UPSC  Economics

11. Consider the following statements
1. The Reserve Bank of India and the European Central Bank have signed a memorandum of understanding for cooperation in the area of central banking.
2. The Reserve Bank of India signed a Memorandum of Understanding (MoU) on "Supervisory Cooperation and Exchange of Supervisory Information" with Banco Central do Brasil (BCB) .
Which of the above statements are true?

Only 1 Only 2 Both Neither

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12. Consider the following statements related to GST bill
1. The Centre will have one third weight in the GST Council while the states will have the remaining two-thirds and decisions will have to be passed with 75% vote.
2. Petroleum and Alcohol is excluded from GST
Which of the above statements is/are correct?

Only 1 Only 2 Both None

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13. Consider the following statements related to SEZ
1. It is a duty free enclave to be treated as foreign territory for the purpose of trade operations and duties and tariffs.
2. The corporation in SEZs will not have to pay any income tax on their profits for the first five years and only 50% of the tax for 2 more years thereafter.
3. A SEZ does not require a license for exports.
Which of the above statements are true?

1,2 2,3 1,3 All the above

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14. What is MAT?

Minimum Alternate Tax Maximum Alternate Tax Multiple Alternate Tax None of the above

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15. Consider the following statements
1.The Index of Eight Core Industries (ICI) measures performance of eight infrastructure industries, viz Coal, Crude Oil, Natural Gas, Refinery Products, Fertilizers, Steel, Cement and Electricity
2. It has the base year of 2004-05.
3. The Eight Core Industries comprise nearly 38 % of the weight of items included in the Index of Industrial Production (IIP).
Which of the above statements are correct?

1,2 1,3 2,3 All

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16. Consider the following statements
1. The Financial Sector Legislative Reforms Commission (FSLRC) is a body set up by Ministry of Finance in 2011, to review and rewrite the legal-institutional architecture of the Indian financial sector.
2. This Commission is chaired by a former Judge of the Supreme Court of India, Justice B. N. Srikrishna
Which of the above statements are correct?

Only 1 Only 2 Both None

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17. Which of the following is not advantage of full capital account convertibility ?

Encourages import Boosts exports Easy access to forex Promotes trade and capital flows between nations

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18. Financial Sector Legislative Reforms Commission has various working groups dedicated to in depth analysis of different sectors. Match the pairs of different working groups and their chairman.
i. Banking -------------------------------- 1. P.J Nayak
ii. Insurance,Pension, Small saving ------- 2. Dr. Govind Rao
iii. Public debt management --------------- 3. Jayant Verma
iv. Payment-------------------------------- 4. Dhirendra Swarup
v. Securities ----------------------------- 5. K.J.Udshi

i-4 ,ii-3, iii-1, iv-2, v-3 i-3, ii-4, iii-2, iv-5, v-1 i-5, ii-4, iii-2, iv-1, v-3 i-5, ii-3, iii-2, iv-4, v-1

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19. Which of the following is part of priority sector lending?
1. Education
2. renewable energy
3. Personal loans
4. social infrastructure
5. Medium enterprises
6. Export Credit
7. Housing
8. Credit cards

1,2,5,7,8 1,2,3,7,8 1,3,4,5,6,7 1,2,3,5,7,8

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20. Consider the following statements about priority sector lending
1.All banks have to lend at least 40% of their net credit to the priority sector
2.Foreign banks with less than 20 branches will move to total priority sector target of 40 percent by 2019-20.
Which of the above statements are correct?

Only 1 Only 2 Both None

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