History of India
1. There are only two known examples of cave paintings of the Gupta period in ancient India. One of these is paintings of Ajanta caves. Where is the other surviving example of Gupta paintings ?
(a) Bagh caves
(b) Ellora caves
(c) Lomas Rishi cave
(d) Nasik caves
Answer: (a)
Explanation: Ajanta Caves are located just outside the village of Ajinṭhā in Aurangabad district of Maharashtra. There are 28-30 rock-cut cave monuments created during the first century BCE and 5th century AD, containing paintings and sculptures considered to be masterpieces of both Buddhist religious art and universal pictorial art. Since 1983, the Ajanta Caves have been a UNESCO World Heritage Site.
The Bagh Caves are a group of nine rock-cut monuments, situated among the southern slopes of the Vindhyas in Kukshi tehsil of Dhar district in Madhya Pradesh. These are renowned for mural paintings by master painters of ancient India. The Bagh Caves, like those at Ajanta, were excavated by master craftmen on perpendicular sandstone rock face of a hill on the far bank of a seasonal stream, the Baghani. Buddhist in inspiration, of the nine caves, only five have survived. All of them are 'viharas' or monasteries having quadrangular plan. A copperplate inscription of Maharaja Subandhu, recording his donation for the repair of the vihara was found at the site of Cave 2. Though, the date of the Bagh inscription is missing, his Badwani copperplate inscription is dated in the year (Gupta era) 167 (487). So the repair of Cave 2 took place in the late 5th century.
The Lomash Rishi cave in the Barabar Caves belongs to Mauryan period. The Barabar Caves are the oldest surviving rock-cut caves in India, mostly dating from the Mauryan period (322–185 BCE), and some with Ashokan inscriptions, located in the Jehanabad District of Bihar.
The Nasik Caves belong to Satvahana period. The Nasik cave inscription of Gautami Balashri claims that her son Gautamiputra Satakarni's dominion included Anupa.
Source: Multiple sources. |
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2. 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
Answer: (a)
Explanation: Buddha became the ninth incarnation of the Dashavatar Vishnu and thus became part of the Vaishnavism. This led to decline in the spread of Buddhism.
The invading tribes from Central Asia had adopted Buddhism.
Though Samudraagupta was a firm believer in Hinduism and is known to have worshipped Lord Vishnu. He was considerate of other religions and allowed Sri Lanka's Buddhist king Sirimeghvanna to build a monastery at Bodh Gaya. That monastery was called by Xuanzang as the Mahabodhi Sangharama. He provided a gold railing around the Bodhi Tree.
Source: Multiple sources. |
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3. Among the following, who was not a proponent of bhakti cult ?
(a) Nagarjuna
(b) Tukaram
(c) Tyagaraja
(d) Vallabhacharya
Answer: (a)
Explanation: Acharya Nāgārjuna (c. 150 - 250 CE) was a philosopher who founded the Madhyamaka school of Mahāyāna Buddhism. His writings are the basis for the formation of the Madhyamaka school, which was transmitted to China under the name of the Three Treatise (Sanlun) School. He is credited with developing the philosophy of the Prajnaparamita sutras, and was closely associated with the Buddhist university of Nalanda. In the Jodo Shinshu branch of Buddhism, he is considered the First Patriarch. He was born in Southern India, near the town of Nagarjunakonda in present day Nagarjuna Sagar in the Guntur district of Andhra Pradesh. According to traditional biographers and historians such as Kumarajiva, he was born into a Brahmin family, but later converted to Buddhism. Nagarjuna's wrote Mūlamadhyamakakārikā (Fundamental Verses on the Middle Way).
Tukaram (1608 – c. 1650) was a prominent Marathi Bhakti saint. He was born and lived most of his life in Dehu, a town close to Pune city in Mahārāshtra, India. He was born to a couple with the family name "Moray". Tukaram was a devotee of Lord Vittala or Vithobā -- an incarnation of Lord Krishna. Tukaram is considered as the climactic point of the Bhāgawat Hindu tradition, which is thought to have begun in Maharashtra with Nāmdev. Dnyāneshwar, Nāmdev, Janābai, Eknāth, and Tukaram are revered especially in the wārakari sect in Maharashtra. Tukaram wrote in archaic Marathi a large number of devotional poems identified in Marathi as abhang. A collection of 4,500 abhang known as the Gāthā is attributed to Tukaram. Saint Tukaram's composition ( poetries ) are found in Guru Granth Sahib.
Tyagaraja was born in 1767 in Tiruvarur, a small town in the Thanjavur district of Tamil Nadu. He was one of the greatest composers of Carnatic music or classical South Indian music. In addition to nearly 600 compositions (kritis), Tyagaraja composed two musical plays in Telugu, the Prahalada Bhakti Vijayam and the Nauka Charitam.
Source: Multiple sources. |
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4. 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 Jullundhar 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 all the fertile plains of Punjab up to the borders of Delhi to his kingdom
Answer: (a)
Explanation: The Third Battle of Panipat took place on 14 January 1761, at Panipat, Haryana. The battle was fought between the Marathas and the Afghans led by Ahmad Shah Durrani, an ethnic Pashtun, also known as Ahmad Shah Abdali. The battle is considered one of the largest battles fought in the 18th century. In 1758, they occupied Delhi, captured Lahore and drove out Timur Shah Durrani, the son and viceroy of the Afghan ruler, Ahmad Shah Abdali. his provoked Ahmad Shah Abdali and he marched towards Delhi.
Source: http://en.wikipedia.org/wiki/Third_Battle_of_Panipat |
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Indian National Movement
5. 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
Answer: (a)
Explanation: Joseph François Dupleix became the Governor of the French Territory in India on 15 January 1742 and brought Madras also under French control in September 1746; Madras continued under French rule for 30 years. An attack on Pondicherry by the British in 1748 failed. Dupleix's help to Chanda Sahib and Musafer Jung in 1750 added Villianur and Bahour, a group of 36 villages, to French control. This was the peak period of the French regime; thereafter there was a decline in their sovereignty.
Internal disturbances in Pondicherry gave the British the opportunity, in August 1793, to gain control of Pondicherry; it was administered as part of Madras till 1815. However, after the Treaty of Paris in 1814, the British restored the settlements, which the French had possessed on 1 January 1792, back to the French in 1816. French rule continued till 31 October 1954.
Source: http://en.wikipedia.org/wiki/Pondicherry |
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6. By a regulation in 1793, the District Collector was deprived of his judicial powers and made the collecting agent only. What was the reason for such regulation ?
(a) Lord Cornwallis felt that the District Collector's efficiency of revenue collection would enormously increase without the burden of other work
(b) Lord Cornwallis felt that Judicial power should compulsorily be in the hands of Europeans while Indians can be given the job of revenue collection in the districts
(c) Lord Cornwallis was alarmed at the extent of power concentrated in the District Collector and felt that such absolute power was undesirable in one person
(d) The judicial work demanded a deep knowledge of India and a good training in law and Lord Cornwallis felt that District Collector should be only a revenue collector
Answer: (c)
Explanation: The office of collector had undergone considerable structural and functional changes during the period of British rule. Besides revenue collection, the district collector exercised civil, judicial and military powers in districts until 1792, when the judicial and magisterial powers were separated from him and transferred to the district judge.
Source: The Cambridge History of the British Empire, Volume 2 edited by John Holland Rose, Arthur Percival Newton, Ernest Alfred Benians (pages 444-445) |
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7. Who among the following Governor Generals created the Covenanted Civil Service of India which later came to be known as the Indian Civil Service ?
(a) Warren Hastings
(b) Wellesley
(c) Cornwallis
(d) William Bentinck
Answer: (c)
Explanation: The Pitt's India Act of 1784 with regard to civil service laid down that the vacancies in the Governor General's Council were to be filled by the covenanted civil servants. The Crown was given the power of removing or recalling any servant of the company. The Act for the first time laid down age limits for new entrants in the service of the company. It fixed the minimum age for appointment to the post of writer at fifteen years and maximum at eighteen years. It can be said that the Charter Act of 1793 made a significant contribution to the development of civil services in India. It laid down that any vacancy accounting in any of the civil offices in India "shall be filled from amongst the civil servants of the company belonging to the Presidency in which such vacancies occurred". The Act excluded outsiders from entering the service even though they enjoyed patronage in England. The Act tried to improve the morale of the civil service by making it a closed and exclusive service. The maximum age limit for appointment to the post of writer was raised to 22 years. In 1800, Governor General Wellesley, established the college at Fort Williams with the objective of training civil servants. But this was not favoured by the Court of Directors. Finally, in 1806, the Court of Directors decided to set up a training institution at Haileybury in England which was accorded a statutory status by the Charter Act of 1813.
It was under Viceroy Lord Dufferin (13 Dec 1884 -- 10 Dec 1888) that based on Report of Public Services Commission of 1886-87, Imperial Civil Service was created (later Indian Civil Service, and today Indian Administrative Service).
Source: IGNOU Book: Development of Public Service in India |
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8. What was the immediate cause for the launch of the Swadeshi movement ?
(a) The partition of Bengal done by Lord Curzon
(b) A sentence of 18 months rigorous imprisonment imposed on Lokmanya Tilak
(c) The arrest and deportation of Lala Lajpat Rai and Ajit Singh; and passing of the Punjab Colonization Bill
(d) Death sentence pronounced on the Chapekar brothers
Answer: (a)
Explanation: Swadeshi Movement emanated from the partition of Bengal, 1905 and continued up to 1908. It was the most successful of the pre-Gandhian movements. Chief architects were Aurobindo Ghosh, Veer Savarkar, Lokmanya Bal Gangadhar Tilak, and Lala Lajpat Rai.
Source: Indian History by V.K. Agnihotri |
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9. Four resolutions were passed at the famous Calcutta session of Indian National Congress in 1906. The question of either retention OR of rejection of these four resolutions became the cause of a split in Congress at the next Congress session held in Surat in 1907. Which one of the following was not one of those resolutions ?
(a) Annulment of partition of Bengal
(b) Boycott
(c) National education
(d) Swadeshi
Answer: (?)
Explanation: 22nd Session of INC held at Calcutta, 1906: Landmark session in the Congress’ history. 1905 had been a year of tremendous political activity and popular demonstrations the kind India had never seen before. Preceding the session, the rift between the Moderates and Extremists was threatening the very existence of the Congress. Dadabhai Naoroji was the only revered, universally acceptable figure who could preside over the session and prevent a split. In his presidential address he hit out at the British Government, ‘We do not ask for favours, we want only justice. We want self-government or Swaraj like that of U.K. or Dominions.’ A huge pavilion with a capacity of 20,000 was erected. The session began with the singing of Vande Mataram. The resolutions adopted demanded reversal of Partition of Bengal; upheld the Boycott movement in Bengal; supported the Swadeshi movement; protested the existing Education Policy of the Government; exhorting the people to take up national education and demanded Self-Government.
Source: http://www.congresssandesh.com/february-2002/28.html |
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10. Consider the following statements :
1. Dr. Rajendra Prasad persuaded Mahatma Gandhi to come- to Champaran to investigate the problem of peasants.
2. Acharya J. B. Kriplani was one of Mahatma Gandhi's colleagues in his Champaran investigation.
Which of the statements given above is/are correct ?
(a) 1 only
(b) 2 only
(c) Both Land 2
(d) Neither 1 nor 2
Answer: (b)
Explanation: Bhumihar Brahmins in Champaran had earlier revolted against the conditions of indigo cultivation in 1914 (at Pipra) and 1916 (Turkaulia). Then Pandit Raj Kumar Shukla persuaded Mahatma Gandhi to visit Champaran and the "Champaran Satyagraha" began. Gandhi's historic visit to Champaran was opposed by the British rulers. An order asking him to leave Champaran was served upon him as soon as he arrived at Motihari. Gandhi defied the order. Of the several prominent persons who rallied round him, mention may be made of Dr. Rajendra Prasad, Acharya Kriplani, Mahadeo Desai, C. F. Andrews, H. S. Pollock, Dr. Anugrah Narayan Singh, Raj Kishore Prasad, Ram Nawami Prasad and Dharnidhar Prasad. After considerable struggle the Government was compelled to lift the ban on Gandhi's stay here. For the first time on Indian soil Satyagraha (Non-Violence) was successfully put to the test.
