General Knowledge Questions with Answers

1. Mat expands to…

a: Medium Advisory Tax
b. Minimum Accounted Tax
c. Minimum Automated Tax
d. Minimum Alternate Tax

2. This company was i.n the news in march 2005 as ‘U’ was planned to be its new logo. Can you identify the name of the company from the given options?
a. P&G
b. HLL
c. Nestle
d. Dabur

3. What is the expected GDP growth rate in 2005-2006, according to the Union Budget 2005-2006?
a. 6 per cent
b. 6.1 per cent
c. 6.3 per cent
d. 6.9 per cent

4. Identify the Indirect Tax from the given options.
a. Wealth Tax
b. Gift Tax
c. Sales Tax
d. Corporation Tax

5. Which of the following represents the expansion of ‘R’ in RFID?
a. Regional
b. Radio
c. Recorded
d. Reliance

6. This bank, in collaboration with NGOs, launched the ’social card’ for those people who want to contribute to the welfare of the society but either do not have time to do so or do not know which cause they would like to support. Can you identify the name of the bank in question from the given options?
a. Canara Bank
b. SBI
c. Punjab National Bank
d. Bank of India

7. Kishore Biyani, who is considered India’s largest retailer owns….
a. Shoppers Stop
b. Pantaloon
c. West Side
d. RPG Enterprises

8. The year in which the World Bank was incorporated in the UN system was….
a. 1994
b. 1946
c. 1947
d. 1949

9. The United Nations named the year 2005 as…
a. Year of savings
b. Year of Investments
c. Year of micro finance
d. Year of macro finance

10. The name of the Air India’s budget airline, that was launched in April 2005, is …
a. Air lndia Aviator
b. Air India Express
c. Air India Smarty
d. Air India Genie

11. Which of the following represents the expansion of ‘T’ in ‘TIN’?
a. Trade
b. Tax
c. Transmission
d. Total

12. Which of the following personalities is the author of Jeh: A Life of JRD Tata?
a. RM Lala
b. BK Dadabhoy
c. Dwijendra Tripathi
d. BK Karanjia

13. Which of the following represents the worth of the deal in which Adhikari brothers sold the SAB TV brand to the Sony TV in March 2005?
a. $7 million
b. $10 million
c. $13 million
d. $15 million

14. Which city hosted the G-20 meet in the third week of March 2005?
a. Lahore
b. Sau Paulo
c. New Delhi
d. Phuket

15. Identify the incorrect match. Automobile company Car Model
a. Fiat Automobiles Panda
b. Skoda Automobiles Fabia
c. Honda Automobiles Civic
d. All of them are matched properly

16. This personality was the FORBES Asian Businessman of the year 2004. Can you identify him from the given options?
a. Ratan Tata
b. Anil Ambani
c. KV Kamath
d. Nusli Wadia

17. According to a survey conducted by Hewitt Associates, which of the following companies was adjudged as the best employer of 2004?
a. P & G India
b. NTPC
c. Bharti Televentures
d.TCS

18. Awaz is the Hindi business news channel that belongs to the stable of …
a. NDTV
b. CNBC TV 18
c. Zee News
d. Sony TV

19. ‘Make your own road’ is the catchphrase that you would associate with….
a. Chevrolet Tavera
b. Tata Safari
c. Tata Sumo
d. Ford Endeavor

20. The maximum revenue to the government comes from….
a. Service tax
b. Custom duty
c. Excise duty
d. Income tax

Answer key:

1. d. Minimum Alternate Tax
2.b.HLL
3. d. 6.9 per cent
4. c. Sales Tax
5. b. Radio (RFID: RadioFrequency. Identification)
6. b. SBI
7. b. Pantaloon
8. c.1947
9. c. Year of micro finance
10. b. Air India Express
11. b. Tax(TaxlnformationNetwork)
12. b. BK Dadabhoy
13. c. $13 million
14. c. New Delhi
15. d. All of them are matched properly
16. a. Ratan Tata
17. d. TCS
18. b. CNBC TV 18
19. b. Tata Safari
20. c.. Excise Duty

Indian Economic Survey 2009-10

Indian Economic Survey 2009-10

Finance Minister Pranab Mukherjee Thursday 25 Februar, 2010 tabled a cautious but optimistic Economic Survey 2009-10 in Parliament, which predicted 7.2 percent growth for the current fiscal and a full recovery in 2011-12, while remaining concerned over inflation and fiscal deficit.

The Survey said Indian economy is well on a recovery track and is expected to expand by 8.25-8.75 percent in 2010-11 and even exceed 9 percent the year after.


Survey Highlights
Growth 
● Economy seen growing 8.25-8.75 % in 2010-11
● Economy expected to return to 9% growth in medium term
● India FY11 growth seen 100 bps more than FY10
● Medeum term prospects of economic growth “really strong”
● India could be fastest growing economy in next four years
● Expect GDP growth to breach 9% mark in 2011-12
● Risk of second dip recession in advanced nations
● India seems to be returning to pre-crisis growth rate
● India medium, long-term growth prospects excellent
● No reason why India can’t achieve double-digit growth
● Clear Sign of recovery in industrial output
● Largely contained risk to growth from poor monsoon

Food Prices
● Food subsidy must be given directly to households
● Food coupons must replace existing PDS system
● Must identify poor for effective food coupon system
● Possible to switch to food coupons system by 2012
● India has ample stocks of wheat, rice
● Wheat prices may moderate on hope of better harvest
● Vegetable prices started to ease on rabi crop arrival
● Food suibsidy must be given directly to households
● Food coupons must replace existing PDS systems

Inflation
● Concern of higher than expected inflation in coming months
● Rapidly rising food inflation cause for concern
● WPI inflation in FY10 out of sync with trend in previous years
● Near-term supply pressure driving inflation outlook
● WPI inflation expected to stabilize due to government steps
● Signs food, fuel inflation spreading to other items
● Current petroleum prices not viable in long run
● Inflation largely due to supply-side bottlenecks
● Supply crunch in some commodities on poor monsoon
● Poor rain prevented seasonal food price fall post October
● Hype about khariff failure exacerbated WPI expectation
● Base effect, mild manufacturing WPI helped recovery
● Divergence between WPI, CPI inflation rates declining
● Food inflation may have peaked in December, seen easing
● What, rice price rise on inflationary expectations
● Low demand causing price moderation in mining FY10

Agriculture 
● Agriculture sector continues to be cause of concern
● Need policy initiatives to raise farm growth to 4%
● Likely to end FY10 with sufficient wheat stocks
● Fear of pulses shortage may be causing price spurt
● Higher sowing area of pulses may tame prices
● Local sugar supply shortage causing price surge
● Global sugar price rise likely on big imports by India
● High inflation in milk from coarse cereals, oil cakes
● FCI should be allowed to keep flexible buffer norms
● Need to improve govt strategy for food releases
● Govt shouldn’t have any dealing with fertiliser companies
● Fertiliser companies should be allowed pricing freedom
● Provide fertiliser subsidy to farmers
● Introduce coupon system to subsidise fertilisers
● Hype about kharif failure encouraged hoarding
● Delay in release of imported sugar aided price rise
● High food grain stock putting stress on fiscal health
● Efficient stock management needs urgent attention
● Govt food grain stocks adequate to meet PDS needs
● FY10 farm GDP fall seen only 0.2% despite poor rains
● Apr-Dec rice, wheat off take 35.8 mln tn, up 43% on ry
● High MSP has potential to raise open market prices
● Support price benefit to small farmers doubtful
● Balancing needs to small farmers, consumers a challenge
● Govt wheat buy cost seen 1,504.39 rupee/100 kg FY10
● Govt rice buy cost seen 1,893.71 rupee/100 kg 2009-10
● Wheat open market sale scheme helped stabilise price
● Fall in sugar output put pressure on prices
● 2009-10 sugar output seen 16 mn tones
● 2009-10 edible oil import seen 10.1 mn tones
● India 2009-10 edible oil supply seen 18.3 mn tones
● India 2009-10 edible oil requirement seen 13.8 mln tn
● Apr-Dec farm futures volume 38% of commodity trade
● Kharif crop output loss may be partly made up in rabi
● Grain yield increase not enough to meet rising demand
● Research, better farm methods key to high crop yield
● Need to focus on states with low crop productivity
● Output, yield of pulses, oilseeds a growing concern
● Scope of pulses import limited to tight global supply
● Falling private investment in agriculture a concern
● Cheap, timely credit must to up private investment in farming
● Research on high yield seeds must to counter drought
● Food security, stock management priority areas
● Multi-cropping, raising yield key to higher output
● 2009-10 kharif grain area 66.8 mln ha, gown 4.6 mln on yr
● Fertiliser use at 128.6 kg/ha in 2008-09
● Oct-Dec post monsoon rains 8% above normal
● NAFED oilseed buy 64,802 tn till Jan 4 on govt account
● 2009-10 coffee output seen 290,000 tn, up 10.6% on yr
● Coconut palm insurance scheme to continue FY

Industry 
● Industry sector “revival” evident post economic slowdown
● Indian industrial outlook “bright” in medium term
● Downward trend in IIP growth stands reversed
● Growth in capital goods segment below pre-2007 level
● Growth in consumer durables aiding industrial revival
● Textile exports continue to lag
● Fertilizer output hit by raw material availability
● Local steel industry revived from global slowdown
● Local steel outlook for 2010 remains positive
● Local steel demand back on “stable footing”
● Local steel demand seen up on real estate, auto growth
● FDI inflow in farm sector services grew highest in 2009-10
● Services sector attracted highest FDI inflow FY 10
● Govt mulling overseas urea, ammonia projects
● Contribution of food products in manufacturing WPI seen down
● Capacity addition in power, road sectors “lagging”
● Infrastructure impediment hampering industry growth

Fiscal Policies
● Indian economy has shown ‘V’-shaped recovery
● Broad-base revival gives room for gradual stimulus cut
● Fundamentals justify optimism for India in long run
● Consider Finance Ministry panel suggestion to shape FY11 fiscal goals
● Job losses seem to have reversed in recent months
● Expect domestic oil output to grow on new discoveries
● Food market condition, improved capital flow encouraging
● Manufacturing sector showing buoyancy in recent months
● Too early to say if buoyancy in manufacturing a trend
● Seen substantial pick-up in corporate earnings, margin
● Pace, shape of global recovery remains uncertain
● Global recovery losing steam on stimulus cut
● Transmission of monetary policy remains sluggish
● Higher government borrowing raised banks’ SLR investments
● Saving, investment rate good for medium term growth
● Savings rate expected to rise further
● Government should promote transparency in commodity futures
● Impact of current subsidy system questionable

Monetary 
● RBI policy stance transmission to real sector critical
● Fiscal rectitude important for Indian economy
● Need to monitor credit flow to productive sectors
● Need to ensure medium, long-term growth on even keel
● RBI policy aims at expanding credit at viable rates
● RBI stance aimed at steady growth via credit quality
● States Market Borrowing Rs 106000 cr up to Jan 15
● Money market mostly orderly in FY 10 on high liquidity
● CBLO volumes over 80% of total money market volume FY 10
● Liquidity condition remained comfortable in 2010
● RBI’s Rs 57000 cr OMO buys FY 10 aided liquidity
● Monetary easing main theme of liquidity management FY 10
● RBI actively held apt liquidity via OMO, LAF, MSS FY 10

Banking
● Growth in bank credit remained low in FY 10
● Public sector banks better than private in credit growth
● Growth in food credit low so far in FY 10
● Need more transparency in micro-finance functioning
● Computerisation of banking sector in completion stage
● Rise in risk appetite increased capital inflows in 2009

Financial Institutions
● Need to extend NPS to central, state autonomous bodies
● Pension reforms made significant progress in India
● Challenge to expand distribution network of NPS
● Pension reforms to facilitate long-term savings
● Interdependence of corporate, MFs rising concern

Markets
● Govt intervention in markets should be minimal
● Govt shouldn’t impose outright commodity futures ban
● Equity market showed signs of recovery after April
● Regulatory steps taken to make markets sound, stable
● Seen revival in secondary market following stimulus
● Volumes in currency futures on BSE not significant
● Trading volumes in interest rate futures low
● Retail investor participation limited in corporate debt market
● Retail investor participation limited in mutual funds

Miscellaneous
● Unique identity system to come into0 effect in 2012
● Labour law reforms can improve Labour demand