Welcome to your CA Test 01 Sep 2022
Q1. Consider the following statements regarding the Importance of Fiscal Policy in India: 1) Fiscal policy plays a key role in elevating the rate of capital formation both in the public and private sectors. 2) Fiscal policy aims to minimise the imbalance in the dispersal of income and wealth. 3) Fiscal policy helps in providing stimulus to elevate the savings rate. Which of the above statements is/are correct?
Q2. Consider the following statements: 1) Primary deficit implies that the government is unable to contain recurring expenditure such as subsidies and other discretionary expenditures within the limits of recurring non-debt revenue. 2) Increasing primary deficit will lead to higher revenue deficit and unsustainable debt servicing in future. Which of the above statements is/are incorrect?
Q3. Consider the following statements regarding Variable Rate Reverse Repo (VRRR) auction: 1) Reserve Bank of India (RBI) conducts Variable Rate Reverse Repo (VRRR) auction to absorb liquidity in the economy. 2) It is usually conducted for a shorter period, say less than 3 days. Which of the above statements is/are correct?
Q4. Consider the following statements regarding Goods and Services Tax (GST): 1) GST is designed on the principle of destination-based consumption taxation, with seamless provision for input tax credit. 2) GST Council is the key decision-making body, chaired by the Union Finance Minister with a Minister of State in charge of Finance and the Finance Ministers of States as members. 3) GST is applicable to all goods and services except specified petroleum products. Which of the above statements is/are correct?
Q5. Consider the following statements regarding India’s gold imports: 1) India is the largest importer of gold in the world. 2) Majority of the gold demand is due to RBI’s requirements. Which of the above statements is/are correct?
Q6. Consider the following statements: 1) At present India is among the top five largest importing nations in the world. 2) At present India’s share in global GDP is around 10 percent. Which of the above statements is/are correct?
Q7. Consider the following statements regarding Hedge Funds: 1) Hedge funds are included in the category of Alternative Investment Fund (AIF). 2) These funds are not regulated by SEBI. Which of the above statements is/are correct?
Q8. Consider the following statements regarding Credit / Debit Card tokenisation: 1) Tokenisation is a process in which the customer would need to manually key in their card details each time they complete an online purchase. 2) Tokenisation would allow online purchases to go through without exposing card details, in a bid to improve data security. Which of the above statements is/are correct?
Q9. Movements in the foreign currency assets (FCA) in India occur mainly on account of: 1) Purchase and sale of foreign exchange by the RBI 2) Income arising out of the deployment of the foreign exchange reserves 3) External aid receipts of the Central Government 4) Effects of revaluation of the assets Select the correct answer code:
Q10. In India, in the last 10 years the maximum number of elephants were killed due to:
