Hadoti Kshetriya Gramin Bank Clerk Exam., 2010 Solved Paper

English Language
(Exam Held on 12-12-2010)

Directions—(Q. 1 to 15) Read the following passage carefully and answer the questions given below it. Certain words/phrases have been printed in bold to help you to locate them while answering some of the questions.

Once upon a time, there was a royal elephant which used to reside in the premises of the king's palace. The elephant was very dear to the king, so he was well-fed and welltreated. There was also a Dog who lived near the Elephant's shed. He was very weak and skinny. He was always fascinated by the smell of rich sweet rice being fed to the royal elephant.

One day, the Dog could no longer resist the aroma of the rice and somehow managed to sneak into the Elephant's shed. He ate the grains of sweet rice that fell from the Elephant's mouth. He liked the rice so much, that he started going there daily to eat the rice. For days, the huge Elephant didn't notice the small dog as he was busy enjoying the delicious food. Gradually, the Dog grew bigger and stronger, eating such rich food. Finally, the Elephant noticed him and allowed him access to the food.

The Elephant enjoyed the company of the Dog and started sharing his food with him. They also started spending time with each other and soon became good friends. They ate together, slept together and played together. While playing, the Elephant would hold the Dog, in his trunk and swing him back and forth. Soon neither of them was happy without the other. They became great friends and didn't want to be separated from each other.

Then one day, a man saw the Dog and asked the Elephant-keeper, “I want to buy this Dog. What price do you want for it ?” The Elephantkeeper didn't own the Dog, but sold it and extracted a sum of money from this deal. The man took the Dog to his home village, which was quite far away. The King's Elephant became very sad after this incident. He missed his friend a lot and started neglecting everything. He didn't want to do anything without his dear friend, so he stopped eating, drinking and even bathing.

Finally, the Elephant-keeper reported this to the King; however he didn't mention anything about the Dog. The King had a wise minister, who was known for his keen understanding of animals. The King ordered the minister, “Go to the Elephant’s shed and find out the reason for the Elephant's condition”. The intelligent minister went to the Elephant shed and found the Elephant very sad. He examined the Elephant and asked the Elephant-keeper, “There is nothing wrong with this Elephant's body, then why does he look so sad ? I think this Elephant is grief stricken, possibly due to the loss of a dear friend. Do you know, if this Elephant shared a close friendship with anyone ?”

The Elephant-keeper said, “There was a Dog who used to eat, sleep and play with the Elephant. He was taken by a stranger three days ago”. The minister went back to the King and said, “Your majesty, in my opinion, the royal Elephant is not sick, but he is lonesome without his dear friend, the Dog”. The King said, “You're right, friendship is one of the most wonderful things of life. Do you know where that Dog is ?”

The Minister replied, “Elephantkeeper has informed me that a stranger took him away and he doesn't know his whereabouts”. The King asked, “How can we bring back my Elephant's friend and make him happy again ?” The Minister suggested, “Your Majesty, make a declaration, that whoever has the dog that used to live at the royal Elephant's shed, will be penalized”. The King did the same and the man who had taken the dog, instantly turned him loose when he heard the proclamation.

As soon as he was freed, the Dog ran back as fast as he could, to the Elephant's shed. The Elephant was so delighted to see the Dog that he picked his friend up with his trunk and swung him back and forth. The Dog wagged his tail, while the Elephant's eyes sparkled with happiness. The King was content to see the Elephant happy once again and rewarded the minister for his wise judgement.

1. What was the Minister's diagnosis of the Elephant's condition ?
(A) The Elephant hated his keeper
(B) The Elephant was lonely
(C) The Elephant was starving
(D) The Elephant had hurt his leg and was in pain
(E) None of these
Ans : (B)

2. What method did the Minister suggest to the King, to get back the Dog ?
(A) To declare that whoever had that particular Dog, would be punished
(B) To keep a bowl of rice for the Dog in the Elephant's shed so that he could be lured back to the palace
(C) To command the Elephantkeeper to look for the Dog in the village
(D) To persuade the Elephant to call out to the Dog
(E) None of these
Ans : (E)

3. Why had the Elephant become very sad ?
(A) He no longer got his daily bowl of rice
(B) He was unhappy with the King for having sold the Dog
(C) He missed his friend–the Dog
(D) He was sold to an unknown man by his keeper
(E) None of these
Ans : (C)


4. What did the Elephant-keeper do to the Dog ?
(A) He sold the Dog to an unknown man for a price
(B) He hit the Dog as the Dog was eating the Elephant's food
(C) He killed the Dog
(D) He complained to the King about the Dog
(E) None of these
Ans : (A)

5. Which of the following would be the most appropriate title for the passage ?
(A) Friends and Enemies
(B) The Playful Dog
(C) The King and the Minister
(D) The Elephant-keeper
(E) The Bond of Friendship
Ans : (E)

6. Why was the Elephant taken care of ?
(A) He was a very special Elephant as he could talk to Dogs
(B) He was a very loyal Elephant
(C) He was the strongest Elephant in the Kingdom
(D) He was weak and the King had a lot of sympathy for him
(E) None of these
Ans : (E)

7. Why did the Dog start going to the Elephant's shed everyday ?
(A) He liked the Elephant a lot and wanted to become friend with him
(B) He was being fed by the King everyday
(C) He was fond of the Elephant's shed
(D) He liked the taste of the rice being fed to the Elephant
(E) None of these
Ans : (D)

8. What did the Dog do, once he was set free ?
(A) He ate rice to his heart's content
(B) He thanked the King for his kindness
(C) He ran away from the Kingdom to a place faraway
(D) He ran back to his friend–the Elephant
(E) None of these
Ans : (D)

9. What of the following can definitely be said about the Elephant-keeper ?
1. He was greedy.
2. He was insensitive.
3. He was brave.
(A) Only 1
(B) Only 2
(C) Only 1 and 2
(D) Only 2 and 3
(E) All 1, 2 and 3
Ans : (A)

10. Which of the following can definitely be said about the King ?
1. He was compassionate.
2. He was deceitful.
3. He loved animals.
(A) Only 1
(B) Only 1 and 3
(C) Only 1 and 2
(D) Only 2
(E) All the three 1, 2 and 3
Ans : (B)

Directions—(Q. 11 to 13) Choose the word/group of words which is most similar in meaning to the word/group of words printed in bold as used in the passage.

11. EXTRACTED(A) pulled
(B) inserted
(C) wring
(D) dug out
(E) received
Ans : (E)

12. DECLARATION(A) pact
(B) praise
(C) announcement
(D) writ
(E) resolve
Ans : (C)

13. KEEN
(A) shallow
(B) urgent
(C) concentrated
(D) deep
(E) eager
Ans : (D)

Directions—(Q. 14 and 15) Choose the word/group of words which is most opposite in meaning to the word/group of words printed in bold as used in the passage.

14. RESIST
(A) give in
(B) please
(C) struggle
(D) try out
(E) defy
Ans : (B)

15. SEPARATED
(A) stuck
(B) united
(C) estranged
(D) bound
(E) joined
Ans : (E)

Directions—(Q. 16 to 20) Which of the phrases (A), (B), (C) and (D) given below each sentence, should replace the phrase printed in bold in the sentence to make it grammatically correct ? If the sentence is correct as it is given and ‘No correction is required’, mark (E) as the answer.

16. Trisha could not solve the problem at all and was at her wit's ending.
(A) her wit's end
(B) the wit ends
(C) her witty end
(D) the wit end
(E) No correction required
Ans : (A)

17. It's a small theatre and the seats are uncomfortable, but the saving grace is that the air conditioning is good.
(A) grace to save
(B) gracing save
(C) saver grace
(D) save to grace
(E) No correction required
Ans : (E)

18. Tarun had to prepare the document for his meeting urgently but he was hardly pressed for time.(A) hard pressed for timely
(B) hard pressed for time
(C) hardly press to time
(D) hard pressing to timely
(E) No correction required
Ans : (B)

19. Suraj lied from his teeth to get out of the tense situation with his boss.
(A) lies for his teeth
(B) lie to his teeth
(C) lied through his teeth
(D) lied from his tooth
(E) No correction required
Ans : (C)

20. Satish lay in bed wide awaken as he was worried about his exams starting the next day.
(A) widen awakening
(B) widely awake
(C) wide and awake
(D) wide awake
(E) No correction required
Ans : (D)

Directions—(Q. 21 to 25) In each question below, a sentence with four words printed in bold type is given. These are lettered as (A), (B), (C) and (D), One of these four words printed in bold may be either wrongly spelt or inappropriate in the context of the sentence. Find out the word which is wrongly spelt or inappropriate, if any. The letter of that word is your answer. If all the words printed in bold are correctly spelt and also appropriate in the context of the sentence, mark (E) i.e., ‘All Correct’ as your answer.

21. People went crazy (A) when the musician along with his friend, (B) took to the staging (C) and belted out popular (D) tracks. All correct (E)
Ans : (C)

22. For a growing number of coupals, (A) adoption is not a helpless compulsion (B) but a deliberate, (C) and often noble, (D) choice. All correct (E)
Ans : (A)

23. On two consecutive (A) nights, the two greatest icones (B) of show business were honoured with unprecedented (C) affection. (D) All correct (E)
Ans : (B)

24. We are so busy looking at mediocrity (A) that when a truly outstanding achievement (B) stares us in the face, we resort (C) to the same terms of praise. (D) All correct (E)
Ans : (E)

25. The unlikely migration (A) was officially (B) explained as a move to meet expanding (C) business oportunities. (D) All correct (E)
Ans : (D)

Directions—(Q. 26 to 30) Rearrange the following six sentences (1), (2), (3), (4), (5) and (6) in the proper sequence to form a meaningful paragraph; then answer the questions given below them.
1. He immediately acknowledged Mohan's good work and invited him to his home for dinner.
2. One day a wealthy merchant sent his son's bicycle to the shop for repair.
3. The next day the merchant came to claim the bicycle and noticed that it was shiny.
4. After repairing the bicycle, Mohan cleaned it up and made it look new.
5. Once upon a time, there was a boy named Mohan who worked as an apprentice in a bicycle shop.
6. Other apprentices in the shop laughed at Mohan for doing unnecessary work.