Source: http://en.wikipedia.org/wiki/Champaran |
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11. With reference to Simon Commission's recommendations, which one of the following statements is correct ?
(a) It recommended the replacement of diarchy with responsible government in the provinces
(b) It proposed the setting up of inter-provincial council under the Home Department
(c) It suggested the abolition of bicameral legislature at the Centre
(d) It recommended the creation of Indian Police Service with a provision for increased pay and allowances for British recruits as compared to Indian recruits
Answer: (a)
Explanation: The Indian Statutory Commission was a group of seven British Members of Parliament that had been dispatched to India in 1927. It was commonly referred to as the Simon Commission after its chairman, Sir John Simon. One of its members was Clement Attlee, who subsequently became the British Prime Minister who would oversee the granting of independence to India and Pakistan in 1947. The Commission published its 17-volume report in 1930. It proposed the abolition of dyarchy and the establishment of representative government in the provinces. It also recommended that separate communal electorates be retained, but only until tensions between Hindus and Muslims had died down. Noting that educated Indians opposed the Commission and also that communal tensions had increased instead of decreased, the British government opted for another method of dealing with the constitutional issues of India. Before the publication of the report, the British government stated that Indian opinion would henceforth be taken into account, and that the natural outcome of the constitutional process would be dominion status for India.
Source: Indian History by V.K. Agnihotri |
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12. For the Karachi session of Indian National Congress in 1931 presided over by Sardar Patel, who drafted the Resolution on Fundamental Rights and Economic Programme ?
(a) Mahatma Gandhi
(b) Pandit Jawaharlal Nehru
(c) Dr. Rajendra Prasad
(d) Dr. B. R. Ambedkar
Answer: (b)
Explanation: Two years after the Bombay resolution of May 1929, a resolution on Fundamental Rights and Economic Programme was adopted by the Karachi session of the Congress. Nehru recalls in the 'Autobiography': "During my early morning talks in Delhi with Gandhiji in February and March 1931, I had referred to this matter, and he had welcomed the idea of having a resolution on economic matters. He asked me to bring the matter up at Karachi, and to draft a resolution and show it to him there. I did so at Karachi, and he made various changes and suggestions..."
Source: The making of modern India: Rammohun Roy to Gandhi and Nehru By G. N. S. Raghavan (pages 106-107) |
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13. Consider the following statements :
1. The "Bombay Manifesto" signed in 1936 openly opposed the preaching of socialist ideals.
2. It evoked support from a large section of business community from all across India.
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
Answer: (c)
Explanation: The Bombay Manifesto signed in 1936 by 21 Bombay businessmen, contained an open indictment of Nehru's preaching of socialist ideas.
Source: Indian History by V.K. Agnihotri
From Plassey to partition: a history of modern India By Śekhara Bandyopādhyāẏa (page 367) |
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14. After Quit India Movement, C. Rajagopalachari issued a pamphlet entitled “The Way Out”. Which one of the following was a proposal in this pamphlet ?
(a) The establishment of a "War Advisory Council" composed of representatives of British India and the Indian States
(b) Reconstitution of the Central Executive Council in such a way that all its members, except the Governor General and the Commander-in-Chief should be Indian leaders
(c) Fresh elections to the Central and Provincial Legislatures to be held at the end of 1945 and the Constitution making body to be convened as soon as possible
(d) A solution for the constitutional deadlock
Answer: (d)
Explanation: The Way Out: A Plea for Constructive Thought on the Present Political Situation in India.
Source: The Internet |
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15. Who among the following were official Congress negotiators with Cripps Mission ?
(a) Mahatma Gandhi and Sardar Patel
(b) Acharya J. B. Kripalani and C. Rajagopalachari
(c) Pandit Nehru and Maulana Azad
(d) Dr. Rajendra Prasad and Rafi Ahmed Kidwai
Answer: (c)
Explanation: Pandit Nehru and Maulana Azad were official Congress negotiators with Cripps Mission. The Cripps mission was an attempt in late March 1942 by the British government to secure Indian cooperation and support for their efforts in World War II.
Source: Indian History by V.K. Agnihotri |
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Indian Polity
16. Consider the following statements :
The Supreme Court of India tenders advice to the President of India on matters of law or fact
1. on its own initiative (on any matter of larger public interest).
2. if he seeks such an advice.
3. only if the matters relate to the Fundamental Rights of the citizens.
Which of the statements given above is/are correct ?
(a) 1 only
(b) 2 only
(c) 3
(d) 1 and 2
Answer: (d)
Explanation: The Supreme Court has special advisory jurisdiction in matters which may specifically be referred to it by the President of India under Article 143 of the Constitution.
Article 143: Power of President to consult Supreme Court:
(1) If at any time it appears to the President that a question of law or fact has arisen, or is likely to arise, which is of such a nature and of such public importance that it is expedient to obtain the opinion of the Supreme Court upon it, he may refer the question to that Court for consideration and the Court may, after such hearing as it thinks fit, report to the President its opinion thereon.
(2) The President may, notwithstanding anything in the proviso to article 131, refer a dispute of the kind mentioned in the said proviso to the Supreme Court for opinion and the Supreme Court shall, after such hearing as it thinks fit, report to the President its opinion thereon.
Source: Introduction to Indian Constitution by D.D. Basu |
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17. With reference to the Constitution of India, consider the following:
1. Fundamental Rights
2. Fundamental Duties
3. Directive Principles of State Policy
Which of the above provisions of the Constitution of India is/are fulfilled by the National Social Assistance Programme launched by the Government of India ?
(a) 1 only
(b) 3 only
(c) 1 and 3 only
(d) 1, 2 and 3
Answer: (b)
Explanation: The National Social Assistance Programme (NSAP) which came into effect from 15th August, 1995, is a 100 % Centrally Sponsored Programme. It has three components namely, National Old Age Pension Scheme (NOAPS), National Family Benefit Scheme (NFBS) and National Maternity Benefit Scheme (NMBS). The NMBS has since been transferred to the Ministry of Health & Family Welfare w.e.f. 1-4-2001. The NSAP aims at providing social security in case of old age, death of primary breadwinner and maternity.
Source: http://rural.nic.in/book01-02/ch-7.pdf |
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18. 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 Committees
(b) State Finance Commission
(c) Finance Ministry of that State
(d) Panchayati Raj Ministry of that State
Answer: (b)
Explanation: Article 243-I of the Constitution: Constitution of Finance Commission to review financial position:
(1) The Governor of a State shall, as soon as may be within one year from the commencement of the Constitution (Seventy-third Amendment) Act, 1992, and thereafter at the expiration of every fifth year, constitute a Finance Commission to review the financial position of the Panchayats and to make recommendations to the Governor as to-
(a) the principles which should govern-
(i) the distribution between the State and the Panchayats of the net proceeds of the taxes, duties, tolls and fees leviable by the State, which may be divided between them under this Part and the allocation between the Panchayats at all levels of their respective shares of such proceeds;
(ii) the determination of the taxes, duties, tolls and fees which may be assigned to, or appropriated by, the Panchayat;
(iii) the grants-in-aid to the Panchayats from the Consolidated Fund of the State;
(b) the measures needed to improve the financial position of the Panchayats;
(c) any other matter referred to the Finance Commission by the Governor in the interests of sound finance of the Panchayats.
(2) The Legislature of a State may, by law, provide for the composition of the commission, the qualifications which shall be requisite for appointment as members thereof and the manner in which they shall be selected.
(3) The Commission shall determine their procedure and shall have such powers in the performance of their functions as the Legislature of the State may, by law, confer on them.
(4) The Governor shall cause every recommendation made by the Commission under this article together with an explanatory memorandum as to the action taken thereon to be laid before the Legislature of the State.
Source: Our Constitution by Subhash C Kashyap |
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19. Who of the following shall cause every recommendation made by the Finance Commission to be laid before each House of Parliament ?
(a) The President of India
(b) The Speaker of Lok Sabha
(c) The Prime Minister of India
(d) The Union Finance Minister
Answer: (a)
Explanation: Article 280. Finance Commission.-
(1) The President shall, within two years from the commencement of this Constitution and thereafter at the expiration of every fifth year or at such earlier time as the President considers necessary, by order constitute a Finance Commission which shall consist of a Chairman and four other members to be appointed by the President.
(2) Parliament may by law determine the qualifications which shall be requisite for appointment as members of the Commission and the manner in which they shall be selected.
(3) It shall be the duty of the Commission to make recommendations to the President as to-
(a) the distribution between the Union and the States of the net proceeds of taxes which are to be, or may be, divided between them under this Chapter and the allocation between the States of the respective shares of such proceeds;
(b) the principles which should govern the grants-in-aid of the revenues of the States out of the Consolidated Fund of India;
[(bb) the measures needed to augment the Consolidated Fund of a State to supplement the resources of the Panchayats in the State on the basis of the recommendations made by the Finance Commission of the State;]
[(c) the measures needed to augment the Consolidated Fund of a State to supplement the resources of the Municipalities in the State on the basis of the recommendations made by the Finance Commission of the State;]
[(d)] any other matter referred to the Commission by the President in the interests of sound finance.
(4) The Commission shall determine their procedure and shall have such powers in the performance of their functions as Parliament may by law confer on them.
Source: Our Constitution by Subhash C Kashyap |
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20. Which one of the following is responsible for the preparation and presentation of Union Budget to the Parliament ?
(a) Department of Revenue
(b) Department of Economic Affairs
(c) Department of Financial Services
(d) Department of Expenditure
Answer: (b)
Explanation: The Budget is prepared at the behest of the Union Government by the Ministry of Finance which is responsible for arranging the fiscal affairs of the Union Government in the country. This Ministry of Finance is divided into five departments (i) Department of Economic Affairs, (ii) Department of Expenditure, (iii) Department of Revenue, (iv) Department of Disinvestment, and (v) Department Financial Services. Each of these departments are further classified into divisions and it is the 'Budget Division' under the Department of Economic Affairs, which is responsible for the preparation of the Union Budget.
Source: http://legalperspectives.blogspot.com/2008/02/unraveling-indian-budget-making-process.html |
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21. The "Instrument of Instructions" contained in the Government of India Act 1935 have been incorporated in the Constitution of India in the year 1950 as
(a) Fundamental Rights
(b) Directive Principles of State Policy
(c) Extent of executive power of State
(d) Conduct of business of the Government of India
Answer: (b)
Explanation: See the source
Source: http://parliamentofindia.nic.in/ls/debates/v10p10m.htm |
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22. With reference to Lok Adalats, which of the following statements is correct ?
(a) Lok Adalats have the jurisdiction to settle the matters at pre-litigative stage and not those matters pending before any court
(b) Lok Adalats can deal with matters which are civil and not criminal in nature
(c) Every Lok Adalat consists of either serving or retired judicial officers only and not any other person
(d) None of the statements given above is correct
Answer: (d)
Explanation: Lok Adalat is a system of alternative dispute resolution developed in India. It roughly means "People's court".
Cases that are pending in regular courts can be transferred to a Lok Adalat if both the parties agree. A case can also be transferred to a Lok Adalat if one party applies to the court and the court sees some chance of settlement after giving an opportunity of being heard to the other party.
These are usually presided by retired judge, social activists, or members of legal profession. It does not have jurisdiction on matters related to non-compoundable offences.
The First Lok Adalat was held in Chennai in 1986.
Source: http://en.wikipedia.org/wiki/Lok_Adalat |
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23. With reference to the Consumer Disputes Redressal at district level in India, which one of the following statements is not correct ?
