National Income estimates in India is prepared by
Answer: B
National income estimates are prepared by the Central Statistical Organisation.
The CSO, in the Ministry of Statistics and Programme Implementation, has compiled them since 1954, publishing the annual National Accounts Statistics. It is now part of the National Statistical Office.
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If the cash reserve ratio is lowered by the RBI, its impact on credit creation will be to
Answer: A
Credit creation will increase.
The credit multiplier is the reciprocal of the reserve ratio: \[\text{deposit multiplier} = \frac{1}{CRR}\] A lower CRR leaves banks more of each deposit to lend, so a given cash base supports more credit. Raising the CRR contracts credit in the same way.
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Indian Planning Commission was constituted in
Answer: C
The Planning Commission was constituted in 1950.
It was set up in March 1950 by a Cabinet resolution, with the Prime Minister as chairman, and prepared the First Five Year Plan for 1951-56. It had no constitutional or statutory basis, which is why it could be replaced by executive decision in 2015.
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Through the 1990s, the average rate of gross domestic savings for the Indian economy was estimated to be in the range of
Answer: B
It was in the range of 20 to 25 per cent.
The gross domestic savings rate rose from about 10 per cent in the 1950s to the low twenties by the 1990s, and past 30 per cent in the mid-2000s. Households contribute the largest share, followed by the corporate sector; the government has often dissaved.
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National Rural Employment Programme started in ?
Answer: B
The National Rural Employment Programme started in 1980.
It replaced the Food for Work Programme and provided wage employment on public works in the slack agricultural season, with wages paid partly in foodgrain. It was merged into the Jawahar Rozgar Yojana in 1989.
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Decimal coinage was introduced in India in the year
Answer: B
Decimal coinage was introduced in 1957.
From 1 April 1957 the rupee was divided into 100 naye paise, replacing the old division into 16 annas or 64 pice. The word 'naya' was dropped in 1964.
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The period of 10th Plan in India is
Answer: C
The Tenth Plan ran from 2002 to 2007.
It targeted 8 per cent growth and set monitorable targets for poverty, literacy, infant mortality and forest cover - the first plan to do so. Growth averaged about 7.6 per cent.
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Tax clearance certificate is required for
Answer: B
It is required for a person leaving India.
Under section 230 of the Income-tax Act, a person not domiciled in India, and in some cases a resident leaving the country, must obtain a certificate that no tax is outstanding or that satisfactory arrangements have been made to pay it.
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Reserve Bank of India issues all currency notes except
Answer: A
The RBI issues every note except the one-rupee note.
The one-rupee note is issued by the Government of India under the Coinage Act and bears the Finance Secretary's signature; every higher denomination is an RBI note signed by the Governor.
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The association of the rupee with pound sterling as the intervention currency was broken in
Answer: C
The link was broken in 1992.
The rupee had been pegged to a basket in which sterling was the intervention currency. Following the 1991 crisis, the Liberalised Exchange Rate Management System of 1992 introduced a dual rate, and full current-account convertibility followed in 1994.
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