Budget & Economic Survey - GS questions based on daily current affairs

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1)   Arrange the following states in descending order according to ease of doing business ranking.

1. Chhattisgarh
2. Madhya Pradesh
3. Maharashtra
4. Odisha
5. Andhra Pradesh

- Published on 06 Nov 15

a. 3, 1, 2, 4, 5
b. 5, 1, 3, 4, 2
c. 3, 4, 2, 5, 1
d. 5, 1, 2, 4, 3
Answer  Explanation  Related Ques

ANSWER: 5, 1, 2, 4, 3

Explanation:
India's top 10 states on the ease of doing business ranking

1. Gujarat – 71.14%
2. Andhra Pradesh- 70.12%
3. Jharkhand- 63.09%
4. Chhattisgarh- 62.45%
5. Madhya Pradesh – 62%
6. Rajasthan -61.04%
7. Odisha- 52.12%
8. Maharashtra -49.43%
9. Karnataka -48.50%
10. Uttar Pradesh - 47.37%

World Bank has released a state-wise report on the ease of doing business - a report in which Gujarat has topped with a score of 71.14%.
India is 142nd on the list of 189 countries.


2)   Which of the following statements is/are correct?

1. NBFCs does not hold a banking license.
2. NBFC can issue Demand Drafts like banks.

- Published on 01 Aug 15

a. Only 1
b. Only 2
c. Both
d. None
Answer  Explanation  Related Ques

ANSWER: Only 1

Explanation:
NBFC cannot accept demand deposits while NBFC cannot issue Demand Drafts like banks.


3)   Match the documents under provisions of the Fiscal Responsibility and Budget Management Act, 2003 as per their purposes –

A) Macro-economic framework ------------------------------------ i) explains how the current policies are in conformity with sound fiscal management principles and gives the rationale for any major deviation in key fiscal measures.
B) Fiscal Policy Strategy Statement ------------------------------- ii) contains an assessment of the growth prospects of the economy
C) Medium Term Fiscal Policy Statement ------------------------ iii) sets out three-year rolling targets for four specific fiscal indicators in relation to GDP at market prices
D) Medium Term Expenditure Framework Statement -------- iv) provide a closer integration between budget and the FRBM Statements.

- Published on 06 Aug 15

a. A-i; B-ii; C-iii; D-iv
b. A-ii; B-i; C-iii; D-iv
c. A-i; B-iii; C-iv; D-ii
d. A-iv; B-iii; C-i; D-ii
Answer  Explanation  Related Ques

ANSWER: A-ii; B-i; C-iii; D-iv

Explanation:
Under provisions of the Fiscal Responsibility and Budget Management Act, 2003, documents in the List 1 are to be presented along with the Union Budget. Medium-term Expenditure Framework Statement is presented separately in the session next to the session in which Budget is presented, i.e. normally in the Monsoon Session.


4)   What is G-33?
- Published on 06 Aug 15

a. Group of 33 developing countries
b. Group of 33 countries included some developed countries
c. Group of 46 developing countries
d. Group of 53 Asian countries
Answer  Explanation  Related Ques

ANSWER: Group of 46 developing countries

Explanation:
The G33 is a group of developing countries that coordinate on trade and economic issues. It was created in order to help a group of countries that were all facing similar problems. The G33 has proposed special rules for developing countries at WTO negotiations, like allowing them to continue to restrict access to their agricultural markets. Despite the name, there are currently 46 member nations.


5)   Which of the following conditions have given rise to the so called “balance sheet syndrome with Indian characteristics”?

1) Over-indebtedness of the Indian corporate sector
2) Policy Paralysis
3) PPP exposed public banks too corporate risks
4) Relatively high growth
5) High Inflation

- Published on 06 Aug 15

a. 1, 2 and 5
b. 1, 2, 3 and 5
c. 1 and 2
d. All of the above
Answer  Explanation  Related Ques

ANSWER: All of the above

Explanation:
No explanation is available for this question!


6)   Which of the following statement / s is / are correct?

1) There would be 100% deduction for contributions, other than by way of CSR contribution, to Swachh Bharat Kosh and Clean Ganga Fund.

2) Enabling provision to levy Swachh Bharat cess at a rate of 2% or less on all services.

3) Clean energy cess increased from Rs. 50 to Rs. 100 per metric tonne of coal, etc. to finance clean environment initiatives.

- Published on 06 Aug 15

a. 1 and 3
b. Only 3
c. 1, 2, 3
d. Only 1
Answer  Explanation  Related Ques

ANSWER: Only 1

Explanation:
Enabling provision to levy Swachh Bharat cess at a rate of 2% or less on all or certain services, if need arises. Clean energy cess increased from Rs. 100 to Rs. 200 per metric tonne of coal ,etc. Services by common affluent treatment plant exempt from Service-tax.


7)   The Padhe Bharat Badhe Bharat initiative is for
- Published on 06 Aug 15

a. Adult Literacy
b. Creating a base for reading, writing, and math fluency
c. Increasing enrollment of students for secondary education.
d. Increase number of girl students in secondary and higher secondary.
Answer  Explanation 

ANSWER: Creating a base for reading, writing, and math fluency

Explanation:
For it to be fruitful, it is critical that the local administration is fully involved and sensitized.


8)   Which of the following statement / s is / are correct?

1) India’s total fertility rate (TFR) is now 2.2. The Millennium Development Goal (MDG) has a target of TFR 2.1.

2) While the MDG for maternal mortality ratio (MMR) is 140 per 100,000 live births; India is estimated to reach 141 by 2015.

- Published on 06 Aug 15

a. Only 1
b. Only 2
c. Both 1 and 2
d. None of the above
Answer  Explanation  Related Ques

ANSWER: Only 2

Explanation:
India’s total fertility rate (TFR) is now 2.3.


9)   Top reasons for stalling projects across sectors are

1) Unfavorable market conditions.
2) Lack of non-environmental clearances
3) Lack of promoter interest
4) Fuel / feedstock / raw material supply problem.

- Published on 06 Aug 15

a. 1 and 2 only
b. 1, 2 and 3 only
c. 1, 2 and 4 only
d. All of the above
Answer  Explanation 

ANSWER: All of the above

Explanation:
The top reasons also include land acquisition problems.


10)   Which of the following statement / s is / are correct?

1) A National Rural Internet and Technology Mission for government service delivery has been started.

2) E-Kranti program has been started for services in villages and schools.

- Published on 06 Aug 15

a. Only 1
b. Only 2
c. Both 1 and 2
d. None of the above
Answer  Explanation  Related Ques

ANSWER: None of the above

Explanation:
A National Rural Internet and Technology Mission for services in villages and schools and E-Kranti for government service delivery are other initiatives..


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