Government imposes taxes to:

• run the machinery of State
• uplift of weaker sections
• check the accumulation of wealth among the rich
• None of the above
Solution
Correct Option: A  [ run the machinery of State ]

Explanation:

Which of the following has the highest per capita income ?

• Delhi
• Sikkim
• Haryana
• Goa
Solution
Correct Option: D  [ Goa ]

Explanation:

Assertion (A) :
The development programmes undertaken in India are oriented towards economic growth along with social justice.

Reason (R) :
Indian economy is afflicted with poverty, unemployment and inequalities.

Select the correct answer from the following options.

• Both (A) and (R) are correct, and (R) is the correct explanation for (A)
• Both (A) and (R) are correct, but (R) is not the correct explanation for (A)
• (A) is correct, but (R) is not correct
• (A) is not correct, but (R) is correct
Solution
Correct Option: A  [ Both (A) and (R) are correct, and (R) is the correct explanation for (A) ]

Explanation:

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:

First Five Year Plan started in India in the year?

• 1952
• 1956
• 1950
• 1951
Solution
Correct Option: D  [ 1951 ]

Explanation: 1951-56

The SEBI was given statutory recognition in 1992 on the recommendation of:

• the Chakraborty Commission
• the Chelliah Committee
• the Tendulkar Committee
• the Narasimham Committee
Solution
Correct Option: D  [ the Narasimham Committee ]

Explanation:

Who was the head of the 10th Finance Commission?

• K.C. Pant
• Manmohan Singh
• Vasant Sathe
• Shiv Shankar
Solution
Correct Option: A  [ K.C. Pant ]

Explanation:

Which of the statements given below is/are correct?

(i) GNP is always higher than GDP.

(ii) If GDP is greater than GNP, then net factor income earned abroad is negative.

Select the correct answer using the codes given below.

• Only (i)
• Only (ii)
• Both (i) and (ii)
• Neither (i) nor (ii)
Solution
Correct Option: B  [ Only (ii) ]

Explanation:

Fiscal Deficit is:

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

Explanation:

If withdrawal of a worker from employment does not create any output loss, this situation is known as

• Search unemployment
• Voluntary unemployment
• Disguised unemployment
• Frictional unemployment
Solution
Correct Option: C  [ Disguised unemployment ]

Explanation: