1.Consider the following statements 1. World Bank had explicitly defined the criteria for a country to be classified as a Least Developed. 2. According to this, there are currently 67 Least Developed countries in the world. Which of the statements given above is/are incorrect?
2.It is the government revenue and spending policy that influences macroeconomic conditions. And also it affects tax rates and government spending to control the economy. The passage talks about which of the following?
3.Consider the following statements 1. Revenue Deficit is the difference between revenue receipts on tax and non-tax sides and revenue expenditure. 2. Effective revenue deficit is defined as the difference between the revenue deficit and the interest payments. 3. Government has abandoned fixing targets for the reduction of Revenue deficit and Effective revenue deficit since 2018–19. Which of the statements given above are correct?
4.Consider the following statements about Fiscal Deficit 1. It is the difference between what the government earns and its total expenditure. 2. The net fiscal deficit is the gross fiscal deficit minus lending of the Central Government. 3. It is the only deficit that is followed by the government of India from 2018. Which of the given above statements are correct?
5.Consider the following statements about Monetized Deficit 1. It is borrowings made from the RBI through printing fresh currency. 2. It was discontinued from 2006 as a part of the Fiscal Responsibility and Budget Management Act. Which of the statements given above is/are correct?
6.With reference to Indian Economy, the term high powered money refers to
7.With reference to Indian Economy, Twin Deficit Challenge refers to which of the following deficits?
8.The twin deficit in an economy leads to which of the following impacts? 1. Rupee will depreciate 2. Outflows will slow down 3. Government borrowings will increase 4. Increase in foreign investments Select the correct answer using the codes given below;
9.Which of the following does not come under the fiscal stimulus package? 1. Enhancing tax GDP ratio 2. Higher deficit and spending 3. Direct tax reliefs 4. Cuts in Cash Reserve Ratio 5. Reduction in government subsidies Select the correct answer using the codes given below;
10.Which of the following are the features of the Fiscal Responsibility and Budget Management (FRBM) act? 1. RBI cannot print to give credit to the government. 2. Total debt of the GOI should be limited 3. Only borrowing for asset creation is to be allowed 4. Government does not borrow beyond rational limits 5. An independent Fiscal Council should be established Select the correct answer using the codes given below;
