IASbaba’s 60 Day Plan- Prelims Test 2018 ECONOMICS & CURRENT AFFAIRS [Day 38]

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Hello Friends, 

Welcome to Day-38.

Importance of Self – Tracking: Learning from Last Year

Last year, aspirants used to comment their answers in the comment box on daily basis. There were huge participation in discussion. Putting answers in comment box has been very effective to self-track yourself after updating the score. In the end, you can cross check your performance through Disqus profile.

It was highly effective in the last edition of 60 Days that propelled aspirants to monitor their performance and learn through discussion. Let you solve these questions with full honesty and write your result in the comment box. Interact with peers to know your mistakes.

The importance of this initiative stands time-bound and aggressive reverse engineering to learn the concepts. Many of you must be busy with your own strategy but let us tell you honestly that in the last two months, it is very important to revise and consolidate your learning. Just reading won’t suffice.

So, take out few hours from your schedule and make it a revision exercise.

How can you make the best use of it?

Be honest to your effort and do not start competing with XYZ aspirants here just for the sake of marks. It is more important for you to introspect and check your learning than focusing on others. Try to answer the questions in 20 minutes only. 

Do not get into negative feeling that I don’t have enough knowledge to answer these questions. Feel like you are taking the real exam. What would be your response then?

The same will be replicated in UPSC exam. Here, you get marks only and nothing else matters. So, make effort to know the answers to all questions. Do not cheat 😛

DETAILED MICRO ANALYSIS MATRIX SAMPLE– is given here. You can download this and do an assessment for yourself.  DOWNLOAD

• You can copy paste the same format/modify as per your need in Google Spreadsheet and update it on daily basis.
• Feedback talks about daily test results.
• Follow-up talks about daily target achieved from sources and the number of revisions to do/done and dates. Sources column is to ensure that aspirants do not run behind various sources and follow the same throughout.

Are you ready? Let’s start!

[Day 38]: ECONOMICS AND CURRENT AFFAIRS

Q.1) The National Investment Fund (NIF) would be utilized for the following purposes:

1. Recapitalization of private sector banks and private-sector insurance companies.
2. Investment by the government in RRBs, IIFCL, NABARD, Exim Bank.
3. Equity infusion in various metro projects.
4. Investment in Indian Railways towards capital expenditure.

Which of the above statements is/are correct?

1. 1, 2 and 3 only
2. 2, 3 and 4 only
3. 1, 3 and 4 only
4. All the above

Q.2) Consider the following pairs.

Which of the above pairs is/are correctly matched?

1. 1, 2 and 3
2. 2 only
3. 3 only
4. 2 and 3 only

Q.3) Consider the following statements about Khadi and Village Industries Commission (KVIC):

1. It is a quasi-judicial organization under the Ministry of MSME.
2. It is one of the major organizations in the decentralized sector for generating sustainable on-farm employment opportunities in rural areas.
3. It is concerned only with self-employment opportunities in rural areas.

Which of the above statements is/are correct?

1. 1, 2 and 3
2. 2 only
3. 1 and 2 only
4. None

Q.4) Consider the following statements regarding Corporate Social Responsibility (CSR) trend in 2017:

1. Maharashtra is at the top compared to other states when it comes to the number of CSR projects being implemented.
2. Education and healthcare accounted for more than 50% of the total CSR spends in 2017.
3. PSUs implemented more CSR projected than non-PSUs.

Which of the above statements is/are correct?

1. 1, 2 and 3
2. 2 only
3. 1 and 2 only
4. None

Q.5) Consider the following pairs.

Which of the above pairs is/are correctly matched?

1. 1, 2 and 3
2. 2, 3 and 4 only
3. All the above
4. 1 and 4 only

Q.6) Which of the following are true about MSME sector:

1. Cheap Labor and minimum overhead.
2. Encourages Inclusive Growth.
3. Creates large scale employment.

Select the correct answer using the codes given below.

1. 1, 2 and 3
2. 2 only
3. 1 and 2 only
4. None

Q.7) Consider the following statements about Udyog Aadhaar Memorandum (UAM):

1. It had been notified under MSME Development Act, 2006.
2. UAM replaces the filing of Entrepreneurs’ Memorandum.
3. Supporting documents are required at the time of online filing of UAM.

Which of the above statements is/are correct?

1. 1, 2 and 3
2. 2 only
3. 1 and 2 only
4. None

Q.8) In the Independence day speech, the PM urged for ‘Zero effect, Zero defect’. What is the correct context for it?

1. Zero effect on the health of workers and Zero defect in the Finance Sheet.
2. Zero defect in the manufactured goods by the industry and zero effect on the environment.
3. Zero defect in the process of manufacturing and zero effect in inflation
4. Zero defect in agricultural produce and zero effect on productivity.

Q.9) Which of the following statements are correct regarding ‘Green’ GDP?

1. It accounts for the total amount of agricultural goods produced in the country.
2. It accounts for the monetized loss of biodiversity and costs caused by climate change.

Select the code from following:

1. 1 only
2. 2 only
3. Both 1 and 2
4. Neither 1 nor 2

Q.10) Which of the following categories of PSUs were created latest?

1. Navratnas
2. Miniratnas
3. Maharatnas
4. All categories were created in the same year

Q.11) National Investment Fund (NIF) is seen as a landmark step in restructuring of the PSUs. Which of the following statements are correct regarding NIF?

1. It receives the proceedings from disinvestment in PSUs.
2. It is maintained as a part of Consolidated fund of India.
3. 75% of the annual income of the Fund will be used to finance selected social sector schemes, which promote education, health and employment.

Select the code from following:

1. 1 and 2
2. 2 and 3
3. 1 and 3
4. All of the above

Q.12) Which of the following Industries are reserved for Public Sector in India?

1. Production of Atomic Energy
2. Separation and enrichment of fissionable material
3. High speed train project and dedicated Freight lines
4. Defence

Select the code from following:

1. 1 and 2
2. 1,2 and 3
3. 1,3 and 4
4. All of the above  

Q.13) In which of the following sectors, 100% FDI is allowed in India?

1. Infrastructure
2. Automotive
3. Pharmaceuticals
4. Railways

Select the code from following:

1. 1 and 3
2. 1,2 and 3
3. 2,3 and 4
4. All of the above

Q.14) Index of Industrial Production (IIP) is an index which helps us understand the growth of various sectors in the Indian economy. Which of the following statements are correct regarding IIP?

1. Index of Industrial Production (IIP) is released by the Central Statistics Office (CSO) of the Ministry of Statistics and Programme Implementation.
2. The Eight Core Industries comprise 100% of the weight of items included in the Index of Industrial Production (IIP).
3. Out of the eight core industries, Cement has the least weightage in IIP.

Select the code from following:

1. 1 and 3
2. 1 only
3. 2 and 3
4. All of the above

Q.15) Recently the NITI Ayog has suggested Strategic Sale of nearly 25 PSUs, in this context consider the following statements with reference to Strategic Sale of PSUs

1. In Strategic sale the government retains the majority ownership of the company
2. In Strategic sale the government’s stake is sold to the highest bidder

Which of the following statements is/are correct?

1. 1 only
2. 2 only
3. Both 1 and 2
4. Neither 1 nor 2

Q.16)  Indian capital goods industry is facing severe competition from Chinese companies over the last few years. The major factors responsible for increasing Chinese competitiveness are?

1. Artificially appreciated Chinese currency.
2. Much lower interest rates.
3. Simpler labour laws.
4. Tax advantages and subsidies given by the Government.

Which of the above statements are correct?

1. 1, 2 and 3
2. 2, 3 and 4
3. 1, 3 and 4
4. All of the above

Q.17) Consider the following statements with reference to the Venture capitalists (VCs)

1. They invest money collected from a pool of investors
2. They provide the seed capital to start a business
3. Investment by VCs can be either as debt or as equity

Which of the following statements is/are correct?

1. 1 and 2 only
2. 2 and 3 only
3. 1 and 3 only
4. All of the above

Q.18) Consider the following statements with reference to the Section 25 companies under the Companies Act, 1956

1. These companies promote commerce, art, science, religion, charity or any other useful purpose
2. Section 25 companies do not have any profit motive
3. No PSU’s can be registered as a section 25 company

Which of the above statements is/are correct?

1. 1 and 2 only
2. 1 and 3 only
3. 2 and 3 only
4. All of the above

Q.19) MRTP (Monopolies and Restrictive Trade Practices) Act was considered a hurdle in India’s growth story. Which of the following are correct about MRTP Act?

1. The act aimed to prevent concentration of economic power, provide for control of monopolies, and protect consumer interest.
2. A Monopolistic Trade Practice is that which represents abuse of market power in production and marketing of goods and services by eliminating potential competitors, charging unreasonably high prices, preventing or reducing competition, limiting technical development, deteriorating product quality, etc.
3. Currently it is the Competition Commission of India which is dealing with similar functions.

Select the correct answer:

1. 1 only
2. 2 only
3. All of the above
4. None of the above

Q.20) Term ‘Fragile Five’ is often in news. Identify the appropriate definition of the term:

1. It is a term coined to represent association of five major emerging national economies.
2. It is a term coined to represent emerging market economies that have become too dependent on unreliable foreign investment to finance their growth ambitions.
3. It is a term coined to represent five of the most economically weak eurozone nations during the European debt crisis.
4. It is a term being used to describe markets which have witnessed economic turmoil in recent years.

Q.21) Consider the following statements about National Financial Reporting Authority (NFRA)

1. The Companies Act 2013 provides for setting up NFRA.
2. NFRA will set accounting and auditing standards, monitor and enforce compliance with the standards, and oversee the accounting profession’s record of ensuring compliance.

Which of the statements given above is/are correct?

1. 1 only
2. 2 only
3. Both 1 and 2
4. Neither 1 nor 2

Q.22) Consider the following statements about ‘GAVI Alliance’

1. It is an inter-governmental partnership to increase access to immunisation based in New York
2. 100% of GAVI’s funding is from governments committed to Gavi’s mission of saving children’s lives
3. In 2014, India became the first implementing country donating to Gavi

Select the correct statements

1. 1 and 2
2. 1 and 3
3. 3 Only
4. None of the above

Q.23) ‘OPEX Model’, is sometimes seen in news in the context of

1. Solar Energy
2. Piped Natural Gas
3. CNG Kits in vehicles
4. Mining of Cryptocurrency

Q.24) Consider the following statements about the ‘Mogs’

1. They are Arakanese descendants who migrated to Meghalaya
2. People belonging to the Mog community are the followers of Hinduism
3. ‘Sangrai dance’ is performed by the Mog community

Select the correct statements

1. 1, 2 and 3
2. 1 and 2
3. 1 and 3
4. 3 Only

Q.25) Consider the following statements about ‘Under2 Coalition’

1. It is a commitment driven by state, regional and provincial governments to reduce their GHG emissions towards net-zero by 2050.
2. Telangana and Chhattisgarh are signatories to this pact from India

Select the correct statements

1. 1 Only
2. 2 Only
3. Both 1 and 2
4. Neither 1 nor 2

Q.26) Consider the following statements about ‘Plug Nursery’

1. It is a technique wherein seedlings for different crops are nurtured under controlled environment in a net house
2. It is used for commercially raising vegetables and bedding plants

Select the correct statements

1. 1 Only
2. 2 Only
3. Both 1 and 2
4. Neither 1 nor 2

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