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Question 1 of 5
1. Question
1 pointsWhich of the following given below is/are part of revenue expenditure?
1. Interest payments on loans raised by government.
2. Subsidies forwarded to all sectors by the government.
3. Grants given by the government to Indian states and foreign countries.
Select the correct answer using the codes given belowCorrect
Revenue expenditure are kind of expenditures that are of consumptive kind and do not involve creation of productive assets. They are either used in running of a productive process or running a government.
A broad category of things that fall under such expenditures in India are:
• Interest payment by the government on the internal and external loans;
• Salaries, Pension and Provident Fund paid by the government to government employees;
• Subsidies forwarded to all sectors by the government;
• Defense expenditures by the government;
• Postal Deficits of the government;
• Law and order expenditures (i.e., police & paramilitary);
• Expenditures on social services (includes all social sector expenditures as education, health care, social security, poverty alleviation, etc.) and general services (tax collection, etc.);
• Grants given by the government to Indian states and foreign countries.Incorrect
Revenue expenditure are kind of expenditures that are of consumptive kind and do not involve creation of productive assets. They are either used in running of a productive process or running a government.
A broad category of things that fall under such expenditures in India are:
• Interest payment by the government on the internal and external loans;
• Salaries, Pension and Provident Fund paid by the government to government employees;
• Subsidies forwarded to all sectors by the government;
• Defense expenditures by the government;
• Postal Deficits of the government;
• Law and order expenditures (i.e., police & paramilitary);
• Expenditures on social services (includes all social sector expenditures as education, health care, social security, poverty alleviation, etc.) and general services (tax collection, etc.);
• Grants given by the government to Indian states and foreign countries. -
Question 2 of 5
2. Question
1 pointsThe term “J-curve effect” is related to which of the following given below?
Correct
The J-curve effect is often cited in economics to describe, for instance, the way that a country’s balance of trade initially worsens following a devaluation of its currency, then quickly recovers and finally surpasses its previous performance.
Incorrect
The J-curve effect is often cited in economics to describe, for instance, the way that a country’s balance of trade initially worsens following a devaluation of its currency, then quickly recovers and finally surpasses its previous performance.
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Question 3 of 5
3. Question
1 pointsTarapore committee is related to which of the following given below?
Correct
Current account is today fully convertible (operationalized on 19 August, 1994). It means that the full amount of the foreign exchange required by someone for current purposes will be made available to him at official exchange rate and there could be an un prohibited outflow of foreign exchange (earlier it was partially convertible).
India was obliged to do so as per Article VIII of the IMF which prohibits any exchange restrictions on current international transactions (keep in mind that India was under preconditions of the IMF since 1991).
After the recommendations of the S.S. Tarapore Committee (1997) on Capital Account Convertibility, India has been moving in the direction of allowing full convertibility in this account, but with required precautions.Incorrect
Current account is today fully convertible (operationalized on 19 August, 1994). It means that the full amount of the foreign exchange required by someone for current purposes will be made available to him at official exchange rate and there could be an un prohibited outflow of foreign exchange (earlier it was partially convertible).
India was obliged to do so as per Article VIII of the IMF which prohibits any exchange restrictions on current international transactions (keep in mind that India was under preconditions of the IMF since 1991).
After the recommendations of the S.S. Tarapore Committee (1997) on Capital Account Convertibility, India has been moving in the direction of allowing full convertibility in this account, but with required precautions. -
Question 4 of 5
4. Question
1 pointsEKTA portal seen in news is related to which of the following given below?
Correct
New Digital Apps have been developed for making Indian agriculture in line with Digital India theme. The DARE (Department of Agricultural Research & Education) launched the Agricultural Education Portal EKTA (Ekikrit Krishi Shiksha Takniki Ayaam) for integrated online management information system.
Incorrect
New Digital Apps have been developed for making Indian agriculture in line with Digital India theme. The DARE (Department of Agricultural Research & Education) launched the Agricultural Education Portal EKTA (Ekikrit Krishi Shiksha Takniki Ayaam) for integrated online management information system.
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Question 5 of 5
5. Question
1 pointsConsider the following statements about Annual Survey of Industries (ASI)
1. Annual Survey of Industries (ASI) is conducted by Central Statistics Office.
2. It covers both formal and informal industries.
Which of the statements given above is/are correct?Correct
Both the statements are incorrect.
Annual Survey of Industries (ASI) is conducted by National Sample Survey Office (NSSO). ASI is principal source of industrial statistics in India.
It does not cover unorganized or unregistered or informal sector enterprises.Incorrect
Both the statements are incorrect.
Annual Survey of Industries (ASI) is conducted by National Sample Survey Office (NSSO). ASI is principal source of industrial statistics in India.
It does not cover unorganized or unregistered or informal sector enterprises.
Leaderboard: 5th October 2021 | Prelims Daily with Previous Year Questions
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