SHANKAR IAS ACADEMYtm

DO NOT OPEN THIS BOOKLET UNTIL YOU ARE ASKED TO DO SO

T.B.C: P-SIA-D-UPGI PRESTORMINGTM TEST BOOKLET SERIES - 04

Serial: 737245 GENERAL STUDIES - PAPER - I A

TEST 4 – ECONOMICS - I
Time Allowed: Two hours Maximum Marks: 200

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1. Consider the following statements with Which of the statements given above is/are
reference to reports correct?

1. The Report on Currency and Finance is (a) 1 only

published by the RBI.
(b) 2 only
2. National Accounts Statistics is published by
(c) Both 1 and 2
the CSO
(d) Neither 1 nor 2
Which of the statements given above is/are
correct?

(a) 1 only 4. Consider the following statements in the

(b) 2 only context of Indian Public Finance:

(c) Both 1 and 2 1. Fiscal deficit is defined as an excess of total

expenditure over total receipts.
(d) Neither 1 nor 2
2. The upward trend in the ratio of Fiscal
deficit to GDP has an adverse effect on
2. Togalu Gombeyaata is a puppet show unique to
private investment.
the state of
Which of the statements given above is/are
(a) Andhra Pradesh
correct?
(b) Maharashtra
(a) 1 only
(c) Orissa
(b) 2 only
(d) Karnataka
(c) Both 1 and 2

(d) Neither 1 nor 2

3. Consider the following statement with reference
to National Tribal and North East Art Conclave.

1. The conclave platform features different 5. Gazaldoba barrage is built across which of the
forms of tribal art such as Cheriyal painters following rivers?
from Telangana, Patachitra art from
(a) Ganges
Odisha, fresco paintings from Rajasthan,
Bhil, Mina works and Paintings on leather (b) Brahmaputra
by artists from Andhra Pradesh.
(c) Teesta
2. The conclave is organized by the National
(d) Yamuna
school of drama under Ministry of Culture.

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6. Which of the following Goods/services are 8. A nominated Member to the Rajya Sabha may

excluded from the GST base? contribute funds under the Members of

Parliament Local Area Development Scheme

1. Electricity
(MPLADS) to the
2. Gold and jewellery
(a) District in his home state
3. Alcohol
(b) District from where the Member has been
Select the correct answer using the codes given nominated
below.
(c) District where minority population is so

(a) 1 and 2 only high

(b) 1 and 3 only (d) District located in anywhere of the country

(c) 2 and 3 only

(d) 1, 2 and 3 only 9. Consider the following statements with

reference to the Index of Industrial Production

(IIP):
7. Consider the following statements with
1. Index of Industrial Production is published
reference to Rewa Mega Multi Power Project
by the CSO.
1. Rewa Mega Multi Power project is located in
2. 2014-15 is the new base year of IIP.
Andhra Pradesh.
3. In the new series, ‘Manufacturing’ has the
2. The project has financial assistance from highest weight-age in the estimation of IIP.
International Finance Corporation (IFC).
Which of the statements given above is/are
Which of the statements given above is/are correct?
correct?
(a) 1 only

(a) 1 only
(b) 1 and 3 only

(b) 2 only (c) 2 and 3 only

(c) Both 1 and 2 (d) 1, 2 and 3

(d) Neither 1 nor 2

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10. Consider the following statements with 12. Consider the following statements with
reference to National Institutional Ranking reference to South Asia Sub regional Economic
Framework (NIRF): Cooperation (SASEC) Program

1. This framework outlines a methodology to 1. It was set up in 2001 with Bangladesh,

rank institutions across India only. Bhutan, India, Maldives, Myanmar, Nepal

2. The methodology draws from the overall and Sri Lanka as its members.
recommendations of broad understanding 2. SAARC serves as the Secretariat for the
arrived at a Core Committee set up by the SASEC member countries.
Ministry of Human Resource Development.
Which of the statements given above is/are
Which of the statements given above is/are
correct?
correct?
(a) 1 only
(a) 1 only
(b) 2 only
(b) 2 only
(c) Both 1 and 2
(c) Both 1 and 2
(d) Neither 1 nor 2
(d) Neither 1 nor 2

13. India and the UK announced the launch of an

11. Consider the following statements with
Early Market Engagement for the joint UK-
reference to Sodhganga
India Fund, namely a Green Growth Equity
1. It is the repository developed to contain an Fund. With respect to this fund, consider the
electronic copy of all M.Phil/Ph.D thesis to
following statements :
make it accessible to all Public institutions
only. 1. The fund aims to leverage private sector
investment from the City of London to
2. The task of setting-up of this repository is
invest in green infrastructure projects in
assigned to Information and Library
India.
Network (INFLIBNET), an inter-university
centre of the University Grants Commission 2. The fund will be established under the
(UGC). National Infrastructure Investment Fund
framework.
Which of the statements given above is/are
correct? Which of the statements given above is/are
correct?
(a) 1 only
(a) 1 only
(b) 2 only

(c) Both 1 and 2 (b) 2 only

(d) Neither 1 nor 2 (c) Both 1 and 2

(d) Neither 1 nor 2

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14. Which of the following can be attributed as an 16. The Office of the Economic Adviser (OEA), who
impact of granting Farm loan waiver? compiles and releases the monthly Wholesale

1. It transfers liabilities from the Private sector Price Index (WPI) inflation, is an attached office

to the Government balance sheet. under which of the following Ministry/Agency?

2. Farm loan waivers will increase states' (a) Ministry of Finance

interest payments.
(b) Ministry of Commerce and Industry
Select the correct answer using the codes given
(c) Prime Minister's Office
below.
(d) The Reserve Bank of India
(a) 1 only

(b) 2 only
17. With reference to Consumer Price Index (CPI)
(c) Both 1 and 2
and Wholesale Price Index (WPI), Consider the
(d) Neither 1 nor 2
following statements

1. CPI is a better indicator than WPI in

15. Which of the following procedural reforms were assessing the impact of inflation on
carried out in this year’s budget? household.

1. Advancement of Union Budget 2017 to

2. The RBI uses CPI as a prime inflation index
February 1.
for its monetary policy.
2. Merger of Railway Budget with the main
3. WPI includes basket of goods only but not
Budget.
services.
3. Doing away with plan and non-plan
Which of the statements given above is/are
expenditure.
correct?
Select the correct answer using the codes given
(a) 1 and 2 only
below.

(a) 1 and 2 only (b) 2 and 3 only

(b) 2 and 3 only (c) 1 and 3 only

(c) 1 and 3 only (d) 1, 2 and 3

(d) 1, 2 and 3

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18. Consider the following statements 20. Krishi Karman award was constituted by the

1. Low and stable inflation is good for Government of India for which of the following

economy. purposes?

2. Inflation benefits producers as well as (a) To reward the best performing states for
consumers.
raising country‘s food grain production.
Which of the statements given above is /are
(b) To identify and reward the best performing
correct?
states in terms of reduction in Infant
(a) 1 only
Mortality rate
(b) 2 only
(c) To award states that implement business
(c) Both 1 and 2
friendly administrative reforms
(d) Neither 1 nor 2
(d) To award the best performing cities in the

Swachh Survekshan Rankings.

19. Which of the following statements is/are
correct with reference to Small Finance Banks
(SFB)? 21. Which of the following are the reasons for

1. SFB promotes financial inclusion. increasing Non-performing assets in Banking

2. Rs.100 Cr. is the minimum paid up capital sector?

required. 1. Policy Paralysis

3. Cash Reserve Ratio (CRR) and Statutory
2. Slow recovery in the global economy
Liquidity Ratio (SLR) requirements are not
applicable to SFB. 3. Merging of Banks

4. 75% of their Adjusted Net Bank Credit will Select the correct answer using the codes
be required to extend priority sectors. below.
Select the correct answer using the codes given
(a) 1 and 2 only
below.
(b) 1 and 3 only
(a) 1 and 2 only
(c) 2 and 3 only
(b) 1, 2 and 4 only

(c) 2, 3 and 4 only (d) 1, 2 and 3

(d) 1, 2, 3 and 4

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22. Consider the following statements with 24. Consider the following statements with
reference to Inflation targeting in India reference to National List of Essential
Medicines
1. The Central Government determines
1. The National List of Essential Medicines of
inflation target to be achieved by the RBI.
India 2011 (NLEM 2011) is a list of
2. The current inflation targeting is the medicines, prepared by the Ministry of
Consumer Price Index (CPI) inflation as the Chemicals and Fertilizers, which are
considered essential in India.
target for the period from August 5, 2016 to
March 31, 2021 with the upper tolerance 2. The primary purpose of NLEM is to promote
limit of 6 per cent and the lower tolerance rational use of medicines considering three
important aspects i.e. cost, safety and
limit of 2 per cent.
efficacy.
Which of the statements given above is/are Which of the statements given above is/are
correct? correct?

(a) 1 only (a) 1 only

(b) 2 only (b) 2 only

(c) Both 1 and 2 (c) Both 1 and 2

(d) Neither 1 nor 2

(d) Neither 1 nor 2

25. Consider the following statements with

23. Consider the following statements with reference to Neglected tropical diseases:
reference to deficit financing in India
1. Neglected tropical diseases (NTDs) are a
1. The term ‘deficit financing’ is used to diverse group of Non-communicable
denote the direct addition to gross national diseases that prevail in tropical and
subtropical conditions in 149 countries
expenditure through budget deficits,
which affect more than one billion people
whether the deficits are on revenue or on and cost developing economies billions of
capital account. dollars every year.

2. During deficit financing deflationary 2. In April 2017, Médecins Sans Frontieres

pressure can be seen on the economy released its fourth report on neglec
which make the rich richer and the poor, ted tropical disease and the progress made
for achieving the roadmap target for 2020.
poorer.
Which of the statements given above is/are
Which of the statements given above is/are correct?
correct?
(a) 1 only
(a) 1 only
(b) 2 only
(b) 2 only (c) Both 1 and 2
(c) Both 1 and 2 (d) Neither 1 nor 2

(d) Neither 1 nor 2

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26. Which of the following properties is not correct 29. Some medicines are marked with a red vertical
with reference to graphene? line after a campaign by the ministry of Health
(a) Very good conductor of electricity and heat and family welfare, what was that campaign
(b) Perfectly transparent about?
(c) Very light in weight
(a) To mark that certain Medicines are generic
(d) Weaker than steel
medicines and should be offered at a lower

price
27. Consider the following statements with
(b) To state that these medicines are allocated
reference to Assam Accords:
and distributed under Jan Aushadhi
1. The Assam Accord (1985) was a
Memorandum of Settlement (MoS) signed Scheme.
between representatives of the Government
(c) To mark medicines whose clinical efficacy is
of India and the leaders of the Assam
Movement in 1985. yet to be ascertained convincingly.

2. One of the key demands were that all those (d) To check the irrational use of antibiotics.
foreigners who had entered Assam between
1951 and 1961 were to be denied full
citizenship, including the right to vote.
30. When government is about to give a Fiscal
Which of the statements given above is/are stimulus package, what measures would it
correct?
take?
(a) 1 only
1. Increasing government Expenditure
(b) 2 only

(c) Both 1 and 2 2. Increase of taxes

(d) Neither 1 nor 2 3. Reducing Interest rates

4. Reducing money supply in the economy

28. In the context of Fiscal Consolidation, which of
the following measures will not help in Which of the above measures is/are correct?

achieving fiscal consolidation?

(a) 1 and 2 only
(a) Prudent fiscal policy of Union government.
(b) 1, 3 and 4 only
(b) Farmers’ debt waiver schemes by state
governments (c) 1 and 3 only

(c) Expanding tax base (d) 2 and 4 only

(d) Austerity measures.

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31. Which of the following statements is not 33. Consider the following statements with
correct with reference to ‘Start-up India reference to Mission Indradanush for reforming
scheme’? the Banking sector:

(a) The scheme is intended to build a strong 1. Mission Indradhanush is a 7-pronged plan

eco-system for nurturing innovation and to address the challenges faced by public
sector banks (PSBs), the 7 parts include
Start-ups in the country.
appointments, Banks board bureau,
(b) Fund of Funds for Start-up (FFS) was capitalisation, de-stressing, empowerment,
established to fund start-ups. framework of accountability and

(c) IDBI is the custodian of FFS governance reforms.

2. Many of the measures taken up by Mission

(d) The scheme is implemented by the Ministry
Indradanush were suggested by P J Nayak
of Commerce and Industry.
committee on banking sector reforms.

Which of the statements given above is/are

32. Consider the following statements with correct?
reference to Elephant census:
(a) 1 only
1. The census was conducted between March (b) 2 only
and May 2017 by the Asian Nature
(c) Both 1 and 2
Conservation Foundation (ANCF), several
NGOs and independent conservationists (d) Neither 1 nor 2

aided the Project Elephant Directorate and

forest departments of 23 states.
34. Which of the following expenses is/are to be
2. It was the first-ever synchronised all-India classified as capital expenditure?
Elephant Population census that covered 1. Implementation of the Seventh Pay
1.10 lakh square kilometres and spanned Commission.
four regions of the country i.e. the
2. Granting Loans to the States.
northeast, south, east-central and north.
3. Execution of National Food Security Act.
Which of the statements given above is/are
Select the correct answer using the codes given
correct?
below.
(a) 1 only
(a) 1 only
(b) 2 only
(b) 2 only
(c) Both 1 and 2
(c) 2 and 3 only
(d) Neither 1 nor 2
(d) 1, 2 and 3

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35. Consider the following statements with 37. Which of the following statements is not
correct with respect to clinical trial in India?
reference to SAFAR
(a) Any researcher who plans to conduct trials
1. System of Air Quality and Weather involving human participants, as well as

Forecasting Research (SAFAR) operates the trials being conducted in the purview of
the Department of AYUSH is expected to
under the aegis of the Indian Meteorological register the trial in the Clinical Trials
Oraganisation (IMO), an autonomous body Registry India before enrolment of the first
participant.
under the Department of Science and
(b) After a trial is registered, all updates and
Technology.
changes will be recorded and made
available for public display.
2. It facilitates information on air quality,
(c) Submission of the approval of Ethics and
weather and radiation (Ultraviolet index).
Drug Controller General of India (DCGI) (if

Which of the statements given above is/are applicable) is not mandatory for trial
registration in the Clinical Trials Registry
correct? India (CTRI).

(a) 1 only (d) As a signatory country, India became fully

compliant to the Trade Related Intellectual
(b) 2 only Property Rights (TRIPS) in January 2005
and allowed foreign companies to conduct
(c) Both 1 and 2 clinical trials in India.

(d) Neither 1 nor 2

38. With reference to ‘Inflation’, which of the
following statements is/are correct?

36. ‘World Economic Outlook’ report is published 1. Supply side constraints is the primary
reason for inflationary pressure in India.
by
2. Price Stabilization Scheme by the RBI aims
(a) OECD at checking demand side pull of Inflation.

(b) IMF Select the correct answer using the codes given
below.
(c) WB (a) 1 only

(d) ADB (b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2

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39. Which of the following accurately describes the 41. Consider the following statements with
term ‘Tax expenditure’? reference to World Conference on Environment:

(a) Expenditure incurred by the government in 1. The conference was organized by National
collecting and maintaining the tax receipts Green Tribunal and held at New Delhi.

(b) The amount of taxes, both direct and 2. UNEP, Ministry of Environment, Forest and
indirect collected by the government Climate Change (MOEF & CC), Ministry of
Water Resources, Asian Development Bank
(c) The ratio of tax revenue used in a particular
and the Delhi Pollution Control Board are
scheme to the total cost incurred by the
the Sponsors of the Conference.
scheme
Which of the statements given above is/are
(d) Tax expenditures are revenue losses
correct?
attributable to tax provisions that often
result from the use of the tax system to (a) 1 only
promote social goals without incurring
(b) 2 only
direct expenditures.
(c) Both 1 and 2

(d) Neither 1 nor 2

40. Consider the following statements regarding
the Project Monitoring Group (PMG)

1. It is an institutional mechanism for 42. Tawang, which was visited by Dalai Lama

resolving a variety of issues including fast recently, is located in which of the following

tracking the approvals for setting up and states?

expeditious commissioning of large Public, (a) Arunachal Pradesh

Private and Public–Private Partnership (PPP)
(b) Assam
Projects.
(c) Sikkhim
2. Initially it was setup under the Cabinet
Secretariat in 2013 but it is now (d) Uttarkhand
functioning under Prime Minister’s Office
(PMO) since 2015.
43. Micro Finance Institutions Network (MFIN) is a
Which of the statements given above is/are
(a) Self regulatory society.
correct?
(b) Statutory organization established by the
(a) 1 only
Act of parliament.
(b) 2 only
(c) Cooperative society established by Gujarat
(c) Both 1 and 2 dairy farmers for promoting credit
availability.
(d) Neither 1 Nor 2
(d) Public Private Initiative for the regulation of
MFI.
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44. Consider the following statements with 46. If Net Domestic Product (NDP) is lower than
reference to International Basava Convention Gross Domestic Product (GDP), it rightly
indicates
1. Basavanna was a 12th-century social
(a) Loss on account of wear and tear is more
reformer, Kannada poet, philosopher,
(b) Net remittances from abroad is less
statesman who served as the chief minister
(c) Net remittances from abroad is more
of Kalachuri dynasty ruled by King Bijjala.
(d) Net FDI is less
2. Recently Basava Jayanti was celebrated for
the first time on his birth anniversary and
47. Consider the following statements
digital version of his work Vachana was
1. Gini coefficient measures income
released. inequality.

Which of the statements given above is/are 2. The value of Gini coefficient is more for
urban India than rural India.
correct?
Which of the statements given above is/are
(a) 1 only correct?

(b) 2 only (a) 1 only

(b) 2 only
(c) Both 1 and 2
(c) Both 1 and 2
(d) Neither 1 nor 2
(d) Neither 1 nor 2

45. Swachhagraha “Bapu Ko Karyanjali” is 48. BHIM-Aadhar, a digital payment platform was
organized for which of the following reasons? launched by the Prime Minister. With reference
to it, consider the following statements
(a) To commemorate the 200th anniversary of
1. The new interface will enable customers to
Paika rebellion. make payments using a merchant’s
biometric-enabled device.
(b) An exhibition to mark the 100th
2. Access to Smartphone is necessary to
anniversary of Champaran Satyagraha.
transact in this platform
(c) To commemorate the Indian National Which of the statements given above is/are
Congress' first demand of self-government correct?

for India. (a) 1 only

(d) To commemorate the first arrival of Gandhi (b) 2 only

to India from South Africa. (c) Both 1 and 2

(d) Neither 1 nor 2

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49. Consider the following statements with 51. Consider the following statements with
reference to Mental healthcare Act, 2017
reference to Rights of Persons with Disabilities
1. Mental healthcare bill 2017 has been
Act, 2016
passed recently which amended the age old
practise of criminalising suicide and 1. The Act sets timelines to ensure
decriminalized it.
implementation and incorporation of
2. The Bill also assures free treatment for
such persons if they are homeless or belong Universal Design principles

to Below Poverty Line, for which possession

2. It prescribes punitive action in the event of
of BPL card is mandatory.
non-compliance.
Which of the statements given above is/are
correct?
3. Despite passing of this bill, India is yet to
(a) 1 only
ratify the United Nations Convention on the
(b) 2 only
Rights of Persons with Disabilities.
(c) Both 1 and 2
Which of the statements given above is/are
(d) Neither 1 nor 2
correct?

50. The Department of Economic Affairs (DEA), (a) 1 and 2 only

under the Ministry of Finance is responsible for
which of the following functions? (b) 1 and 3 only

1. Preparation of Union Budget

(c) 2 and 3 only
2. Production of bank notes and coins of
various denominations (d) 1, 2 and 3

3. Monitoring the disinvestment process

4. Administering the Pradhan Mantri Jan-

52. Shahtoosh wool is obtained from which of the
Dhan Yojana
following animal?
Select the correct answer using the codes given
below.
(a) Tibetan antelope
(a) 1 only
(b) Kashmir Stag
(b) 1 and 2 only

(c) 1, 2 and 3 only (c) Cashmere goat

(d) 1, 2, 3 and 4
(d) Kashmir merino sheep

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53. Researchers have discovered increased 56. Which of the following measure(s)
ammonia concentrations from 2002 to 2016 reduces/reduce income inequalities?
over agricultural centres in the US, Europe,
1. Increasing the indirect taxes
China and India. Among which, Ammonia
concentration in the atmosphere over India is 2. Introduction of Direct Benefit Transfer
the highest in the world. Which of the following
3. Decreasing Priority Sector lending
are the reasons for it?

1. Cattle population Select the correct answer using the codes given
below
2. Excessive fertilizer usage

3. Paddy cultivation (a) 1 only

Select the correct answer using the codes given (b) 2 only
below.
(c) 2 and 3 only
(a) 1 and 2 only
(d) 1, 2 and 3
(b) 2 and 3 only

(c) 1 and 3 only

57. Which of the following is/are recommended by
(d) 1, 2 and 3
‘The Fiscal Responsibility and Budget
Management (FRBM) Review Committee
54. ‘Global Wage Report’ is published by Chaired by N.K. Singh’?

(a) World Bank 1. Debt-to-GDP ratio targets for both the

(b) International Labour Organization Central Government and State

(c) International Monetary Fund Governments to be achieved by 2022-23.

(d) Organisation Economic Cooperation and 2. It recommended fiscal deficit to be cut to

Development. 3% by 2023.

3. Setting up of a Fiscal Council.

55. Among the sectors of Eight Core Industries,
Select the correct answer using the codes given
which one of the following sector has the least
below.
weightage comparing than other sectors?

(a) Steel (a) 1 only

(b) Coal (b) 1 and 3 only

(c) Electricity (c) 2 and 3 only

(d) Cement (d) 1, 2 and 3

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58. Consider the following statements with 60. The Forward Markets Commission (FMC) is the
chief regulator of commodity futures markets
reference to Environment Goods Agreement
in India. In 2015 the FMC was merged with the
1. The EGA is a trade agreement being which of the following authority?

negotiated by the members of the RCEP, (a) The Reserve Bank of India

focusing on reducing tariffs on products (b) The Pension Fund Regulatory and

that benefit the environment. Development Authority (PFRDA)

(c) Competition Commission of India

2. India has so far opposed the EGA fearing
(d) The Securities and Exchange Board of India
the developed countries could use it as a
(SEBI)
new trade-restrictive measure, and it is

reluctant to reduce tariff lines for identified

61. Right to consular access is defined by which of
goods. the following accords?

Which of the statements given above is/are (a) Hague Accords

correct? (b) UN consular commission charter

(c) Vienna Convention

(a) 1 only
(d) Rome convention
(b) 2 only

(c) Both 1 and 2 62. ‘India Innovation Index’ is a joint initiative of

(d) Neither 1 nor 2 1. NITI Aayog

2. Department of Industrial Policy and

59. Which of the following countries spearheaded Promotion

the formation of Islamic Military Alliance to 3. FICCI

Fight Terrorism (IMAFT)? Select the correct answer using the codes given
below
(a) Iran
(a) 1 only

(b) Pakistan (b) 1 and 2 only

(c) Qatar (c) 1 and 3 only

(d) 1, 2 and 3
(d) Saudi Arabia

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63. Which of the following parameters has the 65. Which move helped to tide over the Balance of
highest weightage for calculating tax devolution Payment crisis in 1991?
from Centre to States as per the
(a) Emergency loan from IMF by pledging gold
recommendations of the 14th Finance
Commission? reserves

(a) Population (b) Sale of gold in international markets

(b) Area (c) Emergency loan from World Bank by

(c) Income distance implementing structural reforms.

(d) Demographic change (d) Quick realization of expatriate payments

64. Which of the following are included in the

66. Consider the following statements with
Revenue receipts of the government?
reference to Rail Development Authority (RDA)
1. External Grants
1. It is envisaged that RDA comprising a
2. Collections in the form of fees and penalties
Chairman and three Members shall make
3. Interest which the Government earns on
recommendations to Government for
the money lent by it to external or internal
borrowers. appropriate consideration/decision.

4. Money which the Government earns as 2. It will be an executive body to the railway
“Dividends and profits” from its profit ministry.
making public enterprises (PSUs).
Which of the statements given above is/are
Select the correct answer using the codes
correct?
below.

(a) 1 and 2 only (a) 1 only

(b) 2 and 3 only (b) 2 only

(c) 1, 3 and 4 only (c) Both 1 and 2

(d) 1, 2, 3 and 4
(d) Neither 1 nor 2

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67. Consider the following statements with 69. In India retrospective Acts can be passed in
reference to performance based budgeting which of the following fields?

1. Performance based budgeting is a practice 1. Civil law

of suggesting and listing of estimated
2. Criminal Law
outcomes of each programmes or schemes
designed. 3. Taxation related matters

2. The Performance Budget becomes a Select the correct answer using the codes given
progress card on what various Ministries below.
and Departments have done with the
(a) 1 only
outlays in the previous annual budget.
(b) 1 and 3 only
3. It is practiced by most of the Ministries
while preparing their budget details and (c) 2 and 3 only

submitting it to the Ministry of Finance for (d) 1, 2 and 3 only

the preparation of the annual budget
towards the end of January.
70. Consider the following statements regarding
Which of the statements given above is/are
the National Investment and Infrastructure
correct?
Fund (NIIF)
(a) 1 and 2 only
1. It is envisaged as a fund of funds with the
(b) 2 and 3 only
ability to make only indirect investments.
(c) 1 and 3 only
2. It is jointly-owned by the Government of
(d) 1, 2 and 3
India and investors from India only.

Which of the statements given above is/are

68. What do you mean by effective revenue deficit? correct?

(a) Fiscal deficit minus Grants for creation of

(a) 1 only
capital assets.
(b) 2 only
(b) Revenue deficit minus Grants for creation
of capital assets. (c) Both 1 and 2

(c) Fiscal deficit minus interest payments. (d) Neither 1 Nor 2

(d) Revenue deficit minus interest payments.

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71. Consider the following statements with 74. Which of the following characteristics are used
reference to Influenza in India. to identify Particularly Vulnerable Tribal
Groups (PVTGs) in India?
1. Influenza is caused by three types of DNA
1. Homogeneity
viruses called influenza types A, B and C
(considered different genera), which all 2. Relative physically isolation
belong to the family Orthomyxoviridae. 3. Absence of written language
2. Influenza is not covered under the Select the correct answer using the codes given
Universal Immunization Programme (UIP). below.

Which of the statements given above is/are (a) 1 and 2 only

correct? (b) 1 and 3 only

(a) 1 only (c) 2 and 3 only

(b) 2 only (d) 1, 2 and 3

(c) Both 1 and 2

(d) Neither 1 nor 2 75. "Women and Men in India 2016" report is
released by which of the following?

(a) Ministry of women and child development

72. Under the ‘Swachhta Pakhwada‘ campaign,
(b) Ministry of Statistics and Programme
Quality Council of India (QCI) has ranked all
Implementation.
the major 13 ports on sanitation parameters.
(c) NITI Aayog
Which port emerged as the cleanest port in
India? (d) Ministry of law and justice

(a) Haldia Port

76. Which of the following taxes are the form of
(b) Vizag Port
direct tax?
(c) Kandala Port
1. Corporate Income tax
(d) Jawaharlal Nehru port, Navi Mumbai 2. Securities Transaction tax

3. Customs duty
73. Which of the following countries recently held
4. Minimum alternate tax
referendum to change the constitution
Select the correct answer using the codes
drastically increasing the powers of president?
below.
(a) Egypt
(a) 1 and 3 only
(b) Turkey
(b) 1 and 2 only
(c) Spain (c) 1 and 4 only
(d) Sri Lanka (d) 1, 2 and 4 only
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77. Cyber Physical System (CPS) Programme is an Select the correct answer using the codes
interdisciplinary field that deals with the below.
deployment of computer-based systems that do (a) 1 and 2 only
things in the physical world. It is initiated by
(b) 1 only
(a) Department of Science and Technology
(c) 1 and 3 only
(b) The Indian Computer Emergency Response
(d) 4 only
Team (CERT-In)

(c) The National Intelligence Grid

80. There seems to be an anger directed against
(d) Ministry of electronics and information
technology
78. Consider the following statements:
1. Gross Domestic Product (GDP) includes the
total value of all final goods and services
produced in a country in a year.
austerity economic policies across the World,
which followed after 2008 financial recession.
Which of the policies given below is/are
followed/implemented during austerity?
1. Increase in public spending
2. Increase in taxes
3. Increase of disinvestment

Select the correct answer using the codes

2. Intermediate products are included in GDP.
below:
3. Gross National Product (GNP) is the
(a) 1 and 2 only
summation of GDP and Net Factor Income
from Abroad (NFIA). (b) 2 and 3 only

Which of the statements given above is/are (c) 2 only

correct? (d) 1, 2 and 3

(a) 1 only

(b) 1 and 2 only 81. Rise in prices in which of the following sectors
will impact core inflation?
(c) 1 and 3 only
1. Manufacturing sector
(d) 1, 2 and 3
2. Electricity

3. Oil
79. Which of the following monetary policy tools
4. Agricultural products
does not involve with government securities?
Select the correct answer using the codes below
1. Cash reserve ratio
(a) 1 only
2. Repo rate
(b) 1 and 2 only
3. Statutory liquidity ratio
(c) 2 and 3 only
4. Marginal standing facility
(d) 2, 3 and 4
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82. Micro Units Development and Refinance 84. Consider the following statements with
Agency Bank (or MUDRA Bank) is a public reference to Municipal Bonds

sector financial institution in India. It provides 1. Municipal bonds are bonds issued by
loans at low rates to micro-finance institutions urban local bodies, municipal bodies and

and non-banking financial institutions which municipal corporations (entities owned by

then provide credit to MSMEs. The bank will
initially function as a non-banking financial
company and a subsidiary under
(a) The Reserve Bank of India
municipal bodies) to raise money for welfare
projects only.
2. Municipal bonds in India has tax-free
status if they conform to certain rules and
their interest rates will be market-linked.

(b) National Bank for Agriculture and Rural 3. Only public issue can be adopted for
Development (NABARD) Municipal Bonds

(c) Industrial Development Bank of India (IDBI) Which of the statements given above is/are
correct?
(d) Small Industries Development Bank of
(a) 1 and 2 only
India (SIDBI)
(b) 2 only

(c) 1 and 3 only

83. Which of the following can be classified into
(d) 1 only
Derivative instruments?

1. Forwards 85. Consider the following statements with

2. Futures reference to Follow Public offer

1. A follow-on public offer (FPO) is an issuing

3. Swaps
of shares to investors by a public company
4. Loans and receivables that is already listed on an exchange.

Select the correct answer using the codes 2. A follow-on Public offer will always increase

below. the number of outstanding shares

Which of the statements given above is/are

(a) 1 and 4 only
correct?
(b) 2 and 4 only
(a) 1 only
(c) 1, 2 and 3 only
(b) 2 only
(d) 2, 3 and 4 only
(c) Both 1 and 2

(d) Neither 1 nor 2

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 SHANKAR IAS ACADEMYtm
86. Which of the following statements is not correct Which of the statements given above is/are
about participatory notes? correct?

(a) They are issued by the Registered Foreign (a) 1 only

Institutional investors (b) 2 only

(b) They are extremely stable instruments for (c) Both 1 and 2
Indian market thus increasing its
(d) Neither 1 nor 2
attractiveness

(c) They are the preferred route for round

89. According to IMF, Inflation in Venezuela will
tripping of funds
reach 1500% this year. Venezuela is currently
(d) They are currently regulated by SEBI experiencing which one of the following
inflation?

(a) Walking Inflation

87. Which of the following best defines Tax
buoyancy? (b) Running Inflation

(a) It is the ratio of growth in tax revenue to (c) Runaway inflation

growth in GDP. (d) Creeping Inflation

(b) It is the ratio of gross tax collected to the

total public debt of the state.
90. The Joint Lender’s Forum (JLF), was conceived
(c) It is the ratio of gross tax collected by the to tackle:

state to the percentage of GDP. (a) Stressed assets

(d) It is the ratio of growth in tax revenue to (b) Disaster management funding
the growth in population.
(c) Sovereign debt

(d) International taxation disputes

88. Consider the following statements with
reference to Universal Basic Income
91. What is meant by the term Informalization of
1. Universal Basic Income Scheme is an Workers in India?
alternative to plethora of state subsidies for
(a) Disappearance of jobs in traditional sectors
poverty alleviation.
(b) Lack of quality certified jobs abroad
2. Universal Basic Income is a form of social
(c) Increase of service sector jobs
security paid to individuals, not
households, and it is paid to everyone. (d) Contractualization of workforce and
employment in informal sector.
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92. Consider the following statements with 94. The term ‘Quinary activities' refers to which of
reference to Surcharge
the following?
1. ‘Surcharge’ is an additional charge or tax
(a) Activities involving highest level of decision
levied on an existing tax.
and policy making.
2. Unlike a cess, which is meant to raise
revenue for a temporary need, surcharge is
(b) Activities involving production of goods and
usually permanent in nature.
factory processes.
3. Under GST regime only Surcharges are
allowed on GST, Cess is not allowed on (c) Activities involving transforming raw
GST.
materials into valuable products.
Which of the statements given above is/are
(d) Activity that involves in offering legal
correct?
services for companies in adjudication
(a) 1 and 2 only
process
(b) 2 and 3 only

(c) 1 and 3 only

(d) 1, 2 and 3 only

95. Consider the following statements with

reference to Monetary Policy Committee

93. Consider the following statements with
1. The MPC is required to meet at least three
reference to Macroeconomic Vulnerability index
times in a year.
1. Macroeconomic Vulnerability Index is
released by IMF yearly.
2. The quorum for the meeting of the MPC is
2. This Index adds together the rate of
four members.
inflation, current account deficit and fiscal
deficit of a country. Which of the statements given above is/are

Which of the statements given above is/are correct?

correct?
(a) 1 only
(a) 1 only
(b) 2 only
(b) 2 only

(c) Both 1 and 2 (c) Both 1 and 2

(d) Neither 1 nor 2

(d) Neither 1 nor 2

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 SHANKAR IAS ACADEMYtm
96. With reference to the functions of RBI, which of 98. Consider the following measures by the
the following statements is/are correct? Government
1. It acts as a banker to the commercial 1. Increase in Export Duty
banks.
2. Increase in Import Duty
2. It acts as a banker to the government of
3. Creation of a Buffer stock
India.
3. It is responsible for the issue of the Which of the measures given above is/are
currency notes and the coins in the suitable for controlling inflation?
economy. (a) 1 only
4. It helps in sterilisation of economy against (b) 2 only
the external shocks.
(c) 1 and 3 only
5. It is the controller of credit supply in an
economy. (d) 2 and 3 only

Select the correct answer using the codes given

below. 99. Consider the following Major groups which
(a) 1, 4 and 5 only constitute the calculation of Wholesale Price
Index (WPI)
(b) 1, 3, 4 and 5 only
1. Fuel and Power
(c) 1, 2, 4 and 5 only
2. Manufactured Products
(d) 1, 2, 3, 4 and 5
3. Primary Articles

Arrange the groups given above in decreasing

97. Consider the following statements with
value of their ‘weightage’ in WPI according to
reference to Insolvency and Bankruptcy Code
the new base year 2011-12.
(IBC).
1. The Debt Recovery Tribunal act as (a) 2 – 3 – 1
adjudicating authorities for individuals and (b) 3 – 2 – 1
unlimited partnership firms under IBC, and
National Company Law Tribunal would deal (c) 2 – 1 – 3
with companies and limited liability (d) 3 – 1 – 2
entities.
2. Insolvency and Bankruptcy Board of India
will be the overall regulator for insolvency 100. The primary objective of the Banking
in India. Regulation (Amendment) Ordinance 2017 is to

Which of the statements given above is/are (a) Modify the provisions of Priority Sector
correct? Lending

(a) 1 only (b) Enable Bank Mergers

(b) 2 only (c) Resolve stressed assets

(c) Both 1 and 2 (d) Provide statutory status to Bank Boards

Bureau
(d) Neither 1 nor 2

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