UPSC CSE Prelims Exam 2024 is fast approaching and candidates who wish to clear the exam must go through their last lap of revision and attempt the prelims test series to be confident in facing the exam.
Check out the following previous year’s questions on Economics and solutions along with it, to test your knowledge.
I. Consider the following statements :
Statement 1:
Interest income from the deposits in Infrastructure Investment Trusts (InviTs) distributed to their investors is exempted from tax, but the dividend is taxable.
Statement 2:
InviTs are recognized as borrowers under the ‘Securitization and Reconstruction of Financial Assets and· Enforcement of the Security Interest Act, 2002.
Which one of the following is correct in respect of the above statements?
Solution: It is correct that InviTs are recognized as borrowers under the ‘Securitization and Reconstruction of Financial Assets and· Enforcement of the Security Interest Act, 2002. However, it is incorrect that the interest income from the deposits in Infrastructure Investment Trusts (InviTs) distributed to their investors is exempted from tax, but the dividend is taxable.
II. Consider the following statements :
Statement 1.
In the post-pandemic recent past, many Central Banks worldwide had carried out interest rate hikes.
Statement 2:
Central Banks generally assume that they have the ability to counteract the rising consumer prices via monetary policy means.
Which one of the following is correct in respect of the above statements?
Solution: From the given statements, we can find that both statements are true and the second statement is an explanation for the first statement.
III. Consider the following statements about G-20:
1. The G-20 group was originally established as a platform for the Finance Ministers and Central Bank Governors to discuss the international economic and financial issues.
2. Digital public infrastructure is one· of India’s G-20 priorities.
Which of the statements given above is/are correct?
Solution: Both the statements about G-20 are correct.
Also Read: UPSC CSE 2024 handbook: Check Previous Year Questions on Ancient Indian History Part II
(Questions taken from UPSC CSE 2023 Preliminary question paper)