UPSC EPFO: Indian Economy Test 6

With reference to Regional Rural Banks (RRBs), consider the following statements:

1) They are special type of commercial Banks that provide concessional credit to agriculture and rural sector.

2) RRBs are joint venture between Central government (50%) and State government (50%).

Which of the statements given above is/are correct?

With reference to the Fiscal Responsibility and Budget Management (FRBM) Act, consider the following statements:

1) It is an act of the parliament that set targets for the Government of India to establish financial discipline, improve the management of public funds, strengthen fiscal prudence, and reduce its fiscal deficits.

2) The present act is based on the recommendations of NK Singh Committee.

3) As per latest stats (budgetary figures), the government is aligned with the targets of FRBM.

Which of the statements given above are incorrect?

With reference to Index of Industrial Productions, consider the following statements:

1) The index gives the growth rates of different industry groups of the economy over a specified time period.

2) The eight core industries of India (electricity, steel, crude oil etc) represent about 40% of the weight of items that are included in the IIP.

3) It is calculated and published by the Central Statistical Organisation (CSO) every week.

Which of the statements given above are correct?

With reference to Special Economic Zones (SEZ), consider the following statements:

1) An SEZ is an enclave within a country that is typically duty-free and has different business and commercial laws chiefly to encourage investment and create employment.

2) In India, SEZ has a statute backing as an act which was passed in 2005.

Which of the statements given above is/are correct?

With respect to the National Payments Corporation of India, Consider the following statements:

1) It is an umbrella organisation for operating retail payments and settlement systems in India

2) It is an initiative of Reserve Bank of India (RBI) and Indian Banks‟ Association (IBA)

Which of the statement given above is/are correct?