26. Which of the following should be the SECOND sentence after rearrangement ?
(A) 1
(B) 2
(C) 3
(D) 4
(E) 6
Ans : (B)

27. Which of the following should be the THIRD sentence after rearrangement ?
(A) 1
(B) 2
(C) 3
(D) 4
(E) 5
Ans : (D)

28. Which of the following should be the FIRST sentence after rearrangement ?
(A) 1
(B) 2
(C) 3
(D) 4
(E) 5
Ans : (E)

29. Which of the following should be the LAST (SIXTH) sentence after rearrangement ?
(A) 1
(B) 2
(C) 4
(D) 5
(E) 6
Ans : (A)

30. Which of the following should be the FOURTH sentence after rearrangement ?
(A) 2
(B) 3
(C) 4
(D) 5
(E) 6
Ans : (E)

Directions—(Q. 31 to 40) Read each sentence to find out whether there is any grammatical error or idiomatic error in it. The error, if any, will be in one part of the sentence. The letter of that part is the answer. If there is ‘No error’, the answer is (E). (Ignore errors of punctuation, if any.)

31. In about five minutes, they would (A) / cover the distance from the road to the point (B) / where the waves would (C) / begin lick their feet. (D) No error (E)
Ans : (E)

32. The devastating experiences (A) / of many wars taught some countries (B) / the necessary of pursuing peace (C) / at the expense of nationalist egos. (D) No error (E)
Ans : (C)

33. The former superstar recently (A) / visit an orphanage, (B) / fuelling speculation that (C) / she is planning to adopt a child. (D) No error (E)
Ans : (B)

34. According to a new study (A) / taking steps to remain healthy and young (B) / may help delay (C) / the onset of Alzheimer's disease. (D) No error (E)
Ans : (A)

35. A day after he was diagnosed with (A) / swine flu, preventive measures were put in place (B) / to ensure that others were not (C) / affected by the dreaded virus. (D) No error (E)
Ans : (E)

36. The administration has conclusive (A) / that it is retailers who are (B) / responsible for upsetting (C) / the city's household budget. (D) No error (E)
Ans : (A)

37. The assurances, unfortunately, (A) / remained on paper, (B) / as neither the Centre or the State initiated steps (C) / for the development of the backward region. (D) No error (E)
Ans : (C)

38. Sediment deposit along the coast (A) / may be the primary reason for (B) / the change in conditions, (C) / but a lot more remains to be understand. (D) No error (E)
Ans : (D)

39. A committee will be set up (A) / to explore pros and cons by (B) / a common fee structure, and will (C) / take a final decision on it within a week. (D) No error (E)
Ans : (A)

40. The infection which causes (A) / gums to bleed and teeth to fall out (B) / results from the build-up of (C) / a particular bacteria that is common to most mouths. (D) No error (E)
Ans : (D)

Directions—(Q. 41 to 50) In the following passage there are blanks, each of which has been numbered. These numbers are printed below the passage and against each, five words are suggested, one of which fits the blank appropriately. Find out the appropriate word in each case.

Once upon a time there was a prince who wanted to marry a princess, but she would have to be a real princess. He …(41)… all over the world to find one, but nowhere could he get what he wanted. One evening during a terrible storm; there was thunder and lightning, and the rain poured down in torrents. Suddenly a knocking was …(42)… at the palace door, and the old king went to open it. It was a princess standing out there. But good gracious ! What a sight the rain and the wind had made her look. The water ran down her hair and clothes; into the toes of her shoes and out again at the heels. And yet she insisted that she was a real princess. Well, we'll soon …(43)… out, thought the old queen. But she said nothing, went into the bedroom, took all the bedding off the bedstead, and …(44)… a pea on the bottom; then she took twenty mattresses and laid them on the pea, and then twenty quilts on …(45)… of the mattresses. On this the princess had to lie all night. In the …(46)… she was asked how she had slept. “Oh, very badly!” said she. “I scarcely closed my eyes all night. Heaven only knows what was in the bed, but I was lying on something hard, as a …(47)… I am black and blue all over my body. It's horrible!” Now they knew that she was a real princess because she had …(48)… the pea right through the twenty mattresses and the twenty quilts. Nobody but a real princess could be as …(49)… as that. So the prince took her for his wife, for now he …(50)… that he had a real princess.

41. (A) called
(B) tour
(C) sent
(D) saw
(E) travelled
Ans : (E)

42. (A) made
(B) felt
(C) heard
(D) seen
(E) sounded
Ans : (C)

43. (A) assure
(B) find
(C) judge
(D) mark
(E) try
Ans : (B)

44. (A) drew
(B) flung
(C) placed
(D) cooked
(E) stitch
Ans : (C)

45. (A) top
(B) head
(C) bottom
(D) between
(E) middle
Ans : (A)

46. (A) morning
(B) dinner
(C) room
(D) fields
(E) dark
Ans : (A)

47. (A) vengeance
(B) price
(C) cause
(D) result
(E) time
Ans : (D)

48. (A) slept
(B) felt
(C) located
(D) carried
(E) found
Ans : (B)

49. (A) worried
(B) rough
(C) irritable
(D) sensitive
(E) pretty
Ans : (D)

50. (A) trust
(B) assured
(C) wanted
(D) think
(E) knew
Ans : (E)

INDIAN ECONOMY MULTIPLE CHOICE QUESTIONS

1. The number of products reserved for small scale industry till October 2008 is—
(A) 35
(B) 21
(C) 81
(D) 106
Ans : (B)

2. From 2nd November, 2010, the Repo Rate has been fixed at—
(A) 3•5%
(B) 5•5%
(C) 4•5%
(D) 6•25%
Ans : (D)

3. The target company of making ‘Cell phone’ in the world is—
(A) Samsung
(B) Panasonic
(C) Nokia
(D) Motorola
Ans : (C)


4. For 2010-11, the CSO has predicted India’s GDP growth at—
(A) below 7%
(B) 8•6%
(C) 8•5%
(D) 9•5%
Ans : (B)

5. Which Indian city has the highest population?
(A) Kolkata
(B) New Delhi
(C) Chennai
(D) Mumbai
Ans : (D)

6. National Sample Survey Organisation (NSSO) was established in—
(A) 1950
(B) 1951
(C) 1952
(D) 1947
Ans : (A)

7. Which of the following Indian company has been listed at the top in Forbes-2000 list ?
(A) RIL
(B) ONGC
(C) IOL
(D) NTPC
Ans : (A)

8. Which state stands first in the length of roads in the country ?
(A) U. P.
(B) M. P.
(C) Maharashtra
(D) Rajasthan
Ans : (C)

9. On November 2, 2010 the Reserve Bank of India has fixed Reverse Repo Rate at—
(A) 6•25%
(B) 4•25%
(C) 5•0%
(D) 5•25%
Ans : (D)

10. Total receipts from service tax during 2011-12 has been estimated at—
(A) Rs. 58000 crore
(B) Rs. 82000 crore
(C) Rs. 78000 crore
(D) Rs. 88000 crore
Ans : (B)

11. From November 7, 2009, the SLR has been fixed at—
(A) 24%
(B) 26%
(C) 25•5%
(D) 25%
Ans : (D)

12. What minimum support price (per quintal) for the rabi 2010-11. Wheat to be marketed during 2011-12 marketing season has been fixed by the Government ?
(A) Rs. 1080
(B) Rs. 1100
(C) Rs. 1120
(D) Rs. 1180
Ans : (C)

13. On 14 January, 2011 the amount of foreign exchange reserves with RBI was—
(A) $ 183 billion
(B) $ 213 billion
(C) $ 233 billion
(D) $ 268 billion
Ans : (D)

14. Three nationalised public sector banks have joined hands with India Infrastructure Finance Co. Ltd. (IIFCL) for funding large infrastructure funds. The bank not including in this race is—
(A) Canara Bank
(B) Punjab National Bank
(C) Syndicate Bank
(D) Vijaya Bank
Ans : (B)

15. When was Focus Market Scheme introduced ?
(A) 2003-04
(B) 2004-05
(C) 2005-06
(D) 2006-07
Ans : (D)

16. The government has purchased the Reserve Bank of India’s ……… per cent stake in the country’s largest bank, the State Bank of India.
(A) 56•73
(B) 59•73
(C) 61•27
(D) 69•73
Ans : (B)

17. CENVAT is associated with—
(A) Direct Tax
(B) Income Tax
(C) Indirect Tax
(D) Service Tax
Ans : (C)

18. Which of the following occupied the highest place in growth rate during the 10th Plan period 2002-2007 ?
(A) Agricultural Sector
(B) Service Sector
(C) Industrial Sector
(D) Mining
Ans : (B)

19. As per the latest estimates of Petroleum Ministry. India’s refining capacity will be increased to …… million tonne per annum by the end of coming 11th plan, i.e., 2011-12.
(A) 210
(B) 220
(C) 230
(D) 240
Ans : (D)

20. Which one has become the 8th member of SAARC ?
(A) China
(B) Afghanistan
(C) Mauritius
(D) Myanmar
Ans : (B)

21. Agriculture sector registered 1•6% growth in 2008-09 and it is estimated for year 2010-11 at—
(A) 4•00%
(B) 4•30%
(C) 5•4%
(D) 3•61%
Ans : (C)

22. After merger, Tata-Corus has become the …… largest steel producer in the World.
(A) 3rd
(B) 4th
(C) 5th
(D) 6th
Ans : (C)

23. Nirmal Bharat Abhiyan Yojana is associated with—
(A) The development of Bihar
(B) Community toilets in slum areas
(C) Construction of houses for low income groups
(D) None of the above
Ans : (B)


24. The estimated World Gross Product for 2010 as declared by the recent report of UNO is—
(A) US $ 95•1 Trillion
(B) US $ 62•22 Trillion
(C) US $ 112•0 Trillion
(D) US $ 118•2 Trillion
Ans : (B)

25. “Pure Banking, Nothing Else” is a slogan raised by—
(A) ICICI Bank
(B) HDFC Bank
(C) SBI
(D) UTI Bank
Ans : (C)

26. “Smart Money” is a term used for—
(A) Internet Banking
(B) Credit Card
(C) Cash with Bank
(D) Cash with Public
Ans : (B)

27. Which one of the following stands at first rank in the list of top 10 steel producers in the world ?
(A) Nippon Steels
(B) Tata-Corus
(C) Arcelor-Mittal
(D) Bao Steel
Ans : (C)

28. Which of the following country has decided not to print its king’s photo on national currency ?
(A) Nepal
(B) Japan
(C) Denmark
(D) None of the above
Ans : (A)

29. The rate of Gross Domestic Savings for the 11th Plan as percentage of GDP is fixed at—
(A) 36•7%
(B) 34•8%
(C) 35•8%
(D) 33•8%
Ans : (B)

30. Who is the present (Nobember 2010) Director of Central Bureau Investigation ?
(A) Jyoti Krishna Dutt
(B) Kiran Mazumdar
(C) Amar Pratap Singh
(D) Arun Balkrishnan
Ans : (C)

31. Oil Refinery at Bhatinda is being established by—
(A) IOC
(B) HPCL
(C) Reliance
(D) BPCL
Ans : (B)

32. The maximum limit of Foreign Direct Investment (FDI) in public sector banking is—
(A) 51%
(B) 50%
(C) 33%
(D) 49%
Ans : (D)

33. Which of the following plan is meant for constructing houses for rural people ?
(A) Indra Avas Yojana
(B) Ambedkar Avas Yojana
(C) PURA
(D) None of the above
Ans : (A)

34. Recently foundation stone of a new rail coach making factory has been laid at—
(A) Saharsa
(B) Rae Bareli
(C) Amethi
(D) Amritsar
Ans : (B)

35. As per the declaration made in Railway Budget 2011-12, how many new Duranto Trains are to be introduced in 2011-12 ?
(A) 15
(B) 12
(C) 11
(D) 9
Ans : (D)

36. As per quick estimate for 2009-010 what is the gross domestic savings (GDS) at market price?
(A) 30•5% of GDP
(B) 33•7% of GDP
(C) 35•5% of GDP
(D) 37•5% of GDP
Ans : (B)

37. Per capita income at factor cost at constant prices (2004-05) for 2009-10 (Revised Estimates) stands at—
(A) Rs. 22580
(B) Rs. 24295
(C) Rs. 38084
(D) Rs. 33731
Ans : (D)

38. As per the latest data released by CSO, what share Indian Agriculture accounts in country’s GDP during 2009-10 ?
(A) 17•1%
(B) 17•6%
(C) 14•1%
(D) 26•6%
Ans : (C)

39. For 11th plan period 2007–2012 savings rate has been targeted at—
(A) 30.8%
(B) 31.6%
(C) 34.8%
(D) 33.6%
Ans : (C)

40. According to Small and Medium Enterprise Development Act, the maximum limit for medium enterprise is—
(A) Rs. 25 lakhs
(B) Rs. 1 crore
(C) Rs. 5 crore
(D) Rs. 10 crore
Ans : (D)

41. Recently, Ministry of Human Resource Development developed a new index termed as ‘Educational Development Index’ (EDI) related to primary and upper primary education.
The state at the top of this index is—
(A) Delhi
(B) Kerala
(C) Tamil Nadu
(D) Andhra Pradesh
Ans : (B)

42. India’s mobile market has been ranked at the……largest market of the world.
(A) Second
(B) Third
(C) Fourth
(D) Fifth
Ans : (B)

43. In 2010-11, contribution of service sector in country’s GDP is estimated at about—
(A) 48•6%
(B) 50•6%
(C) 57•3%
(D) 52•6%
Ans : (C)


44. Hutch-Essar has recently been acquired by—
(A) Bharti Airtel
(B) Vodafone
(C) Reliance
(D) Tata Mobile
Ans : (B)

45. In 2010-11 budget, the allocation for National Ganga River Basin Authority has been—
(A) Rs. 100 crore
(B) Rs. 200 crore
(C) Rs. 400 crore
(D) Rs. 500 crore
Ans : (D)

46. The tax-GDP ratio in 2010-11 is estimated at—
(A) 10•12%
(B) 10•38%
(C) 12•3%
(D) 11•98%
Ans : (B)

47. In 2011-12, the maximum limit of custom duty is proposed as—
(A) 11%
(B) 10%
(C) 9%
(D) 8%
Ans : (B)

48. In Human Development Report 2010, India has HDI ranking at—
(A) 126th
(B) 119th
(C) 127th
(D) 129th
Ans : (B)

49. As per the latest available data, in September 2010, India’s total external debt stood at—
(A) $ 122•610 billion
(B) $ 192•610 billion
(C) $ 295•8 billion
(D) $ 233•610 billion
Ans : (C)

50. In New Direct Tax Code for senior citizens, income tax exemption slab has been raised to—
(A) Rs. 2•00 lakh
(B) Rs. 2•00 lakh
(C) Rs. 2•50 lakh
(D) Rs. 3•00 lakh
Ans : (C)

51. Now the latest CRR as declared by RBI w.e.f. April 24, 2010 is—
(A) 6•0%
(B) 5•5%
(C) 5•75%
(D) 6•5%
Ans : (A)

52. As per revised estimates for 2010-11 released by CSO, the growth rate for Indian economy has been estimated to be—
(A) 9•5%
(B) 8•6%
(C) 9•8%
(D) 6•7%
Ans : (B)

53. US-based “Novelis” has recently been acquired by—
(A) Tata Group
(B) Birla Group
(C) Reliance Group
(D) Jointly by Tata and Birla Group
Ans : (B)

54. When was RBI nationalised ?
(A) 1st April, 1935
(B) 1st January, 1949
(C) 1st January, 1935
(D) 1st July, 1969
Ans : (B)

55. According to the latest data published in World Trade Statistics of WTO. India’s share in world trade of goods and services in 2006 was—
(A) 1•0%
(B) 1•1%
(C) 1•2%
(D) 1•5%
Ans : (C)

56. As per quick estimates for the year 2010-11, Indian economy’s GDP at factor cost (at current prices) stood at—
(A) Rs. 3790063 crore
(B) Rs. 4713000 crore
(C) Rs. 4879232 crore
(D) Rs. 6426277 crore
Ans : (C)

57. What is the theme of World Development Report 2010 ?
(A) Poverty and Next Generation
(B) The Real Wealth of Nations : Path Ways to Human Development
(C) Incidence of Rural Poverty
(D) Development and the Next Generation
Ans : (B)

58. How many banks are there in public sector at present ?
(A) 28
(B) 27
(C) 19
(D) 20
Ans : (B)

59. What is the national minimum wage rate fixed under minimum wage legislation on November 2009 ?
(A) Rs. 56
(B) Rs. 60
(C) Rs. 100
(D) Rs. 76
Ans : (C)

60. For attaining 9% growth rate during 11th plan, investment level has been estimated to be—
(A) 31•4% of GDP
(B) 34•8% of GDP
(C) 38•7% of GDP
(D) 36•7% of GDP
Ans : (D)

61. Indian Rupee has got its symbol as This symbol has been designed by—
(A) D. Kumar Raju
(B) Udai D. Raj
(C) D. Udai Kumar
(D) D. Udai Reddy
Ans : (C)

62. Primary gold is a gold of—
(A) 20 carat
(B) 22 carat
(C) 23 carat
(D) 24 carat
Ans : (D)

63. First share market in India was established in—
(A) Delhi
(B) Kolkata
(C) Chennai
(D) Mumbai
Ans : (D)


64. ‘Aam Admi Bima Yojana’ is an insurance scheme for rural landless households executed by the nodal agency—
(A) National Insurance Co.
(B) State Government
(C) LIC
(D) Central Government
Ans : (B)

65. Revenue Deficit as a per cent of GDP in Budget 2011-12 has been estimated at—
(A) 4•2%
(B) 6•8%
(C) 6•0%
(D) 4•6%
Ans : (D)

66. GST would be introduced from—
(A) January 1, 2012
(B) August 1, 2011
(C) April 1, 2012
(D) August 15, 2011
Ans : (C)

67. The rate of Minimum Alternate Tax (MAT) proposed in the budget 2011-12 is—
(A) 15%
(B) 18•5%
(C) 20%
(D) 22%
Ans : (B)

68. Which of the following is not a financial regulator ?
(A) IRDA
(B) AMFI
(C) PFRDA
(D) SEBI
Ans : (B)

69. Inflation in India is measured on which of the following indexes/indicators ?
(A) Cost of Living Index
(B) Consumer Price Index
(C) Wholesale Price Index
(D) Gross Domestic Product
Ans : (C)

70. As per 13th Finance Commission Recommendations during 2010-15, transfers to the states from the central tax pool are expected to be—
(A) Rs. 44000 crore
(B) Rs. 164832 crore
(C) Rs. 318581 crore
(D) Rs. 107552 crore
Ans : (C)

71. From which of the following taxes, the Central Government will get the maximum revenue in 2011-12 ?
(A) Custom Duties
(B) Income Tax
(C) Excise Duties
(D) Corporation Tax
Ans : (D)

72. How many economists shared Nobel Prize in Economics for the year 2010 ?
(A) 01
(B) 02
(C) 03
(D) 04
Ans : (C)

73. The target for exports in 2013-14 has been fixed at—
(A) $ 300 billion
(B) $ 275 billion
(C) $ 250 billion
(D) $ 450 billion
Ans : (D)

74. Global Hunger Index released by IFPRI in October 2010 places India at—
(A) 58th rank
(B) 64th rank
(C) 67th rank
(D) 74th rank
Ans : (C)

75. When was the first EPZ set-up in Kandla ?
(A) 1965
(B) 1970
(C) 1975
(D) 1995
Ans : (A)

76. For rural development allocation Union Budget 2011-12 is—
(A) Rs. 16,000 crore
(B) Rs. 46,000 crore
(C) Rs. 56,000 crore
(D) Rs. 87,800 crore
Ans : (D)

77. What is true for the service tax in Union Budget 2011-12 ?
(A) It is raised from 10 to 12%
(B) It is left unchanged at 11%
(C) It is left unchanged at 10%
(D) It is reduced from 14% to 12%
Ans : (C)

78. Which part of Indian rupee has been allotted in public expenditure for repaying interest on loans in 2011-12 budget proposals ?
(A) 18 Paise
(B) 21 Paise
(C) 22 Paise
(D) 23 Paise
Ans : (A)

79. In Forbes-2000 list of the year 2010 how many Indian companies got the place ?
(A) 16
(B) 56
(C) 37
(D) 27
Ans : (B)

80. As per the latest data available (for the year 2009). Infant Mortality Rate (per thousand live births) in India is—
(A) 72
(B) 68
(C) 60
(D) 50
Ans : (D)

FORTHCOMING EXAM DATES

March
● Junior Engineer (Civil & Electrical) Exam., 2011 (March 27)
● United India Insurance Company Ltd. Administrative Officer (Scale-I) Exam., 2011 (March 27)
● Indian Navy Senior Secondary Recruitment Exam. (March-April)
April
● C.B.S.E. All India Pre-Medical and Pre-Dental Entrance Exam., 2011 (April 3)
● Kendriya Vidyalaya Sangathan Post Graduate Teacher (Mains) Exam. (April 8)
● Kendriya Vidyalaya Sangathan TGT and Librarian, Primary Teacher (Mains) Exam. (April 9)
● I.I.T. Joint Entrance Exam., 2011 (April 10)
● Ballia-Etawah Kshetriya Gramin Bank Officers Recruitment Exam. (April 10)
● Uttaranchal Gramin Bank Office Assistant Exam. (April 10)
● M.P. Pre-Polytecnic Test, 2011 (April 10) (Online Closing Date : 22 March, 2011)
● Bank of Baroda Clerical Cadre Exam. (April 17)
● Uttaranchal Gramin Bank Officer Cadre Exam. (April 17)
● Ballia-Etawah Kshetriya Gramin Bank Office Assistants Exam. (April 17)
● Allahabad Bank Probationary Officers Recruitment Exam. (April 17)
● Prathama Bank Office Assistant Exam. (April 24)
● Wainganga Krishna Gramin Bank Office Assistant (Multipurpose) Exam. (April 24)
● Jawahar Navodaya Vidyalaya Entrance Exam. (Class VI) (April)
● Rajasthan Sub-Inspector Police Combined Competitive Exam., 2010 (April/May)
May
● C.B.S.E. All India Engineering Entrance Exam. (AIEEE) (May 1)
● S.S.C. Indo-Tibetan Border Police Force (ITBPF) Constables (G.D.) Recruitment Exam. (May 1)
● S.S.C. Assam Rifles Rifleman (General Duty) Recruitment Exam. (May 1)
● U.P. Polytechnic Joint Entrance Exam., 2011 (May 8-10)
● Prathama Bank Officer Junior Management Scale-I Exam. (May 8)
● Andhra Bank Probationary Officers Recruitment Exam. (May 8)
● Wainganga Krishna Gramin Bank Officer (Scale-I) Exam. (May 8)
● Allahabad Bank Clerical Cadre Recruitment Exam., 2011-12 (May 8) (Online Closing Date : 15 March, 2011)
● Himachal Pradesh Judicial Service Competitive (Pre.) Exam., 2011 (May 8)
● Jawahar Navodaya Vidyalaya Entrance Exam. (Class IX) (May 9)
● C.B.S.E. All India Pre-Medical and Pre-Dental (Mains) Exam., 2011 (May 15)
● Gurgaon Gramin Bank Office Assistant Group ‘B’ Exam. (May 15)
● Andhra Bank Clerical Cadre Exam. (May 15)
● Syndicate Bank Asstt. Manager Rural Development (AMRD) in JMGS-I Exam., 2011-12 (May 15)
● Common Law Admission Test (CLAT), 2011 (May 15) (Closing Date : 2 April, 2011)
● Gurgaon Gramin Bank Officer JMG Scale-I Group ‘A’ Exam. (May 18)
● Haryana Gramin Bank Office Assistant Examination (May 22)
● Jhabua-Dhar Kshetriya Gramin Bank Clerk-cum-Cashier (Office Assistant) Exam. (May 22)
● Indian Overseas Bank Probationary Officers Recruitment Exam. (May 22)
● I.E.R.T. Entrance Exam., 2011 (Allahabad) (Engg./ Technology Diploma Course) (May 24) (Closing Date : 19 April, 2011)
● Jhabua-Dhar Kshetriya Gramin Bank Officer (Scale-I) Exam. (May 29)
● Haryana Gramin Bank Officer Junior Management (Scale-I) Examination (May 29)
● Indian Overseas Bank Clerk Exam. (May 29) (Online Closing Date : 25 March, 2011)
June
● S.S.C. Central Police Organisation Constable Recruitment Exam. (B.S.F., C.I.S.F., C.R.P.F. & S.S.B.)

(June 5)
● U.P.S.C. Civil Services Preliminary Exam, 2011 (June 12) (Closing Date : 21 March, 2011)

The New India Assurance Company Limited A.O. RECRUITMENT

The New India Assurance Company Limited (NIACL)
(A Government of India Undertaking)
87, M.G.Road, Fort, Mumbai-400001

Applications are invited from Indian Citizens for following posts of Administrative Officer Scale-I in Specialised disciplines and and Generalists Cadre :

• Administrative Officer Probationary Scale-I : 379 posts (IT : 40 posts, Actuary - 25, Accounts/ CA -25, Generalists - 289 posts) (UR-192, SC-57, ST-28, OBC-102) (PH-4), Pay Scale : Rs..17240-32640, Age : 21-30 years, relaxation as per Govt. rules.

Application Fee : Bank Draft of Rs.500/- (Rs.150/- for SC/ST/PH) payable at Mumbai drawn in favour of 'THE NEW INDIA ASSURANCE COMPANY LIMITED'. Candidates should write their name and address, Group and Code No. on the reverse of the Demand Draft.

Selection by a Written Test on 22/05/2011.

How to Apply : Application in the prescribed format only in an envelope superscribe at left hand upper corner as “NIACL Administrative Officer Post (indicate the Group Code for which application is made) and SC/ST/OBC/ECO/SSRCO/PWD/GEN (whichever is applicable)" and complete in all respects together with desired enclosures must reach by ordinary post on or before 28/03/2011 at the designated address as provided in the detailed advertisement.

Please view http://www.newindia.co.in for details and application format.

