Q1. The minimum age for being eligible to vote in the India Elections was reduced from 21 years to 18 years in the decade of –
(A) 1960’s (B) 1970’s (C) 1980’s (D) 1990’s
- The Indian Constitution adopts universal adult franchise as a basis of elections to the Lok Sabha and the state legislative assemblies. Every citizen who is not less than 18 years of age has a right to vote without any discrimination of caste, race, religion, sex, literacy, wealth, and so on. The voting age was reduced to 18 years from 21 years in 1989 by the 61st Constitutional Amendment Act of 1988. — #Laxmikanth
Q2. The upper House of the State Legislature is called
(A) Lok Sabha (B) Rajya Sabha
(C) Vidhan Sabha (D) Vidhan Parishad
- The state legislature consists of the governor and the legislative assembly. In the states having bicameral system, the state legislature consists of the Governor, the legislative council and the legislative assembly. The legislative council (Vidhan Parishad) is the upper house (second chamber or house of elders), while the legislative assembly (Vidhan Sabha) is the lower house (first chamber or popular house).
- The Constitution provides for the abolition or creation of legislative councils in states. Accordingly, the Parliament can abolish a legislative council (where it already exists) or create it (where it does not exist), if the legislative assembly of the concerned state passes a resolution to that effect. Such a specific resolution must be passed by the state assembly by a special majority, that is, a majority of the total membership of the assembly and a majority of not less than two-thirds of the members of the assembly present and voting. — #Laxmikanth
- The vice-president of India is the ex-officio Chairman of the Rajya Sabha. During any period when the Vice-President acts as President or discharges the funct-ions of the President, he does not perform the duties of the office of the Chairman of Rajya Sabha.
- The Chairman of the Rajya Sabha can be removed from his office only if he is removed from the office of the Vice-President. As a presiding officer, the powers and functions of the Chairman in the Rajya Sabha are similar to those of the Speaker in the Lok Sabha. However, the Speaker has two special powers which are not enjoyed by the Chairman:
1. The Speaker decides whether a bill is a money bill or not and his decision on this question is final.
2. The Speaker presides over a joint sitting of two Houses of Parliament.
- Unlike the Speaker (who is a member of the House), the Chairman is not a member of the House. — #Laxmikanth
Q4. Who was the President of the Constituent Assembly ?
(A) B. R. Ambedkar (B) C. Rajagopalachari
(C) Rajendra Prasad (D) Jawaharlal Nehru
- The Constituent Assembly held its first meeting on December 9, 1946. The Muslim League boycotted the meeting and insisted on a separate state of Pakistan. The meeting was thus attended by only 211 members. Dr Sachchidanand Sinha, the oldest member, was elected as the temporary President of the Assembly, following the French practice.
- Later, on December 11, 1946, Dr Rajendra Prasad and H C Mukherjee were elected as the President and Vice-President of the Assembly respectively. Sir B N Rau was appointed as the Constitutional advisor to the Assembly. — #Laxmikanth
Q5. The local self-government of Kolkata is
(A) The Kolkata Municipal Corporation (KMC)
(B) The Kolkata Corporation (KC)
(C) The Kolkata Metropolitan Development Authority (KMDA)
(D) The Calcutta Improvement Trust (CIT)
- KMC was founded in 1876.
Q6. The leader of the Opposition in the Lok sabha enjoys the rank of a –
(A) Central Minister (B) Governor
(C) High Court Judge (D) Supreme Court Judge
- The leader of the largest Opposition party having not less than one-tenth seats of the total strength of the House is recognised as the leader of the Opposition in that House.
- His main functions are to provide a constructive criticism of the policies of the government and to provide an alternative government. Therefore, the leader of Opposition in the Lok Sabha and the Rajya Sabha were accorded statutory recognition in 1977.
- They are also entitled to the salary, allowances and other facilities equivalent to that of a cabinet minister.
- It was in 1969 that an official leader of the opposition was recognised for the first time.
