Economy previous Year Questions from 2017 (UPSC/ IAS)

3 responses to “Economy previous Year Questions from 2017 (UPSC/ IAS)”

1. 

   Raj Gamit

   May 31, 2022

   Q6 NIIF.
   Answer should be ‘D’. Please make sure you upload right answer. It’s unpleasant to know this website has marked wrong answer.

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   1. 

      Chapterwisemcq

      June 1, 2022

      thanks to know about the doubt you are facing with the question .
      if i am not wrong this is your question.
      6. Which of the following statements is/are correct regarding the Monetary Policy Committee (MPC)? (UPSC / IAS 2017)
      (1) It decides the RBI’s benchmark interest rates.
      (2) It is a 12-member body including the Governor of RBI and is reconstituted every year.
      (3) It functions under the chairmanship of the Union Finance Minister.
      Select the correct answer using the code given below :
      (a) 1 only
      (b) 1 and 2 only
      (c) 3 only
      (d) 2 and 3 only

      as per our notes or any other web sites we have confirmed the answer is option “A” we are attaching the solution below you can find out
      Solution
      The correct option is A 1 only
      Explanation:

      Statement 1 is correct: The Reserve Bank of India Act, 1934 (RBI Act) was revised by the Finance Act, 2016, to establish a statutory and institutionalised framework for a Monetary Policy Committee to preserve price stability while also pursuing growth.

      Statement 2 is incorrect: The Governor of the Reserve Bank of India leads the six-member MPC. MPC is made up of three RBI members and three government-appointed members.

      Statement 3 is incorrect: The majority makes policy rate decisions.

      Reply
      1. 

         Chapterwisemcq

         June 1, 2022

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