Scheme run under MGNREGA are sponsored :

• by the Central Government alone
• by the State Government alone
• partly by the Central Government and partly by the State Government
• by Centre, State and Panchayat bodies together
Solution
Correct Option: C  [ partly by the Central Government and partly by the State Government ]

Explanation:

Which of the following pairs is/are incorrectly matched?

i. Finance Commission	: Constitutional of India
ii. Securities and Exchange Board of India	: Statutory Body
iii. NITI Aayog	: Constitutional Body
iv. Reserve Bank of India	: Statutory Body

Select the correct answer using the codes given below.

• (i) and (iii) only
• (ii) and (iv) only
• (iii) only
• (iv) only
Solution
Correct Option: C  [ (iii) only ]

Explanation:

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:

Economic growth is usually coupled with ___________.

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

Explanation:

The period of high inflation and low economic growth is termed as:

• Stagnation
• Take-off stage in economy
• Stagflation
• Depression
Solution
Correct Option: C  [ Stagflation ]

Explanation:

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
Solution
Correct Option: D  [ All of the above ]

Explanation:

Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, popularly known as Black Money Act, 2015 came into effect from :

• 1st April, 2015
• 1st May, 2015
• 1st June, 2015
• 1st July, 2015
Solution
Correct Option: D  [ 1st July, 2015 ]

Explanation:

If the Cash Reserve Ratio (CRR) is lowered by the RBI, its impact on credit creation will be to :

• decrease it
• increase it
• No impact
• None of these
Solution
Correct Option: B  [ increase it ]

Explanation:

Three annual plans were launched between:

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

Explanation:

Which is the following is direct tax ?

• Income tax
• Excise duty
• Sales tax
• None of these
Solution
Correct Option: A  [ Income tax ]

Explanation: