The Fourth Five-Year Plan (1969–1974) set before itself the two principal objectives – growth with stability and progress towards self – reliance. It laid great emphasis on agriculture’s growth rate so that a chain reaction can start. The Fifth Five-Year Plan (1974–1979) also focused on self-reliance in agricultural production and defense.

Correct Option: D

The Fourth Five-Year Plan (1969–1974) set before itself the two principal objectives – growth with stability and progress towards self – reliance. It laid great emphasis on agriculture’s growth rate so that a chain reaction can start. The Fifth Five-Year Plan (1974–1979) also focused on self-reliance in agricultural production and defense.

Lately, the manufacturing industry has been witnessing a positive overall growth across spectrum. This can be said on the basis of the Industrial Outlook survey that was conducted by the Reserve Bank of India (RBI) for 2010 on the Indian manufacturing sector. As per UNIDO’s new report titled ‘Yearbook of Industrial Statistics 2010’, India has emerged as one of the world’s top 10 countries in industrial production, while as per the report ‘2010 Global Manufacturing Competitiveness Index’, by Deloitte Touche Tohmatsu and the US Council on Competitiveness, India has ranked second for its manufacturing competence.

Correct Option: A

Lately, the manufacturing industry has been witnessing a positive overall growth across spectrum. This can be said on the basis of the Industrial Outlook survey that was conducted by the Reserve Bank of India (RBI) for 2010 on the Indian manufacturing sector. As per UNIDO’s new report titled ‘Yearbook of Industrial Statistics 2010’, India has emerged as one of the world’s top 10 countries in industrial production, while as per the report ‘2010 Global Manufacturing Competitiveness Index’, by Deloitte Touche Tohmatsu and the US Council on Competitiveness, India has ranked second for its manufacturing competence.

The agricultural policy of the Government of India envisages substantial credit flow to increase agricultural production and productivity. Banks provide term finance to farmers for development purposes and short term loans for production purposes. Besides, NABARD provides its refinance for the promotion of agriculture in India.

Correct Option: D

The agricultural policy of the Government of India envisages substantial credit flow to increase agricultural production and productivity. Banks provide term finance to farmers for development purposes and short term loans for production purposes. Besides, NABARD provides its refinance for the promotion of agriculture in India.

An open market operation (also known as OMO) is an activity by a central bank to buy or sell government bonds on the open market. A central bank uses them as the primary means of implementing monetary policy. The usual aim of open market operations is to control the short term interest rate and the supply of base money in an economy, and thus indirectly control the total money supply.

Correct Option: C

An open market operation (also known as OMO) is an activity by a central bank to buy or sell government bonds on the open market. A central bank uses them as the primary means of implementing monetary policy. The usual aim of open market operations is to control the short term interest rate and the supply of base money in an economy, and thus indirectly control the total money supply.

As per the Union Budget 2011-12, direct taxes contributed between 50-60 per cent of tax revenue. Corporation Tax is the single biggest income source for the government. The contributions of excise and customs duties have been gradually declining after 1990-91 reform due to rationalization of tax structures and reduction of levy rates. Excise duties, at present, contribute 17 per cent; Custom duties: 17 per cent, while Service Duty contributes 9 per cent. In the early 1990s, the share of net corporate tax revenues in the total tax revenues (from direct and indirect tax) stood at 12.4 per cent, while that of net excise duty was 32 per cent. However, over the years, economic gains in India Inc have trickled down to the exchequer in the form of higher Corporate Tax collections.

Correct Option: B

As per the Union Budget 2011-12, direct taxes contributed between 50-60 per cent of tax revenue. Corporation Tax is the single biggest income source for the government. The contributions of excise and customs duties have been gradually declining after 1990-91 reform due to rationalization of tax structures and reduction of levy rates. Excise duties, at present, contribute 17 per cent; Custom duties: 17 per cent, while Service Duty contributes 9 per cent. In the early 1990s, the share of net corporate tax revenues in the total tax revenues (from direct and indirect tax) stood at 12.4 per cent, while that of net excise duty was 32 per cent. However, over the years, economic gains in India Inc have trickled down to the exchequer in the form of higher Corporate Tax collections.