Question 1

The one rupee note bears the signature of the

Accepted Answer

The one rupee note is signed by the Secretary, Ministry of Finance. The Reserve Bank of India (RBI) issues all other denominations of currency notes. The RBI also helps distribute one rupee notes, coins, and small coins across the country on behalf of the government. [48TH -52ND BPSC PRELIMS EXAM, 2008]

Question 2

The period of plan-holiday in India was

Accepted Answer

The plan-holiday in India was from 1966 to 1969. This occurred due to the failure of the Third Five Year Plan, ending on March 31, 1966. The government suspended the regular five-year plan and introduced annual Three-Year Plans in its place. [48TH -52ND BPSC PRELIMS EXAM, 2008]

Question 3

The 'Rolling Plan' concept in national planning was introduced by

Accepted Answer

The Rolling Plan was implemented by the Janata Party government starting on April 1, 1978. It ended the Fifth Five-Year Plan a year earlier and introduced an annual plan that could be revised yearly according to economic requirements. [48TH -52ND BPSC PRELIMS EXAM, 2008]

Question 4

According to the World Bank’s latest development report, the position of the Indian economy in the world is

Accepted Answer

As per the latest World Bank development report, India is the second largest economy in the world in terms of purchasing power parity. [48TH -52ND BPSC PRELIMS EXAM, 2008]

Question 5

If the Cash Reserve Ratio is lowered by the RBI, its impact on credit creation will be

Accepted Answer

Lowering the Cash Reserve Ratio (CRR) by the RBI increases the cash funds available with banks. This leads to an increase in credit creation, allowing banks to lend more. The CRR is the mandatory amount banks must keep with the RBI, which can range from 3% to 15% of their deposits. [48TH -52ND BPSC PRELIMS EXAM, 2008]

Question 6

Indian Development Forum was earlier known as

Accepted Answer

The Indian Development Forum (IDF) was earlier known as the Aid India Consortium, established in 1958 by the World Bank to provide financial assistance during India's Second and Third Five Year Plans. It was renamed IDF in June 1994. [48TH -52ND BPSC PRELIMS EXAM, 2008]

Question 7

Second Green Revolution will be related with

Accepted Answer

The Second Green Revolution in India emphasizes biotechnology. It promotes the use of pesticides, organic and chemical fertilizers, rainwater harvesting, plantation of new varieties, and agro-diversity standards to increase food security. [48TH -52ND BPSC PRELIMS EXAM, 2008]

Question 8

Amended modvat is related to

Accepted Answer

Amended MODVAT (Modified Value Added Tax) relates to sales tax. It is an indirect tax levied at every stage of exchange of goods and services, from production to final consumption. [48TH -52ND BPSC PRELIMS EXAM, 2008]

Question 9

The eleventh plan’s objective is

Accepted Answer

The main objective of India's Eleventh Five Year Plan (2007-12) was inclusive growth, combining faster economic growth with social equity to benefit all sections of society. [48TH -52ND BPSC PRELIMS EXAM, 2008]

Question 10

India is true to be

Accepted Answer

India is considered a labor-surplus economy due to its rapidly growing population, which increases by about 21% per decade (~1.71 crore per year). [48TH -52ND BPSC PRELIMS EXAM, 2008]

48th-52nd Prelims 2008