National Food Security Act came into effect in the year:

• 2012
• 2013
• 2014
• None of the above
Solution
Correct Option: B  [ 2013 ]

Explanation:

Tertiary sector activities include

• Cottage industries
• Mining activities
• Construction activities
• Infrastructure services
Solution
Correct Option: D  [ Infrastructure services ]

Explanation:

Plan finance creates increase of money supply if there is

• increase in taxes
• increase in loan from the Reserve Bank of India
• increase in loan from commercial Banks
• increase in loan from general public
Solution
Correct Option: A  [ increase in taxes ]

Explanation:

Major part of the Indian agriculture is characterized by

• Large size farm
• Capitalist agriculture
• Small size farm
• Co-operative farm
Solution
Correct Option: C  [ Small size farm ]

Explanation:

Which institution in India controls the monetary policy of Indian currency?

• Finance Commission
• The Finance Ministry of India
• The Reserve Bank of India
• None of the above
Solution
Correct Option: C  [ The Reserve Bank of India ]

Explanation:

Which of the following pairs is/are incorrectly matched?

i. Finance Commission	: Constitutional of India
ii. Securities and Exchange Board of India	: Statutory Body
iii. NITI Aayog	: Constitutional Body
iv. Reserve Bank of India	: Statutory Body

Select the correct answer using the codes given below.

• (i) and (iii) only
• (ii) and (iv) only
• (iii) only
• (iv) only
Solution
Correct Option: C  [ (iii) only ]

Explanation:

Which one of the following is an indirect tax levied by the Central Government in India ?

• Service tax
• Corporate Income tax
• Profession tax
• Agricultural Income tax
Solution
Correct Option: A  [ Service tax ]

Explanation:

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
Solution
Correct Option: C  [ Increase Cash Reserve Ratio (CRR) ]

Explanation:

Fiscal Deficit is:

• Government expenditure minus borrowings
• Government expenditure minus revenue receipts
• Same as budget deficit
• Budget deficit minus borrowings and other liabilities
Solution
Correct Option: B  [ Government expenditure minus revenue receipts ]

Explanation:

Which organisation looks after the credit need of agriculture and rural development in India ?

• FCI
• IDBI
• NABARD
• ICAR
Solution
Correct Option: C  [ NABARD ]

Explanation: