1

Which of the following is not a component of Gross Domestic Product (GDP) calculation?

A

Government spending

B

Imports

C

Investment

D

Foreign aid

E

Answer

D, Explanation: Gross Domestic Product (GDP) measures the total monetary value of all final goods and services produced within a country's borders during a specific period. It is calculated by summing up consumption, investment, government spending, and net exports (exports minus imports).

Instruction

2

What is the primary purpose of the Reserve Bank of India (RBI) in regulating the economy?

A

Ensuring high levels of employment

B

Maximizing government revenue

C

Controlling inflation and maintaining price stability

D

Stimulating economic growth through deficit spending

E

Answer

C, Explanation: The primary purpose of the Reserve Bank of India (RBI) in regulating the economy is to control inflation and maintain price stability. The RBI achieves this objective by implementing monetary policies such as adjusting interest rates, managing money supply, and regulating the banking sector.

Instruction

3

Which of the following is an example of expansionary fiscal policy?

A

Decreasing government spending

B

Reducing income tax rates

C

Selling government securities

D

Increasing the reserve requirement for banks

E

Answer

B, Explanation: Expansionary fiscal policy aims to stimulate economic growth by increasing aggregate demand. One way to achieve this is by reducing income tax rates, which puts more money in the hands of consumers, leading to increased spending and investment.

Instruction

4

Which of the following is a tool of monetary policy used by the Reserve Bank of India (RBI) to control inflation?

A

Increasing government spending

B

Lowering the cash reserve ratio (CRR)

C

Raising income tax rates

D

Selling government securities

E

Answer

B, Explanation: Lowering the cash reserve ratio (CRR) is a tool of monetary policy used by the Reserve Bank of India (RBI) to control inflation. When the RBI lowers the CRR, it increases the liquidity in the banking system, allowing banks to lend more money to consumers and businesses. This increased lending stimulates economic activity, leading to higher levels of consumption and investment, which can help to control inflation.

Instruction

5

Which of the following policies is aimed at reducing the budget deficit?

A

Expansionary fiscal policy

B

Tightening monetary policy

C

Decreasing government expenditure

D

Lowering interest rates

E

Answer

C, Explanation: Reducing government expenditure is a policy aimed at reducing the budget deficit. When the government spends less, it reduces the overall deficit, as expenditure is a major component of government revenue and determines the extent of borrowing required to finance the deficit.

Instruction

6

Which of the following is a tool used by the Reserve Bank of India (RBI) to stimulate economic growth during a period of recession?

A

Increasing the repo rate

B

Selling government securities

C

Lowering the statutory liquidity ratio (SLR)

D

Raising income tax rates

E

Answer

C, Explanation: Lowering the statutory liquidity ratio (SLR) is a tool used by the Reserve Bank of India (RBI) to stimulate economic growth during a period of recession. SLR refers to the portion of deposits that banks are required to maintain in the form of liquid assets like cash, gold, or government securities.

Instruction

7

During an economic slowdown, which monetary policy tool does the Reserve Bank of India (RBI) commonly use to encourage borrowing and spending?

A

Increasing the reverse repo rate

B

Buying government securities

C

Reducing the statutory liquidity ratio (SLR)

D

Lowering the bank rate

E

Answer

C, Explanation: During an economic slowdown, the Reserve Bank of India (RBI) commonly uses the tool of reducing the statutory liquidity ratio (SLR) to encourage borrowing and spending. Lowering the SLR frees up funds for banks to lend, thereby stimulating economic activity.

Instruction

8

Which of the following policies is typically employed by the Reserve Bank of India (RBI) to combat inflationary pressures?

A

Increasing the repo rate

B

Decreasing the statutory liquidity ratio (SLR)

C

Lowering income tax rates

D

Selling government bonds in the open market

E

Answer

A, Explanation: Increasing the repo rate is a monetary policy tool commonly used by the Reserve Bank of India (RBI) to combat inflationary pressures. When the repo rate is increased, it becomes more expensive for banks to borrow funds from the RBI, leading to higher interest rates in the economy. This helps to reduce borrowing and spending, thereby cooling down inflation.

Instruction

9

NITI Aayog introduced a flagship initiative aimed at fostering competitive federalism and promoting ease of doing business across states in India. What is the name of this initiative?

A

Atal Innovation Mission (AIM)

B

National Nutrition Mission (NNM)

C

Sustainable Action for Transforming Human Capital (SATH)

D

Ease of Doing Business (EoDB) Index

E

Answer

D, Explanation: Ease of Doing Business (EoDB) Index. NITI Aayog introduced this flagship initiative to foster competitive federalism and enhance the ease of doing business across states in India. The EoDB Index ranks states based on their performance in implementing business-friendly reforms, thereby encouraging healthy competition and attracting investments.

Instruction

10

On which date was the National Institution for Transforming India (NITI) Aayog established by the Government of India?

A

January 1, 2014

B

January 1, 2015

C

January 1, 2016

D

January 1, 2017

E

Answer

B, Explanation: The National Institution for Transforming India (NITI) Aayog was established by the Government of India on January 1, 2015, replacing the erstwhile Planning Commission. NITI Aayog serves as the premier policy think tank of the Government of India, providing both directional and policy inputs.

Instruction

11

What was the recent decision of the Supreme Court regarding the Shimla Development Plan 2041?

A

The Supreme Court rejected the plan, terming it unsustainable.

B

The Supreme Court upheld the plan, considering it illegal.

C

The Supreme Court approved the plan, terming it sustainable.

D

The Supreme Court directed the state government to revise the plan within six weeks.

E

Answer

C, Explanation: According to the provided information, the recent decision of the Supreme Court regarding the Shimla Development Plan 2041 was that the court approved the plan, terming it sustainable. This decision set aside the previous orders of the NGT and emphasized that the NGT cannot dictate the state government's formulation of the plan but can scrutinize the plan on its merits.

Instruction

12

What is the objective of the Pradhan Mantri Anusuchit Jaati Abhuyday Yojana (PM-AJAY)?

A

To provide financial assistance to rural households.

B

To promote agricultural development in backward regions.

C

To uplift Scheduled Caste (SC) communities through employment generation and skill development.

D

To improve infrastructure in urban areas.

E

Answer

C, Explanation: The Pradhan Mantri Anusuchit Jaati Abhuyday Yojana (PM-AJAY) aims to uplift Scheduled Caste (SC) communities by generating employment opportunities through skill development, income-generating schemes, and various initiatives.

Instruction

13

What is the significance of the Kochi-Lakshadweep Islands Submarine Optical Fiber Connection (KLI-SOFC) project?

A

It aims to improve transportation infrastructure in Lakshadweep.

B

It focuses on enhancing agricultural productivity in the region.

C

It introduces high-speed internet connectivity to Lakshadweep through submarine optic fiber cables.

D

It aims to promote cultural exchange between Kochi and Lakshadweep.

E

Answer

C, Explanation: The significance of the Kochi-Lakshadweep Islands Submarine Optical Fiber Connection (KLI-SOFC) project lies in its introduction of high-speed internet connectivity to Lakshadweep through submarine optic fiber cables. This project will unlock new possibilities and opportunities by increasing internet speed, benefiting the population and fostering socio-economic development in the region.

Instruction

14

What is the objective of the Scheme for Residential Education for Students in High Schools in Targeted Areas (SHRESHTA)?

A

To provide financial support to students for higher education.

B

To improve infrastructure in schools located in Scheduled Castes (SCs) dominant areas.

C

To fill the educational service gap by providing high-quality education and overall development for SC students.

D

To promote vocational training among students from marginalized communities.

E

Answer

C, Explanation: The objective of the Scheme for Residential Education for Students in High Schools in Targeted Areas (SHRESHTA) is to fill the educational service gap by providing high-quality education, socio-economic upliftment, and overall development for Scheduled Castes (SC) students. This scheme aims to provide residential education in high-quality schools to SC students from marginalized income groups.

Instruction

15

What is the primary reason for the decline in saffron production in Kashmir?

A

Environmental pollution caused by cement factories

B

Climate change and unexpected rainfall

C

Lack of government intervention in promoting saffron cultivation

D

Market challenges leading to decreased demand for saffron

E

Answer

A, Explanation: The primary reason for the decline in saffron production in Kashmir is environmental pollution caused by cement factories. Cement factories emit large volumes of dust containing harmful gases, which adversely affect the quality and quantity of saffron yield. This pollution leads to decreased chlorophyll, interrupted light absorption, and gas diffusion in saffron plants, ultimately resulting in stunted growth and reduced saffron production.

Instruction

16

What is the primary objective of the Migration and Mobility Agreement between India and Italy?

A

To restrict irregular migration between the two countries.

B

To strengthen cooperation on trade and economic issues.

C

To facilitate mobility for various segments and foster people-to-people ties.

D

To regulate the flow of seasonal workers between India and Italy.

E

Answer

C, Explanation: The primary objective of the Migration and Mobility Agreement between India and Italy is to facilitate mobility for various segments, including students, skilled workers, businesspersons, and young professionals, thereby fostering exchange and collaboration while strengthening people-to-people ties between the two countries.

Instruction

17

What recent events have raised concerns about global trade disruptions?

A

Attacks on ships in the Red Sea trade route and ongoing drought problem at the Panama Canal

B

Political tensions in the South China Sea and trade disputes between the US and China

C

Economic sanctions imposed on Russia and cyberattacks on major shipping

D

Volcanic eruptions in the Pacific Ocean and hurricanes affecting Caribbean trade routes

E

Answer

A, Explanation: Recent attacks on ships in the Red Sea trade route and the ongoing drought problem at the Panama Canal have raised worries about global trade disruptions. These incidents have the potential to affect shipping routes and lead to delays in the transportation of goods, impacting international trade.

Instruction

18

What is the primary concern highlighted by the recent Lancet study on child marriage in India?

A

The increasing incidence of child marriage across all states of India.

B

The effectiveness of policy interventions in curbing child marriage in certain states.

C

The impact of poverty on the prevalence of child marriage in India.

D

The disparity in child marriage rates between urban and rural areas of India.

E

Answer

B, Explanation: The recent Lancet study on child marriage in India primarily highlights concerns regarding the effectiveness of policy interventions in curbing child marriage, particularly in states like West Bengal. Despite the implementation of initiatives like the Kanyashree Prakalpa Scheme, certain states have experienced a surge in the incidence of child marriages, raising questions about the efficacy of these interventions.

Instruction

19

What is the primary objective of the Peregrine Mission One?

A

To establish a permanent human settlement on the Moon.

B

To conduct scientific experiments to study lunar geology and environment.

C

To mine lunar resources for commercial purposes.

D

To demonstrate the capabilities of private space enterprises in lunar exploration.

E

Answer

D, Explanation: The primary objective of Peregrine Mission One is to demonstrate the capabilities of private space enterprises in lunar exploration. Spearheaded by Astrobotic Technology and United Launch Alliance; this mission signifies a shift towards leveraging the capabilities of the private sector for space exploration.

Instruction

20

What is the primary aim of the Square Kilometer Array Observatory (SKAO)?

A

To construct and maintain a network of advanced radio telescopes for celestial research.

B

To establish a central hub for coordinating global radio astronomy efforts.

C

To exclusively focus on studying gravitational waves using radio telescope technology.

D

To operate a single massive telescope for observing celestial phenomena.

E

Answer

A, Explanation: The main objective of the Square Kilometre Array Observatory (SKAO) is to develop and manage a network of cutting-edge radio telescopes dedicated to celestial research.

Instruction