Eco Quz 2 2012

30 Questions | Total Attempts: 587

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Eco Quz 2 2012

Questions and Answers
  • 1. 
    As per the data released by the Controller General of Accounts on 29 February 2012, fiscal deficit was 105 per cent of the total annual target in the April-January period of 2011-12. What did the deficit stand at?
    • A. 

      Rs 4 lakh crore

    • B. 

      Rs 3.33 lakh crore

    • C. 

      Rs 5.21 lakh crore

    • D. 

      Rs 4.34 lakh crore

  • 2. 
    1. Cabinet Committee for Economic Affairs approved the National Dairy Development Board’s ambitious National Dairy Plan for the 12th Five-Year Plan to be initiated in 2012. Which of the following facts with regard to the statement is not true? 2. The project is aimed at boosting milk production using scientific breeding and feeding programmes covering about 2.7 million milch animals in 40000 villages 3. According to  the National Dairy Development Board, the demand for milk is likely to be about 150 million tonne by 2016-17 and 200-210 million tonne by 2021-22. India was the third largest milk producing nation in 2010-11 with a production of 100.2 million tonne. 4. Cooperatives currently procure about 16% of the national marketable milk surplus covering around 21% of the country’s villages and 18% of rural milk producing households 5. The cooperative sector is needed to achieve a procurement share of at least 20% of the marketable milk surplus by 2016-17 so as to retain an overall 50% share of the marketable surplus handled by the organised sector
    • A. 

      1 & 3

    • B. 

      Only 3

    • C. 

      Only 2

    • D. 

      3 & 4

  • 3. 
    Reserve Bank of India (RBI) on13 February 2012 changed the bank rate, a medium-term signal rate after nine years with the objective to realign it with the marginal standing facility (MSF) rate as a one-time technical adjustment to link it with the main policy repo rate. What does the changed bank rate stand stand at?
    • A. 

      9.5%

    • B. 

      8.3%

    • C. 

      10.1%

    • D. 

      8%

  • 4. 
    As per the first nationwide retail inflation data released by the Centre of Statistical Office on 21 February 2012, inflation based on the all India Consumer Price Index stood at what per cent in January 2012?
    • A. 

      6.6%

    • B. 

      7.65

    • C. 

      8.32%

    • D. 

      5.50%

  • 5. 
    The Prime Minister's Economic Advisory Panel (PMEAC) on 22 February 2012 projected 7.5 - 8 per cent growth rate for the fiscal 2012-13. Which of the following facts are true with respect to the above statement?  The economy recorded a growth rate of 8.4 per cent in 2010-11, which according to the CSO estimates is expected to moderate to 6.7 per cent in the current fiscal 2011-12 Inflation was projected to moderate to 6.5% by March 2012 and 5-6 per cent in 2012-13. The manufacturing sector was projected to grow by 4.8 percent while construction segment is expected to expand by 5.3 percent. Projected Gross Domestic Product (GDP) growth for 2012 is substantially down from the budgetary target of around nine percent, and 8.4 percent expansion registered in 201
    • A. 

      Only 4

    • B. 

      Only 1

    • C. 

      Only 2

    • D. 

      1, 2 & 4

  • 6. 
    Reserve Bank of India (RBI) panel on priority sector lending on 21 February 2012 proposed increment in the target (prioritysector) for foreign banks to what per cent of net bank credit from the current level of 32 per cent with sub-targets of 15 per cent for exports and 15 per cent for the MSE sector?
    • A. 

      53%

    • B. 

      40%

    • C. 

      46%

    • D. 

      39%

  • 7. 
    There were as many as 1359 foreigners, who availed themselves of the Visa on Arrival scheme in January compared with 790 in January 2011. What was the per centage growth recorded in number of foreigners availing Visa on Arrival (VoA) scheme in January 2012?
    • A. 

      70%

    • B. 

      72%

    • C. 

      75%

    • D. 

      82%

  • 8. 
    As per the provisional figures of exports released on 9 February 2012, India’s exports in January 2012 rose to what per cent to $25.4 billion?
    • A. 

      10.1%

    • B. 

      7%

    • C. 

      12.32%

    • D. 

      8.3%

  • 9. 
    Reserve Bank of India (RBI) on 14 February 2012, issued the ‘Draft Circular for Deployment of White Label Automated Teller Machines (WLAs) from non-bank entities. Which of the following facts related to this statement is/are not true? The WLA operator can choose the location of the WLA. However, it will have to adhere to annual targets and the ratio of WLA between Tier I &II and Tier III-VI centres that may be stipulated by the RBI. Non-bank entities proposing to set up WLAs have to apply to the RBI seeking authorisation under the Payment and Settlement Systems Act 2007 The non-banking entities should have a minimum net worth of Rs. 1000 crore at the time of making the application and on a continuing basis after issue of the requisite authorisation. Being non-bank owned ATMs, the guidelines on five free transactions in a month for using other bank ATMs will not be applicable for transactions made on the WLAs. The WLA operator will have to declare one Sponsor Bank, which will serve as the Settlement Bank for the settlement of all the service transactions at the WLAs.
    • A. 

      2 & 5

    • B. 

      Only 1

    • C. 

      Only 3

    • D. 

      Only 5

  • 10. 
    Empowered Group of Ministers (EGoM) headed by Finance Minister Pranab Mukherjee on 15 February 2012 approved the auction route for selling 5 per cent stake in state-run oil major?
    • A. 

      IOC

    • B. 

      ONGC

    • C. 

      HPCL

    • D. 

