The Lead Bank Scheme was introduced in 1969 based on the recommendations of: MCQ with Answer and Explanation

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The Lead Bank Scheme was introduced in 1969 based on the recommendations of:

A. Narasimham Committee

B. Rangarajan Committee

C. Gadgil Study Group

D. Kelkar Committee

Answer: Option C

Solution (By JKSSB Mock Tests)

The Lead Bank Scheme was introduced on the recommendation of the Gadgil Study Group.

This question belongs to: Economy GK Economy Set 1

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Question #1

In the context of Indian public finance, 'Effective Revenue Deficit' is defined as:

A. Fiscal deficit minus interest payments

B. Primary deficit plus interest payments

C. Revenue deficit plus capital expenditure

D. Revenue deficit minus grants for creation of capital assets

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Correct Answer: Option D

Explanation:
Effective Revenue Deficit is Revenue Deficit minus grants given by the Centre to states and union territories for the creation of capital assets.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is a characteristic of the informal sector in developing economies?

A. Easy entry, small scale and labour intensity

B. High capital intensity and formal contracts

C. High degree of regulation

D. Complete absence of employment

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Correct Answer: Option A

Explanation:
The informal sector is characterised by easy entry, small-scale operations, labour-intensive technology, lack of formal contracts and limited regulation.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Infant Industry Argument' for protection supports:

A. permanent tariffs on all imports

B. free trade

C. temporary protection to new industries to help them develop

D. protecting mature industries

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Correct Answer: Option C

Explanation:
The infant industry argument supports temporary protection for new industries until they become competitive.

This question belongs to: Economy GK Economy Set 1

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