The limit for raising money under borrowings a state government upon the security of its consolidated fund is fixed by: ?->(Show Answer!)

1. The limit for raising money under borrowings a state government upon the security of its consolidated fund is fixed by:

Answer: Legislative assembly.

Reply

Comments

Tags

Show Similar Question And Answers

QA->The limit for raising money under borrowings a state government upon the security of its consolidated fund is fixed by:....

QA->Which Article of the Constitution permits the States to borrow within the territory of India upon the security of the Consolidated Fund of the State?....

QA->No money can be withdrawn for the consolidated fund of a state government until:....

QA->No money shall be withdrawn from the Consolidated Fund of India except:....

QA->Item of expenditure NOT charged on the consolidated fund of the state:....

MCQ-> Read the following passage carefully and answer the questions given below it. Certain words are given in bold to help you answer some of the questions.At the heart of what makes India a better regime than China is a healthy respect for the civil rights and liberties of its citizens. There are checks and balances in our government. But India’s new surveillance programme, the Central Monitoring system (CMS), resembles a dystopian society akin to George Orwell’s 1984.According to several news reports, the CMS gives the government, Indian security agencies and income tax (IT) officials the authority to listen to, and tape phone conversions, read emails and text messages, monitor Posts on Facebook, Twitter or Linkedin and track searches on Google of selected targets, without oversight by the courts or parliament. To call it sweeping is an understatement.Typically, Indian Security agencies need a court order for surveillance, or depend on Internet/telephone service providers for data, provided they supply a warrant. CMS allows the government to bypass the court. Milind Deora, India’s Minister of State for Information Technology says the new system will actually improve citizens’ privacy because telecommunication agencies would no longer be directly involved in the surveillance; only government officials would have these details – missing the point that in a democracy, there has to be freedom from government surveillance. This is hardly comforting in a nation riddled with governmental corruption.India does not have a privacy law. CMS will operate under the Indian Telegraph Act (ITA). The ITA is a relic of the British Raj from 1885, and gives the government the freedom to monitor private conversations. News reports quote anonymous telecommunications ministry officials as saying that CMS has been introduced for security purposes, and “this is to protect you and your country”.That is irrational. For one, there are no ‘security purposes’ that prevent the government from having a rational debate on this programme and getting approval from our elected representatives before authorizing such wide-reaching surveillance. If the government is worried that a public debate in a paralysed parliament would half the programme’s progress, then it can convene a committee of individuals or an individual body such as CAG to oversee the programme. It can seek judicial approval from the Supreme Court, and have a judge sign off on surveillance requests without making these requests public.As of now, the top bureaucrat in the interior ministry and his/her state level deputies will have the power to approve surveillance requests. Even the recently revealed US surveillance Programme, had ‘behind the doors’ bipartisan surveillance approval. Furthermore, US investigation agencies such as the CIA and NSA are not the ruling party’s marionettes; in India, that the CBI is an arm of the government is a fait accompli. Even the Supreme Court recently lambasted the CBI and asked it to guarantee its independence from government influences after it was proved that it shared unreleased investigation reports with the government.There is no guarantee that this top bureaucrat will be judicious or not use this as a tool to pursue political and personal vendettas against opposition parties or open critics of the government. Security purposes hardly justify monitoring an individual’s social media usage. No terrorist announces plans to bomb a building on Facebook. Neither do Maoists espouse Twitter as their preferred form of communication.Presumably, security purposes could be defined as the government’s need to intercept terrorist plans. How does giving the IT department the same sweeping surveillance powers justify security purposes? The IT office already has expansive powers to conduct investigations, summon individuals or company executives, and raid premises to catch tax evaders. In a world where most financial details are discussed and transferred online, allowing the IT departments to snoop on these without any reasonable cause is akin to airport authorities strip searching everyone who boards a flight.What happened on 26/11 or what happens regularly in Naxal – affected areas is extremely sad and should ideally, never take place again. But targeting terrorists means targeting people who show such inclinations, or those who arouse suspicions, either by their travels or heir associations with militant or extremist groups. And in a country where a teenager has been arrested for posting an innocent comment questioning the need for a bandh on the death of a political leader, gives us reason to believe that this law is most likely to be misused, if not abused. Select the word which is MOST OPPOSITE in meaning to the word printed in bold, as used in the passage. AKIN...

MCQ-> Read the following passage carefully and answer the questions given below it. Certain words/phrases have been printed in bold to help you locate them while answering some of the questions. The past quarter of a century has seen several bursts of selling by the world’s governments, mostly but not always in benign market conditions. Those in the OECD, a rich-country club, divested plenty of stuff in the 20 years before the global financial crisis. The first privatisation wave, which built up from the mid-1980s and peaked in 2000, was largely European. The drive to cut state intervention under Margaret Thatcher in Britain soon spread to the continent. The movement gathered pace after 1991, when eastern Europe put thousands of rusting state-owned enterprises (SOEs) on the block. A second wave came in the mid-2000s, as European economies sought to cash in on buoyant markets. But activity in OECD countries slowed sharply as the financial crisis began. In fact, it reversed. Bailouts of failing banks and companies have contributed to a dramatic increase in government purchases of corporate equity during the past five years. A more lasting fea ture is the expansion of the state capitalism practised by China and other emerging economic powers. Governments have actually bought more equity than they have sold in most years since 2007, though sales far exceeded purchases in 2013. Today privatisation is once again “alive and well”, says William Megginson of the Michael Price College of Business at the University of Oklahoma. According to a global tally he recently completed, 2012 was the third-best year ever, and preliminary evidence suggests that 2013 may have been better. However, the geography of sell-offs has changed, with emerging markets now to the fore. China, for instance, has been selling minority stakes in banking, energy, engineering and broadcasting; Brazil is selling airports to help finance a $20 billion investment programme. Eleven of the 20 largest IPOs between 2005 and 2013 were sales of minority stakes by SOEs, mostly in developing countries. By contrast, state-owned assets are now “the forgotten side of the balance-sheet” in many advanced economies, says Dag Detter, managing partner of Whetstone Solutions, an adviser to governments on asset restructuring. They shouldn’t be. Governments of OECD countries still oversee vast piles of assets, from banks and utilities to buildings, land and the riches beneath (see table). Selling some of these holdings could work wonders: reduce debt, finance infrastructure, boost economic efficiency. But governments often barely grasp the value locked up in them. The picture is clearest for companies or company-like entities held by central governments. According to data compiled by the OECD and published on its website, its 34 member countries had 2,111 fully or majority-owned SOEs, with 5.9m employees, at the end of 2012. Their combined value (allowing for some but not all pension-fund liabilities) is estimated at $2.2 trillion, roughly the same size as the global hedge-fund industry. Most are in network industries such as telecoms, electricity and transport. In addition, many countries have large minority stakes in listed firms. Those in which they hold a stake of between 10% and 50% have a combined market value of $890 billion and employ 2.9m people. The data are far from perfect. The quality of reporting varies widely, as do definitions of what counts as a state-owned company: most include only centralgovernment holdings. If all assets held at sub-national level, such as local water companies, were included, the total value could be more than $4 trillion. Reckons Hans Christiansen, an OECD economist. Moreover, his team has had to extrapolate because some QECD members, including America and Japan, provide patchy data. America is apparently so queasy about discussions of public ownership of -commercial assets that the Treasury takes no part in the OECD’s working group on the issue, even though it has vast holdings, from Amtrak and the 520,000-employee Postal Service to power generators and airports. The club’s efforts to calculate the value that SOEs add to, or subtract from, economies were abandoned after several countries, including America, refused to co-operate. Privatisation has begun picking up again recently in the OECD for a variety of reasons. Britain’s Conservative-led coalition is fbcused on (some would say obsessed with) reducing the public debt-to-GDP ratio. Having recently sold the Royal Mail through a public offering, it is hoping to offload other assets, including its stake in URENCO, a uranium enricher, and its student-loan portfolio. From January 8th, under a new Treasury scheme, members of the public and businesses will be allowed to buy government land and buildings on the open market. A website will shortly be set up to help potential buyers see which bits of the government’s /..337 billion-worth of holdings ($527 billion at today’s rate, accounting for 40% of developable sites round Britain) might be surplus. The government, said the chief treasury secretary, Danny Alexander, “should not act as some kind of compulsive hoarder”. Japan has different reasons to revive sell-offs, such as to finance reconstruction after its devastating earthquake and tsunami in 2011. Eyes are once again turning to Japan Post, a giant postal-to-financial-services conglomerate whose oftpostponed partial sale could at last happen in 2015 and raise (Yen) 4 trillion ($40 billion) or more. Australia wants to sell financial, postal and aviation assets to offset the fall in revenues caused by the commodities slowdown. In almost all the countries of Europe, privatisation is likely “to surprise on the upside” as long as markets continue to mend, reckons Mr Megginson. Mr Christiansen expects to see three main areas of activity in coming years. First will be the resumption of partial sell-offs in industries such as telecoms, transport and utilities. Many residual stakes in partly privatised firms could be sold down further. France, for instance, still has hefty stakes in GDF SUEZ, Renault, Thales and Orange. The government of Francois Hollande may be ideologically opposed to privatisation, but it is hoping to reduce industrial stakes to raise funds for livelier sectors, such as broadband and health. The second area of growth should be in eastern Europe, where hundreds of large firms, including manufacturers, remain in state hands. Poland will sell down its stakes in listed firms to make up for an expected reduction in EU structural funds. And the third area is the reprivatisation of financial institutions rescued during the crisis. This process is under way: the largest privatisation in 2012 was the $18 billion offering of America’s residual stake in AIG, an insurance company.Which of the following statements is not true in the context of the given passage ?
...

MCQ-> Read the following passage carefully and answer the questions given below it. Certain words/phrases have been printed in ‘’bold’’ to help you locate them while answering some of the questions.As increasing dependence on information systems develops, the need for such system to be reliable and secure also becomes more essential. As growing numbers of ordinary citizens use computer networks for banking, shopping, etc., network security in potentially a ‘’massive’’ problem. Over the last few years, the need for computer and information security system has become increasingly evident, as web sites are being defaced with greater frequency, more and more denial-of-service attacks are being reported, credit card information is being stolen, there is increased sophistication of hacking tools that are openly available to the public on the Internet, and there is increasing damage being caused by viruses and worms to critical information system resources.At the organizational level, institutional mechanism have to be designed in order to review policies, practices, measures and procedures to review e-security regularly and assess whether these are appropriate to their environment. It would be helpful if organizations share information about threats and vulnerabilities, and implement procedures of rapid and effective cooperation to prevent, detect and respond to security incidents. As new threats and vulnerabilities are continuously discovered there is a strong need for co-operation among organizations and, if necessary, we could also consider cross-border information sharing. We need to understand threats and dangers that could be ‘’vulnerable’’ to and the steps that need to be taken to ‘’mitigate’’ these vulnerabilities. We need to understand access control systems and methodology, telecommunications and network security, and security management practise. We should be well versed in the area of application and systems development security, cryptography, operations security and physical security.The banking sector is ‘’poised’’ for more challenges in the near future. Customers of banks can now look forward to a large array of new offerings by banks, from an ‘’era’’ of mere competition, banks are now cooperating among themselves so that the synergistic benefits are shared among all the players. This would result in the information of shared payment networks (a few shared ATM networks have already been commissioned by banks), offering payment services beyond the existing time zones. The Reserve Bank is also facilitating new projects such as the Multi Application Smart Card Project which, when implemented, would facilitate transfer of funds using electronic means and in a safe and secure manner across the length and breadth of the country, with reduced dependence on paper currency. The opportunities of e-banking or e-power is general need to be harnessed so that banking is available to all customers in such a manner that they would feel most convenient, and if required, without having to visit a branch of a bank. All these will have to be accompanied with a high level of comfort, which again boils down to the issue of e-security.One of the biggest advantages accruing to banks in the future would be the benefits that arise from the introduction of Real Time Gross Settlement (RTGS). Funds management by treasuries of banks would be helped greatly by RTGS. With almost 70 banks having joined the RTGS system, more large value funds transfer are taking place through this system. The implementation of Core Banking solutions by the banks is closely related to RTGS too. Core Banking will make anywhere banking a reality for customers of each bank. while RTGS bridges the need for inter-bank funds movement. Thus, the days of depositing a cheque for collection and a long wait for its realization would soon be a thing of the past for those customers who would opt for electronic movement of funds, using the RTGS system, where the settlement would be on an almost ‘’instantaneous’’ basis. Core Banking is already in vogue in many private sector and foreign banks; while its implementation is at different stages amongst the public sector banks.IT would also facilitate better and more scientific decision-making within banks. Information system now provide decision-makers in banks with a great deal of information which, along with historical data and trend analysis, help in the building up of efficient Management Information Systems. This, in turn, would help in better Asset Liability Management (ALM) which, today’s world of hairline margins is a key requirement for the success of banks in their operational activities. Another benefit which e-banking could provide for relates to Customer Relationship Management (CRM). CRM helps in stratification of customers and evaluating customer needs on a holistic basis which could be paving the way for competitive edge for banks and complete customer care for customer of banks.The content of the passage ‘’mainly’’ emphasizes----
...

MCQ-> Read the passage given below and answer the questions that follow:-Brazil is a top exporter of every commodity that has seen dizzying price surges - iron ore, soybeans, sugar - producing a golden age for economic growth Foreign money-flows into Brazilian stocks and bonds climbed heavenward, up more than tenfold, from $5 billion a year in early 2007 to more than $50 billion in the twelve months through March 2011.The flood of foreign money buying up Brazilian assets has made the currency one of the most expensive in the world, and Brazil one of the most costly, overhyped economies. Almost every major emerging- market currency has strengthened against the dollar over the last decade, but the Brazilian Real is on a path alone, way above the pack, having doubled in value against the dollar.Economists have all kinds of fancy ways to measure the real value of a currency, but when a country is pricing itself this far out of the competition, you can feel it on the ground. In early 2011 the major Rio paper, 0 Globo, ran a story on prices showing that croissants are more expensive than they are in Paris, haircuts cost more than they do in London, bike rentals are more expensive than in Amsterdam, and movie tickets sell for higher prices than in Madrid. A rule of the road: if the local prices in an emerging market country feel expensive even to a visitor from a rich nation, that country is probably not a breakout nation.There is no better example of how absurd it is to lump all the big emerging markets together than the frequent pairing of Brazil and China. Those who make this comparison are referring only to the fact that they are the biggest players in their home regions, not to the way the economies actually run. Brazil is the world‘s leading exporter of many raw materials, and China is the leading importer; that makes them major trade partners - China surpassed the United States as Brazil's leading trade partner in 2009 f but it also makes them opposites in almost every important economic respect: Brazil is the un-China, with interest rates that are too high, and a currency that is too expensive. It spends too little on roads and too much on welfare, and as a result has a very un-China-like growth record.It may not be entirely fair to compare economic growth in Brazil with that of its Asian counterparts, because Brazil has a per capita income of $12,000, more than two times China's and nearly ten times India's. But even taking into account the fact that it is harder for rich nations to grow quickly, Brazil's growth has been disappointing. Since the early 19805 the Brazilian growth rate has oscillated around an average of 2.5 percent, spiking only in concert with increased prices for Brazil's key commodity exports. While China has been criticized for pursuing "growth at any cost," Brazil has sought to secure "stability at any cost." Brazil's caution stems from its history of financial crises, in which overspending produced debt, humiliating defaults, and embarrassing devaluations, culminating in a disaster that is still recent enough to be fresh in every Brazilian adult's memory: the hyperinflation that started in the early 19805 and peaked in 1994, at the vertiginous annual rate of 2,100 percent.Wages were pegged to inflation but were increased at varying intervals in different industries, 50 workers never really knew whether they were making good money or not. As soon as they were paid, they literally ran to the store with cash to buy food, and they could afford little else, causing non-essential industries to start to die. Hyperinflation finally came under control in l995, but it left a problem of regular behind. Brazil has battled inflation ever since by maintaining one of the highest interest rates in the emerging world. Those high rates have attracted a surge of foreign money, which is partly why the Brazilian Real is so expensive relative to comparable currencies.There is a growing recognition that China faces serious "imbalances" that could derail its long economic boom. Obsessed until recently with high growth, China has been pushing too hard to keep its currency too cheap (to help its export industries compete), encouraging excessively high savings and keeping interest rates rock bottom to fund heavy spending on roads and ports. China is only now beginning to consider a shift in spending priorities to create social programs that protect its people from the vicissitudes of old age and unemployment.Brazil’s economy is just as badly out of balance, though in opposite ways. While China has introduced reforms relentlessly for three decades, opening itself up to the world even at the risk of domestic instability, Brazil has pushed reforms only in the most dire circumstances, for example, privatizing state companies when the government budget is near collapse. Fearful of foreign shocks, Brazil is still one of the most closed economies in the emerging world - total imports and exports account for only 15 percent of GDP - despite its status as the world's leading exporter of sugar, orange juice, coffee, poultry, and beef.To pay for its big government, Brazil has jacked up taxes and now has a tax burden that equals 38 percent of GDP, the highest in the emerging world, and very similar to the tax burden in developed European welfare states, such as Norway and France. This heavy load of personal and corporate tax on a relatively poor country means that businesses don’t have the money to invest in new technology or training, which in turn means that industry is not getting more efficient. Between 1986 and 2008 Brazil’s productivity grew at an annual rate of :about 0.2 percent, compared to 4 percent in China. Over the same period, productivity grew in India at close to 3 percent and in South Korea and Thailand at close to 2 percent. According to the passage, the major concern facing the Brazil economy is:
...

MCQ-> Directions : Read the following passage carefully and answer the questions given below it. Following the end of the Second World War, the United Kingdom enjoyed a long period without a major recession (from 1945 - 1973) and a rapid growth in prosperity in the 1959s and 1960s. According to the OECD, the annual rate of growth (percentage change between 1960 and 1973 averaged 2.9%, although this figure was far behind the rates of other European countries such as France, West Germany and Italy. However, following the 1973 oil crisis and the 1973-1974 stock market crash, the British economy fell into recession and the government of Edward Heath was ousted by the Labour Party under Harold Wilson. Wilson formed a minority government on 4 March 1974 after the general election on 28 February ended in a hung parliament. Wilson subsequently secured a three seat majority in a second election in October that year. The UK recorded weaker growth than many other European nations in the 1970s; even after the early 1970s recession ended, the economy was still blighted by rising unemployment and double-digit inflation. In 1976, the UK was forced to request a loan of $ 2.3 billion from the International Monetary Fund. The then Chancellor of the Exchequer Denis Healey was required to implement public spending cuts and other economic reforms in order to secure the loan. Following the Winter of Discontent, the government of James Callaghan lost a vote of no confidence. This triggered the May 1979 general electron which resulted in Margaret Thatcher's Conservative Party forming a new government. A new period of neo-liberal economics began in 1979 with the election of Margaret Thatcher who won the general election on 3 May that year to return the Conservative Party to government after five years of Labour government. During the 1980s most state-owned enterprises were privatised, taxes cut and markets deregulated. GDP fell 5.9 % initially but growth subsequently returned and rose to 5% at its peak in 1988, one of the highest rates of any European nation. The UK economy had been one of the strongest economies in terms of inflation, interest rates and unemployment, all of which remained relatively low until the 2008-09 recession. Unemployment has since reached a peak of just under 2.5 million (7.8 %), the highest level since the early 1990s, although still far lower than some other European nations. However, interest rates have reduced to 0.5 % pa. During August 2008 the IMF warned that the UK economic outlook had worsened due to a twin shock : financial turmoil and rising commodity prices. Both developments harm the UK more than most developed countries, as the UK obtains revenue from exporting financial services while recording deficits in finished goods and commodities, including food. In 2007, the UK had the world's third largest current account deficit, due mainly to a large deficit in manufactured goods. During May 2008, the IMF advised the UK government to broaden the scope of fiscal policy to promote external balance. Although the UK's labour productivity per person employed¡¨ has been progressing well over the last two decades and has overtaken productivity in Germany, it still lags around 20% behind France, where workers have a 35 hour working week. the UK's labour productivity per hour worked is currently on a par with the average for the sold EU (15 countries). In 2010, the United Kingdom ranked 26th on the Human Development Index. The UK entered a recession in Q2 of 2008, according to the Office for National Statics and exited it in Q4 of 2009. The subsequently revised ONS figures show that the UK suffered six consecutive quarters of negative growth, making it the longest recession since records began. As of the end of Q4 2009, revised statistics from the Office for National Statistics demonstrate that the UK economy shrank by 7.2% from peak to trough. The Blue Book 2013 confirms that UK growth in Q2 of 2013 was 0.7 %, and that the volume of output of GDP remains 3.2% below its prerecession peak; The UK economy's recovery has thus been more lackluster than previously thought. Furthermore The Blue Book 2013 demonstrates that the UK experienced a deeper initial downturn than all of the G7 economies save for Japan, and has experienced a slower recovery than all but Italy. A report released by the Office of National Statistics on 14 May 2013 revealed that over the six-year period between 2005 and 2011, the UK dropped from 5th place to 12th place in terms of household income on an international scale ¡X the drop was partially attrib10 uted to the devaluation of sterling over this time frame. However, the report also concluded that, during this period, inflation was relatively less volatile, the UK labour market was more resilient in comparison to other recessions, and household spending and wealth in the UK remained relatively strong in comparison with other OECD countries. According to a report by Moody's Corporation, Britain's debt-to-GDP ratio continues to increase in 2013 and is expected to reach 93% at the end of the year. The UK has lost its triple. A credit rating on the basis of poor economic outlook. 2013 Economic Growth has surprised many Economists, Ministers and the OBR in the 2013 budget projected annual growth of just 0.6 %. In 2013 Q1 the economy grew by 0.4 % Q2 the economy grew by 0.7 % and Q3 the economy is predicted to have grown at 0.8%.A new period of neo-liberal economics began in United Kingdom with the election of Margaret Thatcher after five years of Labour government. Margaret Thatcher came in power in
...