Economy by Fazal

1. Shrinkflation refers to
Ans:- Practice of reducing the size(weight) of a product while the price of the
product remains the same

2. Haircut in economy refers to

Ans:- A haircut is the difference between the loan amount and the actual value of
the asset used as collateral.
In the context of loan recoveries, it is the difference between the actual dues from a
borrower and the amount he settles with the bank.

3. Zombie lending refers to

Ans:- The practice of providing credit to entities that do not have the capability to
repay.

4. A windfall tax is a
Ans:- higher tax rate on sudden big profits levied on a particular company or
industry.

5. Participatory notes are

Ans:- Financial instruments used by investors which are not registered with SEBI to
invest in Indian securities

6. Escrow account is
Ans:- an account where funds or assets are held in trust by a third party whilst two
or more parties complete a transaction

7. Initial coin offering is

Ans:- An unregulated means of raising fund for project using cryptocurrencies. An
initial coin offering (ICO) is an event where a company sells a new cryptocurrency to
raise money. Investors receive cryptocurrency in exchange for their financial
contributions. In many ways, an ICO is the cryptocurrency version of an initial public
offering (IPO) in the stock market.

8. _______would be major port set up on "Landlord Model".

Ans:- Major Port at Vadhavan near Dahanu in Maharashtra

9. The regulatory body in landlord model is

Ans: The publicly governed port authority acts as a regulatory body and as

Economy by Fazal 1

AMIGOS IAS || Ph: 9000230734, 9000230735

Economy by Fazal

landlord while private companies carry out port operations —mainly cargo-
handling activities.

10. Factoring in economy is

Ans:- a transaction where an entity sells its receivables (dues from a customer) to a
third party (a ‘factor’ like a bank or NBFC) for immediate funds.
Under the transaction between both parties, the factor would pay the amount due
on the invoices minus its commission or fees.

11. Project Insight is launched for

Ans: To monitor high value transactions and detect tax evaders using technology to
curb circulation of black money (launched by IT department, M.o.Finance)

12. GDP deflator refers to

Ans: Nominal GDP/Real GDP X 100

13. National Domestic Product refers to

Ans:- NDP = GDP- depreciation

14. Gross National Product refers to

Ans:- GNP= GDP± Factor Income from Abroad

15. First scientific method to compute National Income in 1931-32 was used by
Ans:- Dr. V.K.R.V.Rao.
The first attempt to calculate the national income of India was made by Dadabhai
Naoroji in 1867 – 68 and Scientific Method was by Dr. VKRV Rao.

16. National Statistical commission was formed under the recommendations of

Ans:- Rangarajan Commission

17. The current base year for GDP calculations on constant prices is
Ans:- 2011-12.

18. Green GDP means

Ans: Monetisation of loss of biodiversity

19. Gross Environment Product (GEP) means

Ans: It is an assessment system to measure ecological status.
It is one of the components of green GDP.
Uttarakhand government has announced that it will initiate valuation of its natural
resources in the form of ‘Gross Environment Product’ (GEP).

Economy by Fazal 2

AMIGOS IAS || Ph: 9000230734, 9000230735

Economy by Fazal

20. If the economy is Laissez faire meaning

Ans: There is no role of the government in economic affairs

21. Electricity, Gas and Water supply is part of the following sector
Ans: Secondary Sector

22. List of things not included in the calculations of GDP are

Sales of goods that were produced outside our domestic borders
Sales of used goods (Second Hand Products)
Illegal sales of goods and services (The black market)
Transfer payments made by the government
Intermediate goods that are used to produce other final goods(These are shown in
GVA)

23. If taxes increase, GDP at Market price_______(Keeping the factor cost as

constant)
Ans: Increases
GDP@MP = GDP@FC + NIT

24. ____________committee submitted its report on a new underdevelopment index

called Composite development index
Ans: - Raghuram Rajan Committee

25. Economic growth can be measured by

Ans: GDP, GNP and GVA

26. Green Future Index is published by

Ans: MIT Technology Review Insight
Iceland, Denmark and the Netherlands are the countries most prepared for a low-
carbon future. India ranks at 42 as per 2022 report and 21 as per 2021 report.

27. Inclusive development index is published by

Ans:- World Economic Forum

28. The monetary policy framework is operated by

Ans: RBI

29. The inflation target is decided by the __X__in consultation with ___Y___
Ans:- X = Government of India , Y = RBI

30. The inflation target is

Ans:- The inflation target is 4% with a band of +/- 2%

Economy by Fazal 3

AMIGOS IAS || Ph: 9000230734, 9000230735

Economy by Fazal

31. The Currency and Finance Report is issued by

Ans: RBI

32. The Flexible Inflation Target (FIT) was adopted in

Ans: 2016

33. The amended Act provides for the inflation target to be set by the Government, in
consultation with the RBI
Ans: once in every five years

34. To control the price rise, the Centre in 2016 gave a mandate to the RBI to keep the
retail inflation at 4% with a margin of 2% on either side for a five-year
period ending
Ans: 31st March, 2021

35. The inflation target for the period 1 st April, 2021 to 31st March, 2026 under the
Reserve Bank of India Act 1934 has been kept at
Ans: 4 (+/-) 2%

36. The Reserve Bank of India was set up on the basis of the recommendations of
Ans:- Hilton Young Commission

37. The Reserve Bank was nationalised in

Ans:- 1949.

38. The four All India Financial Institutions are

Ans:- NABARD, NHB, EXIM Bank and SIDBI

39. London Interbank Offered Rate (LIBOR) is administered by the

Ans:- Intercontinental Exchange or ICE based on world’s top most currencies

40. Qualitative tools used by RBI are

Ans:- Selective credit controls , moral suasion , Consumer credit regulation etc

41. Quantitative tools used by RBI are

Ans:- Liquidity Adjustment Facility, Marginal standing facility, Bank rate , etc

42. First Governor of RBI

Ans: Sir Osborne Smith

43. "Rapid Credit Facility" & "Rapid Financing Instrument" are credit facilities of
Ans:- IMF

44. Employment Elasticity of Growth refers to

Ans:- (% change in employment) / (%change in GDP)

Economy by Fazal 4

AMIGOS IAS || Ph: 9000230734, 9000230735

Economy by Fazal

45. Agriculture Census is conducted every _ years

Ans:- 5

46. The Ministry of Agriculture & Farmers Welfare launched Agriculture census
Ans: “The Eleventh Agricultural Census (2021-22)”

47. As per the UNCTAD World Investment Report (WIR) 2022, India has moved to ___
rank in its analysis of the global trends in FDI inflows
Ans:- 7th

48. Tax Buoyancy is equal to

Ans: (% change in tax revenue) / (%change in GDP)

49. Integrated Ombudsman Scheme launched in Nov 2021 applicable on

Ans:- Banks, Non Banking Financing Companies (NBFCs), Payment System Providers
and Credit Information Companies (CIC)

50. Surveys published by RBI are

Ans:- Consumer Confidence Survey (CCS), Inflation Expectations Survey (IES),
OBICUS Survey, Industrial Outlook Survey (IOS), Services and Infrastructure Outlook
Survey (SIOS), Bank Lending Survey (BLS), Survey of Professional Forecasters (SPF)

51. As per the world Bank, the present international poverty line is
Ans:- $1.90 per capita per day.
Here on, this will be updated to $2.15

52. The first estimate of poverty is made by

Ans: Dadabhai Naoroji in his book "Poverty and the Unbritish rule in India”.

53. Which committee recommended state specific poverty line

Ans:- D.T.Lakdawala committee

54. The value of Zero - regarding Gini coefficient refer to

Ans:- Perfect equality

55. World inequality report is published by

Ans: World inequality lab

56. World employment and social outlook is released by

Ans:- ILO

57. When unemployment tends to be a long term feature of a country it is called

Ans:- Chronic unemployment

Economy by Fazal 5

AMIGOS IAS || Ph: 9000230734, 9000230735

Economy by Fazal

58. The all India time use survey, 2019 is published by

Ans:- Ministry of Statistics and Programme Implementation.

59. Beveridge curve of UV curve represents relationship between

Ans:- Unemployment rate ( x axis) and Job vacant rate ( y axis)
The number of unfilled jobs expressed as a proportion of the labour force

60. Wholesale price index is published by

Ans:- DPIIT, Ministry of commerce and industry

61. CPI-IW, CPI - AL, CPI-RL is published by

Ans:- Labour bureau

62. Headline inflation is based on

Ans:- CPI ( Combined)

63. Which carries the highest weight in computation of CPI food index
Ans:- Cereals and products

64. GOI appointed which committee to examine whether Producer Price Index
should be introduced in India or not
Ans:- B. N. Goldar committee

65. Which products are excluded in Core inflation computation

Ans: food items and energy ( fuel and power) products.

