Common GK Quiz Questions and Answers

1. Capital expenditure is money spent by the government on the development of machinery, equipment, buildings, health facilities, education etc.

2. It also includes expenditure by the government on the acquisition of fixed assets like land and investments which give future profits or dividends.

3. Creation of assets as well as repayment of loans is also capital expenditure, as it reduces liability.

All the statements about the National Investment Fund in India are true.

I. It was created in 2005.

II. 75% of its annual income was to be used for schemes promoting health, education and employment.

1. From January 2015, as per the recommendations of the National Statistical Commission, the GDP in India The base year of the (GDP) series was revised from 2004-05 to 2011-12.

There are public sector insurance companies.

1. United India Insurance Company Limited

2. The New India Assurance Company Limited

3. General Insurance Corporation of India

1. The Basel norms are international banking rules to strengthen the international banking system.

2. It is in the form of an agreement by the Basel Committee on Banking Supervision which mainly focuses on the risks to banks and the financial system.

1. In the World Monetary Conference at Bretton Woods in 1944, R. Of. Shanmukham Chetty served as the Indian Finance Minister.

 2. Served as Speaker of the Central Legislative Assembly of India, and also as Dewan of Cochin State from 1935 to 1941.

1. The difference between the sum of revenue receipts and Non-Debt Capital Receipts (NDCR) and total expenditure is called fiscal deficit.

2. Fiscal deficit is an important indicator of the financial position of the government.

3. It shows how much difference there is between the current income and expenditure of the government.

4. Fiscal deficit can be influenced by many factors, including.

- Economic situation: During an economic recession, the government often increases the fiscal deficit to provide stimulus to the economy.

- Political pressure: Governments often run up fiscal deficits to raise funds for social programs.

- Military spending: Governments often run fiscal deficits to increase military spending.

1. The Reserve Bank of India introduced a comprehensive regulatory framework for NBFC-MFIs on 2 December 2011.