Which of the following statements is/are correct?

1. The 14th Finance Commission was constituted under the Chairmanship of Shri Yijay Kelkar.
2. The 14th Finance Commission has been specifically asked also to recommend how non-priority PSUs be relinquished.

Select the correct answer using the code given below.

• 1 only

• 2 only

• Both 1 and 2

• Neither 1 nor 2

Examine these two statements carefully and select the answers to these items using the codes given below

Statement I: Indian economy has experienced slower growth rate during the years 2010-11 and 2011-12.

Statement II: Indian economy has experienced weakening industrial growth during the period.

• Both the statements are individually true and Statement II is the correct explanation of Statement I

• Both the statements are individually true but Statement II is not the correct explanation of Statement I

• Statement I is true but Statement II is false

• Statement I is false but Statement II is true

Which of the following statements about 'Chit Fund' in India is/are correct?

1. It is kind of savings scheme.
2. There are no Acts regulating the activities relating to Chit Funds in India

Select the correct answer using the code given below:

• 1 only

• 2 only

• Both 1 and 2

• Neither 1 nor 2

Consider the following about the budget proposals for the year 2012-2013:

1. Service tax rate raised and covers all services including those in the negative list.
2. Increase in defense allocation over the previous year.

Which of the statements given above is/are correct?

• 1 only

• 2 only

• Both 1 and 2

• Neither 1 nor 2

The 'Bombay Plan' drafted by G.D. Birla and J.R.D. Tata emphasized:

• that the economy should be left to the dynamic investments by the private sector in heavy industries etc.

• the public sector investment in infrastructure and heavy industries.

• annual planning

• that the private sector should foot the bill for intensive and low return investments in the industrial sector

Which one among the following statements regarding the Eighth Five Year Plan in India is not correct?

• The plan was postponed by two years because of political upheavals at the center

• It aimed at high growth of both agriculture and manufacturing sectors

• Its emphasis was on growth in export and import, improvement in trade, and current account deficit

• It set before itself the two principal objectives of 'growth with stability' and 'growth with justice'

Which among the following statements is/are true with regard to WTO membership?

1. All WTO members automatically receive the 'most favored nation' status
2. Over 75% of WTO members are from developing countries. WTO membership allows them access to developed markets at the lower tariff

Select the correct answer using the code given below:

• 1 only

• 2 only

• Both 1 and 2

• Neither 1 nor 2

TRIPS (Trade-Related aspects of Intellectual Property Rights) agreement is administered by

• United Nations Conference on Trade and Development (UNCTAD)

• United Nations Organization (UNO)

• Word Trade Organization (WTO)

• World Bank (WB)

Consider the following statements:

1. The G20 was established in 2008 in the wake of the global financial crisis led by the USA
2. It brings together the major advanced and emerging economies to stabilize the global financial market
3. India's stand on Mutual Assessment Process (MAP) for measuring imbalances between surplus and deficit economies in the Seoul conference of G20 in the year 2010 was firmly endorsed by all the nations

Which of the statements given above is/are correct?

• 1,2 and 3

• 1 and 2 only

• 2 and 3 only

• 3 only

Consider the following statements with regard to the Global Hunger Index:

1. India ranks within the top ten among the developing countries in the Global Hunger Index 2010
2. According to the Global Hunger Index 2010, the proportion of undernourished in India is decreasing
3. Normally economic progress of a country measured by its gross national income and the hunger level is inversely correlated

Which of the statements given above is/are correct?

• 1, 2 and3

• 2 and 3 only

• 1 and 2 only

• 3 only