In this article we will analyse the Questions asked from economics section in the Civil Services exam 2017. We will have a comparison with the syllabus and sources we have already discussed
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:
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:
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?
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.
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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?
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:
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