Economics : Civil Services Exam 2017 Question Paper Analysis

Difficulty : Medium

Topic Hierarchy : Indian Economic Development

Resource : NCERT

Q1. Which of the following has/have occurred in India after its liberalization of economic policies in 1991?

1. Share of agriculture in GDP increased enormously.

2. Share of India’s exports in world trade increased.

3. FDI inflows increased.

4. India’s foreign exchange reserves increased enormously.

Select the correct answer using the codes given below:

1. 1 and 4 only
2. 2, 3 and 4 only
3. 2 and 3 only
4. 1, 2, 3 and 4

Difficulty : Medium

Topic Hierarchy : Public Finance > Taxation

Resource : Current Affairs

Q2. What is/are the most likely advantages of implementing ‘Goods and Services Tax (GST)’?

1. It will replace multiple taxes collected by multiple authorities and will thus create a single market in India.

2. It will drastically reduce the ‘Current Account Deficit’ of India and will enable it to increase its foreign exchange reserves.

3. It will enormously increase the growth and size of economy of India and will enable it to overtake China in the near future.

Select the correct answer using the code given below:

1. 1 only
2. 2 and 3 only
3. 1 and 3 only
4. 1, 2 and 3

Difficulty : Medium

Topic Hierarchy : Public Finance

Resource : Current Affairs

Q3. Consider the following statements:

1. Tax revenue as a percent of GDP of India has steadily increased in the last decade.

2. Fiscal deficit as a percent of GDP of India has steadily increased in the last decade.

Which of the statements given above is/are correct?

1. 1 only
2. 2 only
3. Both 1 and 2
4. Neither 1 nor 2

Difficulty : Medium

Topic Hierarchy : Sector of Economy > Agriculture

Resource : Current Affairs

Q4. What is/are the advantage/advantages of implementing the ‘National Agriculture Market’ scheme? 1. It is a pan-India electronic trading portal for agricultural commodities.

2. It provides the farmers access to nationwide market, with prices commensurate with the quality of their produce.

Select the correct answer using the code given below:

1. 1 only
2. 2 only
3. Both 1 and 2
4. Neither 1 nor 2

Difficulty : Medium

Topic Hierarchy : International Organisations > WTO

Resource : Current Affairs

Q5. With reference to the ‘National Intellectual Property Rights Policy’, consider the following statements:

1. It reiterates India’s commitment to the Doha Development Agenda and the TRIPS Agreement.

2. Department of Industrial Policy and Promotion is the nodal agency for regulating intellectual property rights in India.

Which of the above statements is/are correct?

1. 1 only
2. 2 only
3. Both 1 and 2
4. Neither 1 nor 2

Difficulty : Medium

Topic Hierarchy : Money and Banking > Monetary Policy

Resource : Current Affairs

Q6. Which of the following statements is/are correct regarding the ‘Monetary Policy Committee (MPC)?

1. It decides the RBI’s benchmark interest rates.

2. It is a 12-member body including the Governor of RBI and is reconstituted every year.

3. It functions under the chairmanship of the Union Finance Minister.

Select the correct answer using the code given below:

1. 1 only
2. 1 and 2 only
3. 3 only
4. 2 and 3 only

Topic wise distribution :

• Money and Banking : 1 Question
• Public Finance : 2 Questions
• Sector of Economy : 1 Questions
• National Income Accounting : 0 Questions
• Balance of Payments : 0 Questions
• International Organisations : 1 Question
• Indian Economic Development : ! Question
• Welfare/Social Schemes : 0 Question

Resource wise distribution :

• NCERTs : 1 Questions
• Current Affairs : 5 Questions
• Economic Survey : 0 Question
• Unknown : 0 Questions

Difficulty wise distribution :

• Easy
• Medium
• Difficult :