Economics Miscellaneous (Part – III)

Total Questions: 50

41. Name the Governor of Reserve Bank of India who also became Finance Minister. [U.P.P.C.S. (Pre) 2008]

(a) H.M. Patel
(b) C.D. Desmukh
(c) C. Subramaniam
(d) Sachin Chaudhari

Correct Answer: (b) C.D. Desmukh

Solution:Among the given options, C.D. Deshmukh was an Indian Civil Servant and the first Indian to be appointed as the Governor of the Reserve Bank of India in 1943 before the Independence. He subsequently served as the Finance Minister in the Union Cabinet (1950-1956).

42. Bimal Jalan will be First head of: [U.P. P.C.S. (Mains) 2014]

(a) BRICS Development Bank
(b) Expenditure Management Commission
(c) Competition Commission of India
(d) None of the above

Correct Answer: (b) Expenditure Management Commission

Solution:The Constitution of Expenditure Management Commission (EMC) of India was announced in the Budget Speech by then Finance Minister of India, Arun Jaitley in the budget of 2014-15. The EMC has started its functioning on 4th September, 2014. Former RBI governor Bimal Jalan was the first Chairman of EMC.

43. The two Indian families among the fifty richest in the world according to 'Forbes Billionares List' are: [U.P.P.C.S.(Pre) 2001]

1. Ratan Tata

2. Azim Premji

3. Kumar Mangalam (Birla)

4. Dhirubhai Ambani

Select the correct answer from the codes given below:

(a) 1 and 2 are correct
(b) 2 and 3 are correct
(c) 3 and 4 are correct
(d) 2 and 4 are correct

Correct Answer: (d) 2 and 4 are correct

Solution:As per the question period option (d) was the correct answer. While, Mukesh Ambani (ranked 9th), Gautam Adani (ranked 17th), Shiv Nadar (ranked 39th), Savitri Jindal and Family (ranked 46th) and Dilip Shanghvi (ranked 69th) are top 5 richest Indians in Forbes World's Billionaires List 2024.

44. Who represented India at the Micro Credit Summit 1997? [U.P.P.C.S. (Pre) 1997]

(a) Self-Employed Women's Association
(b) Anganwadi
(c) All India Association of Industries
(d) The Prime Minister

Correct Answer: (a) Self-Employed Women's Association

Solution:Self-Employed Women's Association (SEWA) was born as a trade union of poor self-employed women in 1972 in Ahmedabad. The goal of SEWA is to ensure that every SEWA member can achieve full employment and self-reliance. Full employment consists of work security, income security, food security and social security, which includes healthcare, childcare, insurance, pension and housing at the household level. It represented India at the Micro Credit Summit 1997, which was held in Washington D.C. (USA).

45. Match List I with List II and select the correct answer: [I.A.S. (Pre) 2005]

List I (Businesswoman)	List II (Company)
A. Zia Mody	1. Venkateshwara Hatcheries
B. Anuradha J. Desai	2. AZB and Partners
C. Villoo Morawala Patel	3. Quantum Market Research
D. Meena Kaushik	4. Avestha Gengrain Technologies

Codes:

	A	B	C	D
(a)	4	1	5	3
(b)	2	3	4	1
(c)	4	3	5	1
(d)	2	1	4	3

Correct Answer: (d)

Solution:The correct matching of pairs are as follows:

List I (Businesswoman)	List II (Company)
A. Zia Mody	AZB and Partners
B. Anuradha J. Desai	Venkateshwara Hatcheries
C. Villoo Morawala Patel	Avestha Gengrain Technologies
D. Meena Kaushik	Quantum Market Research

46. Consider the following: [I.A.S. (Pre) 2009]

Firm	Group
1. Ashok Leyland	Hinduja
2. Hindalco Industries	A.V. Birla
3. Suzlon Energy	Pun Lloyd Group

Which of the pairs given above is/are correctly matched?

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

Correct Answer: (a) 1 and 2 only

Solution:The correct matching of pairs are as follows:

Firm	Group
1. Ashok Leyland	Hinduja
2. Hindalco Industries	A.V. Birla
3. Suzlon Energy	Tulsi Tanti (Founder)

Suzlon Energy is a wind power company. It was started in 1995 by Tulsi Tanti. It is not related to Punj Lloyd Group.

47. Given below are a few abbreviations and the areas with which they are associated. Match them properly using the given code: [U.P.P.C.S. (Mains) 2007]

Code	Category
A. OGL, FOB	External trade
B. SJRY, TRYSEM	Employment
C. WPI, CPI	Index number
D. CRR, SLR	Banking

Codes:

Correct Answer: (a)

Solution:TRYSEM: Training of Rural Youth for Self-Employment

SJRY: Swarna Jayanti Rozgar Yojana

TRYSEM: Training of Rural Youth for Self-Employment

OGL: Open General License

FOB: Free on Board, a value determined word, which is related to trade

WPI: Whole-sale Price Index

CPI: Consumer Price Index

CRR: Cash Reserve Ratio

SLR: Statutory Liquidity Ratio

Hence, option (a) is the correct answer.

48. Who among the following is not a member of the Investment Commission formed in December, 2004? [I.A.S. (Pre) 2005]

(a) Ratan Tata
(b) Deepak Parekh
(c) Ashok Ganguly
(d) Kumarmangalam Birla

Correct Answer: (d) Kumarmangalam Birla

Solution:The then Finance Minister P. Chidambaram constituted tri-member Investment Commission in December, 2004 for attracting US $150 billion investment in next 10 years. The members of this commission were as follows: Chairman Ratan Tata, Member - Deepak Parekh and Ashok Ganguly. Hence, option (d) is the correct answer.

49. Which among the following statements signifies a 'Pressure Group': [U.P.P.C.S. (Mains) 2004]

(a) A group that works for social reform
(b) A faction of political party tempting others to secure votes in election
(c) A group that exercises its influence on policy decisions.
(d) A group that works for welfare of the poor

Correct Answer: (c) A group that exercises its influence on policy decisions.

Solution:Pressure groups are organizations that attempts to influence government policies. But unlike political parties, pressure groups do not aim to directly control or share political power. These organizations are formed when people with common occupation, interest and opinions come together in order to achieve a common objective. The causes to influence pressure group are - Organizational form of State and Government, political culture and inter-relation of politicians and public at large.

50. Who is the present Chairman of the Indian Prime Minister's Economic Advisory Council? [M.P.P.C.S. (Pre) 2006*]

(a) Montek Singh Ahluwalia
(b) Dr. C. Rangarajan
(c) K. Raghuram
(d) Deepak Parikh

Correct Answer: (b) Dr. C. Rangarajan

Solution:When the question was asked, Dr. C. Rangarajan was the Chairman of PM's Economic Advisory Council. Economic Advisory Council to the Prime Minister (EAC-PM) is an independent body constituted to give advice on economic and related issues to the Government of India, specifically to the Prime Minister. At present, Dr. Bibek Debroy is the Chairman of EAC-PM.

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