In India, the repo rate is decided by: MCQ with Answer and Explanation

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In India, the repo rate is decided by:

A. NITI Aayog

B. RBI Governor

C. Monetary Policy Committee

D. Finance Minister

Answer: Option C

Solution (By JKSSB Mock Tests)

The Monetary Policy Committee of the RBI decides the policy repo rate.

This question belongs to: Economy GK Economy Set 1

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Question #1

Which of the following is a feature of the 'Care Economy' agenda?

A. Recognition of the economic and social value of paid and unpaid care work and policies to support its provision and quality

B. Only the privatisation of all care services

C. Only the neglect of care work as non-economic

D. Only the reduction of public support for care

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Correct Answer: Option A

Explanation:
The care-economy agenda highlights the central role of care work—both paid and unpaid—in sustaining societies and economies, and advocates policies that recognise, reduce and redistribute care responsibilities more equitably.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'errors and omissions' item in the balance of payments is used to:

A. show exports

B. show foreign exchange reserves

C. balance the statistical discrepancies

D. show imports

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Correct Answer: Option C

Explanation:
Errors and omissions balance statistical discrepancies so the BoP accounts sum to zero.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Integrated Child Development Services' scheme was launched in:

A. 1975

B. 1965

C. 1995

D. 1985

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Correct Answer: Option A

Explanation:
ICDS was launched in 1975.

This question belongs to: Economy GK Economy Set 1

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