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Exam Year: 2010

  • ,

    Which one of the following authorities makes recommendation to the Governor of a State as to the principles for determining the taxes and duties which may be appropriated by the Panchayats in that particular State?

    (a)

    District Planning Commission

    (b)

    State Finance Commission

    (c)

    Finance Ministry of that State

    (d)

    Panchayti Raj Ministry of that State

    Correct Answer:

    (b)

  • ,

    Why did Buddhism start declining in India in the early medieval times?
    1. Buddha was by that time considered as one of the incarnations of Vishnu and thus became a part of Vaishnavism
    2. The invading tribes from Central Asia till the time of last Gupta king adopted Hinduism and persecuted Buddhists.
    3. The Kings of Gupta dynasty were strongly opposed to Buddhism
    Which of the Statements given above is/are correct?

    (a)

    1 only

    (b)

    1 and 3 only

    (c)

    2 and 3 only

    (d)

    1,2 and 3

    Correct Answer:

    (a)

  • ,

    With reference to Pondicherry (now Puducherry), consider the following statements
    1. The first European power to occupy Pondicherry were the Portuguese
    2. The second European power to occupy Pondicherry were the French
    3. The English never occupied Pondicherry
    Which of the statements given above is/are correct?

    (a)

    1 only

    (b)

    2 and 3 only

    (c)

    3 only

    (d)

    1,2 and 3

    Correct Answer:

    (a)

  • ,

    In India, the tax proceeds of which one of the following as a percentage of gross tax revenue has significantly declined in the last five years?

    (a)

    Service Tax

    (b)

    Personal Income Tax

    (c)

    Excise Duty

    (d)

    Corporation Tax

    Correct Answer:

    (c)

  • ,

    What was the immediate reason for Ahmad Shah Abdali to invade India and fight the Third Battle of Panipat?

    (a)

    He wanted to avenge the expulsion by Marathas of his viceroy Timur Shah from Lahore

    (b)

    The frustrated governor of Jalandhar Adina Beg Khan invited him to invade Punjab

    (c)

    He wanted to punish Mughal administration for non-payment of the revenues of the Chahar Mahal Gujarat Aurangabad Sialkot and Pasrur

    (d)

    He wanted to annex the fertile plains of Punjab up to the borders of Delhi in his kingdom

    Correct Answer:

    (a)

  • ,

    Which one of the following is not a feature of Ltd. Liability Partnership firm?

    (a)

    Partners should be less than 20

    (b)

    Partnership and management need not be separate

    (c)

    Internal governance may be decided by mutual agreement among partners

    (d)

    It is corporate body with perpetual succession

    Correct Answer:

    (a)

  • ,

    With reference to the institution of Banking Ombudsman in India, which one of the statement is not correct?

    (a)

    The Banking Ombudsman is appointed by the Reserve Bank of India

    (b)

    The Banking Ombudsman can consider complaints from Non Resident Indians having accounts in India.

    (c)

    The orders passed by the Banking Ombudsman are final and binding on the parties concerned

    (d)

    The service provided by the Banking Ombudsman is free of any fee

    Correct Answer:

    (c)

  • ,

    In India which of the following is regulated by the Forward Market Commission?

    (a)

    Currency Futures Trading

    (b)

    Commodity Futures Trading

    (c)

    Equity Futures Trading

    (d)

    Both commodities futures and Financial Futures Trading

    Correct Answer:

    (b)

  • ,

    With reference to the National Investment Fund to which the disinvestment proceeds are routed, consider the following statements:
    1. The assets in the National Investment Fund are managed by the Union Ministry of Finance
    2. The national investment fund is to be maintained within the Consolidated Fund of India
    3. Certain Asset Management companies are appointed as the fund managers
    4. A certain proportion of annual income is used for financing select social sectors
    Which of the statements given above is/are correct?

    (a)

    1 only

    (b)

    2 only

    (c)

    3 and 4 only

    (d)

    3 only

    Correct Answer:

    (c)

  • ,

    In the context of bilateral trade negotiations between India and European Union, what is the difference between European commission and European Council?
    1. European Commission represents the EU in trade negotiations whereas European Council participated in the legislation of matters pertaining to economic policies of the European Union
    2. European Commission comprises the heads of State of govt. of member countries whereas the European Council comprises of the persons nominated by European Parliament
    Which of the statements given above is/are correct?

    (a)

    1 only

    (b)

    2 only

    (c)

    Both 1 and 2

    (d)

    Neither 1 nor 2

    Correct Answer:

    (d)