Who was the father of Operation Flood in India ?

• Dr. Varghese Kurien
• M. S. Swaminathan
• A P J Abdul Kalam
• Morarji Desai
Correct Option: A  [ Dr. Varghese Kurien ]

Remark: Operation Flood related to Milk Production.

ICDS was first introduced in India in the year

• 1975
• 1977
• 1979
• None of these
Correct Option: A  [ 1975 ]

Remark:

In order to control inflationary price rise, Reserve Bank directs Banks to

• Reduce rate of interest on credit
• Reduce Statutory Liquidity Ratio (SLR)
• Increase Cash Reserve Ratio (CRR)
• Buy bonds from capital market
Correct Option: C  [ Increase Cash Reserve Ratio (CRR) ]

Remark:

In India, which sector generally suffers from the problem of surplus labour ?

• Agriculture
• Industry
• Service
• All of these
Correct Option: A  [ Agriculture ]

Remark:

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

• Reduction of Poverty
• Extension of employment opportunities
• Strengthening of capital market
• Reduction in gender inequality
Correct Option: C  [ Strengthening of capital market ]

Remark:

The qualification for the Chairman and the members of the Finance Commission are specified in:

• Finance Act of 1951
• Finance Act of 1952
• Finance Act of 1950
• Finance Act of 1953
Correct Option: A  [ Finance Act of 1951 ]

Remark:

The period of high inflation and low economic growth is termed as:

• Stagnation
• Take-off stage in economy
• Stagflation
• Depression
Correct Option: C  [ Stagflation ]

Remark:

In Income Tax, Assessee is :

• a person who pays income tax
• a person who deducts income tax from its employees
• a person who prepares income tax Return of tax payers
• None of these
Correct Option: A  [ a person who pays income tax ]

Remark:

Which of the following is true in respect of Centre-State financial relations ?

• Amount given by Centre is the only source of income to States
• States can by-pass Centre while taking foreign loans
• States can not levy income tax
• States can claim 100 % share in excise duty on goods produced in the State
Correct Option: C  [ States can not levy income tax ]

Remark:

If the RBI adopts expansionist open market operations policy, this means that it will:

• openly announce to the market that it intends to expand credit
• sell securities in open market
• offer commercial banks more credit in the open market
• buy securities from non-government holders
Correct Option: B  [ sell securities in open market ]

Remark: