1⟩ Who propounded the possibility of placing communication satellites in geosynchronous orbit for the first time?
Edwin P Hubble
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22 Government SSC Economy Questions And Answers
2⟩ In which state the Employment Guarantee Scheme was introduced?
Andhra Pradesh on 2nd Feburary, 2005.
3⟩ What is the major aim of devaluation?
the major aim of devaluation to increase the foreigen
exchange basket , in 1991 when our foreigen exchange
reserves dip low the manmohan singh govt resotred to
devaluation of indian rupee in two parts.
4⟩ What is the difference between repo rate and bank or discount rate?
Repo rate is the rate at which banks borrow funds from the
RBI to meet the gap between the demand they are facing for
money (loans) and how much they have on hand to lend.
and
Bank rate, also referred to as the discount rate, is the
rate of interest which a central bank charges on the loans
and advances that it extends to commercial banks and other
financial intermediaries. Changes in the bank rate are
often used by central banks to control the money supply.
5⟩ What is amnesty?
Amnesty is a legislative or executive act by which a state restores those who may have been guilty of an offense against it to the positions of innocent people. It includes more than pardon, in as much as it obliterates all legal remembrance of the offense. The word has the same root as amnesia. Amnesty is more and more used to express 'freedom' and the time when prisoners can go free.
The word Amnesty means grace, pardon, mercy.
6⟩ What are the ifrs?
International Financial Reporting Standards
7⟩ Who prepared the preface of the Ist five year plan in India?
First five year plan was based on the "Herold-Domar Model".
The aim of this plan was to start process of Balanced
Development of economy and Agriculture was on top priority
in this plan.
8⟩ Who is the first President of RBI?
1st governer ---- Sir Smith(1935-37)
1st indian Governer --- CD Deshmukh (1948-49)
9⟩ What is M1, M2,M3
Narrow money (M1) includes currency, i.e. banknotes and
coins, as well as balances which can immediately be
converted into currency or used for cashless payments, i.e.
overnight deposits.
"Intermediate" money (M2) comprises narrow money (M1) and,
in addition, deposits with a maturity of up to two years and
deposits redeemable at a period of notice of up to three
months. Depending on their degree of moneyness, such
deposits can be converted into components of narrow money,
but in some cases there may be restrictions involved, such
as the need for advance notification, delays, penalties or
fees. The definition of M2 reflects the particular interest
in analysing and monitoring a monetary aggregate that, in
addition to currency, consists of deposits which are liquid.
Broad money (M3) comprises M2 and marketable instruments
issued by the MFI sector. Certain money market instruments,
in particular money market fund (MMF) shares/units and
repurchase agreements are included in this aggregate. A high
degree of liquidity and price certainty make these
instruments close substitutes for deposits. As a result of
their inclusion, M3 is less affected by substitution between
various liquid asset categories than narrower definitions of
money, and is therefore more stable.
10⟩ large source of indian revenue1)sales tax2)income tax3)railways
Sales tax
11⟩ Which cricket player is the max tax payer in year 2009-10?
sachin tendulkar
12⟩ Who is responsible to collect the service tax?
Service tax, as is a tax that is levied on a pan India
basis is the responsibility of the Ministry of Finance,
Government of India i.e. The Central Government.
13⟩ With which the basic regulatory authority for mutual funds and stock markets is lies?
SEBI (Securities and Exchange Board of India)
14⟩ Basing on which inflation is checked temporarily?
at present inflation is ascertain by wholesale price
index,but now it is switching to ppi(purchase price
index).if we want to tame inflation then first we have to
acess whether it is demand side or supply side inflation if
it is supply side inflation then a country have to increase
the farm productivity because people are demanding same or
more but output is not available to general people at
present this can be seen in india that govt. is relying more
on monetary tightning but inflation isnot reducing since
demand is appropriate acc. to economic growth but supply is
inadequate.
but if it is a demand side inflation then monetary
tightening will work,since people have more disposable
income and supply is in accordance with economic growth so
reducing money or liquidity in system will lead to
equilibrium position.
15⟩ Who are the main bearers of the burden of indirect tax?
consumers are the main bearers of indirect taxes
16⟩ What are some of the things required for computing Gross National Product (GNP)?
GNP is defined as the total value of all goods and
services produced by firms owned by the country concerned.
It is measured as the gross domestic product plus income
earned by domestic residents from foreign investments,
minus income earned during the same period by foreign
investors in the country's domestic market. GNP does not
allow for inflation or for the overall value of production.
It is an important indicator of an economy's strength
17⟩ What is consumers sovereignty means?
consumer's sovereignity means that customers can buy
according to their own desire. The right price is charged
from them, provided with right quality & in right quantity.
18⟩ To which secular stagnation refers?
Recurring booms and depressions in the economy.
19⟩ What is the difference between the real investment and financial investment?
any invesment in fixed or current assets is called real
invesment and any invesment in share or debenture is called
financial investment
20⟩ Why the global financial crisis did not affect strongly on the underdeveloped countries?
1. Thr limited exposture to derivative products.
2. The crisis mainly strtd in US, all the nations do hav
trade relations with US but in case of nations with
comparatively less imports/exports suffrd lesser.
3. Dollar value affects whole of the wrld.. bt again lesser
dealings means lesser impact.
4. underdeveloped nations who had no outsourcing
relationship with us also suffred less(unlike india.. which
is a developing country and gets a lot of outsourcing
busness frm the west)
