The full form of GST is:

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

Remark:

The architect of the Second Five Year Plan was :

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

Remark:

Fiscal Deficit is:

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

Remark:

Economic growth is usually coupled with ___________.

• deflation
• inflation
• Stagflation
• hyper inflation
Correct Option: B  [ inflation ]

Remark:

Which of the following Committees are related to Banking reforms:
i) Narsimham Committee
ii) P J Nayak Committee
iii) Sunil Mehta Committee
iv) Nachiket Mor Committee

• (i), (ii) and (iii) only
• (ii), (iii) and (iv) only
• (i) and (iv) only
• (i), (ii), (iii) and (iv)
Correct Option: D  [ (i), (ii), (iii) and (iv) ]

Remark:

Thename of Prasanta Chandra Mahalanobis is associated with:

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

Remark: Prof. Prasanta Chandra Mahalanobis is also known as the father of Indian Statistics, architect of the Second Five-Year Plan (1956–61).

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:

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:

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.

Which prograrnme gave the slogan, Garibi Hatao ?

• 4th Five Year Plan
• 5th Five year plan
• 6th Five Year Plan
• 7th Five year plan
Correct Option: B  [ 5th Five year plan ]

Remark: