27 According to official data released in New Delhi in October 2011, with regard to direct taxes, the gross mop-up was 23 per cent higher at Rs. 2,57.042 crore in the first-half of 2011- 12 against Rs.2,08,971 crore garnered during the same period last fiscal, mainly on account of higher realization during the first quarter.
(1) House Tax
(2) Wealth Tax
(3) Corporate tax
(4) All of the above
28. Which of the follovving is/are the major findings of the official data for the period, April-July, 2011, released in New Delhi on October 7, 2011?
(I) Import of products of small-scale industries such as umbrellas, locks, toys and glassware went up by 50.4 per cent to Rs.659.83 crore
(2) Import of milk, tea and coffee witnessed a decline 41.8 per cent and 5.8 per cent, respectively
(3) Foodgrains imports
dropped by 92.1 per cent
(4) All of the above
29. The new draft Telecom Policy unveiled by Union Communications Minister Kapil Sibal in New Delhi in October 2011 targets convergence of in a bid to offer superior service experience to consumers.
(1) Mobile telephony
(2) Multimedia
(3) Broadcast services
(4) All of the above
30. Which of the following statements is/are true regarding the draft Telecom Policy unveiled by Union Communications Minister Kapil Sibal in October 2011?
(1) It likens' broadband col n nectivity to basic necessities like health and education
(2) It proposes to work towards a :Right to Broadband- for every citizen
(3) It aims to achieve 175 million broadband connec Lions by 2017
(4) All of the above
31. In the lIP (Index of Industrial Production) data released in New Delhi on October 12, 2011, industrial growth remained tepid at _in. August, 2011, as compared to 4.5 per cent in August 2010.
(1) 4.2 per cent
(2) 4.1 per cent
(3) 4.3 per cent
(4) 3.9 per cent
32. As per the HP (Index of Industrial Production) data released in October 2011, factory output during August 2011 rose by a mere as compared to 4.7 per cent in 2010.
(1) 2.5 per cent
(2) 3.5 per cent
(3) 4.5 per cent
(4) 3.9 per cent
33. Inaugurating the India Electricity 2011, the 6th International Exhibition and Conference on Power Sector in New Delhi in October 2011, Power Minister Sushi! Kumar Shinde announced that over of capacity was under construction for being available in the XII Plan (2012-17).
(1) 80,000 MW
(2) 60,000 MW
(3) 100,000 MW
(4) 50,000 MW
34. As per the WPI (Wholesale Price Index) data for September released in New Delhi in October 2011, what was the main reason behind the still high inflation rate for the month for September 2011?
(1) Food articles
(2) Vegetables
(3) Manufactured Products
(4) All of the above
35.. Which Of the following statements regarding exports imder Chapters 61 and 62 of the Foreign Trade Poi iey and i.itnnounced in New Delhi in Sep tember 2011, is correct?
(1) Exports of items under Chapters 61 and 62 • have shown a declining Trend during 201(1)11
(2) Total exports to
der Chapters 61 and 62 declined cluring 2010-201 I
(3) This sector has high potential to achieve higher level of exports and generate great einploynient op port unities
(4) All of the above
38. Which of the following statements related to the Foreign Trade Policy 2009-2014 an nounced in October 201 1 is/ are correct?
(1) It was decided to extend Market Linked Focus Product Scheme (MLFPS) for exports to U.S. ancl FU under Chapters 61 and 62
(2) Items under. Chapters 61 and 62 were granted duty credit under MLFPS for export to U.S. till September 30, 2010, and for EU up to March 2011
(3) At present, readyniade garments are not covered under FPS/MLFPS
(4) All of the above
37. The World Steel Association, in October -2011., forecast that India's steel consuMption is: likely to grow by. 4.3 per cent to reach 67.7 Million tonnes due to economic growth.. In 2012, the growth rate will accelerate to
(1) 5.2 per cent
(2) 6.4 per cent
(3) 7.9 per cent
(4).8.1 per cent
39. The Union Government constituted a panel headed by Planning Commission member, B. K. Chaturvedi in October 2011 to look into proposed relocation of NTPC's 1,980-MW North Karanpura plant in
(1) Orissa
(2) Jharkhand
(3) Chhattisgarh
(4) Andhra Pradesh
40. Prime Minister Manmohan Singh went into a huddle with his top advisers and officials on October 15, 2011, to take, stock of the economic situation in the backdrop of an uncertain global environment. The review came at a time
(1) When inflation was at an '!uncomfortable" high
(2) Fears of a slide in growth
(3) Ahead of monetary policy review
(4) All of the above
41. The Department of Public Enterprises (DPE), under the Ministry of Heavy Industries and Public Enterprises, in October 2011 directed that IVIaharatna companies to set aside at least 1 per cent of their profit after tax (PAT) for expenditure on
(1) Labour welfare
(2) Health welfare
(3) Research and Development
(4) Environmental awareness
42. Inaugurating the fourth International Civil Aviation Negotiation (ICAN) conference in Mumbai on October 17, 2011, President Pratibha Patil said that in the period from 2005 to 2010, considerable money had been invested in airport development in the' country. What is the amount that the President specifically mentioned'?
ECONOMY : Objective Questions
(1) $5 billion
(2) $10 billion
(3) $15 billion
(4) $20 billion
43. At the 'Economic Editors' Conference' in New Delhi on October 19, 2011, on the issue of black money, Finance Minister Pranab Mukherjee said that
(a) A huge information network had been created through amended DTAAs (double taxation avoidance agreements) with 81 na tions.
(b) India has entered into four 'IIEAs (tax information exchange agreements) with four tax havens, for investigations into transactions by Indians involving black money based on information received from different parts of the world were in progress.
Select the correct answer using the codes given below:
(1) Both a and b
(2) Neither a nor b
(3) Only a
(4) Only b
44. Prime Minister's Economic Advisory Council (PMEAC) Chairman C. Rangarajan, on October 20, 2011, pitched for rollback of the excise duty stimulus that was provided to the industry to combat the slowdown in the wake of the global meltdown in
(1) 2007 (2) 2008
(3) 2009 (4) 2010
45. In a report titled 'Doing Busi ness 2012: Doing Business in a More Transparent World' which was released in October 2011, the World Bank and the International Finance Corporation said that between June 2010 and May 2011
(a) India still ranks low over-
all in the Doing Business
assessment, with its rank
improving marginally from
139 to 132 between the
2011 and 2012 reports.
(b) There were 245 business regulatory reforms worldwide, which was 13 per cent more reforms than in the previous year among whom China, India, and the Russian Federation are among the 30 economies that improved the most over time.
Select the correct answer us-
ing the codes given below:
(1) Neither a nor b
(2) Both a and b
(3) Only a
(4) Only b
46. Planning Commission Deputy Chairman Montek Singh. Ahluwalia. on October 22, 2011, pitched for a cut in subsidies and higher revenue generation to facilitate increased funding of priority areas during the 12th Plan (2012-17). Which of the following areas were cited by him as priority areas?
I I) Education and health
(2) Infrastructure and water management
(3) Skill development
(4) All of the above
47. The Union Cabinet on October 25, 2011, gave its approval to the long-awaited ambitious National Manufacturing Policy (IMP), which seeks to
(1) Set up mega industrial zones
(2) Create 100 million jobs by 2022
(3) Put India on a par with manufacturing powers such as China and Japan
(4) All of the above
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