Question 1

One of the problems in calculating National Income in India is

Accepted Answer

National income is the total value of final goods and services produced by an economy during a year, including net income from abroad. Calculating national income in India is challenging due to the large size of the unorganized sector, which is not fully documented or captured in official statistics. The main methods for measuring national income are Production method, Income method, and Expenditure method. [63RD BPSC PRELIMS EXAM, 2018]

Question 2

The apex bank for providing agricultural refinance in India is

Accepted Answer

The National Bank for Agriculture and Rural Development (NABARD) is the apex institution for providing agricultural refinance in India. Established on 12 July 1982 based on the Sivaraman Committee recommendations, NABARD's headquarters is in Mumbai. It plays a crucial role in rural credit, including Kisan Credit Cards and linking self-help groups with banks. [63RD BPSC PRELIMS EXAM, 2018]

Question 3

According to the 14th Finance Commission, the percentage share of states in the net proceeds of the shareable central tax revenue should be

Accepted Answer

The 14th Finance Commission recommended increasing the share of states in central taxes from 32% to 42% for the period April 2015 to 2020. Finance Commissions are constitutional bodies constituted every five years to recommend tax revenue sharing between the Center and States and grants to local bodies like Panchayati Raj Institutions. [63RD BPSC PRELIMS EXAM, 2018]

Question 4

Which sector in India attracts the highest FDI equity flow?

Accepted Answer

Foreign Direct Investment (FDI) is a major driver of economic growth in India. Among sectors, the service sector attracts the highest FDI equity inflow, followed by manufacturing, energy, and infrastructure sectors. Recent FDI policy reforms have expanded opportunities in defense, insurance, civil aviation, broadcasting, and financial services. [63RD BPSC PRELIMS EXAM, 2018]

Question 5

Who amongst the following is the present Governor of RBI?

Accepted Answer

During the year in question, Urjit Patel was the 24th Governor of the RBI. Currently, Shaktikanta Das is the 25th Governor, having assumed office on 11 December 2018. The RBI, established in 1935, regulates monetary policy and maintains financial stability in India. [63RD BPSC PRELIMS EXAM, 2018]

Question 6

The size of marginal land holding in India is

Accepted Answer

Agricultural holdings in India are classified as: Marginal: less than 1 hectare, Small: 1-2 hectares, Semi-medium: 2-4 hectares, Medium: 4-10 hectares, and Large: 10 hectares and above. Marginal holdings form a significant part of Indian agriculture. [63RD BPSC PRELIMS EXAM, 2018]

Question 7

Globalization does not include

Accepted Answer

Globalization is the integration of world economies, societies, and cultures through trade, investment, information, and technology. Measures like reduction in import duties, abolition of import licensing, and free flow of FDI are part of globalization. However, disinvestment of public sector equity is an internal economic policy specific to a country and not considered globalization. [63RD BPSC PRELIMS EXAM, 2018]

Question 8

The prevention of Money laundering Act came into existence into force in India during

Accepted Answer

The Prevention of Money Laundering Act (PMLA) was enacted in 2002 and came into force from 1 July 2005. It targets the concealment and legalization of illegally earned 'black money.' The Act was amended in 2005, 2009, and 2012 to strengthen measures against money laundering. [63RD BPSC PRELIMS EXAM, 2018]

Question 9

TRIMS stands for

Accepted Answer

TRIMS is an acronym for Trade-Related Investment Measures. These are rules and regulations imposed by countries under the WTO framework that govern investment measures related to trade, such as local content requirements, trade balancing rules, and foreign investment conditions. [63RD BPSC PRELIMS EXAM, 2018]

Question 10

NITI Aayog came into existence on

Accepted Answer

NITI Aayog (National Institution for Transforming India) was formed to replace the Planning Commission. It came into existence on 1 January 2015 through a Cabinet resolution. NITI Aayog serves as a policy think tank for the government, providing strategic and directional guidance to foster development. [63RD BPSC PRELIMS EXAM, 2018]

63rd Prelims 2018