UPSC IAS Prelims 2015: Indian Economy : MCQ Set 5 : Economic Survey

This article will provide the Multiple Choice Questions of Economic Survey for the IAS Prelims Exam 2015

Created On: May 2, 2015 13:07 IST
Modified On: Jul 30, 2015 17:39 IST

1. Consider the following statements:

(i) The RIRI as mentioned in economy survey stands for “Rational Investor Ratings Index (RIRI).”
(ii) The RIRI is computed by averaging a country’s GDP growth rate and its macro-economic indicators
(iii) The macro-economic indicators in RIRI is measured as the average of the fiscal deficit, current account deficit, and inflation (all with negative signs)
(iv) India scores above all the BRICS nation in RIRI

Which of the statements given above is/are correct?
 (a) (i),(ii) and (iv) only
 (b) (i),(ii),(iii) and (iv)
 (c) (iii) and (iv) only
 (d) (i), (ii) and (iii) only


2. In January 2015, the central statistics office released a new GDP series that shifted the base year from 2004-05 to?

(i) 2009-10
(ii) 2010-11
(iii) 2011-12
(iv) 2012-13


3. Since the end of June 2014 the international crude oil price declined by about 50%.Of this, about 17% (representing about 34% of the overall decline) was passed on to consumers while the government retained the rest.

Which of the above statement justifies the Government actions?

(a) Government doesn’t want to share the margin with the people.
(b) Accounting for uncertainty about the future movement of prices, it wants to provide a necessary cushion to absorb the effect of higher oil prices in the future .
(c) Government of India had fixed the prices of its crude import by the past MOU with importing nation.  
(d) The cost of refining has gone up significantly in the last few months.


4. India’s overall revenue-to-GDP ratio (for the general Government) for 2014 is estimated at________   percent by the IMF.

 (a) 19.5
 (b) 25
 (c) 29
 (d) 33


5 The new scheme “Pahal” by the Government of India is related to?

(a)Nutritional support to the secondary school children.
(b) Direct Benefits Transfer under Right to food act.
(c)Cash transfer to the farmers due to inclement weather and crop lost.
(d) Direct Benefits Transfer for LPG (DBTL).


6. Consider the following statements:

(i) Government has raised gas prices from US$ 4.2 per million British thermal unit to US$ 5.6 and linking pricing, transparently and automatically, to international prices.
(ii)Government has recently disinvested 5 percent stake in Coal India Ltd.      and yielded Rs 22,500 crore,of which 5,800 crore was from foreign investors.
(iii)   Government has Instituted a major financial inclusion—the Pradhan Mantri Jan Dhan Yojana under which over 12.5 crore new accounts have been opened till mid-February 2014.

Which of the statements given above is/are correct?

(a)    (i) and (iii) only
(b)    (i) and (ii) only
(c)    (ii) and (iii) only
(d)    (i),(ii) and (iii)


7.  Consider the following statements:

 (i) Government has increased the FDI in Insurance sector from 24 percent to 49 percent.
 (ii) As per the guidelines, FDI of up to 26 per cent come under automatic route and beyond 26 per cent and up to 49 per cent government approval is needed.

 Based on the above statements chose the correct option?

(a)    Statement I is only correct.
(b)    Statement II is only correct.
(c)    Both statements I and II correct.
(d)   None of these.


8. With reference to the Expenditure Management Commission (EMC) under the chairmanship of Dr. Bimal Jalan, consider the following statements:

(i) The Commission will submit its interim report before the Budget of 2015-16 and its final report before the Budget of 2016-17.
(ii) Review the major areas of Central government expenditure, and to suggest ways of creating fiscal space required to meet developmental expenditure needs, without compromising commitment to fiscal discipline.
(iii) Suggest measures to improve allocative efficiencies in the existing expenditure classification system, including focus on capital expenditure.

Which of the statements given above is/are correct?

(a) (i) only
(b) (ii) only
(c)(i),(ii) and (iii)
(d) (ii) and (iii) only


9. With reference to the estimates on employment growth in India and its survey, consider the following statements:

(i) Labour Bureau does annual survey
(ii) National Sample Survey (NSS) does Quinquennial survey
(ii) Census does a decadal survey
(iv) Economic Census (EC) doesn’t have a fixed periodicity

Which of the statements given above is/are correct?

(a) (i) and (ii) only
(b) (i),(ii),(iii) and (iv)
(c) (i),(ii) and (iii) only
(d) (ii) and (iii) only


10. What does JAM Number Trinity solution means as per the Economic Survey 2014-15?

(a)Jan Dhan-Aadhaar-Mobile
(b)Jan Dhan-Awash-Mobile
(c)Jan Dhan-Account-Money
(d)Jan Dhan-Aadhaar-Market


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