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General Studies Free Quiz- Test Paper No.3:

Evaluate Yourself:

  1. Devaluation of a currency means
    1. Reduction in the value of a currency vis-a-vis major internationally traded currencies
    2. Permitting the currency to seek its worth in the international market
    3. Fixing the value of the currency in conjunction with the movement in the value of a basket of predetermined currencies
    4. Fixing the value of currency in multilateral consultation with the IMF, branch the World Bank and major trading partners
    Answer:
    A
  2. Central Statistical Organisation (CSO) under the Ministry of statistics and program implementation include:
    1. WPI (Wholesale price index)
    2. CPI (Consumer price index)
    3. IIP (Index of Industrial production)
    4. Both (b) and (c)
    Answer:
    D
  3. Land reform programmes in India include
    1. Tenancy reforms
    2. Consolidation of land holdings
    3. Elimination of intermediaries
    4. Computerisation of land records
    Answer:
    B
  4. Which among the following are aimed at enhancing agricultural growth in India?
    1. National Policy for Farmers
    2. Kisan Credit Card
    3. Bharat Nirman
    4. MGNREGA
    5. Contract farming
    6. Watershed Development
    7. Nutrient based fertilizer subsidy
    Which of the mentioned above is/ are correct?
    1. 1, 2, 6 and 7
    2. 1, 2, 5, 6 and 7
    3. 1, 2, 3, 5, 6 and 7
    4. All of these
    Answer:
    C

    Explanation:

    Bharat Nirman was an Indian business plan for creating and augmenting basic rural infrastructure. One of its six subparts is development of irrigation for agricultural growth.

    MGNREGA is designed to provide job guarantee for at least 100 days in rural parts of the country. Through this scheme, all the adult members of the any family in rural areas are given nonskilled work.

    Contract farming involves agricultural production being carried out on the basis of an agreement between the buyer and farm producers. The company often also agrees to support the farmer through, e.g., supplying inputs, assisting with land preparation, providing production advice and transporting produce to its premises.

  5. Consider the following statements in context of Reserve Bank of India:
    1. Fixing Rupee Exchange Rate
    2. Custodian of Foreign Reserves
    3. Acting as National Clearing House
    4. Control NBFCs
    Which of the above mentioned statement(s) is/are the function(s) of RBI?
    1. Only 1 and 2
    2. Only 1,2 and 3
    3. Only 2,3 and 4
    4. 1,2,3, and 4
    Answer:
    C

    Explanation:

    RBI only takes measures to guide rupee exchange rate in a particular direction, e.g., indirectly buying/selling dollars, placing curbs on gold imports etc.

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