686: Which one of the following was not stipulated in the Fiscal Responsibility and Budget Management Act, 2003 ?
(a) Elimination of revenue deficit by the end of the fiscal year 2007-08
(b) Non-borrowing by the central government from Reserve Bank of India except under certain circumstances
(c) Elimination of primary deficit by the end of the fiscal year 2008-09
(d) Fixing government guarantees in any financial year as a percentage of GDP
Explanation:
The main points under the FRBM Act, 2003 and FRBM Rules, 2004 includes :
(i) To reduce the fiscal deficit by 0.3% of GDP per year, so that the deficit is less than 3% of GDP by 2007-08.
(ii) To limit of Govt. guarantees to at most 0.5% of GDP in any financial year.
(iii) To limit additional liabilities to 9% of GDP in 2004-05 to 6% of GDP by 2007-08.
(iv) Not to borrow directly from RBI with effect from 1 April 2006.
(v)To present 3 statements before the Parliament along with annual budget (Macro economic Framework Statement, Fiscal Policy strategy Statement and Medium-term Fiscal Policy Statement).
(vi) To move towards greater fiscal transparency and start disclosing information in the areas of unrealised revenue, guarantees and assets latest by 2006-07.
687: Which of the following pairs are correctly matched ?
I. Dow Jones : New York
II. Hang Seng : Seoul
III. FTSE - 100 : London
Select the correct answer using the codes given below:
(a) I, II and III
(b) II and III
(c) I and II
(d) I and III
688: Which of the following statements best describes the term 'Scheme for Sustainable Structuring of Stressed Assets (S4A)', recently seen in the news?
(a) It is a procedure for considering ecological costs of developmental schemes formulated by the Government.
(b) It is a scheme of RBI for reworking the financial structure of big corporate entities facing genuine difficulties.
(c) It is a disinvestment plan of the Government regarding Central Public Sector Undertakings.
(d) It is an important provision in The Insolvency and Bankruptcy Code recently implemented by the Government.
689: Conception generally takes place at the time of:
(a) Menses
(b) Before menses
(c) Immediately after menses
(d) Two weeks after menses
690: 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:
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1, 2 and 3