Nature of Indian Economy
- Which of the following will not be the part of 'financial inclusion'?
(1) Opening educational centres
(2) Opening wealth management centers by Citibank.
(3) Eradication of poverty.
(4) Report of Khan commission on financial inclusion.
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Financial Indian inculcation is the delivery of financial services, at affordable costs, to section of disadvantaged and low income segments of society. It includes opening educational centers, opening wealth management centres by Citibank etc. Khan commission had put forward its report on financial inclusion
Correct Option: B
Financial Indian inculcation is the delivery of financial services, at affordable costs, to section of disadvantaged and low income segments of society. It includes opening educational centers, opening wealth management centres by Citibank etc. Khan commission had put forward its report on financial inclusion
- Consider the following the statements in regard to the goods and service tax:
(1) The GST shall have two components : one levied by the central, and the other levied by the states.
(2) The central GST and state GST are to be paid to the joint accounts of the center and the states.
(3) While the imports would be zero-rated, the exports would be subjected to the GST.
Which of the above statements is/are correct?
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The Goods and Services Tax (GST) is a Value Added Tax (VAT) replacing all indirect taxes levied on goods and services by the Indian Central and State governments. India is a federal republic, and the GST is thus implemented concurrently by the central and state governments as the Central GST and the State GST respectively. Exports will be zero-rated and imports will be levied the same taxes as domestic goods and services adhering to the destination principle.
Correct Option: A
The Goods and Services Tax (GST) is a Value Added Tax (VAT) replacing all indirect taxes levied on goods and services by the Indian Central and State governments. India is a federal republic, and the GST is thus implemented concurrently by the central and state governments as the Central GST and the State GST respectively. Exports will be zero-rated and imports will be levied the same taxes as domestic goods and services adhering to the destination principle.
- 'Based III' norms target at which of the following?
(1) Improve the banking sector's ability to absorb shocks arising from financial and economic stress.
(2) Improve risk management and governance.
(3) Strengthen banks' transparency.
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Basel III (or the Third Basel Accord) is a global, voluntary regulatory standard on bank capital adequacy, stress testing and market liquidity risk . So all the given statements are correct.
Correct Option: D
Basel III (or the Third Basel Accord) is a global, voluntary regulatory standard on bank capital adequacy, stress testing and market liquidity risk . So all the given statements are correct.
- Which of the following should be considered for 'Pigovian taxation'?
(1) Consumption of cigarettes
(2) Research for new technologies
(3) Burning of fossil fuels
(4) Restoration of lost cultural heritage
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A Pigovian tax is a tax applied to a market activity that is generating negative externalities (costs for somebody else) like cigarette consumption, burning of fossil fuel.
Correct Option: A
A Pigovian tax is a tax applied to a market activity that is generating negative externalities (costs for somebody else) like cigarette consumption, burning of fossil fuel.
- Consider the following statements .
(1) Fiat money is a term used for Gold coins
(2) Currency Deposits Ratio is the proportion of the total deposits commercial banks keep as reserves.
Which of the above statements is/are correct?
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Currency notes and coins are called fiat money. They don't have intrinsic value like a gold or silver coin. The currency-deposit ratio measures the relationship between the cash people have on hand and what they have in their accounts.
Correct Option: D
Currency notes and coins are called fiat money. They don't have intrinsic value like a gold or silver coin. The currency-deposit ratio measures the relationship between the cash people have on hand and what they have in their accounts.
