Selected Questions from Indian Economy for SSC CGL Exam

 Selected Questions from Indian Economy for SSC CGL Exam

• Inflation, in theory, occurs when money supply grows at a higher rate than GDP in real terms.
• The existence of a large parallel economy, fluctuations in agricultural and industrial output and indirect taxation are the reasons for :      Cost-push inflation.
• Among the supply side measures to contain inflation is: to increase the supply of products or commodities.
• Population experts refer to the possible 'demographic bonus' that may accrue to India around 2016 A.D. They are referring to the phenomenon of: A surge in the population in the productive age groups.
• The significant change in the new FEMA which has replaced FERA is that the emphasis from imprisonment will be shifted to: Voluntary Compliance
• 'Level playing field' argument industries requires: Domestic industry to be treated at par with MNCs.
• One of the disadvantages of the Wholesale Price Index in India is that: It does not cover the service sector.
• Check-off system refers to the verification of membership through : deduction of subscription from pay.
• Direct taxation is a better form of taxation because: It allows for taxation according to means.
• Lender of the last resort, periodic inspection of commercial banks, issue of bank notes of all denominations are the functions of : Reserve Bank of India
• Multi Fibre Agreement deals with :Textiles
• Under the Medium Term Fiscal Restructuring Programme, state governments have been permitted to borrow from international financial institutions like the World Bank and Asian Development Bank to : replace their high cost debt with low cost funds.
• Open market operation of fiscal deficit was suggested by : Chakravarthy Committee.
• According to chakravarthy Committee, one of the principal causes affecting price stability in India is: Violent fluctuation in agricultural production.
• The concept of Total Fertility Rate(TFR) in population means the average number of children born to a woman during her lifetime.
• The first bank managed by Indians was :Oudh Bank
• The statement, "India has achieved national food security but has not ensured household food security" means: there is sufficient food stock but all households do not have access to it.
• The permit for duty free trade issued by the East India Company at a price to private traders was called: Diwani
• The demand for establishment of a department of agriculture in India was made by :Manchester Cotton Supply Association
• The birth rate measures the number of births during a year per : 1000 of population
• Structural unemployment arises due to :Inadequate productive capacity
• "Disguised unemployment" refers to : more persons employed for a job which a few can accomplish.
• The securities and Exchange Board of India (SEBI) has imposed a restriction on money flow in equity through "P-Notes". The full form of "P-Notes" is: Participatory Notes.
• The money which government of India spends on the development of infrastructure in country comes from the following sources- Loan from World Bank/ ADB etc. Taxes collected from the people, Loan from the RBI etc.
• "Investor Protection Fund" has been established by : Stock Exchange
• The full form of FII is: Foreign Institutional Investor
• The Union Government, on March 3, 2008, launched a conditional cash transfer scheme for the girl child. The conditions of this scheme include registration of birth of the girl, following a total immunisation schedule, school enrolment and delaying of marriage until the age of 18 years. The name of this scheme is :Dhan Laxmi
• The National Association of Software and Service Companies (NASSCOM), the premier trade body represents: the IT and BPO industry
• The largest consumer of natural gas in the world is : the USA
• The country which leads in oil-consumption in the world is : the USA
• The country which leads in Internet users in the world is : the USA
• World's leading gold producer country is: South Africa
• Entry for Normal Loss is recorded in :Trading Account
• In product life cycle, the cost per unit is generally highest in the stage of :Introduction
• Accounting acronym GAAP stands for :Generally Accepted Accounting Practices
• Limited Liability is available in the kind of business organisation called: Company
• Rank Account is called :Real Account
• The form of accounting states that transactions are to be recorded in the period that they occur is:  Accrual basis of accounting
• The most important ratio for the Sales Tax Department from the control point of view is :Gross Profit Ratio
• The most important ratio for the Income Tax Department from the control point of view is:  Net Profit Ratio
• The abbreviaion for debit and credit come from the language : Latin, 'debere and credere'
• A Public Limited Company tries to maximise: Wealth of Shareholders
• Anticipated losses are recorded in the books of accounts as per: Matching of Cost and Revenue
• Goodwill is recorded in the books of account only when : It is valued
• Depreciation Account is called: Nominal Account
• Monopoly is when there is single: Seller
• We can get the current ratio by :dividing current assets by current liabilities
• The major rubber producing state in India is: Kerala