(a) A State Government can establish more than one District Forum in a district if it deems fit
(b) One of the members of the District Forum shall be a woman
(c) The District Forum entertains the complaints where the value of goods or services does not exceed rupees fifty lakhs
(d) A complaint in relation to any goods sold or any service provided may be filed with a District Forum by the State Government as a representative of the interests of the consumers in general
Answer: (c)
Explanation: The Consumer Protection Act, 1986 mandates establishment of Consumer Protection Councils at the Centre as well as in each State and District, with a view to promoting consumer awareness. Each District Forum is headed by a person who is or has been or is eligible to be appointed as a District Judge. A written complaint, can be filed before the District Consumer Forum for pecuniary value of upto Rupees twenty lakh, State Commission for value upto Rupees one crore and the National Commission for value above Rupees one crore, in respect of defects in goods and or deficiency in service. The service can be of any description and the illustrations given above are only indicative. However, no complaint can be filed for alleged deficiency in any service that is rendered free of charge or under a contract of personal service.
At present, there are 604 District Forums and 34 State Commissions with the National Consumer Disputes Redressal Commission (NCDRC) at the apex. NCDRC has its office at Janpath Bhawan, A Wing, 5th Floor, Janpath, New Delhi.
Source: http://ncdrc.nic.in/ |
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Indian Economy: General
24. Which of the following is/are treated as artificial currency ?
(a) ADR
(b) GDR
(c) SDR
(d) Both ADR and SDR
Answer: (c)
Explanation: Artificial currency is the currency substitute, such as Special Drawing Rights (Sdrs) and European Currency Units (Ecus).
An American Depositary Receipt (abbreviated ADR) represents ownership in the shares of a non-U.S. company that trades in U.S. financial markets. The stock of many non-US companies trade on US stock exchanges through the use of ADRs. ADRs enable U.S. investors to buy shares in foreign companies without the hazards or inconveniences of cross-border & cross-currency transactions. ADRs carry prices in US dollars, pay dividends in US dollars, and can be traded like the shares of US-based companies.
Each ADR is issued by a U.S. depositary bank and can represent a fraction of a share, a single share, or multiple shares of the foreign stock.
A Special Drawing Right (SDR) is the monetary unit of the reserve assets of the International Monetary Fund (IMF). The unit was created in 1969 in support of the Bretton Woods system of fixed exchange rates to alleviate the shortage of U.S. dollar and gold reserves in the expansion of international trade. The SDR unit is defined as a weighted sum of contributions of four major currencies, reevaluated and adjusted every five years, and computed daily in terms of equivalent United States dollars. Special Drawing Rights are not a currency, but they represent potential claims on the currencies of the IMF members. SDRs obtain their reserve asset power from the commitments of the IMF member states to hold and honor them for payment of balances. The IMF uses SDRs for its monetary unit of account. SDRs are denoted with the ISO 4217 currency code XDR.
A Global Depository Receipt or Global Depositary Receipt (GDR) is a certificate issued by a depository bank, which purchases shares of foreign companies and deposits it on the account. GDRs represent ownership of an underlying number of shares.
Global Depository Receipts facilitate trade of shares, and are commonly used to invest in companies from developing or emerging markets.
Source: http://en.wikipedia.org/wiki/American_Depositary_Receipt
http://en.wikipedia.org/wiki/Special_Drawing_Rights
http://en.wikipedia.org/wiki/Global_Depository_Receipt |
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25. Which of the following terms indicates a mechanism used by commercial banks for providing credit to the government ?
(a) Cash Credit Ratio
(b) Debt Service Obligation
(c) Liquidity Adjustment Facility
(d) Statutory Liquidity Ratio
Answer: (b)
Explanation: Statutory Liquidity Ratio is the amount of liquid assets, such as cash, precious metals or other short-term securities, that a financial institution must maintain in its reserves.
The objectives of SLR are:
- To restrict the expansion of bank credit.
- To augment the investment of the banks in Government securities.
- To ensure solvency of banks. A reduction of SLR rates looks eminent to support the credit growth in India.
The SLR is commonly used to contain inflation and fuel growth, by increasing or decreasing it respectively. This counter acts by decreasing or increasing the money supply in the system respectively. Indian banks’ holdings of government securities (Government securities) are now close to the statutory minimum that banks are required to hold to comply with existing regulation. When measured in rupees, such holdings decreased for the first time in a little less than 40 years (since the nationalisation of banks in 1969) in 2005-06.
Source: Indian Economy: S.K. Mishra and V.K. Puri |
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