern states of Assam, Meghalaya, Tripura and Mizoram.
The governor is empowered to organise and re-organise the autonomous districts. The governor can appoint a commission to examine and report on any matter relating to the administration of the autonomous districts or regions. He may dissolve a district or regional council on the recommendation of the commission.
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Oh man! Wrong answers for 2 questions in the system. Q4 and 5.
Q4 answer is (a)
The relationship between interest rate and investment expenditure is illustrated by the investment curve of the economy. The curve has downward slope, indicating that a drop in interest rate, causes the investment-spending to rise.
Q5 answer is (b)
6th schedule deals with the administration of the tribal areas in the four northeastern states of Assam, Meghalaya, Tripura and Mizoram. and not Assam, Manipura, Tripura and Mizoram.
krishan sai is specificaly right about question number 4 and 5.