66. Philips curve reflects the relationship between

Ans: rate of inflation and rate of unemployment

67. Housing price index is published by

Ans: RBI

68. Residex India’s first official housing price index was an initiative of
Ans: National Housing Bank(NHB)

69. Professional tax is levied and collected by

Ans:- State Government

70. Google tax or equalisation levy was introduced based on the recommendations of
which committee
Ans:- Akhilesh Ranjan committee on the taxation of e-Commerce

71. Integrated GST ( IGST) is levied and collected by

Ans:- central government, but the revenue is shared between centre and state

Economy by Fazal 6

AMIGOS IAS || Ph: 9000230734, 9000230735

Economy by Fazal

72. National Anti -Profiteering authority is related to

Ans:- GST

73. Laffer curve represents the relationship between

Ans:- tax rates and the amount of tax revenue collected by the government.

74. Financial secrecy index was unveiled by

Ans:- Tax justice network.
Financial secrecy facilitates tax abuse, enables money laundering and undermines
the human rights of all

75. Broad money includes

Ans:- Time deposits with banking system + currency with public + demand deposits
with banking system + other deposits with RBI

76. Which are called as liabilities of bank

Ans:- Gold deposits, demand drafts, Fixed deposits, unclaimed deposits etc

77. Monetary policy report is published by

Ans:- RBI

78. NABARD was established on the recommendations of which committee

Ans:- B. Sivaraman committee

79. The chairman of public sector banks is selected by

Ans:- Banks board Bureau

80. The first masala bond was issued by

Ans: International Finance corporation (IFC)
Rupee denominated bonds

81. Who regulates money market and capital market

Ans:- Money market is regulated by RBI and Capital market is regulated by SEBI

82. What are the major credit rating agencies in India

Ans:- CRISIL Ltd, CARE, ICRA

83. Global food security index is published by

Ans:- Economist Intelligence unit (Economist Impact)

84. With reference to land reforms in India, Operation Barga was launched in which
state
Ans:- West Bengal

Economy by Fazal 7

AMIGOS IAS || Ph: 9000230734, 9000230735

Economy by Fazal

85. What are the eight core industries

Ans:- Refinery products, Electricity, Steel, coal, crude oil, natural gas, cement,
fertilisers

86. Board for Industrial and Financial reconstruction(BIFR) is setup regarding

Ans:- Sick Industrial companies ( Industrial sickness)

87. Global energy transition index is published by

Ans:- World economic forum

88. As per economic survey 2020-2021- India is ____ largest energy consumer in the
world
Ans:- 3rd largest after US and China

89. National Water way 2 is along

Ans:- Sadiya-Dubri stretch in Assam, along Brahmaputra river

90. Balance of invisibles under current account of balance of payments include

Ans:- Services, income and transfers ( gifts, donations, software, etc)

91. In which sectors the FDI is prohibited in India

Ans:- Nidhi company, Gambling and betting, Chit funds, Lottery business, Atomic
energy

92. India's foreign exchange reserves include

Ans:- Foreign Currency Assets, Monetary Gold Reserves, SDRs, Reverse Tranche
Position in IMF

93. Twin deficits refers to

Ans:- Fiscal Deficit and Current Account Deficit

94. International Investment Position(IIP) is compiled by

Ans:- RBI
IIP is the balance sheet of the stock of external financial assets and liabilities

95. ___________banks continue to be identified as Domestic Systemically Important

Banks (D-SIBs)
Ans:- SBI, ICICI Bank and HDFC Bank

96. Bad bank constitutes of

Ans:- NARCL (National Asset Reconstruction Company Ltd.) and IDRCL (India Debt
Resolution Company Ltd.)

Economy by Fazal 8

AMIGOS IAS || Ph: 9000230734, 9000230735

Economy by Fazal

97. NARCL (National Asset Reconstruction Company Ltd.) which will be majority
(>51%) owned by
Ans:- Public Sector Banks.

98. IDRCL (India Debt Resolution Company Ltd.) will be majority (>51%) owned by
Ans:- Private sector banks

99. Economic Survey is prepared by

Ans:- Chief Economic Advisor (CEA)
Department of Economic Affairs, Ministry of Finance

100. Who heads the 'Economic Division' under Department of Economic

Affairs, Ministry of Finance
Ans:- Chief Economic Advisor (CEA)

101. Agriculture Orientation Index (AOI) refers to

Ans:- Share of Govt. expenditure in Agriculture out of total Govt. expenditure/
Share of Agriculture GDP in total GDP.
The Agriculture Orientation Index (AOI) for Government Expenditures is defined
as the Agriculture share of Government Expenditure, divided by the Agriculture
value added share of GDP, where Agriculture refers to the agriculture, forestry,
fishing and hunting sector.

102. Effective Capital Expenditure, which was introduced in Budget 2022 refers
to
Ans:- Capital Expenditure by Central Govt. PLUS Grants given to states for creation
of capital assets.

103. _________________monetary policy increases the total supply of money

more rapidly than the usual
Ans:- Expansionary policy also called ‘Dovish’ or ‘Accommodative’ or ‘Easy Money
Policy’

104. _______________ monetary policy expands the money supply slowly than
the usual or even reduces it
Ans:- Contractionary policy also called ‘Hawkish’ or ‘Tight Money Policy’

105. Call money rate is

Ans:- The rate at which short term funds are borrowed and lent in the money
market.

106. Call money is

Ans:- Interbank lending system

Economy by Fazal 9

AMIGOS IAS || Ph: 9000230734, 9000230735

Economy by Fazal

107. LIBOR is calculated based on ____________methodology

Ans:- Waterfall Methodology

108. A windfall tax is a

Ans:- higher tax rate on sudden big profits levied on a particular company or
industry.

109. E-kuber is the core banking solution of the

Ans:- RBI

110. Marginal standing facility is ___% of NDTL

Ans:- 2%

111. According to BASEL-II norms, banks should maintain a minimum capital

adequacy requirement of ___% of risk assets (CRAR/CAR)
Ans:- 8% as per Basel and 9% as per RBI

112. ____________ conducts voluntary inspection of SCARDBs, apex-level co-

operative societies and federations.
Ans:- NABARD

113. Regional Rural Banks (RRB) are under the supervision of

Ans:- NABARD

114. Source for NABARD is

Ans:- Rural Infrastructure Development Fund (RIDF)

115. ____ is the sole authority for the issue of currency and coins in India.
Ans:- RBI

116. __________is the most commonly used measure of money supply and is
also called "aggregate monetary resources".
Ans:- M3 ( M3 = Currency with the Public + Demand deposits of public with banks +
Time deposits of public with banks) or M3 = M1 + Time deposits of public with
banks

117. The total liability of the Monetary Authority (RBI) of the country is called
Ans:- Monetary Base or High Powered Money or Reserve Money [M0]

118. Money Multiplier is equal to

Ans:- Money supply (M3) / Monetary base ( Reserve Money -M0)

119. _____ has set up the Clearing Corporation of India Ltd. (CCIL)
Ans:- RBI

Economy by Fazal 10

AMIGOS IAS || Ph: 9000230734, 9000230735

Economy by Fazal

120. "Payments Infrastructure Development Fund (PIDF)"will be managed and

administered by
Ans:- RBI

121. Lead Bank Scheme is administered by

Ans:- RBI since 1969

122. First Indian RBI governor :

Ans:- C.D.Deshmukh

123. Payment banks can accept a max. of _____ amount as deposits

Ans:- 2 Lakhs Enhancement of limit of maximum balance per customer at end of
the day from ₹1 lakh to ₹2 lakh – Payments Banks (PBs) by RBI

124. Residex index is launched by

Ans:- National Housing Bank

125. The first DFI ( Development Financial Institution ) established in India in

1948 was
Ans:- Industrial Finance Corporation of India (IFCI)

126. Monetary Policy Committee (MPC) is required to meet at least ___ times
in a year.
Ans:- 4

127. Business Reforms Action Plan is prepared by the

Ans:- Department for Promotion of Industry and Internal Trade (DPIIT)

128. At present, treasury bills are issued in ___ maturities

Ans:- 3 maturities - 91-day, 182-day and 364-day.

129. The first mega food park in the country is

Ans:- Srini mega food park at Chittoor in Andhra Pradesh

130. India Post Payments Bank (IPPB) has been established under
Ans:- Department of Posts, Ministry of Communication with 100% equity owned by
Government of India

131. What are the loan products under PM MUDRA Yojana

Ans:- Shishu: Covering loans up to Rs. 50,000.
Kishore: Covering loans above Rs. 50,000 and up to Rs. 5 lakh.
Tarun: Covering loans above Rs. 5 lakh and up to Rs. 10 lakh.

Economy by Fazal 11

AMIGOS IAS || Ph: 9000230734, 9000230735

Economy by Fazal

132. __________ has constituted an ‘Advisory Board for Banking Frauds (ABBF)’
to examine bank fraud of over ₹50 crore and recommend action.
Ans:- Central Vigilance Commission (CVC)

133. Budget is prepared by

Ans:- The Budget Division, Department of Economic Affairs, Ministry of Finance

134. 100% organic state in India is

Ans:- Sikkim

135. __________ has launched Wealth Redistribution Council

Ans:- Japan (To reduce inequalities)

136. ________has recently become one of the first countries to make

cryptocurrency, Bitcoin, legal tender in the country.
Ans:- El Salvador(Bitcoin as legal currency)

137. What is the value of the offence to describe Fugitive Economic Offender
Ans:- Atleast Rs. 100crore

138. Firms with an interest coverage ratio lower than one are unable to meet
their interest obligations from their income and are categorized as
Ans:- Zombie firms

139. Zombie lending refers to

Ans:- The practice of providing credit to entities that do not have the capability to
repay.

140. _________ has launched the world’s first sovereign blue bond
Ans:- The Republic of Seychelles

141. West Texas Intermediate', refers to a grade of

Ans:- Crude oil

142. _____________is responsible for maintaining the country's strategic

petroleum reserves
Ans:- Indian Strategic Petroleum Reserves Limited (ISPRL)

143. Stagflation is characterized by

Ans:- slow growth and high unemployment

144. The concept of a relative price rise of one or a group of commodities is

referred to as
Ans:- Skewflation.

Economy by Fazal 12

AMIGOS IAS || Ph: 9000230734, 9000230735

Economy by Fazal

145. Seasonal Unemployment can be seen in

Ans:- Agriculture, tourism etc

146. India is ___ largest importer of crude oil

rd
Ans:- 3

147. Squared poverty gap index determines

Ans:- the degree of poverty in a given area

148. What are the dimensions of poverty considered under Multi-dimensional

poverty index
Ans:- Education, Health and Standard of living

149. N.C.Saxena committee set up by Ministry of Rural Development is

associated with
Ans:- BPL Census in rural areas

150. Which economic survey has introduced the concept of Bare necessities
index
Ans:- Economic survey 2020-21
The Finance Ministry in its Economic Survey for 2020-21 has introduced a new
metric to gauge progress on the quality of bare necessities available such as
drinking water, sanitation, shelter, electricity and LPG called the Bare Necessities
Index (BNI).

151. Frictional unemployment is common phenomenon in

Ans:- Industrial sector

152. MGNREGA seeks to provide ___ days of guarantee wage employment to

every rural household
Ans:- 100 days

153. According to MGNREGA guidelines, at least _________of the beneficiaries

shall be women who have registered and requested work under the programme.
Ans:- one-third

154. GOI in 2012 appointed ________committee to review the wholesale price

index methodology.
Ans:- Dr.Saumitra Chaudhuri

155. Base year for CPI-Agricultural labourer is

Ans:- 1986-87 – CPI AL
2016 – CPI IW

Economy by Fazal 13

AMIGOS IAS || Ph: 9000230734, 9000230735

Economy by Fazal

156. Flexible inflation target to be set by GOI once in every ___ years in
consultation with RBI
Ans:- 5 years

157. ‘e-way bill’ track intra-state as well as inter-state movements of goods of

value exceeding ________ rupees
Ans:- Rs 50,000

158. The Harmonized System, or simply ‘HS’, is a six-digit identification code

developed by the
Ans:- World Customs Organization (WCO).

159. Laffer curve is the graphical representation of

Ans:- tax rate and tax revenue

160. Name some tax haven countries

Ans:- Hong Kong , Bermuda, cayman islands

161. The “grandfathering” clause , related to taxation is

Ans:- a special provision by which a person, institution or any entity can be
exempted from a new law, rule or regulation.

162. Angel Tax is a ___% tax that is levied on the funding received by startups
from an external investor.
Ans:- 30%

163. ____________ is the nodal agency dealing with disinvestments of

Government of India .
Ans:- Department of Investment and Public Asset Management (DIPAM) under the
Ministry of Finance

164. Masala Bonds are _______-denominated borrowings issued by Indian

entities in overseas markets.
Ans:- Rupee

165. If the actual fiscal deficit is more than what was expected, is called
Ans:- Fiscal slippage

166. Fiscal Marksmanship refers to

Ans:- precision or accuracy of forecasts, targets and estimates in, say a budget
making exercise. ( this term was used in Economic survey 2012-13)
“The difference between actual outcomes and budgetary estimates as a proportion
of GDP”.
If the difference between what the government projected as the likely tax revenues

Economy by Fazal 14

AMIGOS IAS || Ph: 9000230734, 9000230735

Economy by Fazal

in the Budget and the actual figures a year later is large then it reflects poor fiscal
marksmanship.

167. ____________refers to tax planning strategies used by multinational

enterprises that exploit gaps and mismatches in tax rules to avoid paying tax.
Ans:- Base erosion and profit shifting (BEPS)

168. The concept of Place of Effective Management (PoEM) is related to

Ans:- Curb the flight of taxes and determine the residential status of foreign
companies.

169. Merger of Railway Budget into General Budget happened from _____ year
onwards
Ans:- 2017-18

170. The 15th Finance commission used the data of _____ census
Ans:- 2011

171. “The Macro Economic framework statement” document is presented

before parliament because this is mandated by
Ans:- Provisions of Fiscal Responsibility and Budget Management Act, 2003.

172. NITI Aayog has adopted __________type of planning structure

Ans:- Perspective planning

173. The main objective of twelfth five year plan is

Ans:- Faster, Sustainable and more inclusive growth

174. The RBI governor is appointed by ”X” on the recommendation of the “Y”.
Identify X and Y
Ans:- X = Prime Minister's Office (PMO) , Y = Union Finance Minister (as per Section
8(1)(a) of the Reserve Bank of India Act, 1934)

175. Who is present Governor of RBI

Ans:- Shaktikanta Das

176. _______ is the only currency note which bears the signature of Finance
secretary?
Ans:- One rupee note

177. The marginal cost of funds-based Lending rate is the

Ans:- Minimum interest rate below which a bank cannot lend.

Economy by Fazal 15

AMIGOS IAS || Ph: 9000230734, 9000230735

Economy by Fazal

178. ___________ maintains a consolidated sinking fund with the RBI as a

buffer for repayment of liabilities
Ans:- State Governments

179. Consolidated sinking fund of RBI is maintained by

Ans:- Central Accounts section of RBI Nagpur

180. ______________ is the ex-officio chairperson of Monetary Policy

committee
Ans:- RBI Governor

181. A scheduled commercial bank should have paid up capital and reserves of
not less than _______ rupees
Ans:- Rupees 5 lakh

182. In which year Imperial Bank of India was nationalised as State Bank of
India
Ans:- 1955

183. RRBs are owned by Central govt., concerned state govt. and sponsor
banks in the proportion of
Ans:- 50:15:35 (Before Amendment) 51:49 (After amendment where 49% will be
with private)

184. The minimum paid-up capital required for setting up LAB ( Local Area
Banks) is
Ans:- INR 5 crores.

185. The concept of Differentiated banking was introduced by RBI, based on

Ans:- Nachiket Mor Committee recommendations

186. National Automated clearing house is the product/service of

Ans:- National Payments corporation of India (NPCI)

187. *99# service which works on Unstructured Supplementary service Data

was launched by
Ans:- National Payments corporation of India
*99# (USSD-based mobile banking service) enables offline sending & receiving
funds, balance inquiry & setting/changing UPI PIN besides a host of services.

188. ___________ is the financial instrument (Bill of exchange) evolved on the

Indian sub-continent during medieval period.
Ans:- Hundi

Economy by Fazal 16

AMIGOS IAS || Ph: 9000230734, 9000230735

Economy by Fazal

189. Merchant Discount Rate (MDR) is the

Ans:- Fee paid by a merchant to a bank for accepting payment from their
customers via digital means

190. Zero-Rupee Note is a bank note imitation issued to raise awareness about
bribery and systemic political corruption are distributed by
Ans:- NGO-5th pillar (5th Pillar org)

191. As per RBI, a loan/advance on which interest or principal amount is

pending for __ days or more is considered as Non performing Asset
Ans:- 90 days

192. ____________ is a legislation that allows banks and financial institutions

to tackle the problem of NPAs through different procedures
Ans:- The Securitisation and Reconstruction of Financial assets and Enforcement of
Security Interest Act ( SARFESI act)

193. Basel norms are prescribed by the

Ans:- Bank for International Settlements (BIS)

194. Justice M.B.Shah committee, 2014 is related to

Ans:- Investing black money (To probe black money)

195. Shankar Acharya committee, 2016 is related to

Ans:- Feasibility of a new Financial Year (Change the financial year to Jan-Dec)

196. Suresh Mathur committee, 2018 is related to

Ans:- Reviewing the regulatory frame work of Micro-Insurance
Increasing the insurance penetration in the country

197. Surjit Bhalla committee,2019 is related to

Ans:- Elephant Bonds
Trade and Policies

198. An Elephant Bond is a ____-year sovereign bond

Ans:- 25 year
This bond is issued to those people who declare their previously undisclosed
income and are then bound to invest 50% of that amount in these securities.
The fund gathered by the issuance of these bonds is utilized to
finance infrastructure projects only.

199. Nandan Nilekani committee 2019 is related to

Ans:- Deepening of Digital payments

Economy by Fazal 17

AMIGOS IAS || Ph: 9000230734, 9000230735

Economy by Fazal

200. The Lead bank scheme is based on

Ans:- Service Area Approach

201. Kisan Credit Card scheme was introduced in the year

Ans:- 1998

202. Small Finance banks have to be allocated _____ percent of Adjusted Net
Bank Credit for Priority sector lending
Ans:- 75%

203. Public credit registry is a digital platform by RBI to

Ans: Capture and store financial information of borrowers in India

204. Legal tender money is

Ans:- money which a creditor is under compulsion to accept in settlement of his
claims

205. Tenure of Cash management bills is

Ans:- Less than 91 days

206. _______ is the first urban local body to issue municipal bonds in India
Ans:- Bangalore Municipal corporation

207. ____________ recently became the first city to list municipal bonds on the
NSE
Ans:- Indore
Indore Municipal Corporation has become the first civic body in the country
to list its municipal bonds in the National Stock Exchange (NSE).
Lucknow becomes the 1st city from North India to list its municipal corporation
bonds on BSE. In a first for North India, Lucknow Municipal Corporation bonds to
be listed at the Bombay Stock Exchange.

208. Sovereign Gold bond scheme has a fixed tenure of __ years

Ans:- eight
The tenure of the bond is 8 years, early encashment/redemption of the bond is
allowed after fifth year from the date of issue on coupon payment dates

209. _____________ is the India’s first Sovereign Wealth Fund

Ans:- National Investment and Infrastructure Fund

210. ESG (Environment, Social and Governance) Fund is regulated by

Ans:- SEBI

211. Santiago principles are related to

Ans:- Sovereign Wealth Fund

Economy by Fazal 18

AMIGOS IAS || Ph: 9000230734, 9000230735

Economy by Fazal

212. ______ is responsible for managing the Investor Protection Fund

Ans:- SEBI

213. T+2 settlement cycle is related to

Ans: Stock exchanges

214. The base year of SENSEX is

Ans:- 1978-79

215. Discount and Finance House of India is a primary dealer and subsidiary of
Ans:- SBI

216. International Financial Services Centres Authority – GIFT city is located in

Ans:- Gandhinagar in Gujarat

217. Indian Energy Exchange is regulated by the

Ans:- CERC ( Central Electricity Regulatory commission )

218. Indian Gas Exchange is regulated by

Ans:- Petroleum and Natural Gas Regulatory Board

219. Mention few global credit rating agencies

Ans:- Fitch, Moody’s and S&P

220. Green revolution was restricted to ____ crops

Ans:- Wheat, rice, maize, jowar and bajra

221. Examples of ratoon cropping are

Ans:- sugarcane, banana, pineapple etc

222. _____________ host an estuarine agricultural system called Khazan

farming
Ans:- Low lying flood plains of Goa

223. Duration of Agriculture Infrastructure Fund is

Ans:- 10 years (2020-21 to 2029-30)

224. Agricultural Marketing and Farm Friendly Reforms Index" is released by

Ans:- NITI Aayog

225. Grey revolution is related to

Ans:- Fertilisers

Economy by Fazal 19

AMIGOS IAS || Ph: 9000230734, 9000230735

Economy by Fazal

226. Agreement on Agriculture was negotiated during _______ round

Ans:- Uruguay round of GATT

227. Zamindari system was introduced by

Ans:- Lord Cornwallis

228. Mahalwari system was introduced by

Ans:- Lord William Bentinck, Holt Mackenzie

229. As per seventh schedule of Indian constitution, land comes under

__________ list
Ans:- State list

230. T.Haque committee is related to

Ans:- Model Land leasing

231. ______________ became the first state in India to grant industry status to
sports.
Ans:- Mizoram

232. ____________ policy considered as the “Economic Constitution of India”

or the Bible of State Capitalism
Ans:- Industrial policy resolution of 1956

233. Annual survey of Industries is published annually by

Ans:- National Statistical Office (NSO) (ASI is principal source of industrial statistics
in India) Ministry of Statistics and Programme Implementation

234. Baba Kalyani committee is related to

Ans:- Special Economic Zones in India

235. National Productivity council comes under

Ans:- Department for Promotion of Industry and Internal Trade , Ministry of
Commerce and Industry

236. Nivesh Bandhu portal is related to

Ans:- food processing sector

237. National Real estate development council was established under the aegis
of
Ans:- Ministry of Housing and Urban Affairs

238. Total Investment planned under National Infrastructure pipeline is

Ans:- 102 lakh crore rupees

Economy by Fazal 20

AMIGOS IAS || Ph: 9000230734, 9000230735

Economy by Fazal

239. Indian government has __ % stake in National Investment and

Infrastructure fund.
Ans:- 49%

240. National Biogas and Manure Management Programme is being

implemented by
Ans:- Ministry of New and Renewable Energy

241. Global Infrastructure Facility was launched by

Ans:- World Bank

242. ____________Index is used to measure the PPP between nations by

comparing the price of Mc.Donald’s Big Mac burger
Ans:- Big Mac Index

243. Which are called Bretton Wood Twins

Ans:- IMF and IBRD

244. Global Housing watch was launched by

Ans:- IMF
Tracks developments in housing markets across the world on a quarterly basis

245. In which of the World Bank group constitutes, India is not a member
Ans:- ICSID

246. Asian Development Bank has ______ member countries

Ans:- 68

247. Electronic holding of the shares replacing the paper securities is called
Ans:- Dematerialization of securities

248. As per the National Manufacturing Policy, the land area of a National
Investment and Manufacturing Zone is to be minimum___________
Ans:- 5000 Hectares

249. “Gresham’s Law” in Economics is related to

Ans:- Circulation of currency
“bad money drives out good”

250. Under 59 minutes loan portal what is the maximum loan for MSME under
59 minutes?
Ans:- PSB loans in 59 mins (1 crore)

251. Ramesh Chand committee is associated with

Ans:- Revision of Wholesale Price Index

Economy by Fazal 21

AMIGOS IAS || Ph: 9000230734, 9000230735

Economy by Fazal

252. Kuznets curve shows relationship between

Ans:- economic growth and inequality.

253. Palma ratio means

Ans:- Ratio of Income of the top 10 per cent of households to the bottom 40 per
cent. which shows Income Inequality as per OECD data

254. LEADS INDEX is developed by the

Ans:- Ministry of Commerce and Industry

255. SAMARTH Udyog is an Initiative of

Ans:- Ministry of Heavy Industries and Public Enterprises for the adoption of
Industrial Revolution 4.0 in Indian Manufacturing sector

256. National coal index is developed by

Ans:- Indian Statistical Institute, Kolkata.

257. (EBA)Enabling the business of agriculture report is published by

Ans:- World Bank

258. Kimberley Process Certification Scheme (KPCS) is related to

Ans:- Diamonds

259. COBWEB PHENOMENON explains

Ans:- large scale fluctuations in prices of Pulses in Indian Market.
This refers to a phenomenon where the prices of certain goods witness
fluctuations that are cyclical in nature. It happens due to faulty producer
expectations, Over production this year considering previous years prices.

260. COBWEB PHENOMENON given by

Ans: Hungarian economist Nicholas Kaldor.

261. Services price index is published by the

Ans:- Office of Economic Advisor under Ministry for Commerce and Industry.

262. Enhance Access & Service Excellence 2.0 (EASE) reforms index is published
by
Ans:- Indian Banks Association on performance of public sector banks
Ministry of Finance and Corporate affairs.
State Bank of India, Bank of Baroda and Union Bank of India have won the awards for best
performing banks for PSB Reforms EASE 3.0 based on the EASE index.
Indian Bank won the award for the best improvement from the baseline performance

Economy by Fazal 22

AMIGOS IAS || Ph: 9000230734, 9000230735

Economy by Fazal

263. Which Finance Commission had recommended for establishment of an

independent fiscal council
Ans:- 13th / 14th /15th all three recommended fiscal councils

264. Indian pharmaceutical industry is the __ largest in the world by volume

Ans:- 3rd largest by volume and 14th largest in terms of value (Pharma Annual
report 2020-21)

265. Commodities Market Outlook report was published by

Ans:- World Bank
266. Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) for people in the age
group of ____years having a bank account
Ans:- 18 to 50 years

267. Pradhan Mantri Suraksha Bima Yojana (PMSBY) for people in the age
group _______years with a bank account
Ans:- 18 to 70

268. Atal Pension Yojana (APY) for all saving bank/post office saving bank
account holders in the age group of ______years
Ans:- 18 to 40

269. K-shaped recovery happens when different sections of an economy

recover at
Ans:- starkly different rates.

270. PRISM is a web-based end-to-end workflow automation system from RBI

to
Ans:- Strengthen compliance by supervised entities (SEs), including banks and non-
banking financial Companies

271. ________has become the first country to adopt India’s UPI standards for
its quick response (QR) code
Ans:- Bhutan

272. Sweat equity refers to

Ans:- Shares issued by a company to its employees for non-cash consideration
Sweat equity is a non-monetary benefit that a company's stakeholders give in labor
and time, rather than a monetary contribution, that benefit the company

273. ______________issued India’s first €300 million 7-year Euro Green Bond.
Ans:- Power Finance Corporation Ltd (PFC), leading NBFC in power sector

274. Anchor investors are

Ans:- Institutional investors who are invited to subscribe the shares before the

Economy by Fazal 23

AMIGOS IAS || Ph: 9000230734, 9000230735

Economy by Fazal

Initial Public Offers (IPOs)

Anchor investors, also referred to as cornerstone investors in some global markets

275. SCORES is an online platform designed to

Ans:- Help investors to lodge their complaints with SEBI against listed companies
and intermediaries

276. Ubharte Sitaare Fund has been set up by

Ans:- Exim Bank and Small Industries Development Bank of India (SIDBI).

277. The Ministry which has launched Ubharte Sitaare Alternative Investment
Fund to facilitate debt and equity funding to export-oriented MSMEs is
Ans: Ministry of Finance

278. High proportion of NPA’s especially for Public Sector Banks (PSB’s)
-8.6%

279. Gross NPA and Net NPA of Scheduled Commercial Banks (SCB’s) by 2021
Sept
-6.9%
-2.2%

280. Enhanced Access and Service Excellence (EASE) 5.0 reforms is for
-Public Sector Banks (PSB’s)

281. Credit growth for Scheduled Commercial Banks (SCB’s)

-9.2%
282. Platform for Regulated Entities for Integrated Supervision and Monitoring
(PRISM) is related to
-Banking

283. Regulatory Review Authority 2.0 is to reduce

-Compliance burden on Regulated Entities (RE’s)

284. Prompt Corrective Action (PCA) is to

-Strengthen the banks, Supervisory initiatives

285. Provision Coverage Ratio (PCR) of Scheduled Commercial Bank’s (SCB’s) is

-68.1%

Economy by Fazal 24

AMIGOS IAS || Ph: 9000230734, 9000230735

Economy by Fazal

286. Annualised Return on Assets (RoA) and Return on Equity (RoE) for Public
Sector Banks’s
-Turned positive in 2020 after remaining negative since March 2016

287. Payment Vision 2025 is the agenda of

Reserve Bank of India

288. GDP considers overall production in an economy, where as GVA considers

Ans: Sector wise analysis

289. If the GDP is real then

Ans: It is calculated based on base year (2011-12)

290. Base year is calculated considering the prices

Ans: Neither in Inflation nor Deflation
291. Economy which allows both exports and imports
Ans: Open Economy

292. Economy where there is no trade

Ans: Closed Economy

293. In an open economy where more investments happen in India and least are
bound to happen outside the country then its economy
Ans: GDP>GNP

294. In an open economy where most of its nationals tend to move the
economic activity abroad or earn more from investing abroad compared to doing
business in India then
Ans: GNP>GDP

295. Formula for calculations of GDP using expenditure method

Ans: GDP@Exp = C+I+G+(X-M)

296. The meaning of the qualitative tool Moral Suasion is

Ans: Moral Suasion – is a credit control method of the RBI. Moral Suasion means the
use of compulsion or informal suggestion by the RBI on Commercial banks for the
condition of Credit Policy.
RBI here uses its commanding power over commercial banks to implement the credit
policy.

Economy by Fazal 25

AMIGOS IAS || Ph: 9000230734, 9000230735

Economy by Fazal

297. In banking, the term ‘Bankers Bank’ (RBI being bankers bank)
Ans: The Reserve Bank of India acts as a lender of last resort and a bankers' bank.
It provides credit to banks in times of need and other banks retain their deposits
with the RBI.
The RBI also advises the commercial banks on monetary matters.

298. The term ‘Net Demand Time Liabilities’ includes

Ans: Both the current and savings account, Time liabilities such as Gsec, Tbills
investments

299. Net Demand includes

Ans: Both Current and Savings account on which interest is paid only on savings but
not on current account

300. Over draft policy is applicable only to

Ans: Current account holders

301. The term LAF (Liquidity Adjustment Facility) includes

Ans: Only the Repo and Reverse Repo Rate

302. Bank Rate option is for those banks whose

Ans: Preference is for Long term, Loans with out any collaterals, Interest rates are
higher than Repo

303. Marginal Standing Facility (MSF) means

Ans: Banks are allowed to use SLR portfolios i.e 2% of NDTL as collaterals

304. Inter bank lending rate system is

Ans: Call Money

305. Rate charged on Call Money

Ans: Call Rate

306. Call Rate is set by

Ans: Mumbai Inter bank offer rate

307. What are OMO’s

Ans: Sale and purchase of G-sec between RBI and GOI

308. Sterilization is performed when

Ans: Dollar ($) exceeds Rupee supply in the market

Economy by Fazal 26

AMIGOS IAS || Ph: 9000230734, 9000230735

Economy by Fazal

309. Market stabilization scheme (MSS) is performed by

Ans: RBI, when it is in need of money and is short fall of securities, which are offered
by GOI

310. Standing deposit facility is performed when

Ans: Money supply exceeds in the market during extreme events
Eg: Demonetization

311. Bureau of International Settlement (BIS) is a

Ans: Bankers Bank, Apex bank for all the Apex banks, sets basel norms

312. Capital Risk Adequacy Ratio (CRAR) is set by basel bank at

Ans: 8%

313. RBI has set the CRAR at

Ans: 9%
314. The compulsory lending set by RBI to all the banks is
Ans: Priority sector lending

315. PSL target is set at

Ans: 40%

316. Areas covered under PSL category

Ans: Agriculture, Micro, Small and Medium Enterprises, Export Credit, Education, Housing,
Social Infrastructure, Renewable Energy

317. Targets of PSL for Individual banks in various categories

Ans:
1. Domestic scheduled commercial banks and foreign banks with 20 branches and
above: Target is 40% PSL
2. Foreign banks with less than 20 branches: 40% PSL(32% can be in the form of
lending to Exports and not less than 8% can be to any other priority sector)
3. Regional Rural Banks: 75% PSL (lending to Medium Enterprises, Social
Infrastructure and Renewable Energy shall be reckoned for priority sector
achievement only up to 15 per cent)
4. Small Finance Banks: 75% PSL
5. Primary Urban Cooperative Banks: 75% (by 31st March 2024)

318. Foreign Banks with less than 20 branches, PSL loans are
Ans: 40% PSL
32% can be in the form of lending to Exports and not less than 8% can be to
any other priority sector

Economy by Fazal 27

AMIGOS IAS || Ph: 9000230734, 9000230735

Economy by Fazal

Agriculture: Not applicable

Micro Enterprises: Not applicable
Weaker sections: Not applicable

319. PSL targets for Small and Marginal Farmers

Ans: Agriculture: 18%
Small and Marginal: Earlier 8%
: Target revised to 10%

320. Weaker section targets under PSL

Ans: 12% PSL

321. Micro Enterprises Weaker targets under PSL

Ans: 7.5% PSL

322. Primary Urban Cooperatives targets under PSL

Ans: 75% (by March31,2024)

323. New areas included in PSL category

Ans: Startup Loans given up to 50crores
Loans installation of solar power plants
Compressed bio gas plants
Health Infrastructure: 5cr (earlier) now it is doubled to 10cr (Presently)
Renewable Energy: 30cr
Schools, drinking water, sanitation: 5cr

324. Rural Infrastructure Development Fund (RIDF) is the major source of

Ans: Nabard

325. Small enterprises development fund (SEDF) is the major source of

Ans: SIDBI

326. During inflation, the loan to value(L2V)

Ans: Decreases

327. During inflation, Marginal Requirements

Ans: Increases

328. Liquidity trap in an economy result into

Ans: Zero lower bonds

Economy by Fazal 28

AMIGOS IAS || Ph: 9000230734, 9000230735

Economy by Fazal

329. Three important presidency banks are

Ans: Presidency Bank of Bengal- 1806
Presidency Bank of Bombay- 1840
Presidency Bank of Madras- 1843

330. In 1955, the Imperial bank was transformed into

Ans: SBI (1st July 1955)

331. Coins and Currency if Fiat then

Ans: They will have a legal protection and are bound to be accepted in market

332. Rs 125 commemorative coin to mark the 125th birth anniversary of ISKCON's
founder was launched by GOI
Ans: ISKCON founder Srila Bhaktivedanta Swami Prabhupada

333. New coins issued by GOI on occasion of AKAM

Ans: Re 1, Rs 2, 5, 10 and 20 denominations will have the Azadi Ka Amrit Mahotsav
(AKAM) design.
These are not commemorative coins.

334. Can the commemorative coins be made as FIAT

Ans: Yes, if circulated by RBI

335. Into which category the differentials banks fall into

Ans: Commercial banks

336. List of differentials banks

Ans: RRB, LAB, WSB, SFB and Payment banks

337. Facilities covered under Payment banks

Ans: Deposits restricted to 2lakhs, cannot lend loans or credit cards.
They handle both current and savings account
They provide debit cards but not credit cards

338. Payment banks were established based on the recommendations of

Ans: Nachiket Mor committee

339. Acts applicable to Payment banks

Ans: They are registered under the Companies Act 2013 but are governed by a host
of legislations such as Banking Regulation Act, 1949; RBI Act, 1934; Foreign Exchange
Management Act, 1999, Payment and Settlement Systems Act, 2007

Economy by Fazal 29

AMIGOS IAS || Ph: 9000230734, 9000230735

Economy by Fazal

340. Payment banks in India

Ans: 6 Payment Banks namely, Airtel Payment Bank, India Post Payment Bank, Fino,
Paytm Payment Bank, NSDL Payment Bank and Jio Payment Bank.

341. List of Scheduled Payment banks

Ans: Airtel Payment Bank, India Post Payment Bank, Fino, Paytm Payment Bank

342. Regional rural banks were set up on the recommendation of

Ans: The Narasimham Working Group (1975)

343. For the regional rural banks the share of Central, State and Sponsor Bank is
Ans: 50%,15% and 35%

344. India’s first payment bank license was given to

Ans: Airtel

345. Regulator of AIFI’s EXIM, NABARD, NHB, SIDBI

Ans: RBI

346. MUDRA bank accounts are classified into

Ans: Shishu, Kishore, Tarun

347. Railway budget was separated from General budget on the

recommendations of
Ans: Acworth Committee

348. Committee suggested to restructure Indian Railways

Ans: Bibek Debroy

349. Strategic Disinvestments are considered in the following account of budget

Ans: Capital Receipts

350. Subsidies are considered in the following account of budget

Ans: Revenue Expenditures

351. Sale of T bills by GOI is covered under the following account

Ans: Capital Receipts

352. Goods and Services Taxes are covered under the account
Ans: Revenue Receipts (Indirect Taxes)

Economy by Fazal 30

AMIGOS IAS || Ph: 9000230734, 9000230735

Economy by Fazal

353. Finance bill, which is passed along with the budget gives
Ans: Finance bill gives powers to GOI to collect taxes

354. Appropriation bill, which is passed along with the budget gives
Ans: Appropriation bill gives power to GOI to withdraw money from CFI

355. Department which will take responsibility of disinvestments

Ans: DIPAM (Department of Investment and public asset management)

356. Central board of Direct Taxes, Central board of IT and Customs falls under
Ans: Department of Revenue

357. Economic Survey is prepared by

Ans: Department of Economic Affairs, Ministry of Finance

358. Budget is prepared by

Ans: Budget Division, Department of Economic Affairs, Ministry of Finance

359. Primary deficit=

Ans: PD=Fiscal Deficit – Interest payments

360. Minimum Alternate Taxes (MAT) introduced as a substitute to

Ans: Corporate Taxes

361. MNC/Corporates pay

Ans: Corporate tax or MAT

362. Co-operatives pay

Ans: Alternate Minimum Tax (AMT)

363. Surcharge and CESS are

Ans: Tax on Tax concept

364. The following is Tax on Tax, General and moves into Consolidated Fund of
India
Ans: Surcharge

365. Tax on Tax which is introduced for emergency purpose

Ans: CESS Eg: Sugar CESS

366. Tax which is levied on foreign investors to reduce volatility in share market

Economy by Fazal 31

AMIGOS IAS || Ph: 9000230734, 9000230735

Economy by Fazal

Ans: Tobin Tax

367. Tax which is levied due to negative externalities on health and environment
Ans: Pigovian Tax

368. Tax which is levied at the entry point of the good from one area to another
Ans: Octroi

369. Laffer Curve shows the relationship between

Ans: Tax Revenue and Tax Rate

370. Double Taxation Avoidance Agreement (DTAA) resulted into

Ans: The concept of Round Tripping

371. 15th Finance Commission is headed by

Ans: NK Singh

372. The term of 15th Finance Commission

Ans: 1st Report (2020-21)
2nd Report (2021-26)

373. E-Sahyog Initiative

Ans: Income Tax Dept (Ministry of Finance)

374. Important projects implemented during First five year plan

Ans: Mettur, Hirakud, Bhakra Nangal

375. Important project implemented during Second five year plan

Ans: Durgapur, Bhilai, Rourkela

376. Bombay Plan was initiated by

Ans: Eight Industrialist like John Mathai, P das, JRD Tata, GD Birla

377. Gandhian Plan was submitted by

Ans: SN Agarwal

378. People’s Plan was submitted by

Ans: MN Roy

379. Rolling Plan was initiated by

Ans: Janata Government (M Desai Govt)

Economy by Fazal 32

AMIGOS IAS || Ph: 9000230734, 9000230735

Economy by Fazal

380. In the recent covid scenarios, which of the following Recovery model
showed wide disparities in the income levels of the individuals?
Ans: K shape

381. In a scenario where the Reserve Bank of India reduces the Statutory Liquidity
Ratio by 25 basis points, which of the following is likely to happen?
Ans: Scheduled Commercial Banks may reduce their lending rates

382. Economic growth is usually coupled with

Ans: Inflation

383. The following tool is maintained to a limit in order to show that the
government is more into expenditure than its receipts.
Ans: Fiscal Deficit

384. What is meant by Tax haven?

Ans: A country which offers foreign individuals and businesses little or no tax liability
in a politically and economically static environment.

385. The type of Inflation which is essential for job creation and economic
growth
Ans: Creeping Inflation

386. The type of Inflation which is very extreme

Ans: Galloping inflation

387. The following Inflation which is not measured in India

Ans: Producer Price Index (PPI)

388. The following type of Inflation which considers both Goods and Services
Ans: Consumer Price Index (CPI)

389. This type of inflation is created when aggregate demand is higher than the
supply rate
Ans: Demand – Pull Inflation

390. Data of CPI for rural or urban or combined data is given by

Ans: Central Statistical Office (CSO)

391. Stagflation means

Ans: Unemployment coupled with steady inflation

Economy by Fazal 33

AMIGOS IAS || Ph: 9000230734, 9000230735

Economy by Fazal

392. It is a phase from deflation to inflation where the GOI follows the policy of
fiscal stimulus
Ans: Reflation

393. It is a negotiable financial instrument issued by a company in a foreign

jurisdiction when its IPO’s are still uncleared in Indian Market
Ans: Depository Receipt (DR)

394. Only bank which has authority to issue Electoral Bond

Ans: State Bank of India

395. Its main objective is to provide safe guard against macro economic risk in
the market and these bonds are linked to CPI
Ans: IIB (Inflation Index Bond)

396. These are issued by commercial banks and also other financial institutions
which are used to stabilize the market during inflation.
Ans: Certificates of deposits

397. Which of the following is a type of unemployment where people employed

are more than actually needed
Ans: Disguised Unemployment

398. It is the situation when people lose their jobs due to advancement in
technologies
Ans: Structural Unemployment

399. This graph states the relation between the inflation and unemployment
Ans: Phillips curve

400. This graph represents the inequality situation within a population.

Ans: Lorentz curve

401. These are the set of people who fluctuate around the poverty line
Ans: Churning Poor

402. In the concept of fixed rate system if the central agencies strengthen the
domestic currency which is referred as
Ans: Revaluation

Economy by Fazal 34

AMIGOS IAS || Ph: 9000230734, 9000230735

Economy by Fazal

403. The term ‘Dirty Floating’ mean

Ans: Managed Floating System, in which supply demand criteria initially tries to fix
the rate system if not central agencies will interfere to control the fluctuations.

404. WPI data is published by

Ans: Office of Economic Advisor, Ministry of Commerce and Industry

405. CPI data is published by

Ans: CSO, Ministry of Statistics and Program Implementation

406. In the Index of Industrial Production IIP, the highest weightage is given to
Ans: Manufacturing

407. In the Index of Industrial Production IIP, the least weightage is given to
Ans: Electricity

408. The world bank group constitutes of

Ans: IBRD, IDA, IFC, MIGA, ICSID

409. Paper Gold calculations were used by

Ans: IMF

410. In IMF, the Paper Gold calculations were replaced by

Ans: Special Drawing Rights (SDR)

411. SDR includes

Ans: Dollar, Pound, Yen (Renminbi), Yuan, Euro

412. Number of times India borrowed loan from IMF

Ans: Twice (1981-82 (3.9bn SDR), 1991-92(3.56bn SDR))

413. Any reform in IMF needs to have a minimum majority of

Ans: 85%

414. The highest share holder in IMF is with

Ans: USA

415. The ex-officio governor of the Board of Governors of IMF will be

Ans: The finance minister of every member country

Economy by Fazal 35

AMIGOS IAS || Ph: 9000230734, 9000230735

Economy by Fazal

416. Largest shareholders in IMF

Ans: US. Japan, China

417. Executive board of IMF consists of

Ans: 24 members (16+8), India part of 8-member group

418. India and its group in IMF includes

Ans: India, Bangladesh, Bhutan, Sri Lanka

419. The eight member group in executive board of IMF includes

Ans: US, Japan, Russia, UK, France, Germany, Saudi Arabia, China

420. Executive director of IMF representing Indian group

Ans: Presently Surjith Bhalla,
From 1st Nov -Krishnamurthy Subramanian
421. Chief Economist of IMF representing India
Ans: Earlier: Gita Gopinath
Presently: Pierre – Olivier Gourinchas

422. Managing director of IMF

Ans: Kristalina Georgieva

423. The countries which believe in liberal trade referred as

Ans: Economic Liberalist (Liberalism)

424. The trade which is not concerned about welfare of global market
Ans: Economic Merchantalism (Merchantalist)

425. Tools used in case of promoting the policy of protectionism

Ans: Tariff and Non-Tariff barriers

426. Non Tariff barriers inorder to protect domestic goods includes

Ans: Subsidies, Cutting down electricity charges, Cutting down Interest rates, import
quotas, plans, programs and schemes

427. USA post great economic depression, in order to protect its domestic goods
passed
Ans: Smoot Hawley tariff act 1930

Economy by Fazal 36

AMIGOS IAS || Ph: 9000230734, 9000230735

Economy by Fazal

428. In International trade, what is beggar thy policy

Ans: One country attempt to remedy its economic problems by means that tends to
worsen the problem of other countries

429. The proposal of ITO never became reality as

Ans: US rejected it post 1929 Great Economic Depression (GED)

430. The concept of Protocol for Provisional Application (PPA) applies only to
Ans: GATT (General Agreement on Tariff and Trade)

431. Important subjects included in WTO, which were not part of GATT
Ans: Services, IPR, Non-Tariffs

432. What are the important principles of WTO

Ans: Reciprocity, Most Favoured Nation, National Treatment

433. India gave MFN status to

Ans: India to Pakistan in 1996 (Scrapped by India in 2019)
Article 1 of General Agreement on Tariffs and Trade (GATT), 1994, requires every
World Trade Organization (WTO) member country to accord MFN status.

434. Article 21(B) issues in WTO is related to

Ans: MFN status

435. Countries having Article 21 (B) issues of MFN

Ans: Article 21 disputes in the past between

Czechoslovak (Socialist Republic) and the U.S. (1949);
The U.S. and Nicaragua (1983 and 1985) and between
The European Communities and former Yugoslavia (1992)

436. The highest decision-making body/ Supreme decision-making body of WTO

is
Ans: Ministerial Conference

437. The General Council of WTO includes

Ans: Dispute Settlement Body
Trade Policy Review Body

Economy by Fazal 37

AMIGOS IAS || Ph: 9000230734, 9000230735

Economy by Fazal

438. When a foreign country makes a deliberate attempt to reduce the prices of
its goods compared to its own market in order to impact the foreign market by
creating demand for its goods then the domestic country in order to protect its
domestic goods can levy
Ans: Anti-Dumping Duty

439. When a foreign countries prices of its goods compared to its own market
are similar and it still impacts the foreign market by creating demand for its goods
then the domestic country in order to protect its domestic goods can levy
Ans: Counter Vailing duty

440. Agreement on Agriculture (AoA) and Agricultural subsidies are the

outcomes of the following summit
Ans: Doha Summit

441. As per AOA, the subsidies limit allowed by WTO for the developing
countries
Ans: 10% (10bn $) which is equal to 1 bn $

442. What are the three boxes covered under WTO

Ans: Green, Amber, Blue

443. As per WTO norms, Allied activities are covered under

Ans: Blue box

444. The subsidies, plans and programs which distort the trade are given to its
domestic producers will be covered under
Ans: Amber box

445. Considering trade, the world is divided into first world, second world and
third world as per
Ans: ECOSOC (United Nations Economic and Social Council)

446. WTO will regulate certain technical issues using

Ans: Technical barriers to trade (TBT)
Sanitary and Phytosanitary Measures (SPS)

447. Trade Facilitation agreement (TFA) of WTO was initiated as part of

Ans: Bali Summit

448. Summit which initiated the concept of ‘Export Subsidies’

Ans: Nairobi Subsidies

Economy by Fazal 38

AMIGOS IAS || Ph: 9000230734, 9000230735

Economy by Fazal

449. The Generalised System of Preference list (GPS) is maintained by

Ans: USA (If USA imports goods from 3rd world countries, then USA will charge zero
taxes or low taxes)

450. Global System of Trade Preferences (GSTP) is an

Ans: Agreement between developing countries and Least Developed Countries to
reduce the trade barriers
UNCTAD is the nodal agency which maintains the GSTP list

451. Special 301 Report is about

Ans: Prepared by USTR(United States Trade Representatives) agency of USA
List of those countries which harm the IPR of USA

452. Green Field Investments are those

Ans: A type of foreign direct investment (FDI) in which a parent company creates a
subsidiary in a different country, building its operations from the ground up.
Basically, a project starts from beginning.
453. Brown Field Investments are those
Ans: A brownfield investment occurs when a company or government entity
purchases or leases existing production facilities. The project which already exists.

454. What is VGF (Viability Gap Funding)

Ans: Viability Gap Funding is the grant provided to infrastructure projects that are
economically feasible but fall short of financing.
The system is designed as a Plan Scheme that will be administered by the Ministry of
Finance, and the budget amounts will be adjusted year to year.

