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UPSC Economics PYQs 2017 | Vaidra | Vaidra
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Economics UPSC PYQ 2017

24 questions from the UPSC 2017 examination.

24 questions

1Easyprelims2 marks
Infrastructure & Industry

The term ‘Domestic Content Requirement’ is sometimes seen in the news with reference to

ADeveloping solar power production in our country
BGranting licences to foreign T.V. channels in our country
CExporting our food products to other countries
DPermitting foreign educational institutions to set up their campuses in our country
2Easyprelims2 marks
Banking & Financial Sector

Which of the following statements best describes the term ‘Scheme for Sustainable Structuring of Stressed Assets (S4A)’, recently seen in the news?

AIt is a procedure for considering ecological costs of developmental schemes formulated by the Government.
BIt is a scheme of RBI for reworking the financial structure of big corporate entities facing genuine difficulties.
CIt is a disinvestment plan of the Government regarding Central Public Sector Undertakings.
DIt is an important provision in ‘The Insolvency and Bankruptcy Code’ recently implemented by the Government.
3Mediumprelims2 marks
Fiscal Policy & Budget

Consider the following statements: 1. Tax revenue as a percent of GDP of India has steadily increased in the last decade. 2. Fiscal deficit as a percent of GDP of India has steadily increased in the last decade. Which of the statements given above is/are correct?

A1 only
B2 only
CBoth 1 and 2
DNeither 1 nor 2
4Mediumprelims2 marks
Infrastructure & Industry

With reference to 'National Investment and Infrastructure Fund', which of the following statements is/are correct? 1. It is an organ of NITI Aayog. 2. It has a corpus of ₹ 4,00,000 crore at present. Select the correct answer using the code given below:

A1 only
B2 only
CBoth 1 and 2
DNeither 1 nor 2
5Mediumprelims2 marks
Economic Planning & Five-Year Plans

Which of the following has/have occurred in India after its liberalization of economic policies in 1991? 1. Share of agriculture in GDP increased enormously. 2. Share of India’s exports in world trade increased. 3. FDI inflows increased. 4. India’s foreign exchange reserves increased enormously. Select the correct answer using the codes given below:

A1 and 4 only
B2, 3 and 4 only
C2 and 3 only
D1, 2, 3 and 4
6Mediumprelims2 marks
Monetary Policy & Money Supply

With reference to the Constitution of India, the Directive Principles of State Policy constitute limitations upon 1. legislative function. 2. executive function. Which of the above statements is/are correct?

A1 only
B2 only
CBoth 1 and 2
DNeither 1 nor 2
7Mediumprelims2 marks
Human Development, Poverty & Employment Schemes

'Recognition of Prior Learning Scheme' is sometimes mentioned in the news with reference to

ACertifying the skills acquired by construction workers through traditional channels.
BEnrolling the persons in Universities for distance learning programmes.
CReserving some skilled jobs to rural and urban poor in some public sector undertakings.
DCertifying the skills acquired by trainees under the National Skill Development Programme.
8Mediumprelims2 marks
Human Development, Poverty & Employment Schemes

Of the following, which gives 'Global Gender Gap Index' ranking to the countries of the world?

AWorld Economic Forum
BUN Human Rights Council
CUN Women
DWorld Health Organization
9Mediumprelims2 marks
International Trade & WTO

With reference to the 'National Intellectual Property Rights Policy', consider the following statements: 1. It reiterates India's commitment to the Doha Development Agenda and the TRIPS Agreement. 2. Department of Industrial Policy and Promotion is the nodal agency for regulating intellectual property rights in India. Which of the above statements is/are correct?

A1 only
B2 only
CBoth 1 and 2
DNeither 1 nor 2
10Mediumprelims2 marks
Digital Payments & Financial Inclusion

What is the purpose of setting up of Small Finance Banks (SFBs) in India? 1. To supply credit to small business units 2. To supply credit to small and marginal farmers 3. To encourage young entrepreneurs to set up business particularly in rural areas. Select the correct answer using the code given below:

A1 and 2 only
B2 and 3 only
C1 and 3 only
D1, 2 and 3
11Mediumprelims2 marks
International Institutions & Reports

With reference to ‘Asia Pacific Ministerial Conference on Housing and Urban Development (APMCHUD)’, consider the following statements: 1. The first APMCHUD was held in India in 2006 on the theme ‘Emerging Urban Forms — Policy Responses and Governance Structure’. 2. India hosts all the Annual Ministerial Conferences in partnership with ADB, APEC and ASEAN. Which of the statements given above is/are correct?

A1 only
B2 only
CBoth 1 and 2
DNeither 1 nor 2
12Easyprelims2 marks
International Institutions & Reports

The Global Infrastructure Facility is a/an

AASEAN initiative to upgrade infrastructure in Asia and financed by credit from the Asian Development Bank.
BWorld Bank collaboration that facilitates the preparation and structuring of complex infrastructure Public-Private Partnerships (PPPs) to enable mobilization of private sector and institutional investor capital.
CCollaboration among the major banks of the world working with the OECD and focused on expanding the set of infrastructure projects that have the potential to mobilize private investment.
DUNCTAD funded initiative that seeks to finance and facilitate infrastructure development in the world.
13Mediumprelims2 marks
Digital Payments & Financial Inclusion

Which of the following is a most likely consequence of implementing the ‘Unified Payments Interface (UPI)’?

