The 'Contingency Fund of India' is held by: MCQ with Answer and Explanation

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The 'Contingency Fund of India' is held by:

A. RBI

B. Finance Minister

C. Prime Minister

D. President

Answer: Option D

Solution (By JKSSB Mock Tests)

The Contingency Fund of India is placed at the disposal of the President.

This question belongs to: Economy GK Economy Set 1

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Question #1

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Which of the following is NOT a component of the current account of India's balance of payments?

A. Merchandise trade

B. Foreign direct investment

C. Invisibles (services, income, transfers)

D. Software exports

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Correct Answer: Option B

Explanation:
Foreign direct investment is recorded in the capital account. Merchandise trade, services (including software), income and transfers form the current account.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Food Safety and Standards Authority of India' works under which ministry?

A. Ministry of Health and Family Welfare

B. Ministry of Agriculture

C. Ministry of Commerce

D. Ministry of Food Processing Industries

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Correct Answer: Option A

Explanation:
FSSAI functions under the Ministry of Health and Family Welfare.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'exchange rate pass-through' refers to the effect of exchange rate changes on:

A. unemployment only

B. stock prices only

C. government spending

D. domestic prices of imports and inflation

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Correct Answer: Option D

Explanation:
Exchange rate pass-through is the impact of exchange rate changes on domestic prices.

This question belongs to: Economy GK Economy Set 1

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