31. “Riksdag” is the name of parliament of which of the following?
[A] Iran
[B] Norway
[C] Sweden
[D] Kazakhstan
Answer: C [Sweden]
The Riksdag is the national legislature and the supreme decision-making body of the government of Sweden.
32. In which year Manipur and Tripura became full-fledged state of India?
[A] 1962
[B] 1968
[C] 1972
[D] 1980
Answer: C
Tripura, Manipur, and Meghalaya became full-fledged states of India on 21 January, 1972, under the North Eastern Region (Re-organisation) Act, 1971.
33. Who was the first Chief election commissioner of India?
[A] KVK Sundaram
[B] SP Sen Verma
[C] Sukumar Sen
[D] Rajmannar
Answer: C
Notes:
Sukumar Sen (1898–1963) was an officer of the Indian Civil Services (ICS). He was first Chief Election Commissioner (CEC) of India, serving from 21 March 1950 to 19 December 1958. Two general elections viz. 1951–52 and in 1957 were administered under his watch.
34. Indian Muslims were allotted reserved seats in the Municipal and District Boards, in the Provincial Councils and in the Imperial Legislature, in which of the following acts?
[A] Government of India Act 1909
[B] Government of India Act 1919
[C] Indian Councils Act 1861
[D] Indian Councils Act 1891
Answer: A [Government of India Act 1909]
Notes:
A Morley-Minto Reform is also known as the Indian Council Act of 1909. Indian Muslims were allotted reserved seats in the Municipal and District Boards, Provincial Councils and Imperial Legislature. Lord Minto is known as the Father of Communal Electorate in India.
35. Which among the following is considered to be the main determinant of the level of activity is in national income terms?
[A] The level of taxation
[B] Realized investment
[C] Planned saving
[D] Factor mobility
Answer: B [Realized investment]
Notes:
Realized Investment means an Investment resulting in a sale, transfer or restructuring of a good or service. It is considered to be the main determinant of the level of activity in national income.
36. Approval of which among the following authorities alone would be sufficient to draw funds from Consolidated Fund of India?
[A] Only Parliament
[B] Only President
[C] Either Parliament or President
[D] Both Parliament and President
Answer: A [Only Parliament]
No money can be appropriated (issued or drawn) out of Consolidated fund of India except in accordance with a parliamentary law.
37. Rs. 100 notes are printed in which of the following?
[A] The Indian Security Press Nasik
[B] The Security Printing Press Hyderabad
[C] The bank Note Press, Dewas
[D] All 1, 2 & 3
Answer: D
The currency notes in India are printed in 4 presses. Two of them are owned by the Government of India and are located at Nashik and Devas. Two others are owned by the Reserve Bank of India at Mysore and Salboni
38. In which year 30-scrip Sensex was launched by the BSE, the oldest bourse in the entire Asian continent?
[A] 1980
[B] 1983
[C] 1986
[D] 1990
Answer: C
The 30-scrip Sensex was launched by the Bombay Stock Exchange (BSE) in 1986. The BSE, established in 1875, is the oldest stock exchange in Asia and the first in India. The Sensex serves as a benchmark index, reflecting the performance of the top 30 companies listed on the BSE.
39. What is India’s rank in steel production in the world?
[A] 1st
[B] 2nd
[C] 3rd
[D] 4th
Answer: B
Notes:
India has established itself as a major player in the global steel industry, holding the position of the world’s second-largest steel producer after China and the top producer of sponge iron. The country is also the third-largest consumer of finished steel globally, trailing only China and the United States. India’s steel sector has shown remarkable growth, with production increasing by 8.5% year-on-year from January to April 2024, outperforming other top steel producers who experienced declines during the same period. Looking ahead, the National Steel Policy 2017 sets an ambitious target to nearly double India’s steel production capacity from around 161 million tonnes to 300 million tonnes. The country’s steel industry is supported by several equipment manufacturers, including Heavy Engineering Corporation, Larsen & Toubro, and CG Industrial Solutions, further strengthening its position in the global market.
40. Which of the following Government gets the stamp duty collected on promissory notes?
[A] State Government 100%
[B] Central Government 100 %
[C] State Government 50% and Central Government 50%
[D] State Government 25% and Central Government 75%
Answer: A [State Government 100%]
Notes:
The correct answer is “State Government 100%.” In India, stamp duty on promissory notes is governed by the Stamp Act of 1899, which allows state governments to levy stamp duty. Each state has the authority to set its own rates, and the revenue collected from stamp duty is retained entirely by the state government. This is a important source of revenue for states, contributing to their financial resources for development and public services.
41. The power of the commercial banks to expand deposits through expanding their loans and advances is known as which among the following?
[A] Capital Expansion
[B] Credit Expansion
[C] Credit Control
[D] Credit Creation
Answer: D
The correct answer is “Credit Creation.” Commercial banks can create credit by issuing loans, which increases the money supply in the economy. This process is based on the fractional reserve banking system, where banks are required to keep only a fraction of deposits as reserves. For example, if a bank has a reserve requirement of 10%, it can lend out 90% of its deposits, effectively multiplying the money supply. This mechanism is crucial for economic growth, as it allows for increased investment and consumption.