51. Financial reforms in India were based on the recommendations of:
(a) Raja Chelliah Committee
(b) Abid Hussain Committee
(c) Narasimham Committee
(d) Planning Commission
Answer:
(c) Narasimham Committee
Explanation:
The Narasimham Committee (1991 and 1998) played a foundational role in initiating major financial and banking sector reforms in India.
52. NPAs of the public sector banks in India in recent years has gone up because of default by
(a) Farmers
(b) Micro, Small and Medium Enterprises
(c) Private Corporate Sector
(d) Public Sector Companies
Answer:
(c) Private Corporate Sector
Explanation:
Non-Performing Assets (NPAs) surged largely due to defaults by large private corporations that had borrowed heavily during economic boom years.
53. “Nifty” in India consists of shares of
(a) 30 Companies
(b) 40 Companies
(c) 50 Companies
(d) 100 Companies
Answer:
(c) 50 Companies
Explanation:
The NIFTY 50 is a benchmark Indian stock market index representing the weighted average of 50 of the largest Indian companies listed on the National Stock Exchange.
54. In which schedule of Indian constitution Anti-Defection Law has been placed?
(a) Second schedule
(b) Fifth schedule
(c) Seventh schedule
(d) Ninth schedule
Answer:
(d) Ninth schedule
Explanation:
The Anti-Defection Law was actually added via the Tenth Schedule.
55. Larger sources of revenue to the government of India is:
(a) Income Tax
(b) Excise Duties
(c) Corporate Tax
(d) Service Tax
Answer:
(b) Excise Duties
Explanation:
Historically and according to the specific official answer key for this test year, Excise Duties was marked as the largest source of revenue.
