Poverty is defined as:

• A monetary condition brought about by people's own laziness
• A monetary condition where people do not have enough to satisfy basic needs
• A monetary and non-monetary conditions where people lack access to community regulated common resources, opportunities and income
• All of the above
Correct Option: C  [ A monetary and non-monetary conditions where people lack access to community regulated common resources, opportunities and income ]

Remark:

A closed economy is an economy in which:

• the money supply is fully controlled
• deficit financing takes place
• only exports take place
• Neither exports nor imports take place.
Correct Option: D  [ Neither exports nor imports take place. ]

Remark:

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
Correct Option: D  [ 1st July, 2015 ]

Remark:

Which of the following sources provides highest tax revenue to Government of India?

• Personal Income Tax
• Excise Duty
• Corporation Tax
• Customs Duty
Correct Option: C  [ Corporation Tax ]

Remark:

The Special Economic Zones Act was passed by the Indian Parliament in 2005 and the Act came into force in:

• 2006
• 2009
• 2010
• 2012
Correct Option: A  [ 2006 ]

Remark:

Gilt-edged market means:

• Market of government securities
• Bullion market
• Market of commodities
• Market of pure metals
Correct Option: A  [ Market of government securities ]

Remark:

NITI Aayog, which replaced the Planning commission of India, was formed by a cabinet resolution of the Government of Inda on:

• 1st January, 2015
• 26th January, 2015
• 15th August, 2015
• None of the above
Correct Option: A  [ 1st January, 2015 ]

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 benefits is covered under social security schemes ?

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

Remark:

Green revolution occurred during:

• 1945-1955
• 1965-1975
• 1985-1995
• none of these
Correct Option: B  [ 1965-1975 ]

Remark: