DAY 86Quick read
DAY 86
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Question 1 of 10
1. Question
2 pointsMatch the following monetary policy instruments with their definitions
Choose the correct answer using the codes given below
Correct
Incorrect
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Question 2 of 10
2. Question
2 pointsConsider the following statements about Statutory liquidity ratio(SLR) ad Cash reserve ratio(CRR)
1.CRR enables banks to earn money while SLR doesn’t earn any interest.
2.CRR is maintained in cash form with RBI whereas SLR is money held as government securities and cash held with banks themselves.
3.CRR as a monetary tool is used when there is need to contain inflation and credit expansion.
Which of the above statements are true?Correct
CRR doesn’t earn interest while SLR does. SLR investments in government securities acts as a financial resource for government spending. Further, SLR is also used to ensure solvency of the banks. Along with CRR, even SLR is used to control credit expansion.
Incorrect
CRR doesn’t earn interest while SLR does. SLR investments in government securities acts as a financial resource for government spending. Further, SLR is also used to ensure solvency of the banks. Along with CRR, even SLR is used to control credit expansion.
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Question 3 of 10
3. Question
2 pointsWhich of the following are functions of RBI?
1.Bank of issue
2.Banker to government
3.Banker’s bank and lender of last resort
4.Financial adviser of government
Choose the correct answer using the codes given belowCorrect
Under the RBI Act, it has the sole authority to issue currency notes of all denominations. RBI also has an obligation to carry out government transactions, ie, receive and make payments on behalf of the government as well as carry out their banking operations. RBI controls the volume of credit through monetary instruments.It also issues government bonds, T-bills and acts as adviser to the government in economic and financial matters. Further, RBI acts as national clearing house for settlement of banking transactions.
Incorrect
Under the RBI Act, it has the sole authority to issue currency notes of all denominations. RBI also has an obligation to carry out government transactions, ie, receive and make payments on behalf of the government as well as carry out their banking operations. RBI controls the volume of credit through monetary instruments.It also issues government bonds, T-bills and acts as adviser to the government in economic and financial matters. Further, RBI acts as national clearing house for settlement of banking transactions.
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Question 4 of 10
4. Question
2 pointsConsider the following statements about Monetary Policy Committee
1.Objective of monetary policy if to maintain price stability, while keeping in mind objective of growth and to meet the challenge of an increasingly complex economy.
2.The MPC is to be a 6 member committee headed by the RBI governor that is entrusted with the task of setting benchmark policy interest rate(Repo rate) to contain inflation within targeted level.
3.MPC is an executive body that derives its functions from executive resolution passed by the Finance ministry.Which of the above statements are true?
Correct
RBI and GoI signed the Monetary Policy framework agreement in 2015. Finance Act 2016 amended RBI Act 1934 to give statutory backing to MPC agreement and for setting up MPC. MPC replaces the system where the RBI governor, with the aid and advice of his internal team and technical advisory committee, had complete control over monetary policy decisions. It has 3 members from RBI including the governor and 3 independent members selected by the government.
Incorrect
RBI and GoI signed the Monetary Policy framework agreement in 2015. Finance Act 2016 amended RBI Act 1934 to give statutory backing to MPC agreement and for setting up MPC. MPC replaces the system where the RBI governor, with the aid and advice of his internal team and technical advisory committee, had complete control over monetary policy decisions. It has 3 members from RBI including the governor and 3 independent members selected by the government.
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Question 5 of 10
5. Question
2 pointsMatch the following types of banks with their descriptions
Choose the correct answer using the codes given belowCorrect
Incorrect
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Question 6 of 10
6. Question
2 pointsConsider the following statements regarding trends in tax receipts
1. Gross tax receipt as percentage of GDP has increased in the previous 5 years
2. Direct tax as percentage of GDP has increased in the previous 5 years.
3. Indirect tax as percentage of GDP has increased in the previous 5 years.
Which of the above statements are true?Correct
Incorrect
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Question 7 of 10
7. Question
2 pointsConsider the following statements regarding deficit trends in the last 5 years
1.Fiscal deficit as percentage of GDP has decreased.
2.Revenue deficit as percentage of GDP has increased.
3.Effective revenue deficit as percentage of GDP has decreased.Which of the above statements are true?
Correct
Incorrect
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Question 8 of 10
8. Question
2 pointsConsider the following statements regarding debt trends in the previous 5 years.
1.External debt as percentage of GDP has decreased.
2.Central government debt as percentage of GDP has increased.
Which of the above statements are true?Correct
Incorrect
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Question 9 of 10
9. Question
2 pointsWhich of the following tax reforms have been proposed in the Budget 2020-2021?
- Concessional corporate tax rate of 25 per cent to new domestic companies in the manufacturing and power sector.
- Tax concession for sovereign wealth fund of foreign governments and other foreign investments.
- Health cess to be imposed on imports of medical equipment given these are made significantly in India.
Choose the correct answer using the codes given below
Correct
Corporate tax to be at 15% for new companies in the power and manufacturing sector. Further, Tax concession for sovereign wealth fund of foreign governments and other foreign investments; Extension of time limits pertaining to the tax benefits for affordable housing; Turnover threshold for audit of MSMEs increased.
Incorrect
Corporate tax to be at 15% for new companies in the power and manufacturing sector. Further, Tax concession for sovereign wealth fund of foreign governments and other foreign investments; Extension of time limits pertaining to the tax benefits for affordable housing; Turnover threshold for audit of MSMEs increased.
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Question 10 of 10
10. Question
2 pointsArrange the expenditure of following ministries in ascending order
- Ministry of Housing and Urban Affairs
- Ministry of Defence
- Ministry of Home Affairs
- Ministry of Human Resource Development
Choose the correct answer using the codes given below
Correct
(In crores):-Ministry of Housing and Urban Affairs(INR 50040)-Ministry of Health and Family Welfare(INR 67112)-Ministry of Railways(INR 72216)-Ministry of Road Transport and Highways(INR 91823)-Ministry of Human Resource Development(INR 99312)-Ministry of Rural Development(INR 122398)-Ministry of Consumer Affairs, Food and Public Distribution (INR 124535)-Ministry of Agriculture and Farmers’ Welfare(INR 142762)-Ministry of Home Affairs(INR 167250)- Ministry of Defence(INR 471378)
Incorrect
(In crores):-Ministry of Housing and Urban Affairs(INR 50040)-Ministry of Health and Family Welfare(INR 67112)-Ministry of Railways(INR 72216)-Ministry of Road Transport and Highways(INR 91823)-Ministry of Human Resource Development(INR 99312)-Ministry of Rural Development(INR 122398)-Ministry of Consumer Affairs, Food and Public Distribution (INR 124535)-Ministry of Agriculture and Farmers’ Welfare(INR 142762)-Ministry of Home Affairs(INR 167250)- Ministry of Defence(INR 471378)