AMobile wallets will not be necessary for online payments.
BDigital currency will totally replace the physical currency in about two decades.
CFDI inflows will drastically increase.
DDirect transfer of subsidies to poor people will become very effective.
14Mediumprelims2 marks
Agriculture & Rural Development

Consider the following statements: 1. The Standard Mark of Bureau of Indian Standards (BIS) is mandatory for automotive tyres and tubes. 2. AGMARK is a quality Certification Mark issued by the Food and Agriculture Organisation (FAO). Which of the statements given above is/are correct?

A1 only
B2 only
CBoth 1 and 2
DNeither 1 nor 2
15Mediumprelims2 marks
International Institutions & Reports

With reference to ‘Quality Council of India (QCI)’, consider the following statements: 1. QCI was set up jointly by the Government of India and the Indian Industry. 2. Chairman of QCI is appointed by the Prime Minister on the recommendations of the industry to the Government. Which of the above statements is/are correct?

A1 only
B2 only
CBoth 1 and 2
DNeither 1 nor 2
16Easyprelims2 marks
Human Development, Poverty & Employment Schemes

The Trade Disputes Act of 1929 provided for

Athe participation of workers in the management of industries.
Barbitrary powers to the management to quell industrial disputes.
Can intervention by the British Court in the event of a trade dispute.
Da system of tribunals and a ban on strikes.
17Mediumprelims2 marks
Fiscal Policy & Budget

With reference to the ‘Prohibition of Benami Property Transactions Act, 1988 (PBPT Act)’, consider the following statements : 1. A property transaction is not treated as a benami transaction if the owner of the property is not aware of the transaction. 2. Properties held benami are liable for confiscation by the Government. 3. The Act provides for three authorities for investigations but does not provide for any appellate mechanism. Which of the statements given above is/are correct ?

A1 only
B2 only
C1 and 3 only
D2 and 3 only
18Mediumprelims2 marks
Human Development, Poverty & Employment Schemes

Consider the following in respect of ‘National Career Service’: 1. National Career Service is an initiative of the Department of Personnel and Training, Government of India. 2. National Career Service has been launched in a Mission Mode to improve the employment opportunities to uneducated youth of the country. Which of the above statements is/are correct?

A1 only
B2 only
CBoth 1 and 2
DNeither 1 nor 2
19Mediumprelims2 marks
Taxation

What is/are the most likely advantages of implementing 'Goods and Services Tax (GST)'? 1. It will replace multiple taxes collected by multiple authorities and will thus create a single market in India. 2. It will drastically reduce the 'Current Account Deficit' of India and will enable it to increase its foreign exchange reserves. 3. It will enormously increase the growth and size of economy of India and will enable it to overtake China in the near future.

A1 only
B2 and 3 only
C1 and 3 only
D1, 2 and 3
20Easyprelims2 marks
Human Development, Poverty & Employment Schemes

Who among the following can join the National Pension System (NPS)?

AResident Indian citizens only
BPersons of age from 21 to 55 only
CAll State Government employees joining the services after the date of notification by the respective State Governments
DAll Central Government employees including those of Armed Forces joining the services on or after 1st April, 2004
21Easyprelims2 marks
Digital Payments & Financial Inclusion

Consider the following statements: 1. The National Payments Corporation of India (NPCI) helps in promoting financial inclusion in the country. 2. NPCI has launched RuPay, a card payment scheme. Which of the above statements is/are correct?

A1 only
B2 only
CBoth 1 and 2
DNeither 1 nor 2
22Mediumprelims2 marks
Human Development, Poverty & Employment Schemes

With reference to 'National Skills Qualification Framework (NSQF)', which of the statements given below is/are correct? 1. Under NSQF, a learner can acquire the certification for competency only through formal learning. 2. An outcome expected from the implementation of NSQF is the mobility between vocational and general education.

A1 only
B2 only
CBoth 1 and 2
DNeither 1 nor 2
23Mediumprelims2 marks
Agriculture & Rural Development

What is/are the advantage/advantages of implementing the 'National Agriculture Market' scheme? 1. It is a pan-India electronic trading portal for agricultural commodities. 2. It provides the farmers access to nationwide market, with prices commensurate with the quality of their produce. Select the correct answer using the code given below:

A1 only
B2 only
CBoth 1 and 2
DNeither 1 nor 2
24Easyprelims2 marks
Agriculture & Rural Development

Consider the following statements: The nation-wide ‘Soil Health Card Scheme’ aims at 1. Expanding the cultivable area under irrigation. 2. Enabling the banks to assess the quantum of loans to be granted to farmers on the basis of soil quality. 3. Checking the overuse of fertilizers in farmlands. Which of the above statements is/are correct?

A1 and 2 only
B3 only
C2 and 3 only
D1, 2 and 3
Economics — All Years|All Subjects