Who is the ex-officio Chairperson of NITI Aayog? MCQ with Answer and Explanation

Question

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Who is the ex-officio Chairperson of NITI Aayog?

A. Finance Minister

B. President

C. Prime Minister

D. Vice President

Answer: Option C

Solution (By JKSSB Mock Tests)

The Prime Minister is the ex-officio Chairperson of NITI Aayog.

This question belongs to: Economy GK Economy Set 1

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Question #1

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Which of the following bodies was responsible for approving five year plans in India before the establishment of NITI Aayog?

A. Parliament

B. Cabinet Committee on Economic Affairs

C. Finance Ministry

D. National Development Council

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Correct Answer: Option D

Explanation:
The National Development Council approved the Five Year Plans before NITI Aayog was formed.

This question belongs to: Economy GK Economy Set 1

Question #2

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Statutory Liquidity Ratio is the percentage of NDTL that banks must maintain in:

A. loans to government

B. gold, cash and approved securities

C. cash with RBI only

D. foreign exchange only

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Correct Answer: Option B

Explanation:
SLR requires banks to maintain liquid assets such as cash, gold and approved securities.

This question belongs to: Economy GK Economy Set 1

Question #3

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Deficit financing means:

A. financing government expenditure through taxation

B. financing government expenditure through borrowing or money creation

C. reducing government expenditure

D. repayment of public debt

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Correct Answer: Option B

Explanation:
Deficit financing involves financing a budget deficit through borrowing or creation of money.

This question belongs to: Economy GK Economy Set 1

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