In India the Repo rate is announced by:

• the Ministry of Finance, Government of India
• the Prime Minister of India
• the Reserve Bank of India
• the President of India
Correct Option: C  [ the Reserve Bank of India ]

Remark:

NPA of a commercial bank means:

• Net-Performing Asset
• New-Performing Asset
• Non-Personal Account
• Non-Performing Asset
Correct Option: D  [ Non-Performing Asset ]

Remark: A non performing asset (NPA) is a loan or advance for which the principal or interest payment remained overdue for long period.

The growth of per capita income of current prices is higher than that of per capita income at constant prices because the later takes into account the rate of

• growth of population
• increase in price level
• growth of money supply
• increase in the wage rate
Correct Option: B  [ increase in price level ]

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:

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:

What is hard currency?

• A stable currency
• Arranged in war time
• Issued by IMF
• Given by RBI to foreign banks
Correct Option: A  [ A stable currency ]

Remark:

Which of the following sources provides highest tax revenue to Government of India?

• Personal Income Tax
• Excise Duty
• Corporation Tax
• Customs Duty
Correct Option: C  [ Corporation Tax ]

Remark:

Poverty is defined as:

• A monetary condition brought about by people's own laziness
• A monetary condition where people do not have enough to satisfy basic needs
• A monetary and non-monetary conditions where people lack access to community regulated common resources, opportunities and income
• All of the above
Correct Option: C  [ A monetary and non-monetary conditions where people lack access to community regulated common resources, opportunities and income ]

Remark:

The World Trade Organisation has replaced which organisation ?

• ITO
• UNCTAD
• GATT
• OECD
Correct Option: C  [ GATT ]

Remark:

Tertiary sector activities include

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

Remark: