Question 1

The 'Ease of Doing Business Index' is prepared and published by

Accepted Answer

The 'Ease of Doing Business Index' is released and published annually by the World Bank Group. It evaluates regulations affecting businesses, including starting a business, construction permits, access to electricity, credit, and protection of minority investors. The index helps countries benchmark their regulatory environment for business. [60-62ND BPSC PRELIMS EXAM, 2017]

Question 2

Service Tax was introduced in India on the recommendation of

Accepted Answer

Service Tax was introduced in India in the Union Budget of 1994-95 on the recommendation of the Chelliah Committee to broaden the tax base. Initially, service tax was levied at 5% on three services: telephone, general insurance, and stock brokers. The tax base was subsequently expanded over the years. [60-62ND BPSC PRELIMS EXAM, 2017]

Question 3

The economist, who for the first time scientifically determined National Income in India is

Accepted Answer

Dadabhai Naoroji made the first attempt to estimate India's national income in 1867-1868, estimating per capita income at Rs. 20. The first scientific calculation of national income was done by VKRV Rao in 1931-32. National income measures the total value of goods and services produced by a country in a year. [60-62ND BPSC PRELIMS EXAM, 2017]

Question 4

Which Indian state has the largest number of cotton textile mills?

Accepted Answer

The cotton textile industry is one of the largest industries in India, providing significant employment after railways. Maharashtra has the largest number of cotton textile mills. The first attempt to establish this industry was in 1818 at Fort Gloster, which failed. The first successful cotton mill was set up in Mumbai in 1856 by Kawasji Dabur Nanabhai. [60-62ND BPSC PRELIMS EXAM, 2017]

Question 5

Which of the following is not a cash crop?

Accepted Answer

Crops are divided into food crops and cash crops. Food crops include rice, wheat, maize, jowar, and pulses, primarily for consumption. Cash crops are grown for commercial purposes, such as jute, groundnut, sugarcane, mustard, cotton, potato, and tea. Jowar is primarily a food crop. [60-62ND BPSC PRELIMS EXAM, 2017]

Question 6

First Five Year Plan of India was based on the

Accepted Answer

The First Five Year Plan (1951-1956) was based on the Harrod-Domar growth model. It prioritized agriculture and irrigation. The plan achieved a growth rate of 3.6% against the target of 2.1%. Key projects included Bhakra Nangal, Damodar Valley, and Hirakud multipurpose projects. The Community Development Program (1952) and National Extension Service were outcomes of the plan. [60-62ND BPSC PRELIMS EXAM, 2017]

Question 7

Black revolution is related to

Accepted Answer

Different 'color revolutions' in India represent growth in specific sectors: Green - agriculture, White - milk, Blue - fish, Pink - lobster, Yellow - sunflower/oilseeds, Silver - egg production, Brown - non-conventional energy, Black - self-reliance in mineral oil, Rainbow - overall agricultural development. Black Revolution focuses on crude oil production and energy self-sufficiency. [60-62ND BPSC PRELIMS EXAM, 2017]

Question 8

Which of the following tax is levied by the Union and collected and appropriated by states?

Accepted Answer

Stamp duty is levied by the Union Government but collected and appropriated by State Governments. This division ensures central guidelines with state-level collection and revenue usage. Other taxes listed are typically either state-exclusive or central-exclusive taxes. [60-62ND BPSC PRELIMS EXAM, 2017]

Question 9

Bank rate means

Accepted Answer

Bank rate is the official interest rate at which a country's central bank (RBI in India) lends to commercial banks. It is a key instrument of monetary policy to control money supply, credit availability, and inflation in the economy. [60-62ND BPSC PRELIMS EXAM, 2017]

60th-62nd Prelims 2017