Economics CLAT Flashcards
National Rural Employment Guarantee Programme was launched in:
2006 (passed in 2005)
A second round of nationalization of six commercial banks was done in ______
1980
In which year was the Aam Adami Bima Yojana launched?
2007
The largest producer and consumer of black tea in the world is:
India
Who is the author of the book ‘Planned Economy for India’?
M. Visvesvaraya
In 1945, the ‘People’s Plan ‘ for the development of economy was presented by:
MN Roy
The first five year plan of India began on:
April 1, 1951
Which state has the highest production of Rice?
West Bengal
Which of the following Five Year Plan was called The Rolling Plan?
Sixth Five Year Plan
Chelliah Committee constituted in 1991 gave recommendations on:
reform in tax structure
The fourteenth Finance Commission of India has been constituted under the Chairmanship of:
Dr Y.V Reddy
Mid-Day Meal, the largest school lunch programme in the world was launched in:
1995
Bharat Nirman was launched by the Government of India in:
2005
Janani Suraksha Yojana, which was introduced in 2005 covers:
all women of above 19 years age belonging to families below poverty line
The rate at which the central bank lends short term money to banks against government securities is:
Repo rate
The percentage of cash required to be kept in reserves, vis-a-vis a bank’s total deposits, is called the _________
Cash Reserve Ratio
As per Census 2011 of India, India’s population growth rate during 2001-11 stood at:
17.64%
What is meant by Disposal Personal Income?
Personal Income – Direct taxes
Which state is known as the Rice Bowl of India?
Andhra Pradesh
RBI keeps repo rate, reverse repo rate unchanged at:
Repo rate 4% and Reverse repo rate 3.35%
As per Census 2011 of India child sex ratio of India is:
914
Yellow revolution is associated with:
Oil seed production
Land Development Bank provides:
Long term loan
Wheat is a ______ crop
Rabi
Zayad crops are sown in the month of:
March
In India, financial year is counted from:
1st April to 31st March
The RBI currently follows a _________ financial year.
July-June
M. Damodaran committee is associated with:
Banking reform
What is Bull Market?
Where ppl buy shares in anticipation of rising prices
First Jute factory was established in India in:
Rishara in West Bengal
World’s largest producer and exporter of uranium?
Kazakhstan
Which five year plan is known for its complete failure?
Third Five Year Plan
US-based Mellon Bank created the first bad bank in:
1988
World Bank President
David Malpass
largest importer out of whole volume of trade:
USA
‘Blue Chip’ is concerned with such equity shares ___
whose purchase is extremely safe
FICCI President (for 2020-21)
Uday Shankar
SDR (paper gold) is associated with which organisation
International Monetary Fund (IMF)
The Imperial Bank, was later known as:
the State Bank of India
A market is called Buyer’s Market when:
the demand of good is less than supply
current CRR
4%
The FDI flows into the _________ market
primary
FIIs are ______-term investments
short term
_________ is when inflation increases at a slower rate
disinflation
‘Tech for Tribals’ programme is an initiative of:
TRIFED, supported by Ministry of MSME
Debt Service Suspension Initiative is an initiative of:
G20
Plastic Park Scheme is under:
M/o Chemicals and Fertilisers
NBFCs are often called:
shadow banks
MICR code has ___ digits, uniquely identifies the bank
9 digit code
Funds gathered by Elephant bonds are used to:
utilised to finance Infrastructure projects only.
Which is the bank that is launching the digital banking platform “Merchant Stack”?
ICICI Bank
Simultaneous purchase and sale of government securities under OMOs is popularly known as:
Operation twist
Who is the current MD and CEO of the Bombay Stock Exchange (BSE)?
Ashishkumar Chauhan (Ashish Chauhan)
India’s Fiscal deficit for 2020-21 was at ___ per cent or ₹18.21 lakh crore of the gross domestic product (GDP)
9.3%
The Reserve Bank of India was nationalised with effect from 1st January, ______
1949
The Reserve Bank of India will transfer a surplus of _________ to the central government
Rs 99,122 crore (second-highest ever)
In the _________ fiscal year, the RBI had transferred Rs 1.76 lakh crore to the central govt (highest ever)
2018-19
Which South Asian country has recently overtaken India in terms of per capita income?
