Economics (Part-III) (Railway)

Total Questions: 50

11. What is the targeted annual average growth rate in GDP as per the Eleventh Five-Year Plan? [RRB NTPC CBT-1 Exam, 03.03.2021 (Shift-I)]

(1) 9%
(2) 8%
(3) 7%
(4) 6%

Correct Answer: (1) 9%

Solution:Duration of Eleventh Five year plan was 2007 to 2012.

• The main there of this plan was "rapid and more inclusive growth".

• Target annual average growth rate was 9% but india recorded 8% annual average growth in 11th plan.

12. Which of the following is NOT a 'Maharatna' status company? [RRB NTPC CBT-1 Exam, 03.03.2021 (Shift-I)]

(1) IOCL
(2) GAIL
(3) BHEL
(4) MTNL

Correct Answer: (4) MTNL

Solution:Mahanagar Telephone Nigam Limited, MTNL, is a wholly owned subsidiary of Bharat Sanchar Nigam Limited headquartered in New Delhi, India.

• It is also a public sector enterprise of Navratna status which is given by Government of India to the best performing state owned companies.

13. Which bank recently (in April 2019) became the 3rd largest bank of India after the merger with two other banks? [RRB NTPC CBT-1 Exam, 05.03.2021 (Shift-II)]

(1) Bank of Baroda
(2) Punjab National Bank
(3) State Bank of India
(4) Indian bank

Correct Answer: (1) Bank of Baroda

Solution:The government had merged Dena Bank and Vijaya Bank with Bank of Baroda, creating the third-largest bank by loans in the country.

• The amalgamation is the firstever three-way consolidation of banks in the country, with a combined business of Rs14.82 trillion (short scale), making Bank of Baroda, the third largest bank after State Bank of India (SBI) and ICICI Bank.

14. The share of the Government of India (GOI) in NABARD has Increased to_____ in April 2019. [RRB NTPC CBT-1 Exam, 05.03.2021 (Shift-II)]

(1) 50.00%
(2) 100%
(3) 90.00%
(4) 75%

Correct Answer: (2) 100%

Solution:The RBI divested its entire stake in NABARD and NHB amounting to? 20 crore (Rupee twenty crore) and ? 1450 crore (Rupees one thousand four hundred and fifty crore) on February 26, 2019 and March 19, 2019 respectively.

• With this, the Government of India now holds 100% stake in both the financial institutions.

15. The first 5 year plan of the Government of India was based on the: [RRB NTPC CBT-1 Exam, 05.03.2021 (Shift-II)]

(1) Harrod-Domar model
(2) Keynesian IS/LM model
(3) P.C. Mahalanobis model
(4) Gadgil model

Correct Answer: (1) Harrod-Domar model

Solution:First Five-Year Plan in Indiafocused primarily on the development of the primary sector, specifically agriculture and irrigation.

• Drafted by economist K.N. Raj, the plan was based on the Harrod-Domar model, which suggested that growth was dependent on two things.

16. OTPC is a joint venture of which of the following PSUs? [RRB NTPC CBT-1 Exam, 05.03.2021 (Shift-II)]

(1) ONGC
(2) CIL
(3) SAIL
(4) NTFC

Correct Answer: (1) ONGC

Solution:OTPC is a joint venture company of ONGC.

• ONGC Tripura Power Company (OTPC) is a 726.3MW combined-cycle gas turbine power plant located in the Palatana village of the Udaipur District in Tripura.

17. The second-largest employer after agriculture in India is the________ sector. [RRB NTPC CBT-1 Exam, 09.03.2021 (Shift-I)]

(1) chemical
(2) telecommunication
(3) mining
(4) textiles

Correct Answer: (4) textiles

Solution:Indian textile & Handicrafts industry is one of the largest employment generators after agriculture.

• The sector employs about 7 million people directly and indirectly, which include a large number of women and people belonging to the weaker sections of the society.

18. What does the issue price in Public Distribution System (PDS) indicate? [RRB NTPC CBT-1 Exam, 09.03.2021 (Shift-I)]

(1) No relation of issue price with market price
(2) Price lower than the market price
(3) Price higher than the market price
(4) Price equal to the market price

Correct Answer: (2) Price lower than the market price

Solution:The Public distribution system (PDS) is an Indian food Security System established under the Ministry of Consumer Affairs, Food, and Public Distribution.

• The Minimum Support Price(MSP) is lower than the market price.

• A price lower than the market price is called issue price.

19. The Goods and services Tax (GST) is levied on: [RRB NTPC CBT-1 Exam, 09.03.2021 (Shift-I)]

(1) Destination where the goods or services are consumed
(2) Destination where the goods or services are procured
(3) In each state where the goods or services are in transit mode
(4) Source where the goods or services are produced

Correct Answer: (1) Destination where the goods or services are consumed

Solution:Goods and Services Tax (GST) is a destination based tax, i.e., the goods/services will be taxed at the place where they are consumed and not at the origin.

• In destination-based taxation, exports are allowed with zero taxes whereas imports are taxed on par with the domestic production.

• Goods and Services Tax (GST) is a type of Indirect tax.

• It came into force all over the India on 1 July, 2017.

• In comes into existence on the recommend after of Vijay Kelkar committee.

20. The Reserve Bank of India has established a comprehensive Digital Payment Index (DPI) to record the degree of digitization of payments with as base period: [RRB NTPC CBT-1 Exam, 09.03.2021 (Shift-I)]

(1) March 2020
(2) March 2018
(3) March 2019
(4) March 2017

Correct Answer: (2) March 2018

Solution:The Reserve Bank of India (RBI) has constructed a composite Digital Payments Index (DPI) to capture the extent of digitisation of payments across the country.

• It has been constructed with March 2018 as the base period, i.e. DPI score for March 2018 is set at 100.

• It will be published on RBI's website on a semi-annual basis from March 2021 onwards with a lag of 4 months.

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