Identify the incorrect combination from the following :Finance Commission Constituted (Year) Report Submitted (Year) Chairman (A) 1st 1951 1953 K.C. Neogi (B) 7th 1977 1978 J.M. Shelat (C) 11th 1998 2000 N.K.P. Salve (D) 13th 2007 2009 V.L. Kelkar
11th 1998 2000 N.K.P. Salve
Finance Commissions are constituted by the President under Article 280 of the Constitution, roughly every five years, to recommend how central taxes are shared between the Union and the States and how grants-in-aid are given.
First Finance Commission: constituted in 1951 under K.C. Neogy, it made recommendations for 1952–57. The chairman and constitution year are correct.
Seventh Finance Commission: constituted in 1977 under Justice J.M. Shelat, it reported in 1978 for the period 1979–84. This combination is correct.
Eleventh Finance Commission: constituted in 1998, it reported in 2000 for 2000–05, but its chairman was Prof. A.M. Khusro. N.K.P. Salve chaired the Eighth Finance Commission (constituted 1982). This combination is therefore incorrect.
Thirteenth Finance Commission: constituted in November 2007 under Dr. Vijay L. Kelkar, it reported in December 2009 for 2010–15. This combination is correct.
Hence, 11th 1998 2000 N.K.P. Salve.
From the following, identify the tools of fiscal policy :
(i) Public expenditure
(ii) Open market operations
(iii) Deficit financing
(iv) Taxation
(v) Reserve requirements
Codes :
Liberalization means :
Which of the following is not the main objective of “Fiscal Policy of India” ?
The Foreign Investment Promotion Board (FIPB) revamps the rules and regulations pertaining to
Assertion (A) : The industrial growth in India has been hampered by the burden of many controls and regulations.
Reason (R) : The New Industrial Policy seeks to liberate the industry from the shackles of Licensing System.
Codes :
Which one among the following is not the salient feature of industrial policy since 1991 ?
Match the items given in List-I and List-II.
| List – I | List – II | ||
| (a) | Economic liberalisation | (i) | IT-enabled services |
| (b) | Out sourcing | (ii) | SFIO |
| (c) | Corporate frauds | (iii) | Macro economic stability |
| (d) | Second generation reforms | (iv) | Increased competition |
Indicate the correct combination :
Codes :
(a) (b) (c) (d)
There is acute shortage of electricity in some of the states in India. This reflects a problem in which type of business environment ?
Statement – I : The industrial policy of the Government of India is aimed at increasing the tempo of industrial development.
Statement – II : After the New Industrial Policy – 1991, the Balance of Trade for India has always been positive.
Codes :
Which among the following is not a correct combination ?
Which of the following is not a central problem of an economy ?
From the following, identify the tools of fiscal policy :
(i) Public expenditure
(ii) Open market operations
(iii) Deficit financing
(iv) Taxation
(v) Reserve requirements
Codes :