Bangladesh (Sri Lanka has the highest in South Asia)
_________ is an Indian economist and the current Chief Economic Adviser to the Government of India
Krishnamurthy Venkata Subramanian
The maximum amount of government revenue comes from: (acc to Budget 2021)
Borrowings and other liabilities (36%)
Practice of trading on the stock exchange to one’s advantage through having access to confidential info:
insider trading
Provision of Urban Amenities to Rural Areas (PURA) is a concept was given by:
former president Dr. A.P.J. Abdul Kalam
Which one of the Cellular Mobile Phone companies had taken up the initiative ‘Save our Tigers’?
Aircel
_________ is India’s first genetically modified crop, to be approved for commercialization.
Bt cotton
The Goldman Sachs Group, Inc. is an American multinational _________
investment bank
SEBI in 2014 de-recognised which Stock Exchange on allegations of serious irregularities in its functioning?
Delhi Stock Exchange
Former Prime minister of India P V Narasimha Rao launched Look East policy in which year?
1992
Act East Policy was unveiled at the 12th ASEAN-India Summit in 2014 held in _________
Myanmar
India became a dialogue partner of ASEAN in 1996 and summit level partner in 2002; Strategic Partnership in _
2012
RBI has decided to conduct SLTRO of Rs 10,000 crore at repo rate for small finance banks for fresh lending of up to _________ per borrower.
Rs. 10 lakh
Borrowers w aggregate exposure of upto ___ who haven’t availed restructuring under earlier framework will be considered under Resolution Framework 2.0
Rs 25 crore
A challenge posed by the second wave of covid-19 in India is that consolidated public debt will approach ___ per cent of GDP.
90%
A challenge posed by the second wave of covid-19 in India is that the consolidated public sector borrowing requirements are budgeted above ___ of GDP in FY22
11 per cent
A note of what denomination was the first paper currency issued by RBI in January 1938? It had the portrait of George VI.
Rs 5 note
Though the GST council is required to meet once every _________, the last meeting was held in October last year
once every quarter
Di-ammonium phosphate fertilisers are the second most popular in India after ______, and the govt decided to increase the subsidy on them by 140%.
urea
Electoral bonds are issued by _________ in denominations of Rs 1,000, Rs 10,000, Rs 1 lakh, Rs 10 lakh and Rs 1 crore
the SBI
Public Enterprises Selection Board has picked _________ as the CMD of state-run Bharat Petroleum Corporation Ltd (BPCL).
Arun Kumar Singh
Which Small Finance Bank has announced the launch of the “I choose my number” feature for all its customers across India?
Jana Small Finance Bank
The _________ launched an Asia Pacific Tax Hub to create an open and inclusive platform to promote strategic policy dialogue, improve knowledge sharing
Asian Development Bank (ADB)
_________ aims to launch digital currency pilot later this year with a single stablecoin pegged to the U.S. dollar
Facebook-backed Diem Association
SWAMIH Fund to deliver over 6,000 housing units by end of FY22. Who is the manager for the government’s Rs 25,000-crore stressed-asset fund?
SBICAP Ventures
The Ministry of _________ has launched the Horticulture Cluster Development Programme (CDP) in order to promote the export of horticultural produce.
Ministry of Agriculture and Farmers Welfare
India recorded a rise in gross domestic product of ___% in the final three months of 2020, compared with the same period a year earlier
0.4%
The eight core sector industries include coal, crude oil, natural gas, _________, fertiliser, steel, cement and electricity
refinery products (FRENS 3C)
Indian economy achieved the highest growth rate of 8% during the _________ Five Year Plan, under the leadership of Manmohan Singh.
Eleventh Five Year Plan
Although being a poor country, India is still the world’s ______-largest economy by nominal GDP and the third largest by purchasing power parity (PPP)
fifth
The central bank has scaled down the FY22 (2021-22) gross domestic product (GDP) growth to ___ per cent as against the previous projection of 10.5 per cent
9.5%
Which bank has become the first to go live as a ‘Financial Information Provider’ (FIP) under the new ‘Account Aggregator Framework’ of RBI?
IndusInd Bank
_________ became the 1st PSU in the country to be wound up under the purview of Companies Act through the National Companies Law Tribunal (NCLT)
UP State Mineral Development Corporation (UPSMDC)
Green Climate Fund was established formally as a financing mechanism by UNFCCC in ______, it is headquartered in the Songdo district in South Korea
2010
Cabinet has approved proposal for equity infusion by govt of ________ in NIIF Debt Platform - sponsored by the National Investment and Infrastructure Fund (NIIF).
Rs. 6000 crores
RBI proposed a minimum equity capital of _________ to set up a small finance bank (SFB) under the ‘on tap’ licence regime
Rs 200 crore
