1) With reference to “ Aam Admi Bima Yojana’’, consider the following statements ?

1. The member insured under the scheme must be the head of the family or an earning member of the family in a rural landless house-hold.

2. The member insured must be in the age group of 30 to 65 years.

3.There is a provision for free scholarship for up to two children of the insured who are studying between classes 9 and 12.

Which of the statements given above is/are correct?

2) Both Foreign Direct Investment (FDI) and Foreign Institutional Investor (FII) are related to investment in a country . Which one of the following statements best represents an important difference between the two ?

3) A rapid increase in the rate of inflation is sometimes attributed to the “base effect”. What is “base effect”?

4) Consider the following actions which the government can take :

1. Devaluing the domestic currency .

2. Reduction in the export subsidy .

3. Adopting suitable policies which attract greater FDI and more funds from FIIs.

Which of the above action/actions can help in reducing the current account deficit ?

5) Which one of the following statements appropriately describes the “fiscal stimulus” ?

6) In terms of economy , the visit by foreign nationals to witness the XIX commonwealth games in India amounted to

7) India has experienced persistent and high food inflation in the recent past. What could be the reasons?

1. Due to a gradual switchover to the cultivation of commercial crops, the area under the cultivation of food grains has steadily decreased in the last five years by about 30%.

2. As a consequence of increasing incomes, the consumption patterns of the people have undergone a significant change.

3. The food supply chain has structural constraints.

Which of the statements given above are correct ?

8) In the union budget 2011-12, a full exemption from the basic customs duty was extended to the bio-based asphalt (bioasphalt). What is the importance of this material ?

1. Unlike traditional asphalt, bio-asphalt is not based on fossil fuels.

2. Bioasphalt can be made from non-renewable resources.

3. Bioasphalt can be made from organic waste materials.

4. It is eco-friendly to use bioasphalt for surfacing of the roads.

Which of the statements given above are correct?

9) Consider the following statements:

In India, taxes on transactions in Stock Exchanges and Futures Markets are

1. levied by the Union

2. collected by the States

Which of the statements given above is/are correct?

10) Which one of the following authorities makes recommendation to the Governor of a State as to the principles for determining the taxes and duties which may be appropriated by the Panchayats in that particular State?

11) In India, the tax proceeds of which one of the following as a percentage of gross tax revenue has significantly declined in the last five years?

12) With reference to the Nationa1 Investment Fund to which the disinvestment proceeds are routed, consider the following statements:

1. The assets in the National Investment Fund are managed by the Union Ministry of Finance.

2. The National Investment Fund is to be maintained within the Consolidated Fund of India.

3. Certain Asset Management companies are appointed as the fund managers.

4. A certain proportion of annual income is used for financing select social sectors.

Which of the statements given above is/are correct ?

13) In the context of India’s Five Year Plans, a shift in the pattern of industrialization, with lower emphasis on heavy industries and more on infrastructure begins in

14) Consider the following actions by the Government:

1. Cutting the tax rates

2. Increasing the government spending

3. Abolishing the subsidies in the context of economic recession

which of the above actions can be considered a part of the “fiscal stimulus” package?

15) Which one of the following is responsible for the preparation and presentation of Union Budget to the Parliament?

16) Who of the following shall cause every recommendation made by the finance Commission to be laid before each House of Parliament?

17) Inclusive growth as enunciated in the Eleventh Five Year Plan does not include one of the following:

18) In the context of governance, consider the following:

1. Encouraging Foreign Direct Investment inflows

2. Privatization of higher educational Institutions

3. Down-sizing of bureaucracy

4. Selling/offloading the shares of Public Sector Undertakings

Which of the above can be used as measures to control the fiscal deficit in India?

19) India-based Neutrino Observatory is included by the Planning Commission as a mega science project under the 11th Five-Year Plan. In this context, consider the following statements:

1. Neutrinos are chargeless elementary particles that travel close to the speed of light.

2. Neutrinos are created, in nuclear reactions of beta decay .

3. Neutrinos have a negligible, but non-zero mass 4. Trillions of Neutrinos pass through human body every second.

Which of the statements given above are correct?

20) A great deal of Foreign Direct Investment (FDI) to India comes from Mauritius than from many major and mature economies like UK and France. Why?

21) The SEZ Act, 2005 which came, into effect in February 2006 has certain objectives. In this context, consider the following:

1. Development of infrastructure facilities.

2. Promotion of investment from foreign sources.

3. Promotion of exports of services only .

Which of the above are the objectives of this Act?

22) In the context of independent India’s economy , which one of the following was the earliest event to take place?

23) Consider the following:

1. Fringe Benefit Tax

2. Interest Tax

3. Securities Transaction Tax

Which of the above is/are Direct Tax/Taxes?

24) Which one of the following brings out the publication called “Energy Statistics” from time to time?

25) Consider the following statements regarding Indian Planning:

1. The Second Five-Year Plan emphasized on the establishment of heavy industries.

2. The Third Five-Year Plan introduced the concept of import substitution as a strategy for industrialization.

Which of the statements given above is/are correct?