The architect of the Second Five Year Plan was :

• Mahatma Gandhi
• Subhash Chandra Bose
• P. C. Mahalanobis
• None of them
Solution
Correct Option: C  [ P. C. Mahalanobis ]

Explanation:

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
Solution
Correct Option: C  [ States can not levy income tax ]

Explanation:

In which year the Planning commission was set-up?

• 1949
• 1950
• 1951
• 1952
Solution
Correct Option: B  [ 1950 ]

Explanation:

Which of the following benefits is covered under social security schemes ?

• Retirement benefits
• Medical facility
• Compensation facilities
• All of the above
Solution
Correct Option: D  [ All of the above ]

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:

Parallel economy refers to:

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

Explanation:

Find out the statement which is false.
Financial Structural reform needs

• fall in government budget deficit
• increase in profitability of economic sectors
• reduce inflationary pressure
• increase in the balance of payment deficit
Solution
Correct Option: D  [ increase in the balance of payment deficit ]

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:

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:

Which among the following in India has the function of recommending Minimum Support Prices for various commodities to the Government ?

• National Farmers Commission
• Commission for Agricultural Costs and Prices
• Central Statistical organization
• Department of Agriculture
Solution
Correct Option: B  [ Commission for Agricultural Costs and Prices ]

Explanation: