Economics (Part-II) (Railway)

Total Questions: 50

31. Any worker associated with an association or person is paid regular pay, then it is called - [RRB RPF Constable Exam, 15.02.2019 Shift-I]

(1) Unemployed person
(2) Regular Salaried Employees
(3) Subject to employed persons
(4) Self employed

Correct Answer: (2) Regular Salaried Employees

Solution:Regular Salaried Worker are workers hired by employers on a permanent basis and are paid regular salaries/wages for their work.

• Example: Chartered accountants, teachers, sports trainers at a sports club.

32. When was the new system of combined indirect taxes GST was implemented by Govt. of India. [RRB RPF Constable Exam, 18.02.2019 Shift-II]

(1) 2016
(2) 2018
(3) 2017
(4) 2015

Correct Answer: (3) 2017

Solution:Goods and Services Tax is an indirect tax used in India on the supply of goods and services.

• It is a value-added tax levied on most goods and services sold for domestic consumption.

• It was launched in India on 1 July 2017 as a comprehensive indirect tax for the entire country.

33. What is the full form of NITI Aayog? [RRB RPF Constable Exam, 18.02.2019 Shift-II]

(1) National Institute for Transforming India
(2) National Institute for Training Industries
(3) National Institute for Technology Introduction
(4) National Institute for Technology India

Correct Answer: (1) National Institute for Transforming India

Solution:The NITI (National Institution for Transforming India) Aayog was formed on January 1, 2015.

• This premiere policy think tank was established via an executive resolution by replacing the Planning Commission of India

34. Who was the chairman of the 14th Finance Commission of India? [RRB RPF Constable Exam, 18.02.2019 Shift-II]

(1) Raghuram Rajan
(2) Abhijit Sen
(3) Y.V. Reddy
(4) Urjit Patel

Correct Answer: (3) Y.V. Reddy

Solution:Dr. Y. V. Reddy was appointed the Chairman of the 14th Finance Commission.

• The Fifteenth Finance Commission (XVFC) led by Chairman NK Singh submitted its Report for the period 2021-22 to 2025-26 in November 2020.

• Arbind Panagariya was appointed (Jan, 2023) as the 16th Finance Commission chairman.

35. The sale or purchase of secondary government securities through auction by the Reserve Bank of India is called? [RRB RPF Constable Exam, 18.02.2019 Shift-II]

(1) Open Market Operation
(2) Cash Reserve Operation
(3) Secondary Operation
(4) Repo auction

Correct Answer: (1) Open Market Operation

Solution:Open Market Operations (OMOs) refers to buying and selling of bonds issued by the Government in the open market.

• OMO is one of the quantitative tools that RBI uses to smoothen the liquidity conditions through the year and minimise its impact on the interest rate and inflation rate levels.

36. The long term financial market of an economy is known as? [RRB RPF Constable Exam, 18.02.2019 Shift-II]

(1) Currency Market
(2) Capital Market
(3) Forward Market
(4) Securities Market

Correct Answer: (2) Capital Market

Solution:A capital market is intended to be for the issuance and trading of long-term securities.

• Examples of highly organised capital markets are the New York Stock Exchange, American Stock Exchange, London Stock Exchange and Index.

37. When was the Atal Pension Scheme started? [RRB RPF Constable Exam, 19.02.2019 Shift-II]

(1) 2000
(2) 2015
(3) 2005
(4) 2010

Correct Answer: (2) 2015

Solution:The 'Atal Pension Yojana (APY) was launched on 9th May, 2015, with the objective of creating a universal social security system for all Indians, especially the poor, the under-privileged and the workers in the unorganised sector.

• It provides a minimum guaranted pension ranging from Rs 1000 to Rs 5000 on attaining 60 years of age.

38. The pradhan Mantri suraksha Bima Yojana is arailable to the people aged between_________. [RRB RPF Constable Exam, 19.02.2019. Shift-II]

(1) 18-70 years
(2) 18-50 years
(3) 18-80 years
(4) 18-60 years

Correct Answer: (1) 18-70 years

Solution:The Pradhan Mantri Suraksha Bima Yojana (PMSBY) was launched on 9th May, 2015.

• It is available to people between 18 and 70 years of age with bank accounts.

• It has an annual premium of? 12 exclusive of taxes.

39. The sunrise industries are________. [RRB RPF Constable Exam, 19.02.2019 Shift-II]

(1) Established Industry
(2) Old Industries
(3) Emerging Industry
(4) Decaying Industry

Correct Answer: (3) Emerging Industry

Solution:'Sunrise Industries' are those industries which are emerging.

• For example, the Information Technology industry, wellness, hospitality and knowledge industries etc.

40. What is the full form of Digital Literacy Program (DISHA)? [RRB RPF Constable Exam, 19.02.2019 Shift-II]

(1) Development Literacy Campaign
(2) Democratic Literacy Campaign
(3) Digital Literacy Campaign
(4) Domestic Literacy Campaign

Correct Answer: (3) Digital Literacy Campaign

Solution:The Pradhan Mantri Gramin Digital Saksharta Abhiyan or (PMGDISHA) scheme being initiated under Digital India Programme would cover six crore households in rural areas to make them digitally literate.

• Earlier, the government had implemented the National Digital Literacy Mission, or the Digital Saksharta Abhiyan (DISHA) or National Digital Literacy Mission (NDLM).

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