GS Quiz based on Indian Economy


Q. How is the United Nations Monetary and Financial Conference wherein the agreements were signed to set up IBRD, GATT, and IMF, commonly known?
  • (a) Bandung Conference
  • (b) Bretton Woods Conference
  • (c) Versailles Conference
  • (d) Yalta Conference
Explanation:
The United National Monetary and Finance Conference, commonly known as Bretton Woods Conference. It was a gathering of 730 delegates from all 43 Allied Nations at the Mount Washington Hotel, situated in Bretton Woods, New Hampshire to regulate the international monetary and financial order after the conclusion of World War II. The conference was held from 1 July 1944. In the conference, the agreements was signed to set up the International Bank for Reconstruction and Development, the General Agreement on Tariffs and Trade (GATT), and the International Monetary Fund (IMF).

Ans- (b)

Q. Which of the following are the public sector undertakings of the Government of India?

  • Balmer Lawries and Company Ltd.
  • Dredging Corporation of India
  • Educational Consultants of India Ltd.
Codes:
(a) 1 and 2
(b) 2 and 3
(c) 1 and 3
(d) 1, 2 and 3
Explanation:
Balmer Lawries and Company Ltd. is a public sector undertaking company of India. Its headquarters is at Kolkata. It was established in the year 1867 by two Scotsmen, George Stephen Balmer and Alexander Lawrie. It manufactures industries packaging, baseless and drums, LPG cylinders, greases and lubricants, leather chemicals, functional additives and marine freight containers.
Dredging Corporation of India is a public sector undertaking company of India. Its headquarter is at Vishakhapatnam. It was established in the year 1976 to provide Dredging services to the major ports of the country in India.
Educational Consultants of India Ltd. (Ed. CIL) was conceived and incorporate as a public sector enterprise by the government of India in 1881, under the Ministry of Education and Culture (Reconstituted as the Ministry of Human Resource Development in 1985). It offers consultancy and technical services in different areas of Education and Human Resource Development not only within the country but also on a global basis.
Ans- (d)

Q. India is a member of which of the following?
  • Asian Development Bank
  • Asia-Pacific Economic Cooperation
  • Colombo Plan
  • Organization for Economic Cooperation and Development (OECD)
Codes:
(a) 1 and 3
(b) 2 and 3
(c) 1, 2 and 3
(d) 1, 2, 3 and 4
Explanation:India is a member of Asian Development Bank as well as Colombo plan. Asian Development Bank was established in 1966. ADB has grown to encompass 67 members of which 48 are from within the Asia and Pacific region and 19 outside.
The Colombo plan provides aid to areas of south and Southeast Asia. Headquarter is in Colombo, the capital of Sri Lanka. The Colombo plan began in July, 1951.
Ans- (a)

Q. Consider the following statements:
  • The Nuclear Suppliers Group has 24 countries as its members.
  • India is a member of the Nuclear Suppliers Group.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Explanation:The Nuclear Suppliers Group has 48 countries as its member and India is not a member of the Nuclear Suppliers Group. Nuclear Suppliers Group established in 1975.
Ans- (d)

Q. Consider the following statements with reference to Indira Gandhi National Old Age Pension Scheme (IGNOAPS):
  • All persons of 60 years or above belonging to the households below poverty line rural areas are eligible.
  • The Central Assistance under this scheme is at the rate of Rs. 300 per month per beneficiary. Under the scheme, States have been urged to give matching amounts.
Which of the following given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2

Explanation:Under Indira Gandhi National Old Age Pension Scheme a person who is 65 years or order and belonging to the households below the poverty line in rural areas are eligible. The Central Assistance under this scheme is at the rate of Rs. 200 per month per beneficiary. This scheme launched by the Prime Minister Dr. Manmohan Singh. Speaking on the occasion the Prime Minister Dr. Manmohan Singh said by providing some sense of security to our vulnerable elderly citizen in 1995.
Ans- (d)

Q. What is the name of the scheme which provides training and skills to women in traditional and non-traditional trades?
(a) Kishori Shakti Yojna
(b) Rashtriya Mahila Kosh
(c) Swayamsiddha
(d) Swawlamban

Explanation:Swawlamban scheme is being implemented by the department of Women and child development with partial assistance from Norway since 1982. Its basic objective is to provide training and skills to women to facilitate them obtain employment or self-employment on a sustained basis. The target groups under the scheme are the poor and needy women, women from weaker section of the society, such as schedule caste and schedule tribes etc. Financial assistance is provided to undertake training programme for women in both traditional as well as non-traditional.
Ans- (d)

Q. Which one of the following is the correct sequence in the decreased order of production (in million tones) of the given food grains in India?
(a) Wheat – Rice – Pulses – Coarse cereals
(b) Rice – Wheat – Pulses – Coarse cereals
(c) Wheat – Rice – Coarse cereals – Pulses
(d) Rice – Wheat – Coarse cereals – Pulses

Explanation:
  • Production of crops and Food grains.
  • Crops
  • Rice – Wheat – Coarse cereals – Pulses
  • Food grains
  • Kharif – Rabi.
Ans- (d)

Q. Among other things, which one of the following was the purpose for which the Deepak Parekh Committee was constituted?
(a) To study the current socio-economic conditions of certain minority communities
(b) To suggest measures for financing the development of infrastructure
(c) To frame a policy on the production of generally modified organism
(d) To suggest measures to reduce the fiscal deficit in the Union Budget

ExplanationThe main purpose for which the Deepak Parekh Committee was constituted to suggest measures for financing the development of infrastructure
Ans- (b)

Q. NAMA-11 group of countries frequently appears in the news in the context of the affairs of which one of the following?
(a) Nuclear Supplier Group
(b) World Bank
(c) World Economic Forum
(d) World Trade Organization

ExplanationNAMA-11 is a group of countries for negotiation on the reduction of import duty on industrial goods. It is the Organization of developing countries in which India is also the member. The members of countries of NAMA-11 are also the member of WTO.
Ans- (d)

Q. Consider the following statements regarding Indian Planning:
  • The Second Five Year Plan emphasized on the establishment of heavy industries.
  • The Third Five Year Plan introduced the concept the import substitution as a strategy for Industrialization.
Which of the statement(s) given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2Explanation

ExplanationThe Second Five Year Plan was started on April 1, 1956, and ended on March 31, 1961. The Fundamental objective of this plan was to initiate and accelerate the process of industrialization so that the development of Indian Economy acts a firm base. It laid emphasis on industrialization, increased production of Iron and Steel, heavy chemicals including nitrogenous fertilizers and development of heavy engineering and machine- building industry.
Third Five Year Plan started on April 1 1961 and ended on March 31, 1966. The basic aim of this plan was to push the economy up to the take-off stage of development. This plan aimed at securing a market advance towards self-sustaining growth.
Ans- (c)

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