Match the following :

	List-I		List-II
a.	Monetary Policy Committee	1.	Union Home Minister
b.	GST Council	2.	Union Finance Minister
c.	NITI Aayog	3.	RBI Governor
d.	Cabinet Committee on Parliamentary Affairs	4.	Prime Minister of India

Select the correct answer using the codes given below.

• a-2, b-3, c-4, d-1
• a-3, b-2, c-4, d-1
• a-3, b-2, c-1, d-4
• a-2, b-3, c-1, d-4
Solution
Correct Option: B  [ a-3, b-2, c-4, d-1 ]

Explanation:

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
Solution
Correct Option: C  [ Strengthening of capital market ]

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:

Parallel economy refers to:

• Traditional economy
• Black money
• Agriculture based economy
• Socialist economy
Solution
Correct Option: B  [ Black money ]

Explanation:

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

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

Explanation:

The basic regulatory authority for mutual funds and stock markets lies with the:

• Stock exchanges
• Government of India
• Reserve Bank of India
• Securities and Exchange Board of India.
Solution
Correct Option: D  [ Securities and Exchange Board of India. ]

Explanation:

Which of the following is not an asset held by the commercial bank ?

• Bills of exchange
• Current account deposits
• Money lent at short notice
• Credit balances with the Reserve Bank
Solution
Correct Option: B  [ Current account deposits ]

Explanation:

Gilt-edged market means:

• Market of government securities
• Bullion market
• Market of commodities
• Market of pure metals
Solution
Correct Option: A  [ Market of government securities ]

Explanation:

The full form of GST is:

• General Sales Tax
• Goods and Services Tax
• Government Special Tax
• General Service Tax
Solution
Correct Option: B  [ Goods and Services Tax ]

Explanation: