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Index
CHAPTER-1: INTRODUCTION OF ECONOMICS ......................................................................................... 3
CHAPTER-2: NATIONAL INCOME ACCOUNTING ..................................................................................... 4
CHAPTER-3: BASIC CONCEPTS OF MICROECONOMICS ......................................................................... 7
CHAPTER-4: LAND REFORMS ....................................................................................................................... 8
CHAPTER-5: PLANNING ................................................................................................................................. 11
CHAPTER-6: FISCAL POLICY......................................................................................................................... 15
CHAPTER-7: BALANCE OF PAYMENT AND FOREIGN TRADE ............................................................... 21
CHAPTER-8: TAXATION ................................................................................................................................. 25
CHAPTER-9: MONETARY AND CREDIT POLICY ....................................................................................... 29
CHAPTER-10: INFLATION ................................................................................................................................ 31
CHAPTER-11: EMPLOYMENT AND UNEMPLOYMENT .............................................................................. 33
CHAPTER-12: BANKING SYSTEM IN INDIA ................................................................................................. 35
CHAPTER-13: FINANCIAL MARKETS ............................................................................................................ 42
CHAPTER-14: DIGITAL PAYMENTS ............................................................................................................... 45
CHAPTER-15: TRADE AND INDUSTRY .......................................................................................................... 48
CHAPTER-16: LOGISTICS AND INFRASTRUCTURE .................................................................................... 52
CHAPTER-17: INCLUSIVE GROWTH .............................................................................................................. 56
CHAPTER-18: MANUFACTURING AND SERVICE SECTOR ....................................................................... 58
CHAPTER-19: INTERNATIONAL ECONOMIC ORGANISATIONS .............................................................. 61
CHAPTER-20: REPORTS .................................................................................................................................... 65
CHAPTER-21: POVERTY AND HUNGER ........................................................................................................ 66
CHAPTER-22 AGRICULTURE.......................................................................................................................... 68
CHAPTER-23 ENERGY SECTOR ..................................................................................................................... 74
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6. With reference to the Indian economy, 8. Consider the following statements with
consider the following statements: respect to mixed economy:
1. Before 1993, India followed a "Fixed 1. An economy with a combination of
and Adjustable" exchange rate system. private and public ownership of
2. After 1993, India adopted a floating businesses.
exchange rate system based on market 2. An economy where all economic
forces. decisions are made by the government.
3. Managed Float is a type of floating 3. An economy that solely relies on import
exchange rate where the Central bank substitution.
intervenes as needed. 4. Government follows the principle of
How many of the above statements are ‘government has no business to do
correct? business’
(a) Only one How many of the above statements are
(b) Only two correct?
(c) All three (a) Only one
(d) None (b) Only two
(c) Only three
7. Which of the following best describes the (d) All Four
fundamental characteristics of a socialist
economy?
(a) Central planning and control of
resources
(b) Private ownership of the means of
production
(c) Income and wealth equality
(d) Minimal government intervention in
economic activities
CHAPTER-2: NATIONAL INCOME ACCOUNTING
9. Consider the following statements regarding 10. Consider the following statements regarding
GDP calculation methods: the calculation of GDP in the Indian
1. The Expenditure Method solely relies on economy:
the household sector's spending on 1. The Product or Value-Added Method
consumption goods. calculates GDP by summing up the
2. The Income Method emphasizes the value of all goods produced without
revenues earned by firms and their considering value addition.
distribution to factors of production. 2. Expenditure Method accounts for
3. GDP can be calculated by summing expenditures made only by the private
private consumption, government sector on capital goods.
consumption, investments, exports, and 3. GDP calculated through the Income
imports. Method accounts for wages, rents,
How many of the above statements are interests, and profits received by the
correct? factors of production.
(a) Only one (b) Only two How many of the above statements are
(c) All three (d) None correct?
(a) Only one (b) Only two
(c) All three (d) None
How many of the above statements are 18. With reference to Gross Domestic Product
correct? (GDP), consider the following:
(a) Only one 1. The rising GDP of a country is a definite
(b) Only two sign of increasing welfare of its citizens.
(c) All three 2. GDP of a country is always spread
(d) None evenly across various economic
domains.
16. Consider the following statements about the Which of the statements given above is/are
Indian economy: correct?
1. Gross investment constitutes the portion (a) 1 only
of GDP involving only financial capital (b) 2 only
infusion. (c) Both 1 and 2
2. Physical capital, financial capital, and (d) Neither 1 nor 2
intellectual capital are the three
categories under which economists 19. The Factor cost of a good include(s) which of
classify capital. the following?
3. The distinction between consumption 1. Payments for raw materials.
and capital goods depends solely on 2. Wages to labour for production.
their durability and not on their 3. Taxes. Select the
utilization.
Correct answer using the code given below:
How many of the above statements are
(a) Only one
correct?
(b) Only two
(a) Only one
(c) All three
(b) Only two
(d) None
(c) All three
(d) None
20. Which one of the following statements is
incorrect with reference to Gross Fixed
17. Consider the following statements: Capital Formation?
Statement-I: India will be the world’s fastest (a) Fixed assets in Gross Fixed Capital
growing economy in 2023 and 2024 Formation includes tangible assets but
according to global excludes intangible assets.
estimates. (b) It includes only those assets that come
Statement-II: India is experiencing a post- into existence as a result of a production
pandemic retail boom and recent bank process.
balance-sheet repairs are also luring new (c) It excludes land purchases and
investment. depreciation.
Which one of the following is correct in (d) It measures only the value of net
respect of the above statements? additions to fixed assets
(a) Both Statement-I and Statement-II are
correct and Statement-II is the correct
21. With reference to Indian economy, consider
explanation for Statement-I
the following statements:
(b) Both Statement-I and Statement-II are
1. An increase in economic variables over
correct and Statement-II is not the
a period of time is called an economic
correct explanation for Statement-I
growth
(c) Statement-I is correct but Statement-II is
2. Economic development brings
incorrect
qualitative changes in the economy.
(d) Statement-I is incorrect but Statement-II
3. Economic growth only brings
is correct
quantitative changes in the economy.
28. Which of the following best explains the Law 29. Which one of the following statements best
of variable proportions? explaind the concept of “Aggregate
(a) It is the change in total production cost Demand”?
that comes from making or producing (a) It is the sum of demand of all
one additional unit. households in an economy
(b) It states that as we increase the quantity (b) It is the sum of demand for all consumer
of only one input the total product goods and services, fixed capital goods,
increases at an increasing rate in the change in the stock of unused raw
beginning but production falls in later materials, half produced goods and
stage. unsold goods, valuables, government
(c) It states that when we applied more and spending and net exports
more units of variable factor to a given (c) It is the sum of demand for all consumer
quantity of fixed factor, total product goods and services, fixed capital goods,
increases at a diminishing rate and change in the stock of unused raw
marginal product falls. materials, half produced goods and
(d) It refers to factors which cannot be unsold goods, valuables, government
changed in the short run and do not vary spending, exports and imports
directly with the output. (d) It is the sum of demand for all goods and
services within an economy
CHAPTER-4: LAND REFORMS
30. With reference to land reforms in India during 2. The Permanent Settlement by Lord
British rule, consider the following statements: Cornwallis aimed to provide stability to
1. The Permanent Settlement in Bengal, revenue collection by transferring land
Bihar, and Odisha aimed to stabilize the ownership from landlords to peasants.
revenue system by transferring land 3. The Ryotwari Settlement introduced in
ownership from peasants to landlords. Bombay and Madras Presidencies had
2. The Ryotwari settlement recognized the no intermediaries involved in land
cultivators as landowners, issuing them revenue settlement.
documents confirming their ownership How many of the above statements are
rights.
correct?
3. The Mahalwari System primarily
introduced in the Ganga valley allowed
villages to collectively pay revenue to (c) All three (d) None
the state at the village level.
How many of the above statements are 32. With reference to land reforms in India,
correct? consider the following statements:
(a) Only one (b) Only two 1. The Zamindari Abolition Act abolished
(c) All three (d) None all rights of zamindars and jagirdars
without providing compensation.
31. With reference to the land reforms during 2. The vast mass of the peasantry was freed
British rule in India, consider the following from all illegal exactions in cash, kind,
statements : and services due to the Act.
1. The Five-Year Settlement introduced by 3. The Act led to radical redistribution of
Warren Hastings aimed to bring stability land, significantly improving the
to revenue collection but led to revenue position of poorer tenants,
instability due to high bids by sharecroppers, and agricultural laborers.
inexperienced contractors.
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How many of the above statements are 3. The National Generic Document
correct? Registration System (NGDRS)
(a) Only one eradicates the need for deed/document
(b) Only two registration in local languages.
(c) All three How many of the above statements are
(d) None correct?
38. Consider the following statements regarding (c) All three (d) None
the Digital India Land Records
Modernization Programme (DILRMP): 40. With reference to land reforms in
1. The DILRMP introduced the concept of independent India, consider the following
Unique Land Parcel Identification statements:
Number (ULPIN) for identifying land 1. It envisages privatizing agricultural land
parcels uniformly across the country. for commercial purposes.
2. National Generic Document Registration 2. It aimed at encouraging large
System (NGDRS) standardizes the landholdings for increased agricultural
process of deed/document registration, productivity.
ensuring uniformity despite variations in 3. It permitted no exemptions to the ceiling
registration practices across different limit.
states. 4. The major aim was redistributing land to
3. The scheme translates Records of Rights landless and marginalized farmers.
into all 22 languages mentioned in the How many of the above statements is/are
Constitution, eliminating linguistic correct?
barriers in land governance. (a) Only one
How many of the above statements are (b) Only two
correct? (c) Only three
(a) Only one (b) Only two (d) All four
39. Consider the following statements regarding

the Digital India Land Records
Modernization Programme (DILRMP):
1. DILRMP aims to resolve boundary-
related disputes and arbitration cases,
thereby reducing the burden on the
judiciary.
2. The scheme facilitates the issuance of
caste, income, and domicile certificates,
enhancing access to essential
documentation for citizens.
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2. The FICCI Proposal advocated for a
National Planning Commission to oversee 49. With respect to the First Five-Year Plan (1951-
the entire planning process, emphasizing 1956) in the Indian economy, consider the
comprehensive economic growth following statements:
strategies. 1. The Harrod-Domar model primarily served
3. The Bombay Plan, led by industrialists like as the theoretical framework for the
JRD Tata and GD Birla, primarily aimed at formulation of this plan.
nationalizing agriculture and production. 2. Achievement of a growth rate higher than
How many of the above statements are correct? the targeted 2.1 percent was a significant
outcome of this plan.
3. The First Five-Year Plan predominantly
emphasized the augmentation of the
secondary sector over the primary sector.
47. With reference to the economic plans proposed How many of the above statements are correct?
before Indian independence, consider the (a) Only one
following statements:
(b) Only two
1. The Federation of Indian Chambers of (c) All three
Commerce and Industry (FICCI) Proposal
(d) None
aimed to restructure the agrarian structure
by advocating for the abolition of
50. With regard to the Second Five Year Plan
intermediaries and the assurance of
(1956-1961) in the Indian economy, consider
minimal wages for agricultural goods.
2. The National Planning Committee, set up
1. The Mahalanobis model, followed during
by Subhash Chandra Bose, successfully
this plan, emphasized the importance of
prepared comprehensive reports by 1938. agricultural development as the primary
3. The Bombay Plan and the People’s Plan focus for rapid industrialization.
both supported the extensive development 2. The plan aimed to create a closed economy
of heavy capital items and basic industries. to limit dependence on international trade,
How many of the above statements are correct? primarily focusing on domestic capital
(a) Only one (b) Only two goods production.
(c) All three (d) None 3. The plan's actual growth rate surpassed its
targeted goal of 4.5%, achieving a growth
48. Consider the following statements: rate of 5.1%.
1. The Gandhian Plan proposed a Luddite How many of the above statements are correct?
approach towards technology and heavily (a) Only one (b) Only two
relied on foreign capital for its (c) All three (d) None
implementation.
2. The Sarvodaya Plan, influenced by 51. Considering the Third Five-Year Plan (1961-
Gandhian principles, prioritized urban 1966) in the Indian economy, consider the
development over rural development and following statements:
suggested a centralized planning model. 1. The primary focus of this plan was the
3. The Planning Commission, set up post- advancement of agriculture, especially the
independence, was responsible for significant enhancement in wheat
formulating India's Five-Year Plans among production.
other tasks. 2. The initiation of Panchayat elections and
How many of the above statements are correct? the delegation of more development
(a) Only one (b) Only two responsibilities to states contributed to
(c) All three (d) None centralized governance.
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3. The devaluation of the Indian rupee in 54. With reference to the the Sixth Five-Year Plan
1966 marked the first instance of such an in the Indian economy, consider the following
action taken by the Indian government. statements :
How many of the above statements are correct? 1. The plan marked the commencement of
(a) Only one economic liberalization by eliminating
(b) Only two price controls and was considered the end
(c) All three of Nehruvian Socialism.
(d) None 2. The establishment of the National Bank for
Agriculture and Rural Development and
the expansion of family planning were
52. With reference to the Fourth Five-Year Plan in
significant achievements during this
the Indian economy, Consider the following
period.
statements:
3. The plan's success was underscored by the
1. The primary objective of this plan was to
achievement of an actual growth rate of
rectify the increasing concentration of
5.7%, surpassing the targeted growth rate
wealth and economic power prevalent
of 5.2%.
during previous periods.
How many of the above statements are correct?
2. The nationalization of major Indian banks
(a) Only one
and the implementation of the Green
Revolution in agriculture significantly (b) Only two
contributed to the plan's achievements. (c) All three
3. The Fourth Five-Year Plan's growth rate (d) None
exceeded its targeted growth rate,
showcasing its success in achieving higher 55. Consider the following statements concerning
economic growth. the Seventh Five-Year Plan in the Indian
How many of the above statements are correct? economy:
(a) Only one 1. The plan aimed to boost industrial
(b) Only two productivity by emphasizing technological
advancements.
(c) All three
2. The guiding principle of the plan was
(d) None rooted in the principles of growth,
modernization, self-reliance, and social
53. Considering the Fifth Five-Year Plan in the justice.
Indian economy, consider the following 3. Programs initiated during this period
statements : included the launch of Jawahar Rojgar
1. The primary theme of this plan revolved Yojana (JRY) to create wage employment
around the emphasis on employment for rural individuals and reorienting
generation, poverty alleviation (Garibi existing programs like IRDP, CADP, and
Hatao), and the concept of justice. DDP.
2. The rejection of the Fifth Five-Year Plan How many of the above statements are correct?
by the newly elected Morarji Desai (a) Only one
government in 1978 indicated its failure to (b) Only two
address critical economic aspects. (c) All three
3. The plan's overall success was evidenced (d) None
by the achievement of a growth rate
exceeding the targeted rate of 4.4% by 56. With reference to the Eighth Five Year Plan
4.8%. (1992-1997), consider the following statements:
How many of the above statements are correct? 1. Modernization of industries was a central
(a) Only one (b) Only two focus, aligning with corrective measures
(c) All three (d) None for a burgeoning deficit and foreign debt.
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CHAPTER-6: FISCAL POLICY
62. Regarding the Indian budgetary process, 65. Consider the following statements regarding
consider the following statements: different deficits in the Indian economy:
1. Revised Estimate (RE) and Quick Estimate 1. Revenue deficit measures the extent of
(QE) represent the same financial borrowings by the government.
estimates with different names. 2. Effective revenue deficit excludes grants
2. Advance Estimate (AE) is conducted after for State government asset creation from
the final stage when data collection should revenue expenditure.
have occurred. 3. Monetized deficit reflects the part of fiscal
3. The passage of the Finance Bill signifies deficit provided by the RBI to the
the provision of funds required to meet the government.
Demands in the Indian budget enactment How many of the above statements are correct?
stages. (a) Only one
How many of the above statements are correct? (b) Only two
(a) Only one (c) All three
(b) Only two (d) None
(c) All three
(d) None 66. Regarding the deficits in the Indian economy,
consider the following statements:
63. With reference to the components of the Indian 1. Budget deficit is calculated as total
government budget, consider the following revenue minus total expenditure excluding
borrowings.
statements:
2. Fiscal deficit represents the borrowing
1. Capital Budget encompasses both
requirements of the government.
recurring and non-recurring capital
expenditures. 3. Primary deficit includes interest payments,
excluding fiscal operations.
2. Revenue Budget mainly consists of non-
redeemable revenue items and assets.
3. An increase in the government's revenue
expenditure necessarily leads to a decrease (c) All three (d) None
in GDP.
How many of the above statements are correct? 67. With reference to deficit financing in the Indian
economy, consider the following statements:
1. Government bonds serve as a way of
raising funds, ensuring the government
returns the principal amount at maturity.
64. Regarding the Indian government's budget 2. Treasury bills, as short-term debt
components, consider the following statements: instruments, are issued by the government
1. Capital receipts include only debt-creating and purchased by the central bank, causing
borrowings and disinvestment earnings. a decline in the money supply.
2. Revenue receipts solely encompass tax 3. Borrowing from international
revenue items and interest receipts. organizations like the World Bank or IMF
3. Revenue expenditure primarily involves doesn't impact the country's economy in
asset creation and infrastructure the long term.
development. How many of the above statements are correct?
How many of the above statements are correct? (a) Only one (b) Only two
(a) Only one (b) Only two (c) All three (d) None
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68. With reference to the budget in the Indian How many of the above statements are correct?
economy, consider the following statements: (a) Only one (b) Only two
1. During a recession, a government's (c) All three (d) None
reduced tax revenue may contribute to a
surplus budget. 71. With reference to the concept of a Balanced
2. Surplus budgets often occur due to Budget in the Indian economy, consider the
increased government spending on social following statements:
programs and infrastructure. 1. A balanced budget occurs when the
3. A decrease in tax revenue could lead to a government's total revenue exceeds its
deficit budget if the government reduces total expenditure.
taxes. 2. Its significance lies in controlling inflation
How many of the above statements are correct? by allowing the government to pump more
(a) Only one money into the economy than it can
(b) Only two absorb.
(c) All three 3. A balanced budget does not impact
(d) None investor confidence as it signifies the
government's fiscal responsibility.
69. With reference to Zero-based Budgeting in the How many of the above statements are correct?
Indian economy, consider the following (a) Only one (b) Only two
statements: (c) All three (d) None
1. Zero-based budgeting was introduced by
Edward Hilton Young in the USA during
the 1960s. 72. With reference to Gender Budgeting in India,
2. The process involves identifying goals, consider the following statements:
determining necessary activities, and 1. Gender Budget Statement (GBS)
developing alternative budgets based on comprises only one part, reflecting
different funding levels. women-specific schemes with a 100%
3. Zero-based budgeting does not include the allocation for women.
evaluation of budget scenarios based on 2. Gender budgeting allocation in India is
cost-benefit analysis. declining every year is one of the major
How many of the above statements are correct? concern.
(a) Only one 3. Allocations to gender budgeting is the sole
(b) Only two prerogative of ministry of women and
(c) All three child development..
(d) None How many of the above statements are correct?
70. With reference to Outcome-based Budget in the (c) All three (d) None
Indian economy, consider the following
statements: 73. With reference to fiscal consolidation in the
1. Outcome Budget emphasizes allocating Indian economy, consider the following
resources based on expected outcomes of statements:
government programs and services. 1. Fiscal consolidation aims to increase the
2. It is an independent document separated fiscal deficit by boosting revenue and
from the overall budget structure in India. reducing government expenditure.
3. The implementation process of Outcome 2. Enhanced tax administration is a measure
Budgeting in India involves only the employed in fiscal consolidation, aiming to
preparation stage by government expand the tax base and minimize tax
departments. concessions.
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79. With reference to Public Debt, consider the 2. Minimizing the Cost of Borrowing is not a
following statements: primary objective of public debt
1. Sovereign guarantee for loans is management, as market conditions and
exclusively provided by the Centre, portfolio management do not influence
ensuring the repayment of borrowed funds interest rates on government debt.
by states and the Union Government. 3. Debt Sustainability focuses on managing
2. The primary objective of public debt is to the debt-to-GDP ratio and ensuring the
encourage excessive spending among government can meet its debt service
citizens by borrowing money from them. obligations over the long term.
3. The 12th Finance Commission's How many of the above statements are correct?
recommendations allowed states to access (a) Only one (b) Only two
external loans, altering the previous (c) All three (d) None
restriction of borrowing only within the
country. 82. With reference to Central Transfers to States,
How many of the above statements are correct? Consider the following statements:
(a) Only one 1. The share of states in central taxes is
(b) Only two primarily determined based on population,
(c) All three area, fiscal discipline, and development
(d) None indicators, set by the Finance Commission.
2. Discretionary grants provided by the
80. With reference to the concept of Ways and central government give states greater
Means Advances (WMA), consider the control over their allocation for various
following statements: purposes, such as infrastructure
1. WMA is a facility provided by the central development and disaster relief.
bank to both the central and state 3. Recent changes in central transfers include
governments during temporary fiscal the introduction of performance-based
mismatches. incentives and better technology utilization
2. The interest rate on WMA is set lower than for targeting and monitoring schemes.
the prevailing market rates to encourage How many of the above statements are correct?
frequent government reliance on this (a) Only one (b) Only two
facility. (c) All three (d) None
3. The utilization of WMA impacts the
budget by reducing the government's 83. With reference to the Indian economy's budget
borrowing cost and minimizing the fiscal outlook, consider the following statements:
deficit. 1. The estimated GDP growth rate for 2023-
How many of the above statements are correct? 24 is projected to be 10.5% due to real
(a) Only one growth plus inflation.
(b) Only two 2. The targeted fiscal deficit for 2023-24
(c) All three stands at 5.9% of GDP, which is lower
(d) None than the revised estimate of the previous
fiscal year.
81. Regarding the management of Public Debt in 3. Interest expenditure is estimated to be 41%
India, consider the following statements: of the budget in 2023-24.
1. Public debt management aims to maintain How many of the above statements are correct?
fiscal stability by balancing the (a) Only one
government's borrowing and repayment of (b) Only two
debt with its revenue and expenditure (c) All three
patterns. (d) None
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3. Neutral Fiscal Policy denotes government 2. The PDMA's establishment was proposed
spending equivalent to tax revenue. in India via the Finance Bill, 2015.
How many of the above statements are correct? 3. The PDMA's objective primarily revolves
around maximizing profits from
government bonds trading.
(c) All three (d) None How many of the above statements are correct?
91. Consider the following statements: (c) All three (d) None
1. Fiscal Policy, managed by the Ministry of
Finance, regulates the money supply in the 94. In the context of Centrally Sponsored Schemes
economy. (CSS) classifications, consider the following
2. Monetary Policy, can be influenced by statements:
political decisions, focuses on economic 1. Core of the Core CSS have funding
patterns differing for General and Special
growth through tax rates and government
Category states, whereas Core CSS have
spending.
uniform funding patterns for both types of
3. The central bank administers Fiscal Policy, states.
which changes annually, impacting 2. Optional CSS have compulsory
economic stability through interest rates participation of states, with different
and credit ratios. funding patterns for General and Special
How many of the above statements are correct? Category states.
(a) Only one (b) Only two 3. Core of the Core CSS involve schemes like
MGNREGA, National Health Mission, and
(c) All three (d) None National Rural Drinking Water Mission.
92. With reference to fiscal governance, consider (a) Only one (b) Only two
the following statements: (c) All three (d) None
1. The Debt Management and Fiscal
Responsibility Bill, 2017 proposed by the 95. With reference to the restructuring of CSS and
N.K. Singh Committee suggests 30% debt its key features, consider the following
to GDP ratio for both the central and state statements:
governments by 2022-23. 1. Core of the Core schemes are primarily
2. The Fiscal Responsibility and Budget focused on infrastructure development
Management (FRBM) Act allows across all states with a uniform funding
deviations from fiscal deficit targets only pattern.
under extraordinary circumstances like a 2. For Optional Schemes, the expenditure
national calamity, war, or agricultural sharing pattern for 8 North Eastern states
collapse. and 3 Himalayan states is same as other
states, with a 50:50 funding pattern.
Which of the statements given above is/are
3. CSSs will only appear in National
correct?
Development Agenda-identified areas, as
(a) 1 only (b) 2 only decided by the Ministry of Finance in
(c) Both 1 and 2 (d) Neither 1 nor 2 coordination with the Governing Council
of NITI Aayog.
93. Consider the following statements related to the How many of the above statements are correct?
Public Debt Management Agency (PDMA): (a) Only one
1. The PDMA manages both internal and (b) Only two
external liabilities of the Central (c) All three
Government and provides advisory
(d) None
services for a fee.
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3. This act restricts RBI to monitor Financial 103. Consider the statements about Currency
intermediaries like Money Changers, who Convertibility:
are empowered to engage in currency 1. Full Capital Account Convertibility
exchange freely. implies unrestricted conversion of currency
How many of the above statements are correct? for transactions under the Capital Account
(a) Only one (b) Only two of BoP.
(c) All three (d) None 2. RBI permits full Rupee convertibility at
Current Account but restricts the same
101. With reference to RBI's functions as the under Capital Account transactions.
manager of foreign exchange reserves, consider 3. The Liberalized Remittance Scheme (LRS)
the following statements: allows individuals in India to remit up to
1. RBI's investment of foreign exchange $250,000 overseas without any restrictions.
reserves is limited to deposits with How many of the above statements are correct?
international financial institutions and (a) Only one (b) Only two
sovereign debt instruments, as specified in (c) All three (d) None
the RBI Act 1934.
2. Safety, liquidity, and returns constitute the 104. Consider the following statements.
primary parameters guiding RBI's policies 1. The composition of India's foreign
for managing foreign exchange reserves, exchange reserves as of March 2023
ensuring these reserves align with the primarily comprises foreign currency
economy's growth potential and assets.
vulnerability to external shocks. 2. The Sovereign External Debt (SED) of
3. RBI's approach to managing foreign India reduced by more than 5% in 2022-23
exchange reserves does not consider the compared to the 2021-2022.
reserves' adequacy concerning import 3. Managed floating exchange rate systems
cover or potential vulnerabilities, solely involve continuous intervention by central
focusing on optimizing returns. banks to determine the exchange rate.
How many of the above statements are correct? How many of the above statements are correct?
(a) Only one (b) Only two (a) Only one (b) Only two
(c) All three (d) None (c) All three (d) None
102. Consider the statements regarding Balance of 105. With reference to the the Indian economy's
Payments (BoP) and its components: external debt scenario, consider the following
1. Current Account transactions include statements:
visible trade, invisible trade, unilateral 1. The majority of India's external debt is
transfers, and investment income, directly primarily denominated in the country's
affecting a country's foreign assets and own currency.
liabilities.
2. The rise in short-term debt, mainly used
2. Capital Account transactions record for importing goods, poses a threat to
economic transactions between residents economic stability.
and non-residents, specifically altering
3. The fixed currency regime, facilitated by
liabilities within a country and assets
the IMF, determines exchange rates based
abroad.
on a basket of global currencies.
3. BoP surplus or deficit is obtained after
deducting the capital account balance from
(a) Only one
the current account balance.
(b) Only two
(c) All three
(d) None
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3. The Trade Infrastructure for Export 114. With reference to the factors affecting Forex
Scheme (TIES) primarily assists State Reserves, consider the following statements:
Government Agencies in creating suitable 1. The central bank's action of selling dollars
export infrastructure. from the forex reserves aims to primarily
How many of the above statements are correct? curb the free fall of the rupee and diminish
(a) Only one market volatility.
(b) Only two 2. The aggressive policies adopted by the US
Federal Reserve, such as interest rate
(c) All three
hikes, contribute to capital outflows by
(d) None foreign portfolio investors (FPIs) and
consequent valuation losses.
112. With reference to the various currency 3. Decline in gold prices can offset the
classifications, consider the following decrease in foreign exchange reserves,
statements: acting as a mitigating factor against other
1. Hard Currency denotes international adverse impacts on the reserves.
currencies with the highest faith, often How many of the above statements are correct?
represented by nations with diversified (a) Only one (b) Only two
exports and numerous bilateral trade (c) All three (d) None
relations.
2. During an instance of capital flight, a Hard 115. With reference to the exchange rate, consider
Currency is temporarily referred to as a the following statements:
Hot Currency. 1. Under a fixed currency regime, stability in
3. A Heated Currency in an economy occurs the domestic currency's exchange rate is
when the domestic currency faces pressure ensured.
due to the exit of Hard currency. 2. A disadvantage of a fixed currency regime
How many of the above statements are correct? is the possibility of infinite foreign reserve
(a) Only one (b) Only two for maintaining stability.
(c) All three (d) None 3. Most countries have adopted a fixed
currency regime due to its ease in
managing economic fluctuations.
113. In the context of currency classifications in the How many of the above statements are correct?
Indian economy, consider the following (a) Only one (b) Only two
statements:
1. A Soft Currency implies a currency easily
accessible in the foreign exchange market
116. With respect to the implications of currency
of an economy and is typically devaluation, consider the following assertions:
synonymous with a hard currency.
1. Currency devaluation primarily aims to
2. Cheap Currency refers to a situation in reduce trade deficits by making exports
which a government repurchases its bonds cheaper and imports more expensive.
before maturity, resulting in an influx of 2. Competitive devaluation leads to a race
money into the economy during a period of among countries to devalue their
higher interest rates. currencies, often resulting in positive trade
3. Dear Currency signifies the money flowing balances globally.
from the public to the government when 3. Currency devaluation may decrease the
bonds are issued, often during a period of sovereign debt burden, particularly when
relatively lower interest rates. fixed debt payments become less
How many of the above statements are correct? expensive over time.
(a) Only one (b) Only two How many of the above statements are correct?
(c) All three (d) None (a) Only one (b) Only two
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122. Consider the following statements: 125. With reference to the Indian economy, consider
1. Ad Valorem tax is typically expressed as a the following statements:
percentage and is characterized by its 1. The Central Board of Direct Taxes is
progressive nature, while Specific Duty is solely responsible for formulating indirect
presented as fixed sums and exhibits a tax policies in India.
regressive nature. 2. Direct taxes contribute to approximately
2. Ad Valorem tax relies on the value of half of the government's revenue annually.
purchased items, whereas Specific Duty is 3. Examples of direct taxes include sales tax,
imposed based on the volume of units sold. value-added tax (VAT), and customs
3. Ad Valorem taxes, like GST, have multiple duties.
tax rate slabs, while Specific Duty, such as How many of the above statements are correct?
Excise Duty on petrol, is expressed in (a) Only one
specific amounts. (b) Only two
How many of the above statements are correct? (c) All three
(a) Only one (b) Only two (d) None
126. Consider the following statements related to the
123. With reference to cess in the Indian taxation new income tax regime introduced in Budget
system, consider the following statements: 2023-24:
1. A cess is a tax imposed exclusively for 1. The tax rebate under Section 87A of the
specific purposes and is collected in Income Tax Act, 1961 has been increased
addition to the existing taxes. to Rs 7 lakhs from Rs 5 lakhs starting
2. Cess taxes contribute to the Consolidated April 1, 2023.
Fund of India and are anticipated to be 2. The revised tax regime ensures individuals
imposed indefinitely. earning less than ₹7 lakhs will not be liable
3. Cesses such as education cess, Swachh to pay any tax, irrespective of their
Bharat cess, and Krishi Kalyan cess are investments.
examples of taxes imposed only on certain 3. The increase in the tax rebate may result in
categories of taxpayers. a higher disposable income for the middle
How many of the above statements are correct? class, promoting increased spending and
(a) Only one (b) Only two economic growth.
124. With reference to surcharge in Indian taxation, (c) All three (d) None
1. Surcharge is levied on the entire income 127. With reference to Corporate Tax in India,
earned by an individual. consider the following assertions:
2. The surcharge collected contributes 1. MAT (Minimum Alternate Tax) is
directly to the specific sector it is imposed applicable to all companies registered
upon. under the Companies Act 1956.
3. The highest surcharge rate applicable has 2. Taxable income for corporations includes
remained consistent across different revenue minus only the cost of goods sold.
income brackets over the years. 3. General and administrative expenses are
How many of the above statements are correct? not considered while calculating corporate
(a) Only one tax.
(b) Only two How many of the above statements are correct?
(c) All three (a) Only one (b) Only two
(d) None (c) All three (d) None
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134. With respect to Indian economy's taxation 137. Consider the following statements regarding
system, consider the following statements: Dividend Distribution Tax (DDT) in India:
1. GST replaced the sales tax, which was 1. Dividends received by shareholders are
previously levied solely by the state treated as taxable income as per the
governments. Income Tax Act.
2. Excise duty, excluding alcoholic drinks 2. DDT was initially introduced in 1997 and
and narcotics, has been explicitly imposed regulated under Section 115 O of the
by the central government. Income Tax Act.
3. CGST has replaced the excise duty tax 3. The Finance Minister eliminated the
structure in India. Dividend Distribution Tax in Budget 2020,
How many of the above statements are correct? transferring the tax burden from
(a) Only one corporations to individuals.
(b) Only two How many of the above statements are correct?
(c) All three (a) Only one
(d) None (b) Only two
(c) All three
135. Consider the following statements regarding (d) None
Sales Tax and Excise Duty:
1. Sales tax in India is levied only by the 138. With reference to the Goods and Service Tax
central government. (GST) in India, consider the following
2. Excise duty is imposed on the sale of statements:
commodities rather than their 1. GST is levied only at the final
manufacturing. consumption stage, and no taxes are
3. Both Sales Tax and Excise Duty have been imposed during the manufacturing process.
replaced by IGST and CGST, respectively. 2. Integrated GST (IGST) is administered by
How many of the above statements are correct? the states and union territories (UTs) of
(a) Only one India.
(b) Only two 3. The dual GST system in India adheres to
the Constitution's principle of fiscal
(c) All three
federalism.
(d) None
136. With reference to taxation in India, consider the
1. Service Tax in India initially encompassed
taxes only on telephone services, general 139. With reference to the Goods and Services Tax
insurance, and stockbroking in 1994-95. Network (GSTN), consider the following
statements:
2. Value Added Tax (VAT) in India is
imposed uniformly on commodities across 1. GSTN is solely owned and operated by the
all states and union territories. Central and State governments of India.
3. The Goods and Services Tax (GST) 2. LIC Housing Finance has the highest stake
replaced the Service Tax, maintaining the among the financial institutions in GSTN.
same tax rate of 15%. 3. GSTN is designed to provide technological
How many of the above statements are correct? advice only to the Central government.
(a) Only one How many of the above statements are correct?
(b) Only two (a) Only one
(c) All three (b) Only two
(d) None (c) All three
(d) None
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3. The MPC, comprising six members, has 3. OMOs are solely used by RBI to control
the authority to decide the repo rate inflation in the economy.
exclusively. How many of the above statements are correct?
149. Consider the following assertions about Market
146. Considering the following statements: Stabilization Scheme (MSS):
1. The MPC comprises six members, with 1. MSS is a monetary tool introduced to
three appointed by the RBI and three by boost capital inflows into the country.
the Government of India. 2. MSS is primarily utilized by RBI to absorb
2. The MPC's decision-making authority surplus liquidity resulting from large
capital inflows.
extends to determining the reverse repo
rate, CRR, and SLR. 3. MSS aims to reduce interest payments
made by the government to financial
3. In case of a tie in voting, the RBI Governor
institutions.
holds the casting vote to break the
deadlock.
150. Regarding the relationship between sterilization
and capital flows, consider the following
147. consider the following statements: statements:
1. SDF (Standing Deposit Facility) allows 1. Sterilization aims to reduce the outflow of
banks to borrow unlimited amounts at the capital from the economy.
repo rate. 2. Sterilization involves measures to
2. MSF (Marginal Standing Facility) permits counteract the impact of capital inflows on
banks to borrow additional overnight funds the domestic monetary base.
beyond the repo rate by using SLR 3. Sterilization processes do not impact the
securities as collateral. exchange rates of a country.
3. LTRO (Long Term Repo Operation) is How many of the above statements are correct?
exclusively conducted at a rate higher than (a) Only one (b) Only two
the repo rate, decided solely by RBI (c) All three (d) None
auctions.
How many of the above statements are correct 151. Consider the following statements regarding the
(a) Only one (b) Only two objectives of Monetary Policy:
(c) All three (d) None 1. Expansionary monetary policy aims to
decrease the money supply to control
inflation.
148. With reference to Open Market Operations
(OMO) in the Indian economy, consider the 2. Contractionary monetary policy focuses on
following statements: increasing money supply to stimulate
economic growth.
1. Outright OMOs are permanent in nature
and do not involve any agreement for 3. Monetary policy aims to maintain price
future sale/purchase of securities. stability and promote sustainable economic
growth.
2. LAF (Liquidity Adjustment Facility)
OMOs involve agreements specifying the How many of the above statements are correct?
date and price for the resale/repurchase of (a) Only one (b) Only two
securities. (c) All three (d) None
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3. CPI - Rural focuses solely on the price 160. Consider the following statements concerning
changes of food items consumed by the Disinflation and its implications:
rural population. 1. Disinflation signifies a situation where
How many of the above statements are correct? inflation is rising continuously, albeit at a
(a) Only one decreasing rate.
2. Disinflation might indicate positive
(b) Only two
inflation in the economy, though the
(c) All three inflation rate is declining over time.
(d) None 3. Economic recession generally results in
high inflation due to increased demand and
158. Consider the following statements regarding the production limitations.
Wholesale Price Index (WPI: How many of the above statements are correct?
1. WPI's base year remains constant, and (a) Only one (b) Only two
weights assigned to items in its basket (c) All three (d) None
change periodically with shifts in
consumption patterns. 161. Consider the statements related to the Phillips
Curve and its implications:
2. WPI includes the prices of services along
1. The Phillips Curve suggests an inverse
with goods in its measurement, unlike the
relationship between inflation and
Consumer Price Index (CPI). unemployment, where higher inflation
3. WPI computes weights for its basket items corresponds to higher unemployment.
based on the net production value of goods 2. According to the Phillips Curve, economic
and services. growth leads to higher inflation and
How many of the above statements are correct? reduced unemployment due to increased
(a) Only one wages.
(b) Only two 3. Stagflation in the 1970s contradicted the
implications of the Phillips Curve,
(c) All three showcasing simultaneous high levels of
(d) None both inflation and unemployment.
159. Consider the following statements about (a) Only one (b) Only two
Inflation and its impacts: (c) All three (d) None
1. Galloping Inflation signifies prices rising
at a steady single-digit annual rate, 162. Consider the following statements about the
resulting in increased confidence in long- impact of Deflation on borrowing and economic
term contracts and banking investments. growth:
2. Demand Pull Inflation primarily occurs 1. Deflation encourages increased borrowing
and investment due to lower prices,
due to excessive demand in an expanding
stimulating economic growth.
economy, often caused by the
2. When prices decline (deflation),
overexpansion of the money supply and individuals are more inclined to postpone
increased government spending. purchases, leading to decreased demand
3. Deflation leads to increased borrowing and and economic slowdown.
investment, stimulating economic growth 3. Deflationary periods promote higher
due to lower prices. borrowing, fostering robust economic
How many of the above statements are correct? expansion due to increased consumer
confidence.
(a) Only one
(b) Only two
(c) All three
(d) None
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168. Consider the following statements: Which one of the following is correct in respect
Statement-I: The "SMILE" Scheme is related of the above statements?
to offering temporary shelter homes for (a) Both Statement-I and Statement-II are
individuals engaged in begging. correct and Statement-II is the correct
Statement-II: The Census 2011 data indicates explanation for Statement-I
an increase in the number of beggars across (b) Both Statement-I and Statement-II are
Indian states and union territories. correct and Statement-II is not the correct
Which one of the following is correct in respect explanation for Statement-I
of the above statements? (c) Statement-I is correct but Statement-II is
(a) Both Statement-I and Statement-II are incorrect
correct, and Statement-II is the correct
(d) Statement-I is incorrect but Statement-II is
explanation for Statement-I
correct
(b) Both Statement-I and Statement-II are
correct, and Statement-II is not the correct
explanation for Statement-I 171. Consider the following statements based on the
(c) Statement-I is correct, but Statement-II is recent unemployment trends:
incorrect Statement-I: There is a decline in the national
(d) Statement-I is incorrect, but Statement-II is graduate unemployment rate from
correct approximately 15% to 13% in 2022-23.
Statement-II: The unemployment rate has
169. Consider the following pairs: declined due to various government measures.
Skill Description Which one of the following is correct in respect
Development of the above statements?
Initiatives (a) Both Statement-I and Statement-II are
1. Pradhan Mantri - Offers free online correct and Statement-II is the correct
Kaushal Vikascareer skills explanation for Statement-I
Yojana 3.0 training (b) Both Statement-I and Statement-II are
2. National Career - Focuses on correct and Statement-II is not the correct
Service Project district-level explanation for Statement-I
skilling (c) Statement-I is correct but Statement-II is
ecosystem incorrect
3. SANKALP - Recognizes skill
(d) Statement-I is incorrect but Statement-II is
trainers
correct
How many of the above pairs are correctly
matched?
(a) Only one pair (b) Only two pairs 172. Consider the following statements about
(c) All three pairs (d) None of the pairs Periodic Labour Force Survey data released for
the period of 2022-23:
170. Consider the following statements: 1. The decrease in unemployment rate in
Statement-I: The Industrial Employment rural areas is greater than in urban areas.
(Standing Orders) Central (Amendment) Rules, 2. The decrease in unemployment rate for
2018, permit the conversion of existing male is higher than female.
permanent workmen into fixed-term Which of the statements given above is/are
employment based on the contract duration. correct?
Statement-II: Fixed-term employees under the (a) 1 only
amended rules are entitled to full statutory (b) 2 only
benefits equivalent to those of permanent (c) Both 1 and 2
workmen, regardless of the employment
(d) Neither 1 nor 2
duration.
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while fixed deposit accounts have fixed 2. All public and private sector Scheduled
tenures with no possibility of premature Commercial Banks can act as Agent Banks
withdrawals. of RBI for government-related business,
How many of the above statements are correct? following the recent lifting of the embargo.
(a) Only one (b) Only two 3. RBI does not maintain accounts for various
(c) All three (d) None government funds like the Consolidated
Fund or Public Account, delegating this
responsibility solely to the respective state
178. Consider the following statements:
governments.
1. FCNR accounts accept deposits only in
Indian Rupee and offer tax-exempted
interest and principal. (a) Only one (b) Only two
2. NRE accounts allow maintenance in Rupee (c) All three (d) None
across various deposit types and permit
tax-free repatriation. 181. consider the following statements:
3. NRO accounts facilitate Rupee-based 1. RBI has complete authority to supersede
deposits with taxable interest and principal, the Board of Directors of NBFCs in case of
allowing unrestricted repatriation of funds. mismanagement or default, similar to its
How many of the above statements are correct? powers over commercial banks.
(a) Only one (b) Only two 2. The RBI Act was amended in 2019,
(c) All three (d) None granting RBI the authority to supersede the
Board of Directors of NBFCs and appoint
administrators in the public interest.
179. With reference to the functions of the Reserve
3. The regulatory oversight of NBFCs falls
Bank of India (RBI) in regulating commercial
solely under the purview of the respective
banks, consider the following statements:
state governments, without any
1. RBI regulates the interest rate on most
involvement or supervision from RBI.
categories of deposits and lending but does
not intervene in determining the interest
rate on NRI deposits or export credits. (a) Only one (b) Only two
2. RBI prescribes prudential norms for banks (c) All three (d) None
including asset classification, income
recognition, provisioning, and capital 182. Referring to the functions of the Reserve Bank
adequacy, and oversees the Know Your of India (RBI), consider the following
Customer (KYC) exercise. statements:
3. RBI has the authority to supersede the 1. RBI, as the overseer of payment and
Board of Directors of Public Sector Banks settlement systems, exclusively permits
(PSBs) and can force a merger or trigger licensed banks to establish currency chests
liquidation in certain circumstances. for storing banknotes and coins.
How many of the above statements are correct? 2. The RBI's developmental role involves
(a) Only one (b) Only two facilitating credit to productive sectors,
(c) All three (d) None building financial infrastructure, and
expanding access to affordable financial
services.
180. Regarding RBI's functions as the banker to
3. Under the RBI's oversight of payment
Central and State governments, consider the
systems, non-bank entities are not
permitted access to operate payment
1. RBI provides "Ways and Means
systems unless authorized by RBI.
Advances" (WMA) as a temporary loan
facility to the government, and the interest
rate for WMA is higher than the repo rate. (a) Only one (b) Only two
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2. Under the MCLR framework, banks' How many of the above statements are correct?
lending rates are linked to the average cost (a) Only one (b) Only two
of deposits, impacting the speed and extent (c) All three (d) None
of interest rate adjustments.
3. RBI mandated banks to link new floating 191. Regarding the Indian monetary policy
rate personal or retail loans and floating
transmission, consider the following statements:
rate loans to MSMEs to an external
1. The change from the Base Rate system to
benchmark, ensuring faster transmission of
policy rates. the MCLR framework aimed at increasing
the uniformity of lending rates among
different banks.
(a) Only one
2. MCLR-based lending rates can be altered
(b) Only two
based on changes in operational costs and
(c) All three return on net worth, allowing banks to
(d) None adjust lending rates frequently.
3. RBI's directive to link loans to an external
189. Regarding the transmission of Repo Rate into benchmark aimed primarily at minimizing
Lending Rate in India, consider the following the influence of credit risk premiums on
statements: lending rates.
1. The Base Rate system, introduced in 2010, How many of the above statements are correct?
ensured that lending rates were set at the
bank's discretion.
2. MCLR is determined w.r.t to factors such
as the average cost of funds, operational
costs, and return on net worth, promoting 192. Consider the following statements regarding the
uniformity across banks. Prompt Corrective Action (PCA) framework:
3. The linkage of lending rates to external 1. PCA triggers actions based on regulatory
benchmarks aimed to reduce the influence thresholds concerning Capital Adequacy
of credit risk premium on interest rates for Ratio, Asset Quality (NPA), and Leverage.
borrowers. 2. Under PCA, RBI can intervene by taking
How many of the above statements are correct? actions like restricting branch expansion,
(a) Only one (b) Only two capping management compensation, and
(c) All three (d) None even stopping lending in extreme cases.
3. PCA aims to limit banks from routine
190. With reference to the Indian financial system's operations, constraining their general
monetary policy transmission, consider the activities, such as lending and depositing,
following statements: for the public.
1. An increase in the Repo Rate by RBI How many of the above statements are correct?
directly impacts the Reverse Repo Rate, (a) Only one (b) Only two
leading to immediate adjustments in (c) All three (d) None
lending rates across banks.
2. The transmission of policy rate changes 193. Consider the following statements:
involves the money market initially, 1. Cooperative banks in India operate solely
followed by subsequent impacts on other
under the regulation of the Reserve Bank
markets like the bond market and bank
of India (RBI) for all administrative
loan market.
functions.
3. MCLR aims to improve the transparency
2. The ownership structure of RRBs includes
of the lending rate determination process
the Central Government, State
by incorporating only the marginal cost of
Government, and Private Sector Banks.
funds as a determining factor.
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3. Cooperative banks in India operate with 2. Net Stable Funding Requirement (NSFR)
the primary objective of promoting rural mandates banks to possess enough stable
credit and financing agricultural activities. funding to cover the duration of their long-
How many of the above statements are correct? term assets, maintaining a ratio of 100% to
meet this obligation.
3. The Capital Conservation Buffer, set at
(c) All three (d) None 2.5%, allows banks to maintain a reserve
to absorb losses during periods of financial
194. Consider the following statements: stress, ensuring continual operation.
1. Cooperative banks are exclusively owned How many of the above statements are correct?
by the Central Government. (a) Only one (b) Only two
2. RRBs are mandated to allocate 60% of (c) All three (d) None
their total outstanding towards Priority
Sector Lending (PSL). 197. With reference to the classification of Non-
3. Cooperative banks operate solely in Performing Assets (NPAs), consider the
accordance with the directives of the following statements:
Reserve Bank of India (RBI). 1. Sub-Standard Assets are loans that are
overdue for more than 1 year.
2. Doubtful Assets are loans overdue for
(a) Only one (b) Only two more than 90 days but less than 1 year as
(c) All three (d) None per RBI classification.
3. Stressed assets encompass NPAs,
195. With reference to the banking system and risk restructured loans, and written off assets.
management, consider the following statements: How many of the above statements are correct?
1. Tier 1 Capital primarily comprises a bank's (a) Only one (b) Only two
core capital essential to absorb losses (c) All three (d) None
without stopping operations.
2. Risk Weighted Assets (RWA) are 198. With reference to Special Mention Accounts
computed by assigning differing weights (SMAs), consider the following statements:
based on credit, market, and operational 1. SMA-1 categorizes accounts where
risks associated with various types of loans principal or interest payments are overdue
and operations. for 31-60 days.
3. Capital Adequacy Ratio (CAR) evaluates a 2. SMA-2 classifies accounts with payments
bank's available capital in relation to its overdue between 61-90 days, signaling
potential NPA transformation.
risk-weighted credit exposure to safeguard
depositors and enhance financial system 3. SMA-0 includes accounts with payment
stability. not overdue for more than 30 days but
showing signs of incipient stress.
196. In the context of banking regulations in the

Indian economy, consider the following
1. A Wilful Defaulter includes scenarios
statements:
where units defaulted despite having the
1. Liquidity Coverage Ratio (LCR)
capacity to repay or misusing funds.
determines the proportion of highly liquid
2. Fugitive Economic Offender refers to
assets held by financial institutions,
individuals evading criminal prosecution
ensuring their capability to meet short-term
abroad with offenses valued at over Rs.
obligations over a 30-day stress period.
100 crores.
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205. With reference to the Financial Stability and 3. The Jan Dhan Darshak App offers services
Development Council (FSDC), consider the like locating bank branches, ATMs, and
following statements: Bank Mitras, enhancing accessibility to
1. The FSDC Sub-committee, chaired by the banking facilities.
Governor of RBI, convenes more How many of the above statements are correct?
frequently than the FSDC and has different (a) Only one
members. (b) Only two
2. The Technical Group on financial (c) All three
inclusion and financial literacy is chaired (d) None
by the Deputy Governor of RBI
responsible for financial stability.
208. With reference to the mechanisms for
3. The Inter Regulatory Forum for
addressing Non-Performing Assets (NPAs),
monitoring financial conglomerates is
headed by the Secretary of the Department
1. Bad Bank primarily focuses on generating
of Economic Affairs.
profits through the purchase and sale of
NPAs from commercial banks.
(a) Only one
2. Asset Reconstruction Companies (ARCs)
(b) Only two are regulated by the RBI.
(c) All three 3. A Bad Bank aims to free up capital for
(d) None banks by taking over NPAs, whereas
ARCs primarily concentrate on
206. With the reference to the FSDC, Consider the consolidating NPAs for efficient
following statements: management and resolution.
1. The FSDC Sub-committee exclusively How many of the above statements are correct?
comprises the heads of financial sector (a) Only one
regulators. (b) Only two
2. The Early Warning Group coordinates (c) All three
responses during crisis situations, chaired (d) None
by a Deputy Governor of RBI.
3. The Macro Financial and Monitoring
209. Regarding Advance Pricing Agreements
Group also aims at assessing
(APAs) in India's tax system, consider the
microeconomic indicators.
1. APAs, established under the Income-tax
(a) Only one Act, 1961, are solely unilateral agreements
(b) Only two between a taxpayer and the tax authority of
(c) All three their country.
(d) None 2. Bilateral APAs (BAPA) involve the
taxpayer, associated enterprises in foreign
207. With regard to the Pradhan Mantri Jan Dhan countries, and both tax authorities.
Yojana (PMJDY), consider the following 3. Multilateral APAs (MAPA) encompass the
statements: taxpayer, multiple associated enterprises in
1. The PMJDY emphasizes an exclusive different countries, and tax authorities of
focus on 'Every Unbanked Adult' rather all involved countries.
than 'Every Household'. How many of the above statements are correct?
2. RuPay cardholders under PMJDY accounts (a) Only one
opened after August 28, 2018, benefit from (b) Only two
an increased free accidental insurance (c) All three
cover of Rs. 2 lakh. (d) None
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2. The expense and complexity associated 218. With reference to the Money Market, consider
with public offering procedures have led the following statements:
corporates to favor borrowing from banks 1. Certificate of Deposits (CDs) are primarily
or resorting to private placements for issued by non-banking financial companies
issuing bonds. (NBFCs).
3. The absence of robust bankruptcy laws 2. Commercial Paper (CP) can have a
historically hindered investor protection, maturity period ranging from seven days to
contributing to the sluggish growth of the five years.
corporate bond market. 3. Call money transactions involve funds
How many of the above statements are correct? transacted for a period of fewer than three
(a) Only one (b) Only two days.
216. Consider the following statements: (c) All three (d) None
1. Financial market development often leads
to increased economic stability and 219. With reference to Call/Notice Money in the
reduces the dependency on investments. money market, consider the following
2. A robust banking system facilitates credit statements:
availability, encouraging investment and 1. These transactions occur for a period
economic growth. ranging from one day to one month.
3. Stringent banking regulations hinder 2. Call money transactions are secured
financial market growth but encourage financial instruments.
diverse investment options. 3. Mutual funds are not participants in
How many of the above statements are correct? Call/Notice Money transactions.
(a) Only one How many of the above statements are correct?
(b) Only two (a) Only one
(c) All three (b) Only two
(d) None (c) All three
(d) None
217. With reference to money and banking in the
Indian economy, consider the following 220. Consider the following statement related to
statements: Systemically Important Financial Institutions:
1. Equity securities (stock/shares) grant 1. Systemically Important Institutions, due to
holders ownership in a company and their size and interconnectedness, can
entitle them to dividends and capital gains. potentially cause significant disruptions in
2. Debt securities represent borrowed money, essential services and overall economic
providing interest payments and repayment activity if they fail.
of principal to holders. 2. These institutions, termed "Too Big to
3. When investors purchase debt securities, Fail," may receive government support
they receive a share in ownership of the during distress, leading to reduced market
company, yielding profits based on discipline and increased risk-taking
company performance. behavior.
How many of the above statements are correct? Which among the above statements are correct?
(a) Only one (a) 1 only
(b) Only two (b) 2 only
(c) Only three (c) Both 1 & 2
(d) None (d) None
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227. Consider the following statements about Forex 229. Consider the statements concerning Nominal
Swaps: and Real Interest Rates:
1. RBI's forex swap operations aim to 1. Nominal Interest Rate reflects the inflation
decrease the money supply in the rate in addition to the Real Interest Rate,
economy. determining effective earnings for
2. Forex swaps involve the exchange of depositors.
currencies at the prevailing market rate 2. Real Interest Rate is calculated by
without reference to future exchange rate subtracting the inflation rate from the
expectations. Nominal Interest Rate.
3. Forex swaps are primarily conducted to 3. If the Nominal Interest Rate offered by
mitigate liquidity risks and impact lending banks is lower than the prevailing inflation
rates positively. rate, individuals prefer keeping money in
How many of the above statements are correct? bank deposits.
228. Consider the following statements regarding the
Strategic Disinvestment of Public Sector 230. Consider the statements concerning Liquidity
Undertakings (PSUs): Trap and Nominal Interest Rates:
1. Strategic Disinvestment involves selling up 1. A Liquidity Trap occurs when the Nominal
to 50% or a higher percentage of the Interest Rate is higher than the Real
Government's shareholding in a CPSE Interest Rate, discouraging individuals
along with the transfer of management from investing in bank deposits.
control.
2. Nominal Interest Rate represents the Real
2. Other Government organizations or State
Interest Rate minus the inflation rate,
Governments are allowed to participate in
indicating the actual return on bank
the bidding process for strategic
deposits.
disinvestment to enhance competitiveness
in the market. 3. Liquidity Trap arises when individuals
3. The Department of Investment and Public prefer holding cash rather than investing in
Asset Management (DIPAM) solely bank deposits despite low Nominal Interest
identifies PSUs for strategic disinvestment Rates.
without the involvement of NITI Aayog. How many of the above statements are correct?
CHAPTER-14: DIGITAL PAYMENTS

231. Consider the following statements regarding e- 3. E-RUPI vouchers can be redeemed without
RUPI: a card, digital payments app or internet
1. E-RUPI can be redeemed only at specific banking access.
centres and is powered by NPCI’s UPI How many of the above statements are correct?
platform. (a) Only one
2. It is person-specific and purpose-specific, (b) Only two
aiming to plug loopholes in existing (c) All three
welfare payment systems. (d) None
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3. Positive Pay system is utilized for the 240. Consider the following statements regarding the
clearance of cheques, ensuring enhanced BHIM App:
security and fraud prevention. 1. BHIM App enables only person-to-person
How many of the above statements are correct? fund transfers using UPI and does not
(a) Only one facilitate bill payments or ticket bookings.
(b) Only two 2. BHIM App allows users to execute various
tasks, including paying bills on merchant
(c) All three
websites, booking flight tickets, and
(d) None initiating mobile recharges.
3. BHIM App operates exclusively through
238. Consider the following statements associated scanning QR codes for making payments
with the Unified Payments Interface (UPI): and does not support direct fund transfers.
1. UPI facilitates instant fund transfers via How many of the above statements are
various channels, including Virtual IDs, incorrect?
account numbers & IFSC, and Aadhaar (a) Only one (b) Only two
numbers. (c) All three (d) None
2. UPI transactions necessitate the
registration of beneficiaries for fund 241. Consider the following statements about
transfers through different identification Aadhaar Enabled Payment System (AePS) and
methods. EMV Cards:
3. UPI 2.0 includes features such as linking 1. AePS allows transactions using Aadhaar
overdraft accounts, initiating one-time authentication and requires the user's
mandates, and reinforcing security through fingerprint during enrolment.
QR codes. 2. EMV chip cards store user data on the
How many of the above statements are correct? magnetic stripe, similar to magnetic stripe
(a) Only one (b) Only two cards, making them vulnerable to
skimming.
Which of the statements given above is/are
correct?
239. Consider the following statements related to (a) 1 only (b) 2 only
UPI 123 PAY:
(c) Both 1 and 2 (d) Neither 1 nor 2
1. UPI 123 PAY is a platform developed by
NPCI only for feature phone users,
allowing transactions without internet ______
connectivity.
2. To register for UPI 123 PAY, users need to
link their bank account and create a UPI
PIN using their last 6 digits of the Debit
Card.
3. UPI 123 PAY transactions have a per
transaction limit of Rs. 10,000 and a per
day limit of Rs. 2 lakhs.
(a) Only one
(b) Only two
(c) All three
(d) None
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247. With respect to the Industrial Policy Resolutions How many of the above statements are correct?
of 1985, consider the following statements: (a) Only one (b) Only two
1. The increase in foreign investment allowed (c) All three (d) None
up to 49% equity holding by MNCs in
Indian subsidiaries. 250. With reference to the Public Sector
2. The revision of the MRTP limit to ₹100 Undertakings (PSUs), consider the following
crore aimed to support smaller companies' statements:
growth. 1. Financial Institutions among PSUs
3. The simplification of industrial licensing primarily offer banking and insurance
reduced the compulsory licensing to only a services, enhancing financial inclusion to
few industries. remote areas.
How many of the above statements are correct? 2. PSUs can be established by the central
(a) Only one government and not the state government.
(b) Only two 3. These PSUs have been formed with the
(c) All three sole purpose of benefiting the public.
248. With respect to the Industrial Policy Resolutions (c) All three (d) None
of 1985, consider the following statements:
1. The emphasis on sunrise industries such as 251. With reference to the New Industrial Policy of
electronics and telecommunications aimed 1991 in India, consider the following
to stimulate existing sectors. statements:
2. The policies under FERA permitted 1. FEMA came into effect with a two-year
relaxed norms for foreign exchange use, sunset clause starting in 2000–01.
targeting domestic technological 2. The replacement of FERA with FEMA did
enhancement. not bring any significant changes to
3. The government's attention towards the foreign exchange regulations.
agriculture sector was predominantly Which of the statements given above is/are
regulatory in nature. correct?
How many of the above statements are correct? (a) 1 only (b) 2 only
(a) Only one (c) Both 1 and 2 (d) Neither 1 nor 2
(b) Only two
(c) All three 252. With reference to the New Industrial Policy of
(d) None 1991 in India, consider the following
statements:
249. With reference to the New Industrial Policy of 1. The policy continued exclusive reservation
1991 in India, consider the following for the public sector in arms and
statements: ammunition.
1. The de-reservation of sectors exclusively 2. Presently, only two sectors are exclusively
for the public sector was extended to more reserved for the public sector according to
than five core areas. the policy.
2. The government completely abolished 3. The reservation for the public sector was
industrial licensing for all sectors, except completely lifted for all industries.
for those related to security and How many of the above statements are correct?
environmental concerns. (a) Only one
3. The amendment in the MRTP Act led to (b) Only two
the complete removal of dominant (c) All three
undertakings’ threshold limits.
(d) None
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259. Consider the following statements: 262. With reference to the Make in India initiative,
1. Offer for Sale (OFS) involves auctioning consider the following statements:
PSU shares on a stock exchange platform. 1. It aims to increase the manufacturing
2. Institutional Placement Programme (IPP) sector’s contribution to 25% of the GDP
allows selected financial institutions like by 2022.
mutual funds to participate in stake 2. It Targeted the creation of 100 million
offerings. additional jobs in the manufacturing sector
3. CPSE ETF enables the government to by 2022.
monetize its shareholding in various PSUs 3. It Aims to reduce dependency on the
through diverse sector offerings. service sector for employment generation.
How many of the above statements are How many of the above statements are correct?
incorrect? (a) Only one (b) Only two
(a) Only one (c) All three (d) None
(b) Only two
(c) All three
263. With reference to Special Economic Zones
(d) None (SEZs) in India, consider the following
statements:
260. Consider the following statements: 1. The establishment of SEZs in India under
1. The term 'disinvestment' was introduced the Foreign Trade Policy aimed to address
for the first time in the Indian economic is challenges faced by Export Processing
through the Interim Budget of 1991. Zones (EPZs).
2. The Rangarajan committee, established in 2. The Special Economic Zones Act was
1993, advocated a disinvestment approach. enforced in 2005, alongside the SEZ Rules
3. The creation of the Department of in 2006, marking the beginning of SEZ
Disinvestment in 1999 eventually led to its operations in India.
closure in 2004, integrating it into the
3. Baba Kalyani committee recommendations
Finance Ministry.
focused on maximizing capacity utilization
How many of the above statements are correct? in SEZs.
(a) Only one 4. India is the first country in the world to
(b) Only two have SEZ scheme for production
(c) All three incentivising export promotion industrial
(d) None region.
261. With reference to the Make in India initiative, (a) Only one (b) Only two
consider the following statements: (c) Only three (d) All Four
1. The National Single Window System
(NSWS) integrates approval systems from
various Ministries/Departments to simplify
Indian Defence Industrial Corridors:
business clearance.
1. Defence corridors aim to enhance the
2. Gati Shakti focuses solely on improving
operational capability of the defence
railway connectivity to support the
manufacturing sectors. forces.
3. One-District-One-Product (ODOP) 2. 100 % FDI is allowed in Defence sector
primarily emphasizes the global marketing for industrial set up by foreign country in
of locally made indigenous products. this corridor.
How many of the above statements are correct? 3. Uttar Pradesh corridor has nodes like
(a) Only one (b) Only two Aligarh, Agra, Kanpur, Chitrakoot, Jhansi,
and Lucknow.
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How many of the above statements are correct? How many of the above statements are correct?
(a) Only one (a) Only one (b) Only two
(b) Only two (c) All three (d) None
(c) All three
(d) None 273. Consider the following statements related the
Port of Vadhavan
270. Which of the following statements regarding the 1. It will operate under the lessee model with
Sagarmala Project is/are correct? little equity participation from Jawaharlal
1. One of the aims of the Sagarmala project Nehru Port Trust (JNPT).
is skill development of the community 2. The expansion of this port aims to position
living around the coastal region. India among the top ten container ports
2. One of the components of the Sagarmala globally.
Programme includes creating Coastal 3. Port Vadhavan's principal purpose is to
Economic Zones. handle inland waterway cargo exclusively.
3. The Sagarmala Project does not involve How many of the above statements are correct?
efforts towards enhancing connectivity of (a) Only one (b) Only two
ports to the hinterland which is under (c) All three (d) None
Bharatmala project.
How many of the above statements are 274. Consider the following statements related to the
incorrect? Port of Paradip:
(a) Only one (b) Only two 1. It was the last major port to open on India's
(c) All three (d) None East Coast post-independence.
2. The port is strategically positioned at the
271. Consider the following statements related to the confluence of the Mahanadi River and the
Parvatamala scheme under the National Gulf of Bengal.
Ropeways Development Programme? Which of the statements given above is/are
1. Emphasis of the Parvatmala project is to correct?
develop connectivity to enhance industrial (a) 1 only (b) 2 only
activity for employment generation in the (c) Both 1 and 2 (d) Neither 1 nor 2
region..
2. Most of the project is operated by the 275. Consider the following statements regarding
Ministry of Railways and tracked by PM- Kisan Rail:
GATI SHAKTI programme.
1. Under the scheme Kisan rail, Ministry of
3. Focus on ecologically sustainable Agriculture will provide subsidies to
alternatives in difficult hilly areas. farmer for transport of produce via
How many of the above statements are correct? railway.
(a) Only one (b) Only two 2. Kisan Rail operates on a scheduled
(c) All three (d) None stoppage time for efficient loading and
unloading.
272. Consider the following statements related to the 3. The payment of consignment cost is based
Port of Kolkata: on the weight measured using the Parcel
1. Primarily operating on the western bank of Scale.
the river Hooghly. How many of the above statements are correct?
2. Established by the British East India (a) Only one
Company and the oldest functioning port (b) Only two
in India. (c) All three
3. Notably recognized for being India's (d) None
largest container port.
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282. With reference to infrastructure development How many of the above statements are correct?
models in India, consider the following (a) Only one (b) Only two
statements: (c) All three (d) None
1. Build-Operate-Lease-Transfer (BOLT)
involves the government leasing a facility
285. With respect to government efforts to boost
from a private entity.
solar manufacturing, consider the following
2. Design-Build-Operate-Transfer (DBFOT) statements:
model places all project responsibilities on
1. India allows 100% foreign investment via
the government.
automatic route in solar power
3. Lease-Develop-Operate (LDO) mainly manufacturing.
involves private ownership of newly
2. Foreign investors are encouraged to
developed infrastructure.
establish solar power plants under the
BOOT (build-own-operate-transfer)
(a) Only one (b) Only two model.
(c) All three (d) None 3. There is no safeguard duty imposed on
imports of solar equipment.
283. With reference to infrastructure development How many of the above statements are correct?
models in India, consider the following
statements:
1. Engineering, Procurement, and
Construction (EPC) necessitate private
entities to oversee toll collection and road 286. Regarding the National Land Monetization
ownership. Corporation (NLMC), consider the following
2. Build-Operate-Transfer (BOT) always statements:
leads to ownership transfer back to the 1. The primary aim of NLMC is to facilitate
public sector. the sale and lease of surplus land and
3. Build-Own-Operate (BOO) often involves building assets owned by government
mutually agreed goods and services entities and PSUs to generate capital.
purchase by the public sector. 2. NLMC's establishment was announced in
How many of the above statements are correct? the Budget speech 2021-22 and
(a) Only one (b) Only two subsequently set up to oversee core asset
(c) All three (d) None monetization.
3. The NLMC will solely focus on advising
private sector entities in identifying their
284. With reference to Bibek Debroy Committee's
surplus non-core assets for monetization.
recommendations, consider the following
statements: How many of the above statements are correct?
1. Implementing the Bibek Debroy (a) Only one
Committee's suggestion to rationalize fare (b) Only two
structures and subsidies in the railways (c) All three
aims to enhance the competitiveness of (d) None
freight tariffs, potentially shifting modal
shares from road to rail transportation. 287. With reference to the National Land
2. The absence of an Independent Regulator Monetization Corporation (NLMC), consider
for Railways may impede the goal of the following statements:
ensuring a market-determined and
1. The National Land Monetization
competitive tariff system.
Corporation (NLMC) was set up with an
3. The absence of comprehensive accounting authorized share capital of Rs 5000 crore
systems in the Railways significantly and a paid-up share capital of Rs 150
hampers cost assessment and evaluation of
crore.
project viability.
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3. The National Food Security Act 295. With reference to the government initiatives to
emphasizes crop diversification and land boost employment, consider the following
consolidation. statements:
How many of the above statements are correct? 1. Prime Minister’s Employment Generation
(a) Only one Programme (PMEGP) merged Prime
(b) Only two Minister’s Rojgar Yojana (PMRY) and
(c) All three Rural Employment Generation Programme
(REGP).
(d) None
2. Production-Linked Incentive (PLI) Scheme
aims at enhancing national manufacturing
293. With reference to unemployment rates, consider
capabilities and generating employment
opportunities.
1. The AtmaNirbhar Bharat RojgarYojana
3. Pradhan Mantri MUDRA Yojana (PMMY)
(ABRY) aims to incentivize companies for
is restricted to corporate and farm
job creation and restore lost jobs during the
micro/small businesses.
COVID-19 pandemic.
2. National Career Service (NCS) Project
focuses solely on providing vocational
advice and information on skill (c) All three (d) None
development courses.
3. Pradhan MantriGarib Kalyan 296. With reference to the the Pradhan Mantri
RojgarAbhiyaan (PMGKRA) primarily Rojgar Protsahan Yojana (PMRPY), consider
targets urban unemployment issues caused the following statements:
by the COVID-19 pandemic. 1. The PMRPY Scheme aims to incentivise
How many of the above statements are correct? employers for employment generation by
(a) Only one (b) Only two the Government paying the full employers'
EPS contribution of 12%.
2. The beneficiaries enrolled in PMRPY
continue to receive benefits for three years
294. With reference to the initiatives to reduce
from the date of registration.
unemployment, consider the following
3. PMRPY is a scheme solely focusing on
statements:
employment generation in urban areas.
1. Mahatma Gandhi National Rural
Employment Guarantee Act (MGNREGA)
aims to create efficient and effective (a) Only one (b) Only two
institutional platforms for rural poor to (c) All three (d) None
enhance family income.
2. Deen Dayal Antyodaya Yojana (DAY) 297. With reference to the government schemes for
with an aim to uplift the urban poor folks poverty alleviation, consider the following
by enhancing sustainable livelihood statements:
opportunities through skill development.. 1. Pradhan Mantri Gramin Awaas Yojana
3. Pradhan Mantri Kaushal Vikas Yojana aims to provide low-interest loans and
(PMKVY) is the flagship scheme of the annual guaranteed wage work to rural
Ministry of Skill Development and households.
Entrepreneurship (MSDE) implemented by 2. Annapurna provides 10 kg of free food
National Skill Development Corporation grains to all eligible senior citizens,
(NSDC). regardless of their registration under the
How many of the above statements are correct? National Old Age Pension Scheme.
(a) Only one (b) Only two 3. The National Food Security Mission
(c) All three (d) None focuses on enhancing production of rice,
wheat and pulses.
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3. The quinary sector is synonymous with How many of the above statements are correct?
'gold collar' professions in terms of skills (a) Only one
and remuneration. (b) Only two
306. Which one of the following is used as the
303. With reference to the service sector in the official classification criteria for Micro, Small,
Indian economy, consider the following and Medium Enterprises (MSME) in India?
statements: (a) Number of workers employed
1. The tertiary sector primarily contributes to (b) Share in exports of total manufactured
the production of goods.
goods
2. Quinary activities involve interpreting new
(c) Investment and annual turnover
ideas and are the highest decision-making
entities primarily. (d) Number of units of electricity consumed
3. Quaternary sector jobs are generally
referred to as 'white collar' professions. 307. With reference to the General Agreement on
How many of the above statements are correct? Trade in Services (GATS), consider the
(a) Only one (b) Only two following statements:
(c) All three (d) None 1. GATS facilitates WTO members to restrict
foreign competition in their markets.
304. With reference to Sunrise Industries in the 2. GATS is based on the same principles as
Indian economy, consider the following its merchandise trade counterpart,
statements: emphasizing discrimination among
1. A Sunrise industry is characterized by high participants.
growth rates, innovation, and public 3. GATS promotes trade and development
awareness. through progressive liberalization and fair
2. The emergence of a Sunrise industry poses treatment of all participants.
no threat to declining industries, termed as How many of the above statements are correct?
sunset sectors. (a) Only one (b) Only two
3. The Union Budget 2023-24 emphasizes (c) All three (d) None
investment in sectors like Green Energy
and Clean Mobility Systems.
How many of the above statements are correct? 308. With reference to international trade in services,
1. International trade in services mainly
involves tangible products exchanged
between producers and consumers in
305. With reference to the General Agreement on
separate nations.
Trade in Services (GATS), consider the
following statements: 2. The most dynamic segment of
international trade is services, spanning
1. The GATS principles prioritize stimulating
economic activity over establishing a various areas like financial services,
credible system of international trade rules. transportation, communications,
2. The GATS primarily emphasizes construction, and distribution.
liberalization and doesn't aim for equal 3. The General Agreement on Trade in
treatment of all participants. Services (GATS) establishes the legal
3. The GATS supports the progressive framework for merchandise trade.
liberalization of service trade and ensures How many of the above statements are correct?
that all signatories are treated equally. (a) Only one (b) Only two
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3. Sellers are permitted to impose How many of the above statements are correct?
cancellation charges on consumers as per (a) Only one
their discretion. (b) Only two
(a) Only one (d) None
(b) Only two
(c) All three 316. Which of the following is/are the steps taken for
(d) None 'Ease of doing business' in India?
1. PM Gati-Shakti
315. With reference to the Telecom Regulatory 2. Paperless court procedures
Authority of India (TRAI), consider the 3. Digitisation of land records
following statements: 4. GST Implementation
1. The Chairperson of TRAI is a statutory How many of the above statements are correct?
body.
(a) Only one
2. TRAI regulates telecom services including
(b) Only two
fixation/revision of tariffs for telecom
(c) Only three
services.
(d) All Four
3. The Central Government is empowered to
remove any member of the TRAI.
CHAPTER-19: INTERNATIONAL ECONOMIC ORGANISATIONS

317. With reference to Bretton Woods Conference, Which of the statements given above is/are
consider the following statements: correct?
1. The International Monetary Fund (IMF) (a) 1 only
primarily focuses on long-term project (b) 2 only
financing in developing nations. (c) Both 1 and 2
2. The World Bank, including its IBRD arm, (d) Neither 1 nor 2
operates with the aim of stabilizing
exchange rates among member countries.
319. With reference to the International Monetary
3. Both the IMF and the World Bank are Fund (IMF), consider the following statements:
headquartered in London.
1. The Executive Board conducts the daily
How many of the above statements are correct? business of the IMF and holds all the
(a) Only one powers delegated to it by the Board of
(b) Only two Governors.
(c) All three 2. Special Drawing Rights (SDRs) determine
(d) None their value solely based on the top 10
currencies in world.
318. With reference to the International Monetary 3. The Board of Governors is a continuous
Fund (IMF), consider the following statements: chamber discussing amendments to the
1. The Board of Governors is responsible for Articles of Agreement and functioning of
electing or appointing executive directors the world economy.
to the Executive Board. How many of the above statements are correct?
2. The quota calculation for a country's (a) Only one
contribution considers GDP, openness, (b) Only two
economic variability, and international (c) All three
reserves. (d) None
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320. With reference to IMF membership and voting 323. With reference to world bank group, consider
power, consider the following statements: the following statements:
1. Membership in the IMF is not automatic 1. India is one of the founding members of
for UN members. IBRD, IDA and IFC..
2. Members' voting power in the IMF is 2. Among the world bank group institutions,
disconnected from their quotas or India is not a member of ICSID
contributions. (International Centre for Settlement of
3. Quota subscriptions are determined Investment Disputes).
primarily by a country's economic Which of the statements given above is/are
variability. correct?
How many of the above statements are correct? (a) 1 only
(a) Only one (b) 2 only
(b) Only two (c) Both 1 and 2
(c) All three (d) Neither 1 nor 2
(d) None
324. With reference to the Asian Development Bank
321. With reference to the World Bank Group, (ADB) and its functions, consider the following
consider the following statements: statements:
1. The International Bank for Reconstruction 1. ADB assists its members, and partners, by
and Development (IBRD) primarily providing loans, technical assistance,
focuses on the reconstruction of war-torn grants.
regions. 2. ADB has 68 member countries from Asia
2. India's shareholding in the IBRD increased and the Pacific.
significantly after the 2010 reforms. 3. Japan has the highest voting rights and
3. The International Development shareholding in ADB among its member
Association (IDA) provides interest-free countries.
loans to all member countries without How many of the above statements are correct?
income criteria. (a) Only one (b) Only two
How many of the above statements are correct? (c) All three (d) None
(c) All three (d) None 325. Consider the following statements:
1. OECD originated in 1948 as the
322. With reference to the World Bank Group, Organisation for European Economic Co-
consider the following statements: operation (OEEC) to oversee the Marshall
1. The International Finance Corporation Plan for post-war reconstruction in Europe.
(IFC) primarily focuses on providing 2. India is among the major members of the
grants to support developmental projects in OECD, actively engaging in daily work
member nations. and policy discussions within OECD
2. Multilateral Investment Guarantee Agency bodies.
(MIGA) offers insurance against 3. India is part of OECD’s Clean Energy
commercial risks for foreign private Finance and Investment Mobilisation
investors in developing economies. (CEFIM) programme .
3. The International Centre for Settlement of How many of the above statements are correct?
Investment Disputes (ICSID) resolves (a) Only one
trade disputes between member countries. (b) Only two
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How many of the above statements are correct? 334. With reference to the Agreement On Harmful
(a) Only one Fisheries Subsidies, consider the following
(b) Only two statements:
(c) All three 1. The Agreement strictly prohibits all
(d) None subsidies for fishing activities within
Exclusive Economic Zones (EEZ).
2. The UN FAO's report indicates an increase
in the percentage of fish resources globally
1. The TRIPS Agreement covers minimum
due to the measures like coastal regulation
standards for protection and enforcement
zones.
of various IPRs, including copyrights,
3. The Agreement prioritizes environmental
patents, and trademarks.
conservation over livelihood concerns in
2. The General Agreement on Trade in
developing countries by granting
Services (GATS) came into force during
exceptions for certain subsidies to support
the Uruguay Round of GATT, extending
these economies.
the multilateral trading system to the
service sector.
(a) Only one
3. The Sanitary and Phytosanitary Agreement
under the WTO primarily focuses on (b) Only two
imposing quantitative tariffs on members' (c) All three
food safety policies. (d) None
(a) Only one 335. With reference to the international trade policies
(b) Only two concerning electronic transmissions, consider
(c) All three the following statements:
(d) None 1. Developed countries, including the US and
UK, favored extending the moratorium on
customs duties for electronic transmissions
to maintain business certainty.
Information Technology Agreement (ITA):
2. Developing countries, such as India and
1. ITA-1 aimed to eliminate tariffs on
South Africa, supported the imposition of
specific IT products listed in its annex and
customs duties on electronic transmissions
India is a signatory to ITA-1.
to bolster revenue generation.
2. ITA-2 encompasses new-generation IT
3. The global economic loss due to the
products and India's non-signatory status to
moratorium on electronic transmissions
ITA-2.
was primarily borne by developed nations.
3. India’s response to the alleged
contradiction over customs duties on
(a) Only one
certain IT goods involved the claim that
these goods fall under ITA-1, where India (b) Only two
holds signatory status. (c) All three
How many of the above statements are correct? (d) None
(a) Only one
(b) Only two
(c) All three
(d) None
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CHAPTER-21: POVERTY AND HUNGER
342. Consider the following recommendations of 345. Consider the following statement:
Tendulkar Committee in the context of poverty 1. Difficulty in assessing income of self-
estimation in India employed people and daily wage
1. Uniform poverty line for both rural and labourers.
urban areas. 2. Data collection is difficult in rural and
2. Expenditure on health and education to informal economy of India
be considered while estimating poverty. 3. Large fluctuations in income levels of
3. Using Mixed Reference Period based people due to seasonal factors.
estimates instead of Uniform Reference 4. Households cannot smoothen their
Period based estimates consumption patterns due to absence of
4. Calorie consumption-based to be the household savings.
poverty estimation rather than income. How many of the above statements are correct
How many of the above statements are correct: reasons for using consumption expenditure as a
(a) Only one (b) Only two method to estimate poverty in India:
(c) Only three (d) All four (a) Only one
(b) Only two
343. Consider the following statements about (c) Only three
Inequality? (d) None
1. The Gini coefficient is the best way to
calculate inclusive growth in the 346. Consider the following statements about the
economy. Multidimensional Poverty Index (MPI):
2. The Gini coefficient for India has rapidly 1. Income criteria is one of the criteria used
reduced during the last decade in the Multidimensional poverty index.
3. A Gini Coefficient of 1 means that 2. MPI uses 10 indicators in three
everyone in the population has the same dimensions with each indicator
income. contributing equally to the calculation of
How many of the above statements are correct: the deprivation score.
(a) Only one (b) Only two Which of the statements given above is/are
(c) Only three (d) None correct?
(a) 1 only
344. Consider the fo;lowing pairs: (b) 2 only
Indicators Functions (c) Both 1 and 2
1. Phillips Curve Represents degree of (d) Neither 1 nor 2
income inequality in
an economy 347. Consider the following statement about reasons
2. Kuznets Curve Represents for increase in inequality in India post 1991
relationship between reforms ?
economic growth and
1. Public investment in the agriculture
inequality
sector has fallen
3. Lorenz curve Represents
relationship between 2. Decline in the availability of casual
inflation and labour
unemployment 3. Economic growth has been concentrated
How many of the above pairs are incorrectly only in selected areas of the service
matched: sector..
(a) Only one (b) Only two How many of the above statements are correct:
(c) Only three (d) None (a) Only one (b) Only two
(c) Only three (d) None
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348. With reference to 'churning poor', consider the 351. In a given year in India, official poverty lines
following statements ? are higher in some states than in other because
(a) People falling deeper into the trap of (a) Poverty rates vary from state to state
poverty. (b) Price levels vary from state to state
(b) People living in poverty but not reflected (c) Gross state product varies from state to
in official data and because of it they can state
not receive the benefits of government (d) Quality of public distribution varies from
schemes for them. state to state
(c) People receiving government benefits
but still not able to fight poverty and 352. Consider the following statements:
come out of it. 1. First Five-Year Plan marked the
(d) People who regularly move in and out of beginning of Trickle-Down Approach.
poverty mainly due to the seasonal 2. LPG reforms of 1991 led to increased
nature of their income or employment inequality.
Which of the statements above given is/are
349. With reference to different categorisation of correct?
poverty consider the following pairs: (a) 1 only
Categories Features (b) 2 only
of Poverty (c) Both 1 and 2
1. Churning A. A Person who (d) Neither 1 nor 2
Poor always remain
trapped in poverty 353. Consider the following statement:
2. Transient B. A Person who is 1. The earliest estimations of poverty was
Poor occasionally poor done by Dadabhai Naoroji in his book,
but rich most of the ‘Poverty and the Un-British Rule in
time India’
3. Chronic Poor C. A Person who 2. The poverty line proposed by Dadabhai
regularly moves in Naoroji was based on the cost of a
and out of poverty subsistence diet.
Which of the following pair is correctly 3. VM Dandekar and N Rath made the first
matched? systematic assessment of poverty in
(a) 1-c, 2-b, 3-a India
(b) 1-b, 2-c, 3-a 4. VM Dandekar and N Rath recommended
(c) 1-a, 2-b, 3-c that poverty line must be derived from
the expenditure that was adequate to
(d) 1-c, 2-a, 3-b
provide 2250 calories per day in both
rural and urban areas.
350. Which of the following statements best How many of the above given statements is/are
describes the ‘head count ratio’? correct:
(a) It is the percentage of people working in (a) Only one
the informal sector. (b) Only two
(b) It is the percentage of people employed (c) Only three
in a job but not utilised for the
(d) All four
production of goods and services.