- The same functionary in USA is known as the ‘minority leader’. — #Laxmikanth
Q7. The term of office of a Rajya Sabha member is
(A) 4 years (B) 5 years (C) 6 years (D) 8 years
Q8. The system of Indian democracy is
(A) By-party and Parliamentary in nature
(B) Multi-party and Parliamentary in nature
(C) Presidential form of Government
(D) None of the above
Q9. A bill of a state legislature becomes an Act when
(A) The Speaker signs it
(B) The Governor of the State signs it
(C) The Chief Minister signs it
(D) The Departmental minister signs it
- When a Bill has been passed by the Legislative Assembly of a State or, in the case of a State having a Legislative Council, has been passed by both Houses of the Legislature of the State, it shall be presented to the Governor, he can:
(a) Give his assent to the bill, or
(b) Withhold his assent to the bill, or
(c) Return the bill (if it is not a money bill) for reconsideration of the state legislature. However, if the bill is passed again by the state legislature with or without amendments, the Governor has to give his assent to the bill, or
(d) Reserve the bill for the consideration of the President. — #Laxmikanth
- — #Link1
- — #Link2
Q10. The first five year plan in India was introduced in the year-
(A) 1947 (B) 1950 (C) 1951 (D) 1955
Q11. Heavy industrialisation was introduced in India in the –
(A) First Five Year Plan (B) Second Five Year Plan
(C) Third Five Year Plan (D) Fourth Five Year Plan
P.C. Mahalanobis was the moving spirit behind the second five year plan. He gave the highest priority to strengthening the industrial base of the economy.
- One of the major steps towards building a solid capital base was the establishment of three steel mills in the public sector with an initial capacity of 10 lakh tonnes each at Durgapur (West Bengal), Rourkela (Orissa), and Bhilai (Madhya Pradesh). — #Link
Q12. In which of the following plans did India experience two successive wars ?
(A) Second Five Year Plan (B) Third Five Year Plan
(C) Fourth Five Year Plan (D) Fifth Five Year Plan
- Third Plan period –> 1961 – 66
- 1962 — war with China
- 1965 — war with Pakistan
Q13. The first plan holiday in independent India covered the period
(A) 1965-67 (B) 1966-68 (C) 1966-69 (D) 1965-68
- After the disastrous experience of the Third Plan (1961-66), a plan holiday was declared for 3 years.
- This Plan faced the famine of 1965-66.
- During this plan period favourable monsoons and technological break-through in wheat popularly known as ‘green revolution’ reduced the inflationary pressure.
- Nationalisation of banks was another major step during this period.
Q14. How many private commercial banks were nationalised in 1969 ?
(A) 12 (B) 13 (C) 14 (D) 15
- The banks that were nationalised included Allahabad Bank, Bank of Baroda, Bank of India, Bank of Maharashtra, Central Bank of India, Canara Bank, Dena Bank, Indian Bank, Indian Overseas Bank, Punjab National Bank, Syndicate Bank, UCO Bank, Union Bank and United Bank of India. Thereafter, in 1980, six more banks that were nationalised included Punjab and Sind Bank, Vijaya Bank, Oriental Bank of India, Corporate Bank, Andhra Bank and New Bank of India. — #Link
Q15. The New Agricultural Strategy was introduced in India in the decade of –
(A) 1950’s (B) 1960’s (C) 1970’s (D) None of the above
- The new agricultural strategy was adopted in India during the Third Plan, i.e., during 1960s.
- Thus, the traditional agricultural practices followed in India are gradually being replaced by modern technology and agricultural practices. This report afford Foundation suggested to introduce intensive effort for raising agricultural production and productivity in selected regions of the country through the introduction of modern inputs like fertilizers, credit, marketing facilities etc. — #Link
Q16. Green Revolution was confined to
(A) Rice in West Bengal (B) Cotton in Maharashtra
(C) Wheat in Punjab and Haryana (D) Oil seeds in Andhra Pradesh
- In regional terms, only the states of Punjab and Haryana showed the best results of the Green Revolution. The eastern plains of the River Ganges in West Bengal also showed reasonably good results. But results were less impressive in other parts of India. — #Link
Q17. An economy may be analytically classified into-
(A) Agriculture, Industry and transport
(B) Agriculture, Manufacturing and Services
(C) Primary, secondary and Tertiary Sectors
(D) Primary, Manufacturing and Transport Sectors
- #Disha Economy Compendium
Q18. Which of the following institutions of India is the chief advisory body on the distribution of tax revenue between the Centre and the States?
(A) The Planning Commission
(B) The Finance Commission
(C) The Lok Sabha
(D) The Rajya Sabha
- The Finance Commission is a constitutional body formed every five years.
- The Finance Commission is a Constitutionally mandated body that is at the centre of fiscal federalism. Set up under Article 280 of the Constitution, its core responsibility is to evaluate the state of finances of the Union and State Governments, recommend the sharing of taxes between them, lay down the principles determining the distribution of these taxes among States.
- The Fifteenth Finance Commission was constituted on 27 November 2017 against the backdrop of the abolition of Planning Commission and the introduction of the goods and services tax (GST), which has fundamentally redefined federal fiscal relations. Shri N.K. Singh is the Chairman of 15th Finance Commission. — #Link
Q19. The credit co-operative institution at the village level is called-
(A) Primary Agricultural Credit Society
(B) Rural Agricultural Credit Society
(C) Agricultural Loan Soiciety
(D) Rural Bank
- The rural co-operative credit system in India is primarily mandated to ensure flow of credit to the agriculture sector. It comprises short-term and long-term co-operative credit structures. The short-term co-operative credit structure operates with a three-tier system – Primary Agricultural Credit Societies (PACS) at the village level, Central Cooperative Banks (CCBs) at the district level and State Cooperative Banks (StCBs) at the State level. PACS are outside the purview of the Banking Regulation Act, 1949 and hence not regulated by the Reserve Bank of India. — #Link
Q20. NABARD is associated with
(A) Industrial development (B) Urban development
(C) Rural development (D) development of railways
- National Bank for Agriculture and Rural Development (NABARD) was approved by the Parliament through Act 61 of 1981.
- NABARD came into existence on 12 July 1982 by transferring the agricultural credit functions of RBI and refinance functions of the then Agricultural Refinance and Development Corporation (ARDC).
- It was dedicated to the service of the nation by the late Prime Minister Smt. Indira Gandhi on 05 November 1982. Set up with an initial capital of Rs.100 crore. — #Link
- NABARD, with its Head office at Mumbai, has 31 Regional Offices (as of May 2021). — #Link
Q21. Industrial credit is available from
(A) IDBI (B) IFCI (C) SFCs (D) All of the above
- IDBI –> Industrial Development Bank of India was established in 1964 by an act to provide credit and other financial facilities for the development of the fledgling Indian industry. >>> HQ — Mumbai.
- IFCI, previously Industrial Finance Corporation of India, is a development finance institution under the jurisdiction of Ministry of Finance. Was established in 1948 in New Delhi as a statutory corporation, IFCI is currently a company listed on BSE and NSE.
- SFC (State Financial Corporation) is a state level Development Financial Institution for promoting Small and Medium Scale industries.
Q22. The Railway Budget of India is
(A) part of the Union Budget
(B) a part of the State Budget
(C) Separate from the Union Budget
(D) None of the above
India was the only country in the world where the Railway Budget was presented separately from the Union Budget. — #Link
The government merged Railway Budget with Union Budget in the year 2017, putting an end to a practice that started in 1924. The step to discard the British-era practice came after a committee comprising Bibek Debroy and Kishore Desai recommended the exercise be scrapped. — #Link
Q23. The monetary policy of India is framed by –
(A) The Government of India (B) The Reserve Bank of India
(C) The State Bank of India (D) None of the above
Fiscal Policy is framed by Ministry of Finance.
Q24. The one rupee currency notes of India are issued by
(A) The Ministry of Finance, Govt. of India (B) The Reserve Bank of India
(C) The State Bank of India (D) None of the above
It bears the signature of Finance Secretary.
Other notes are issued by the RBI and bears signature of RBI Governor.
- The one rupee note however went out of circulation after 1994 and was treated as token currency note. — #Link
Q25. The EXIM Bank of India deals with
(A) The peasants of India
(B) The industrial workers of India
(C) The exports and imports of India
(D) The members of the Indian Parliament
- Exim Bank was established in 1982 by the Government of India, under the Export-Import Bank of India Act, 1981 as a purveyor of export credit, mirroring global Export Credit Agencies.
- HQ — Mumbai.