Economics (Part-VI) (Railway)

Total Questions: 57

31. The Development Fund for MFI's is managed by the_________. [RRB Group 'D' CBT Exam, 06.10.2022 (Shift-II)]

(1) Reserve Bank of India
(2) State Bank of India of India
(3) Ministry of Finance, Govt
(4) NABARD

Correct Answer: (1) Reserve Bank of India

Solution:According to the Micro Finance Institutions (Development and Regulation) Act 2012, the Development Fund for MFIs is to be managed by the RBI.

• The then Finance Minister Pranab Mukherje had first announced the setting up of a Rs 100-crore 'India Microfinance Equity Fund" to support smaller microfinance institutions (MFIs) on 1 March 2011.

32. In which of the following years was Wipro Ltd incorporated? [RRB Group 'D' CBT Exam, 06.10.2022 (Shift-II)]

(1) 1945
(2) 1959
(3) 1952
(4) 1947

Correct Answer: (1) 1945

Solution:Wipro Ltd was incorporated on 29 December 1945 in Amalner, Karnataka by Mohamed Premji as Western India Vegetable Products Limited.

• It was initially set up as a manufacturer of vegetable and refined oils under the trade names of Kisan, Sunflower, and Camel.

• During the 1970s and 1980s, the company shifted its focus to the IT industry.

33. As of April 2022, what is the FDI limit in the insurance sector in India? [RRB Group 'D' CBT Exam, 06.10.2022 (Shift-II)]

(1) up to 36%
(2) up to 74%
(3) up to 26%
(4) up to 46%

Correct Answer: (2) up to 74%

Solution:At present, the upper limit for FDI is 74% Into companies that write insurance cover.

• Parliament had, on 22 March 2021, passed the Insurance Amendment Bill 2021 to increase the foreign direct investment (FDI) limit in the insurance sector to 74% from 49%.

• For insurance intermediaries, like brokerages and others, who bring together customers and insurance firms, 100% foreign investment is allowed.

34. A receipt that does NOT lead to a claim on the government is known as a_________. [RRB Group 'D' CBT Exam, 07.10.2022 (Shift-I)]

(1) claimed receipt
(2) revenue receipt
(3) redeemable receipt
(4) capital receipt

Correct Answer: (2) revenue receipt

Solution:The receipts that do not create any liabilities and do not lead to a claim on the government are called revenue receipts.

• For example, the taxes that are levied by the government are regarded as revenue receipts.

• These revenue receipts are nonredeemable and can be classified into two categories, namely: tax revenue and non-tax revenue.

35. Select the correct statement: [RRB Group 'D' CBT Exam, 07.10.2022 (Shift-I)]

(1) A fiscal deficit is a shortfall in a government's income compared with its spending.
(2) An annual statement of the government's fiscal revenue and fiscal expenditure known fiscal budget.
(3) Capital budget is not a part of govenment budget.
(4) The amount collected by the government in the form of interest, fees, and dividends is known as tax revenue receipt.

Correct Answer: (1) A fiscal deficit is a shortfall in a government's income compared with its spending.

Solution:A fiscal deficit is a shortfall in a government's income compared with its spending

• The difference between total revenue and total expenditure of the government is termed as fiscal deficit.

• Fiscal deficit arises when the expenditure of a government is more than the revenue generated by the government in a given fiscal year.

• It happens due to events like a major rise in capital expen diture or deficit arising from revenue

36. Which of the following best defines the Fiscal Deficit in Indian budget? [RRB Group 'D' CBT Exam, 07.10.2022 (Shift-I)]

(1) Total expenditure plus total receipt including borrowing
(2) Total expenditure minus total receipt other than borrowing
(3) Capital expenditure minus capital recipts
(4) Revenue expenditure plus capital expenditure minus revenue receipts

Correct Answer: (2) Total expenditure minus total receipt other than borrowing

Solution:Fiscal deficit refers to the excess of total expenditure over total receipts (excluding borrowings) during the given fiscal year, Fiscal Deficit = Total Expenditure - Total Receipts excluding borrowings.

• The extent of fiscal deficit is an indication of how far the government is spending beyond its means.

37. Which of the following is NOT a scheme or initiative run by Ministry of Youth Affairs and Sports? [RRB Group 'D' CBT Exam, 07.10.2022 (Shift-I)]

(1) National Sports Development Fund
(2) Shyama Prasad Mukherjee National Sports Welfare Fund
(3) Khelo India Scheme
(4) National Sports Awards

Correct Answer: (2) Shyama Prasad Mukherjee National Sports Welfare Fund

Solution:Some of the initiatives run by Ministry of Youth Affairs and Sports are as follows:

• National Sports Development Fund: established in 1998 under the Charitable Endowments Act 1890.

• Khelo India Scheme: launched in the year 2018 for the development of sports in India

• National Sport Awards: awarded annually by the Ministry of Youth Affairs and Sports.

38. Which ministry launched a special campaign namely Kanya Shiksha Pravesh Utsav launched on 7th March, 2022 to re-enroll out of school adolescent girls (OoS AG) in the age group of 11-14 years? [RRB Group 'D' CBT Exam, 07.10.2022 (Shift-I)]

(1) Ministry of Home Affairs
(2) Ministry of Women and Child Development
(3) Ministry of Education
(4) Ministry of Health and family Welfare

Correct Answer: (2) Ministry of Women and Child Development

Solution:The Ministry of Women and Child Development, on 7 March 2022, launched a special campaign namely Kanya Shiksha Pravesh Utsav to reenroll out of school adolescent girls (OoS AG) In the age group of 11-14 years.

• The main components of the scheme are Social mobilization & Awareness and Incentivization of AWWs for Counselling and Referrals.

39. Government of India signed an agreement on 17th November, 1955, with Associated Electrical Industries (AEI), UK, for the establishment of a factory at for the manufacture of heavy electrical equipment in India. The company was registered as Heavy Electricals (India) Limited (HE (1) L) in the Public Sector. [RRB Group 'D' CBT Exam, 07.10.202 (Shift-III)]

(1) Hyderabad
(2) Ahmedabad
(3) Lucknow
(4) Bhopal

Correct Answer: (4) Bhopal

Solution:The Government of India, on 17 November 1955 signed an agreement with Associated Electrical Industries (AEI), UK, for the establishment of a factory at Bhopal complete in all respects for the manufacture of heavy electrical equipment in India.

• The company was registered as Heavy Electricals (India) Limited (HE(I)L) in the Public Sector under the Ministry of Industry and Commerce on 29August 1956.

40. Which of the following is an economic situation in which all-available labour resources are being used in the most efficient way possible ? [RRB Group 'D' CBT Exam, 07.10.2022 (Shift-III)]

(1) Full employment
(2) Null employment
(3) Under employment
(4) Over full employment

Correct Answer: (1) Full employment

Solution:Full employment is an economic situation in which all available labor resources are being used in the most efficient way possible.

• Full employment embodies the highest amount of skilled and unskilled labor that can be employed within an economy at any given time.

• It is seen as the ideal employment rate within an economy at which no workers are involuntarily unemployed.

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