Which of the following is the role of Finance Commission ?

• Sharing of net proceeds of taxes between the Centre and States.
• Recommending principles for governing the grants-in-aid to the States by the Centre
• Recommendations on matters referred to it by the President for the interest of finance
• All of the above
Correct Option: D  [ All of the above ]

Remark:

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

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

Remark:

The Mahalanobis strategy of Indian Planning gave emphasis to the growth of:

• Agricultural sector
• Services sector
• Heavy Capital Goods Industrial sector
• Small scale Village Industrial sector
Correct Option: C  [ Heavy Capital Goods Industrial sector ]

Remark:

What is the 'Repo rate' ?

• It is the rate at which International Aid Agencies lend to RBI
• It is the rate at which the banks lend to RBI
• It is the rate at which RBI borrows from the market
• It is the rate at which RBI lends to banks
Correct Option: D  [ It is the rate at which RBI lends to banks ]

Remark:

The highest body which approves the Five Year Plan in India is :

• Parliament
• Planning Commission
• National Development Council
• Finance Commission
Correct Option: C  [ National Development Council ]

Remark:

The Iron and Steel plants of Rourkela and Durgapur were conceived under the:

• First Five Year Plan
• Second Five Year Plan
• Third Five Year Plan
• Fourth Five Year Plan
Correct Option: B  [ Second Five Year Plan ]

Remark:

The World Trade Organisation has replaced which organisation ?

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

Remark:

Three annual plans were launched between:

• 1969 to 1972
• 1986 to 1989
• 1990 to 1993
• 1966 to 1969
Correct Option: D  [ 1966 to 1969 ]

Remark:

SRI, which is highly practiced in Tripura is associated with:

• Rice production
• Rural internal connectivity
• E-marketing
• Regards to elders
Correct Option: A  [ Rice production ]

Remark:

Existence of huge black money creates

• increase in the inequality of income
• decrease in the quality of output
• high living standard for all
• Both (B) and (C)
Correct Option: A  [ increase in the inequality of income ]

Remark: