UPSC Prelims Marathon 26th January – Revision – 2025

Consider the following statements:
1.GST Council is a constitutional body established by the President under the Article 279A.
2.GST Appellate Tribunals (GSTAT) is a constitutional body under the Central GST Act, 2017.
Which of the statements given above is/are incorrect?

Consider the following statements regarding tax to GDP ratio in India:
1.It is the ratio of the tax revenue of a country compared to the country’s GDP.
2.A decrease in tax to GDP ratio of a country may indicate a slowing economic growth rate.
Which of the statements given above is/are correct?

Consider the following statements:
1.The Code on Wages, 2019 provides for universal minimum wage and floor wage across organized sectors only.
2.The Code on Social Security 2020 seeks to protect gig workers’ rights by giving them social security protections.
Which of the statements given above is/are correct?

Consider the following statements regarding “Cash Reserve Ratio (CRR)”:
1.It is the share of a bank’s Net Demand and Time Liabilities (NDTL) that is mandated by the Reserve Bank of India (RBI) to be maintained with the latter as reserves in the form of liquid cash.
2.As per the nationalization of banks act 1948, all Scheduled Commercial Banks are required to maintain the CRR.
Which of the statements given above is/are incorrect?

Which of the following is/are liquidity management tool/s of Reserve Bank of India?
1.Standing Deposit Facility (SDF)
2.Altering Repo and Reverse repo rates
3.Open market operations
Select the correct answer from below given codes:

Consider the following statements regarding “Dabba (Box) Trading”:
1.It is formal trading that takes place outside the purview of stock exchanges.
2.It is recognized as an offence under the Securities Contracts (Regulation) Act (SCRA), 1956.
Which of the statements given above is/are correct?

The “Washington Convention” is associated with which of the following?

Consider the following statements regarding “Special Drawing Right (SDR)”:
1.The World Bank created the SDR as a supplementary international reserve asset in 1969.
2.The SDR is not a currency, but its value is based on a basket of five currencies.
Which of the statements given above is/are correct?