455. In EPC model (Engineering Procurement Model)

Ans: Funded by GOI and Private works on best engineering and procurement model.

456. In case of Hybrid Model, which two important projects are associated
Ans: HAM = BOT + EPC
It’s a combination of Build Operate and Transfer Model and Engineering
Procurement Model

457. The project which (lit. 'India garland project') is a Road and Highways
project of the Government of India
Ans: Bharatmala

458. The project which makes all national highways free of railway crossings
Ans: Sethu Bharatam

Economy by Fazal 39

AMIGOS IAS || Ph: 9000230734, 9000230735

Economy by Fazal

459. Sagar Mala Project is to

Ans: The Sagarmala Programme is an initiative by the government of India to
enhance the performance of the country's logistics sector and to promote port-led
development in India.

460. Web Portal launched by ministry of road transport and highways

Ans: Inam Pro+
INAM-Pro+ is an upgraded version of INAM-Pro, the web portal designed by National
Highways and Infrastructure Development Corporation Ltd (NHIDCL) and launched
by the Ministry as a common platform to bring cement buyers and sellers together.
The portal facilitated comparison of price, availability of materials etc. and made it
very convenient for the prospective buyers to procure cement at reasonable rates in
a transparent manner.

461. What is India RAP Assessment

Ans: Globally supported road safety assessment programme for India tackling the
vital public health issue. It has a vision for an India free of high risk roads.

462. Global think tank which provides support for regulation of PPP, also
examines the stalled projects, management of contracts etc
Ans: 3P India

463. Government has signed a declaration on road safety and committed to the
reduction of road accidents by
Ans: Brasilia Declaration on road safety

464. These are the reserves which has huge stockpiles of crude oil to deal with
any crude oil-related crisis like the risk of supply disruption from natural disasters,
war or other calamities
Ans: SPR (Strategic Petroleum Reserves)

465. Locations of SPR’s

Ans: Under Phase I (3) locations, namely (i) Vishakhapatnam (ii) Mangaluru and (iii) Padur.
Under Phase II Chandikhol (Odisha) and Padur (TN) on Public-Private Partnership (PPP)
model

466. The world’s largest SPR’s are located at

Ans: First: USA
Second: China
467. India’s largest SPR is located at
Ans: Strategic Petroleum Reserves (SPR) at three locations with a capacity of 5.33

Economy by Fazal 40

AMIGOS IAS || Ph: 9000230734, 9000230735

Economy by Fazal

MMT located at Vishakhapatnam (1.33 MMT), Mangalore (1.50 MMT) and Padur (2.5
MMT).
468. The extra charge being collected by OPEC countries from Asian countries
when selling oil, and India has been voicing its dissent against this practice which is
nothing but
Ans: Asian Premium.
469. West Texas Intermediate, which is in news is related to
Ans: Crude Oil
470. To which region Brent Crude oil is associated with
Ans: North Sea
471. What are the targets of Ethanol Blending in India
Ans: According to the Ministry of Petroleum and Natural Gas, India achieved 9.45%
ethanol blending as of March 2022
Target 10% by the end of the financial year 2022
20% from 2030 to 2025

472. Different shale reserves in India

Ans: The recoverable reserves are identified in Cambay, Krishna – Godavari, Cauvery,
Damodar Valley, Upper Assam, Pranahita – Godavari, Rajasthan and Vindhya Basins.
The ONGC has drilled the first exploratory shale gas well in Jambusar near Vadodara,
Gujarat, in Cambay basin during October 2013.

473. Worlds largest shale reserves are in

Ans: China

474. HR Khan and Tarapore Committee is associated with

Ans: Convertibility of domestic currency with respect to foreign currency

475. Issuer Pay Model is associated with

Ans: SEBI

476. A case where the financial institutions are required to pay interest for
parking excess reserves with the central bank and the central bank penalise
financial institutions for holding on to cash in hope of prompting them to boost
lending is
Ans: Negative Interest Rate

477. This is the oldest index in India and lists the top 30 companies
Ans: BSE and Sensex

Economy by Fazal 41

AMIGOS IAS || Ph: 9000230734, 9000230735

Economy by Fazal

478. NIFTY is the index of NSE which shows the

Ans: Top 50 lists of companies

479. ATM which is associated with e-Commerce

Ans: Yellow label ATM (Online Purchases)

480. ATM which is associated with Agriculture transaction

Ans: Green Label ATM

481. Pink label ATM is associated with

Ans: Maily to Women section

482. Orange label ATM is associated with

Ans: Mainly to share transactions

483. ATMs which uses security features like fingerprint scanner and eye scanner
of the customer to access the bank details
Ans: Biometric ATM’s

484. ATM’s which are located on branch site

Ans: Onsite ATM (Presence is within the bank)

485. ATMs whose presence is not within banks but are present within the
areas of bank branch
Ans: Off Site ATM

486. What are Stand alone ATM’s

Ans: Stand alone ATMs are similar to off- site ATMs except the fact, they are just the
machines and nothing else.
We usually find them in supermarkets and shopping malls.

487. These ATMs are not owned by the bank instead they are taken on lease to provide
the service to the customer.
Ans: Brown Label ATM

488. The first company authorized by the Reserve Bank of India (RBI) to open
White Label ATMs in the country
Ans: Tata Communications Payment Solutions Limited (TCPSL)
(Indicash)

Economy by Fazal 42

AMIGOS IAS || Ph: 9000230734, 9000230735

Economy by Fazal

489. The committee which recommended the gradual introduction of cash

transfers in place of PDS(Public Distribution System)
Ans: Shanta Kumar Committee

490. Committee recommended end to end computerisation to prevent

diversion, and to enable secure identification at ration shops
Ans: Justice Wadhwa Committee

491. Committee to improve the functioning of Food Corporation of India FCI, its
management, operations and efficiency
Ans: Shanta Kumar Committee

492. Minimum Support Prices are recommended by

Ans: Commission for Agricultural Costs and Prices (CACP)
The Commission for Agricultural Costs & Prices (CACP) is an attached office of the
Ministry of Agriculture and Farmers Welfare, Government of India.

493. The final decision on MSP prices are taken by

Ans: CCEA (Cabinet Committee on Economic Affairs) headed by Prime Minister of
India

494. The prices at which Government procures the crops to maintain the buffer
stock
Ans: Procurement Prices

495. Under the Open-Ended Procurement what are the food crops covered
Ans: Rice and Wheat

496. Sugar cane prices under MSP category are declared by

Ans: Central Government: Fair and Remunerative Prices (FRP)
State Government: State Advisory Prices (SAP)

497. The committee recommended to discontinue the system of levy prices

related to Sugar cane and sugar on mills
Ans: Levy prices are those where the mill owners have to mandatorily sell 10% of the
sugar to government.
C Rangarajan committee recommended to discontinue the levy prices

498. Mobile application which provides crop advisories to the farmers based on
the weather information and it is a joint initiative of India Meteorological
Department (IMD), Indian Institute of Tropical Meteorology (IITM) and Indian
Council of Agricultural Research (ICAR).

Economy by Fazal 43

AMIGOS IAS || Ph: 9000230734, 9000230735

Economy by Fazal

Ans: Meghdoot

499. The Mobile app has been developed by the Ministry of Agriculture and
Farmers Welfare for farmers to facilitate dissemination of information on Weather,
Market Prices, Plant Protection. Famers can learn advance farmers technology and
practices from this app.
Ans: Kisan Suvidha

500. Mobile crop advisory app for farmers, extension workers and gardeners
developed by PEAT GmbH, a Berlin-based AI startup and this app claims to
diagnose pest damages, plant diseases and nutrient deficiencies affecting crops
and offers corresponding treatment measures.
Ans: Plantix
501. A suite of mobile value-added services (VAS) to provide a variety of useful
information to women and women's self-help groups and this information is to
provide details about government schemes, health and social issues, besides inputs
related to and training in livelihood.
Ans: Sanchar Shakti Scheme

502. The application uses TTS (Text-To-Speech) software to help out farmers
by reading out loud SMS messages and benefiting those who may have difficulty in
reading which advices farmers to solve farming problems viz. fertilizer, weed
management, weather etc
Ans: Sandesh Pathak
503. The term ‘Mesta’ which is in news is related to

Ans: Jute crop

Economy by Fazal 44

AMIGOS IAS || Ph: 9000230734, 9000230735