      BPCL

  • 11. 
    As per official data released on 14 February 2012, headline inflation eased to a 26-month low in January 2012 from 7.47 percent in December 2011 on the back of further fall in vegetable prices. What did the headline inflation stand at in January 2012?
    • A. 

      6.55%

    • B. 

      5.33%

    • C. 

      5.75%

    • D. 

      7.1%

  • 12. 
    The Union government in January 2012 decided to subscribe to preferential equity shares issued by which of the two public sector banks?
    • A. 

      SBI & PNB

    • B. 

      PNB & Union Bank

    • C. 

      SBI & UCO

    • D. 

      Bank of Baroda & Canara Bank

  • 13. 
    According to the data released by the Commerce and Industry Ministry on 30 January 2012, the growth rate of eight core industries slowed down to what per cent in December 2011 from 6.3 per cent in December 2010?
    • A. 

      2.5%

    • B. 

      3.1 %

    • C. 

      4%

    • D. 

      5.2%

  • 14. 
    The apex decision-making body of the communications ministry, the Telecom Commission decided to allow mobile phone companies to share spectrum. Identify the statement which is incorrect. The Commission has however limited this facility to 3G airwaves alone Only those operators that have airwaves in a particular region can share it. Spectrum can be shared only between two spectrum holders Two companies can share airwaves only if their combined holdings do not exceed the limits prescribed in the M&A norms Spectrum sharing deals will also have to be renewed every five years
    • A. 

      Only 4

    • B. 

      Only 2

    • C. 

      Only 1

    • D. 

      2 & 3

  • 15. 
    The Union government on 31 January 2012 revised the economic growth rate for 2010-2011 financial year to what percent in comparison to the previous estimate of 8.5 percent?
    • A. 

      8%

    • B. 

      8.4%

    • C. 

      7.5%

    • D. 

      7%

  • 16. 
    Centre for Monitoring Indian Economy (CMIE) estimated Corporate India’s sales to grow by what per cent in 2011-12?
    • A. 

      21.6%

    • B. 

      20.8%

    • C. 

      22

    • D. 

      23.7%

  • 17. 
    According to the report  by Gems and Jewellery Export Promotion Council (GJEPC) released in January 2012, gems and jewellery exports fell into the negative zone to $3 billion in December 2011. What per cent fall did it register in the month in question?
    • A. 

      10.33%

    • B. 

      12.17%

    • C. 

      13.33%

    • D. 

      15%

  • 18. 
    Reserve Bank of India (RBI) on 24 January 2012 cut the cash reserve ratio (CRR) by 50 basis point. The current CRR stands at what percent?
    • A. 

      5%

    • B. 

      5.5%

    • C. 

      6%

    • D. 

      6.5%

  • 19. 
    The Reserve Bank of India on 24 January 2012 also kept the repo rate unchanged for the second consecutive time after raising it 13 times between March 2010 and October 2011. What is the present repo rate?
    • A. 

      8%

    • B. 

      7.5%

    • C. 

      8.5%

    • D. 

      9%

  • 20. 
    The poor performance of National Pension System, or NPS led the Pension Fund Regulatory and Development Authority (PFRDA) to change the incentive structure for the distributors. Which of the following statements in this regard is/are not true?
    • A. 

      The pension regulator on the basis of the recommendation of the G.N. Bajpai committee constituted by PFRDA to review NPS, fixed the incentive at 0.25% of the subscription amount

    • B. 

      As per PFRDA’s measures announceds, a distributor will get a flat Rs 50 on initial subscription and 0.05% of the initial subscription amount

    • C. 

      Every year on subsequent investments, the point of presence will be entitled to 0.25% of that amount.

    • D. 

      The minimum that a point of presence can charge is Rs 20 and the maximum Rs 25000.

  • 21. 
    As per the Index of Industrial Production (IIP) data, industrial production bounced back with a growth of what per cent in November 2011, marking a five-month high in a reversal from the negative trend witnessed in October 2011?
    • A. 

      5.9%

    • B. 

      6.5%

    • C. 

      7%

    • D. 

      8.2%

  • 22. 
    India on 13 January 2012 extended for how many years an anti-dumping duty on import of four Chinese products like nylon filament yarn, Saccharin, cellophane transparent film etc?
    • A. 

      3 years

    • B. 

      5 years

    • C. 

      10 years

    • D. 

      12 years

  • 23. 
    Reserve Bank of India (RBI) on 13 January 2012 issued guidelines on compensation of wholetime directors, chief executive officers and other risk takers in private and foreign banks. Which of the following facts regarding the above statement is/are not true. 1. The central bank’s directions are aimed at preventing greed from destabilising the institution. 2. The guiderlines include provisions to clawback pay if transactions fail years after origination 3. The norms  provided also include capping the variable component of the compensation at 48% of the fixed pay in a year 4. As per the guidelines issued, banks are permitted to exclude the Employees Stock Option Plan from variable pay
    • A. 

      Only 2

    • B. 

      Only 4

    • C. 

      Only 3

    • D. 

      2 & 4

  • 24. 
    Which of the following bodies unveiled rules for direct investment in stocks by foreign investors, including individuals to put curbs on opaque structures to prevent routing of funds by resident Indians?
    • A. 

      IRDA

    • B. 

      FICCI

    • C. 

      CCI

    • D. 

      SEBI

  • 25. 
    As per the Wholesale Price Index, published by the government on 16 January 2012, Reduced food prices caused the inflation to dip to a year low at what per cent in  December 2011?
    • A. 

      7.47%

    • B. 

      7.65%

    • C. 

      6.33%

    • D. 

      5.41%

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