Economy MCQ4

1. A Non-Performing Asset of a non-agricultural loan book shall be a loan or advance where___:
Interest and/or instalment of principal remain overdue for 90 days in respect of term loan
The debtor is declared insolvent
Payment of interest/instalment of principal has been irregular
All of the above
2. Which one of the following was the purpose of appointment of Rangachary committee?
Taxation of software Development Centres & IT Sector
Taxation of Biotechnology and Pharmacy sector
Taxation of MSME sector
]None of the above
3. Recently the Cabinet Committee on Economic Affairs (CCEA) has deferred its decision on Accelerated Irrigation Benefit Programme (AIBP) for the 12th five year plan (FYP), because of which of the following reasons?
Because of non-approval by Planning commission
Reports suggesting underutilisation of full potential of irrigation projects created under 10th FYP
To readdress changing nature of irrigation requirements
All of the above
4. The Shome committee which was appointed to look into the guidelines of General Anti Avoidance Rules (GAAR) has recommended retrospective application of tax law only in rarest of rare cases. Which of the following recommendation/s is/are made by this panel? 1.To correct anomalies in the statues of Tax laws, 2.To protect the tax base from abusive tax planning schemes with a purpose to avoid tax 3.To correct technical/procedural defects that impairs a substantive law Choose the correct option from the codes given below:
1 only
2 only
3 only
1, 2 and 3
5. Which one of the following is the new sub-category of the commercial real estate sector (CRE) as per the latest RBI directive?
Residential projects
Commercial projects
Industrial projects
SEZ projects
Score =
Correct answers: