The 'UDAY' scheme was launched by the Ministry of: MCQ with Answer and Explanation

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The 'UDAY' scheme was launched by the Ministry of:

A. Rural Development

B. Petroleum

C. Power

D. Finance

Answer: Option C

Solution (By JKSSB Mock Tests)

UDAY was launched by the Ministry of Power for DISCOM financial turnaround.

This question belongs to: Economy GK Economy Set 1

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Question #1

The term 'Fiscal Consolidation' refers to:

A. Only printing more money

B. Policies aimed at reducing fiscal deficit and public debt

C. Only increasing tax rates

D. Increase in government expenditure without regard to revenue

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Correct Answer: Option B

Explanation:
Fiscal consolidation refers to policies and measures undertaken to reduce the fiscal deficit and put public finances on a sustainable path.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Pradhan Mantri Ujjwala Yojana' was launched by which ministry?

A. Ministry of Rural Development

B. Ministry of Health

C. Ministry of Petroleum and Natural Gas

D. Ministry of Women and Child Development

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Correct Answer: Option C

Explanation:
PMUY is implemented by the Ministry of Petroleum and Natural Gas.

This question belongs to: Economy GK Economy Set 1

Question #3

The concept of 'Fiscal Dominance' refers to:

A. The absence of any deficit

B. Only the dominance of monetary policy

C. A situation in which fiscal policy constraints force the monetary authority to monetise deficits

D. Complete independence of the central bank

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Correct Answer: Option C

Explanation:
Fiscal dominance occurs when the fiscal authority’s need to finance deficits constrains or dictates the behaviour of the monetary authority, often leading to inflationary monetisation.

This question belongs to: Economy GK Economy Set 1

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