41.
The Reserve Bank of India was fully nationalised and owned by the Government of India in which of the following years?
(A)
1949
(B)
1950
(C)
1947
(D)
1948
42.
What is the main objective of Fiscal Responsibility and Budget Management Act (FRBMA), 2003?
(A)
To reduce subsidies
(B)
To increase exports
(C)
To reduce fiscal deficit
(D)
To increase excise duty
43.
Which organisation launched the Indian Customs Compliance Information Portal (CIP) for providing free access to
information on all Customs procedures and regulatory compliance for nearly 12,000 Customs Tariff items in the year 2021?
(A)
Central Board for Indirect Taxes & Customs
(B)
Income Tax Settlement Commission
(C)
Central Board for Direct Taxes
(D)
Directorate of Enforcement
44.
What is the balance of trade of a country?
(A)
Ratio of international trade
(B)
Number of exports
(C)
Difference between imports and exports
(D)
Number of imports
45.
The financial year in India starts from 1st April and ends on ________.
(A)
30th June
(B)
31st March
(C)
31st July
(D)
31st May
46.
Which of the following measures can be adopted by the government to reduce revenue deficit?
(A)
Offering freebies
(B)
Increasing subsidies
(C)
Increasing money supply
(D)
Tax reforms
47.
What is a revenue deficit in the government budget?
(A)
The excess of expenditure over revenue, excluding interest payments on debt
(B)
The excess of revenue over expenditure, including interest payments on debt
(C)
The excess of revenue over expenditure, excluding interest payments on debt
(D)
The excess of expenditure over revenue, including interest payments on debt
48.
What is/are the objective(s) of Fiscal Policy?
1) Boost growth
2) Control inflation
(A)
Neither 1 nor 2
(B)
Both 1 and 2
(C)
Only 2
(D)
Only 1
49.
The velocity of circulation of money will be higher when the ________ is less than the requirements of the economy.
(A)
velocity of money
(B)
elasticity of money
(C)
demand for money
(D)
supply of money
50.
What is the impact of proportional taxes?
(A)
Increases the marginal propensity to consume
(B)
Reduces the autonomous expenditure multiplier
(C)
Increases the induced expenditure multiplier
(D)
Increases the autonomous expenditure multiplier
