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IASbaba '60 Day Plan' - Prelims Test 2016 [Day 33]
Q.1) Which of the following is incorrectly matched?
a) Tax administration reforms commission – Justice Ashok Kumar Mathur
b) Expenditure Management Commission – Bimal Jalan
c) Committee to simplify Income Tax laws – Justice R V Easwar
d) FRBM review panel – N K Singh
Q.2) The GST Council will be the body that decides which taxes levied by the Centre, States and local bodies will go into the GST. Who among the following are members of GST Council?
Select the correct answer
a) 1, 2 and 4 only
b) 1, 2, and 3 only
c) 1, 2, 3 and 5 only
d) All of the above
Q.3) Consider the following about Gold Monetization Scheme.
Select the correct answer
a) 1 and 2 only
b) 1, 2 and 3 only
c) 1, 3 and 4 only
d) All of the above
Q.4) Which of following qualify as measures taken to curb tax evasion and black money by government?
Select the correct answer
a) 1, 2 and 3 only
b) 1, 2 and 4 only
c) 1, 3 and 4 only
d) All of the above
Q.5) Consider the following.
Select the correct answer:
a) 1 only
b) 2 only
c) Both 1 and 2
d) None of the above
Q.6) Consider the following.
Select the correct answer:
a) 1 only
b) 2 only
c) Both 1 and 2
d) None of the above
Q.7) Consider the following.
Select the correct answer:
a) 1 only
b) 2 only
c) Both 1 and 2
d) None of the above
Q.8) Consider the following about revenue and capital receipts.
Select the correct answer
a) 1 and 2 only
b) 1, 2 and 3 only
c) 1, 2 and 4 only
d) All of the above
Q.9) Which of the following is incorrect w.r.t Ways and Means Advances (WMAs)?
a) RBI provides 2 types of WMAs to state governments one with and another without collaterals.
b) WMAs given by RBI to government of India do not require any collateral.
c) Replacement of adhoc bills with WMAs represents an advance in fiscal discipline and harmonization of fiscal and monetary policies.
d) WMAs are made at Repo rate.
Q.10) Which of the following is correct debt?
a) The union government borrows directly from international capital markets with the help of debt management agencies.
b) Small savings and provident funds are part of other liabilities.
c) Dated securities as part of market borrowings are issued by union governments as T-bills with 14 days, 91days, 182days maturity.
d) Public debt means only internal debt and other liabilities but not external debt.
Q.11) Which of the following recommendations of 14th Finance Commission regarding tax Devolution are accepted by the Government?
Select the code from the following:
a) 1,2 and 3
b) 2,3 and 4
c) 1,3 and 4
d) All of the above
Q.12) Consider the following statements regarding ‘Financial Stability’:
Which of the above statements are correct?
a) 1 and 2
b) 2 and 3
c) 1 and 3
d) All of the above
Q.13) Volume two of Economic Survey talks about a ‘Chakravyuh’ problem of Indian economy. Which of the following does ‘Chakravyuh’ refers to?
a) Vicious cycle of poverty and lack of capital
b) Over dependence of economy on Foreign Direct investment
c) Lack of clear exit policy for companies
d) Conflict between economic growth and inflation
Q.14) Consider the following Statements regarding ‘Gyan Sangam’ summit:
Which of the above statements are correct?
a) 1 only
b) 2 and 3
c) 1 and 3
d) None of the above
Q.15) SARFAESI Act refers to Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. Banks utilize this act as an effective tool for bad loans (NPA) recovery. Which of the following statements are correct about this act?
Select the code from the following:
a) 1 and 2
b) 2 and 3
c) 1 and 3
d) All of the above
Q.16) Which of the following regarding ‘Tax Buoyancy’ are correct:
Select the code from below:
a) 1 only
b) 2 only
c) Both 1 and 2
d) Neither 1 nor 2
Q.17) Which of the following statements are correct regarding ‘Pigovian’ Tax?
Select the code from the following:
a) 1 and 2
b) 2 and 3
c) 1 and 3
d) All of the above
Q.18) NITI Aayog has replaced the older planning commission. Which of the following points differentiates NITI aayog from Planning Commission?
Select the code from the following:
a) 1 and 2
b) 2 and 3
c) 1 and 3
d) All of the above
Q.19) Consider the following statements regarding subsidies in current fiscal year:
Which of the above statements are correct?
a) 1 only
b) 2 only
c) Both 1 and 2
d) Neither 1 nor 2
Q.20) Which of the following statement are the recommendation of Tax Administration Reforms Commission?
Select the code from the following:
a) 1,3 and 4
b) 3 and 4
c) 1,2 and 3
d) All of the above
Q.21) Consider the following statements with respect to cryogenic engine
Select the correct option
a) 1 only
b) 2 only
c) Both
d) None
Q.22) Consider the following statements with respect to GAGAN satellite
a) It is used for telemedicine in rural areas
b) It is used to provide live streaming of classes from top Indian universities
c) It is used to provide navigation facilities for civil aviation
d) It is used for rain and whether forecasting
Q.23) Consider the following
Which of the above space missions are launched using PSLV launch vehicle?
a) 1 &3 only
b) 1&2 only
c) 2&3 only
d) All
Q.24) Consider the following statements with respect to IRNSS (Indian regional navigation satellite system)
Select the correct answer
a) 1 only
b) 2 only
c) Both
d) None
Q.25) Consider the following statements with respect to ISRO (Indian space research organisation)
Select the correct option
a) 1 only
b) 2 only
c) Both
d) None
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P.S- Attempt these questions within 20 minutes with full honesty and write your results in the comment box. Next day, come back and check your result. You can also discuss the important concepts and issues, in case of doubts (among peers)
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IASbaba