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1)
In India, which of the following is regulated by the Forward Markets Commission ?
  • Currency Futures Trading
  • Commodities Futures Trading
  • Equity Futures Trading
  • Both Commodities Futures and Financial Futures Trading
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  • Answer
  • b) Commodities Futures Trading
2)
According to the provisions of the Fiscal Responsibility and Budget Management (FRBM) Act, 2003 and FRBM rules, 2004, the government is under obligation to present three statements before the parliament along with the Annual Budget. Which one of the following is not one of them?
  • Macroeconomic Framework Statement
  • Fiscal Policy Strategy Statement
  • Medium-term Fiscal Policy Statement
  • Statement showing Short-term Fiscal Policy
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  • Answer
  • a) Macroeconomic Framework Statement
3)
_______ refers to the use of taxation, public expenditure and the management of public debt in order to achieve certain specified objectives.
  • Fiscal Policy
  • Trade Policy
  • Revenue Policy
  • None of these
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  • Answer
  • c) Revenue Policy
4)
The Kelkar proposals which were in the news recently were the
  • recommendations for reforms in the power sector
  • recommendations for tax reforms
  • guidelines or the privatization of public sector undertakings
  • guidelines for reducing vehicular pollution, and the promotion of CNG use
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  • Answer
  • a) recommendations for reforms in the power sector
5)
The term National Income represents
  • gross national product at market prices minus depreciation.
  • gross national product at market prices minus depreciation plus net factor income from abroad
  • gross national product at market prices minus depreciation and indirect taxes plus subsidies
  • gross national product at market prices minus net factor income from abroad
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  • Answer
  • a) gross national product at market prices minus depreciation.