(c) It is the percentage of the population
354. Rajat, a skilled artisan, found himself
living above the national poverty line .
unemployed when the traditional weaving
(d) It is the percentage of the population industry he worked for faced a downturn. As
living below the national poverty line. the sole breadwinner for his elderly parents and
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359. Consider the following statements about 362. With reference to Neem coated urea, consider
fertilizer consumption: the following statements:
1. Bihar and West Bengal account for the 1. Requirement of Neem coated urea is
highest per-hectare consumption of 50% less than conventional urea.
fertilizer in India. 2. Nitrogen efficiency of normal urea is 40-
2. The NPK ratio in the Eastern Zone is 50% and remaining nitrogen, around 50-
significantly lower compared to the 60% is lost due to evaporation.
Western Zone. 3. Both Neem coated urea and Fertigation
Which of the statements above given is/are offer solutions to mitigate environmental
correct? degradation and prevent food scarcity,
(a) 1 only according to the World Economic
(b) 2 only Forum's estimation.
(c) Both 1 and 2 How many of the above statements are correct?
(d) Neither 1 nor 2 (a) Only one (b) Only two
360. Consider the following statements about
fertilizer consumption: 363. Consider the following statements about farm
1. Punjab and Haryana have a similar mechanization in India:
fertility status of soil in terms of NPK 1. Majority of Farm mechanization in
ratio.
Punjab, Haryana, and Western Uttar
2. The consumption of Muriate of Potash Pradesh relies on tractor power.
(MoP) is substantially higher in the
2. South India has achieved high levels of
Western Zone compared to the Eastern
farm mechanization similar to the
Zone.
Northwestern region.
3. Uttar Pradesh (UP) contributes the least
3. Most states in India exhibit farm power
to the overall consumption of fertilizers
in India. exceeding the world average of
4KW/Ha.
(a) Only one
(b) Only two
(c) All three
(d) None
364. With reference to PM-KISAN scheme,
Consider the following statements:
1. Under the scheme an income support of
1. Neem-coating of urea assists in
preventing groundwater contamination 6,000/- per year in three equal
due to leaching, besides acting as a slow- installments will be provided to all land
release fertilizer and a natural holding farmer families.
insecticide. 2. Definition of family for the scheme is
2. Fertigation helps control alkalinity, husband, wife and minor children.
improves nutrient availability, and 3. State Government and UT administration
reduces chemical nutrient leaching. will identify the farmer families which
3. Fertigation contributes significantly in are eligible for support as per scheme
improving absorption rates and guidelines.
enhancing water efficiency. 4. All serving or retired officers and
How many of the above statements are correct? employees of Central/ State Government
(a) Only one (b) Only two Ministries /Offices/Departments are
(c) All three (d) None excluded from the benefits of the scheme
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370. Consider the following statements: 373. With reference to specialized farming in the
Statement I: Horticulture production in India Mediterranean region, consider the following
is higher than food production. statements:
Statement II: Productivity of horticulture 1. Orchard farming predominantly
crops is much higher compared to productivity represents a highly specialized
of food grains. commercial agriculture.
Which one of the following is correct in 2. Fruits like olives and figs in the
respect of the above statements? Mediterranean area can thrive even on
(a) Both Statement-I and Statement-II are thin, calcareous soil with very little
correct and Statement-II is the correct precipitation.
explanation for Statement-I 3. Irrigation practices are widespread in the
(b) Both Statement-I and Statement-II are cultivation of fruits, especially in areas
correct and Statement-II is not the like California, Israel, and parts of
correct explanation for Statement-I France, Spain, and Italy.
(c) Statement-I is correct but Statement-II is How many of the above statements are correct?
incorrect (a) Only one
(d) Statement-I is incorrect but Statement-II (b) Only two
is correct (c) All three
(d) None
371. Regarding agricultural productivity and
returns, consider the following statements: 374. With reference to Indian agriculture, consider
1. Mixed farming achieves high returns due the following statements:
to low labor and capital application. 1. Kharif crops predominantly rely on high
2. Horticultural crops need intensive water requirements due to their nature as
cultivation requiring a large input of monsoon crops.
capital, labour and technology per unit 2. Rabi crops primarily grow during the
area. winter season from October to February.
3. Aesthetic gratification is an exclusive 3. Zaid crops include watermelon,
phenomenon to Poultry farming. muskmelon, cucumber, and vegetables
How many of the above statements are correct? grown during the March to June period.
372. Consider the following pairs:
Branches of Features 375. With respect to global wheat production,
Horticulture consider the following statements:
1. Pomology Cultivation of fruit 1. The European Union is the topmost
crops producer of wheat worldwide in terms of
2. Olericulture Refers to cultivation of quantity.
vegetables 2. India, China, and Russia collectively
3. Plantation Crop Refers to cultivation of contribute to over half of the world's
crops like coconut, total wheat production.
arecanut, rubber, 3. The United States tops in global wheat
coffee etc production based on 2022 data.
How many of the above pairs are correct? How many of the above statements are correct?
(a) Only one (b) Only two (a) Only one (b) Only two
(c) All three (d) None (c) All three (d) None
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376. With reference to worldwide rice production, 379. With reference to the production of millets in
consider the following statements: India, consider the following statements:
1. Rice can be cultivated in almost any 1. The Green revolution of 1970 led to
location given suitable weather decline in millet cultivation after the
conditions, even on steep hills or 1970 .
mountains, utilizing water-controlling 2. Indian Millets are nutritionally superior
terraces. to wheat and rice.
2. China and India collectively contribute 3. India is the largest producer as well as
to over 50% of global rice production, the largest exporter of cereal products in
with China producing approximately 200 the world.
million tons. How many of the above statements are correct?
3. Southeast Asia houses nine of the top ten (a) Only one
and thirteen of the top twenty rice- (b) Only two
producing nations worldwide.
(c) All three
(d) None
(a) Only one
(b) Only two
380. Consider the following statements about
(c) All three millets:
(d) None 1. Millets are ideal for people with celiac
disease or diabetes.
377. With reference to worldwide maize production, 2. They are gluten-free and have a low
consider the following statements: glycemic index
1. Maize production across the globe Which one of the following is correct in
accounts for approximately 1100 million respect of the above statements?
MT. (a) Both Statement-I and Statement-II are
2. The major utilization pattern of maize correct and Statement-II is the correct
globally is feed consumption, explanation for Statement-I
constituting 61% of its usage. (b) Both Statement-I and Statement-II are
3. India rank 4th in area and 7th in correct and Statement-II is not the
production of Maize. correct explanation for Statement-I
How many of the above statements are correct? (c) Statement-I is correct but Statement-II is
(a) Only one (b) Only two incorrect
(c) All three (d) None (d) Statement-I is incorrect but Statement-II
is correct
378. With reference to worldwide pulses
production, consider the following statements: 381. Which of the following is known as the king of
1. India has the maximum area under Millets:
pulses. (a) Jawar (Sorghum)
2. Globally Chickpeas exhibited the highest (b) Bajra (Pearl Millet)
percentage increase in production among (c) Ragi (Finger millet)
all pulse crops. (d) Small millets
3. Sub-Saharan Africa experienced the
highest absolute increase in pulse
382. With reference to the production of sugarcane
production among all regions.
in India, consider the following statements:
1. The Bhabhar-Tarai belt is the major
(a) Only one (b) Only two sugarcane-producing belt in India due to
(c) All three (d) None favorable agro-ecological factors and
government-supported infrastructure.
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CHAPTER-23 ENERGY SECTOR
388. With reference to the coal reserves in India, How many of the above statements are correct?
consider the following statements: (a) Only one
1. Chhattisgarh ranks third in coal reserves (b) Only two
but second in production among Indian (c) All three
states. (d) None
2. Maharashtra, despite having 3% of
reserves, contributes over 9% to India's
391. With reference to the challenges in Indian coal
coal production.
mining, consider the following statements:
3. The Damuda series constitutes around
1. Coal's uneven distribution across India
80% of India's total coal production.
causes a lack of accessibility in specific
4. Gondwana coal makes up to 98 % of the regions.
total reserves and 99 % of the production
2. The high calorific value of Indian coal
of coal in India.
mitigates environmental pollution during
How many of the above statements are correct? utilization.
(a) Only one 3. The health hazards due to coal dust are
(b) Only two restricted only to workers in the mines.
(c) Only three How many of the above statements are correct?
(d) All four (a) Only one
(b) Only two
389. With reference to the coal mining, consider (c) All three
the following statements: (d) None
1. Jharkhand's Singrauli coalfield is the
largest coalfield in the state, catering
392. Consider the following statements regarding
primarily to thermal power plants.
the Hydrocarbon Exploration and Licensing
2. Odisha is the second-largest state in Policy (HELP):
terms of both coal reserves and coal
1. HELP replaced the New Exploration
production in India.
Licensing Policy (NELP) to augment
3. Andhra Pradesh's coal reserves are domestic oil and gas production.
mainly concentrated in the Godavari
2. The Open Acreage Policy in HELP
valley.
allows explorers to bid for specific
How many of the above statements are correct? blocks based on competitive advantages.
(a) Only one 3. The Revenue Sharing Model under
(b) Only two HELP retains the profit-sharing approach
(c) All three as per the NELP.
(a) Only one
390. Regarding characteristics of tertiary coal, (b) Only two
consider the following statements: (c) All three
1. Tertiary coal is between 15 to 60 million (d) None
years old and has high carbon content.
2. Assam's coalfields contain high ash
content but are suitable for metallurgical
393. With reference to the Pradhan Mantri Urja
purposes due to low sulphur content.
Ganga Project, consider the following
3. Tamil Nadu's Neyveli Lignite fields statements:
suffer from issues related to mining
1. The project aims to provide cooking gas
depth.
primarily to urban households.
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How many of the above statements are correct? 2. Puga Valley project in Arunachal
(a) Only one (b) Only two Pradesh is India’s first geothermal
(c) All three (d) None energy project.
3. Geothermal power plants consume more
land per GWh compared to wind or solar
399. With reference to the energy-related schemes,
PV with center station.
1. The Ujwal DISCOM Assurance Yojana
(UDAY) aims to restructure DISCOMs'
debt, offering a provision where state
governments can take over 75% of the
debt. 402. With reference to the Indian economy,
2. Deendayal Upadhyaya Gram Jyoti
Yojana (DUGJY) solely focuses on the 1. The reduction in solar tariffs in India
indicates a consistent decline in
electrification of rural areas and does not
renewable energy costs over recent
include feeder separation or network
years.
strengthening.
2. The achievement of the 10% ethanol
3. The Coal Mines (Special Provisions) blending target in petrol ahead of
Act, 2015, was implemented to mitigate schedule prompted the government to
power generation fuel shortages and has advance the 20% ethanol blending target.
resulted in the allocation of coal mines to Which of the statements given above is/are
winning bidders. correct?
How many of the above statements are correct? (a) 1 only (b) 2 only
(a) Only one (b) Only two (c) Both 1 and 2 (d) Neither 1 nor 2
403. With reference to India's energy transition,
400. With reference to the energy sector consider the following statements:
performance, consider the following 1. The Energy Conservation Amendment
statements: Act 2022 mandates the exclusive use of
1. Maharashtra leads among Indian states in green hydrogen, green ammonia, and
electricity generation, contributing to biomass for energy and feedstock in
India's status as the fifth-largest industries.
electricity producer globally. 2. India's National Green Hydrogen
2. The elasticity ratio of 0.8 indicates that Mission is aligned with the country's aim
electricity remains a critical factor in of achieving 50% cumulative electric
power installed capacity from non-fossil
India's economic growth trajectory.
fuel-based energy sources by 2030.
3. India’s installed non-fossil fuel capacity
3. The share of fossil fuels in India's
has increased 396% in the last 8.5 years.
installed capacity reduced from 67% in
How many of the above statements are correct? 2017 to 57% in 2023, driven by the
(a) Only one (b) Only two increased utilization of solar and wind
(c) All three (d) None energy.
401. With reference to geothermal energy, consider (a) Only one
the following statements: (b) Only two
1. Geothermal energy is a renewable (c) All three
energy source due to the continuous (d) None
production of heat inside the earth.
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CHAPTER-2: NATIONAL INCOME ACCOUNTING

CHAPTER-4: LAND REFORMS

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39. Consider the following statements regarding

196. In the context of banking regulations in the

CHAPTER-14: DIGITAL PAYMENTS

CHAPTER-19: INTERNATIONAL ECONOMIC ORGANISATIONS

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