Indian Economy

46. Reserve Bank of India was nationalized in the year

A. 1935
B. 1945
C. 1949
D. 1969

Correct Answer: C. 1949

47. In India, rural incomes are generally lower than the urban incomes, which of the following reasons account for this?

I. A large number of farmers are illiterate and know little about scientific agriculture
II. Prices of primary products are lower than those of manufactured products
III. Investment in agriculture has been low when compared to investment in industry

A. I, II, III
B. I, II
C. I, III
D. II, III

Correct Answer: A. I, II, III

48. National Agricultural Insurance Scheme replacing Comprehensive Crop Insurance Scheme was introduced in the year

A. 1997
B. 1998
C. 1999
D. 2000

Correct Answer: C. 1999

49. If the fiscal deficit of the Union Government is Rs. 75,000 crores relending to State is Rs. 25,000 crores, interest payments are Rs. 25,000 crores, what is the amount of the primary deficit?

A. Rs. 50,000 crores
B. Rs. 25,000 crores
C. Rs. 1,00,000 crores
D. Rs. 1,25,000 crores

Correct Answer: A. Rs. 50,000 crores

50. Fiscal deficit in the Union Budget means

A. the difference between current expenditure and current revenue
B. net increase in Union Governments borrowings from the Reserve Bank of India
C. the sum of budgetary deficit and the net increase in internal and external borrowings
D. the sum of the monetized deficit and budgetary deficit

Correct Answer: C. the sum of budgetary deficit and the net increase in internal and external borrowings

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