83 OSCAR AWARD WINNERS

The King's Speech" won the top Academy Award, for best picture, giving the British royals drama a total of four Oscars.

The acclaimed film about the efforts of the future King George VI to overcome a crippling stammer went into the event with a leading 12 nominations. It won such key awards as best actor for its star, Colin Firth.

The best picture award was accepted by its producers, Iain Canning, Emile Sherman and Gareth Unwin.

The nine other contenders were "Black Swan," "The Fighter," "Inception," "The Kids Are All Right," "127 Hours," "The Social Network," "Toy Story 3," "True Grit" and "Winter's Bone."

British actor Colin Firth won the Academy Award for his lead role as stammering wartime monarch King George VI in "The King's Speech."

WINNERS LIST:

BEST PICTURE: The King's Speech (Iain Canning, Emile Sherman and Gareth Unwin, Producers)

DIRECTING: The King's Speech (Tom Hooper)

ACTOR IN A LEADING ROLE: Colin Firth in The King's Speech

ACTRESS IN A LEADING ROLE: Natalie Portman in Black Swan

ACTOR IN A SUPPORTING ROLE: Christian Bale in The Fighter

ACTRESS IN A SUPPORTING ROLE: Melissa Leo in The Fighter

FOREIGN-LANGUAGE FILM: In a Better World (Denmark) (defeating Montrealer Denis Villeneuve’s Incendies)

ANIMATED FEATURE FILM: Toy Story 3 (Lee Unkrich)

WRITING (ADAPTED SCREENPLAY): The Social Network (Screenplay by Aaron Sorkin)

WRITING (ORIGINAL SCREENPLAY): The King's Speech (Screenplay by David Seidler)

SHORT FILM (ANIMATED): The Lost Thing (Shaun Tan and Andrew Ruhemann)

DOCUMENTARY (SHORT SUBJECT): Strangers No More (Karen Goodman and Kirk Simon)

SHORT FILM (LIVE ACTION): God of Love (Luke Matheny)

ART DIRECTION: Alice in Wonderland

MAKEUP: The Wolfman (Rick Baker and Dave Elsey)

COSTUME DESIGN: Alice in Wonderland (Colleen Atwood)

CINEMATOGRAPHY: Inception (Wally Pfister)

VISUAL EFFECTS: Inception (Paul Franklin, Chris Corbould, Andrew Lockley and Peter Bebb)

FILM EDITING: The Social Network (Angus Wall and Kirk Baxter)

DOCUMENTARY (FEATURE): Inside Job (Charles Ferguson and Audrey Marrs)

MUSIC (ORIGINAL SCORE): The Social Network (Trent Reznor and Atticus Ross)

MUSIC (ORIGINAL SONG): We Belong Together from Toy Story 3 (Music and Lyric by Randy Newman)

SOUND MIXING: Inception (Lora Hirschberg, Gary A. Rizzo and Ed Novick)

SOUND EDITING: Inception (Richard King)

UNION BUDGET 2011-12

The Union Budget 2011-12 aims to sustain economic growth, strengthen infrastructure, moderate the price rise, particularly of agricultural produce and reduce social imbalances through inclusive development. Presenting the budget 2011-12 in the Lok Sabha February 28, the Finance Minister Shri Pranab Mukherjee said that the budget is a transition towards a more transparent and result oriented economic management system in India. He said while developments on India’s external sector have been encouraging, continued high food prices have remained our principal concern. He said that the trend revealed shortcomings in distribution and marketing system. The Finance Minister said that huge differences between wholesale and retail prices are at the expense of remunerative prices for the farmers and competitive prices for consumers.

For sustaining growth tax reform will continue with the Direct Taxes Code (DTC) to be operationalised from April, 2012 while a Constitution Amendment Bill is proposed to be introduced during the current session of Parliament as a step towards roll out of the Goods and Services Tax (GST). He said the introduction of DTC and GST will result in moderation of rates, simplification of laws and better compliance. The Finance Minister re-iterated the Government’s resolve to move towards direct transfer of cash subsidy to people living below poverty line in a phased manner. He said that the Nutrient Based Subsidy (NBS) has improved the availability of fertilizers and the Government is actively considering extension of NBS regime to cover urea.

Finance Minister announced a number of measures to strengthen the agricultural sector particularly in the areas of pulses, vegetables and oil palm . He announced Rs. 300 crore expenditure to promote 60,000 pulses villages in rain fed areas for increasing crop productivity and strengthening market linkages. He also proposed to spend Rs. 300 crore to promote oil palm plantation in 60,000 hectares and Rs. 300 crore for the initiative on vegetable cluster. Rs. 400 crore is proposed to be spent to improve rice based cropping system in the Eastern Region. Capital investment in fertilizer production is proposed to be included as an infrastructure sub-sector since investment in the sector is capital intensive.

The allocation for social sector has been increased by 17% to Rs. 1,60,887 crore which amounts to 36.4% of the total plan allocation. Bharat Nirman, which includes Pradhan Mantri Gram Sadak Yojana (PMGSY), accelerated irrigation benefit programme, Rajiv Gandhi Grameen Vidyutikaran Yojana, Indira Awas Yojana, National Rural Drinking Water Programme and Rural Telephony have together been allocated Rs. 58,000 crore. Remuneration for Anganwadi workers have been increased to Rs. 3000 per month from Rs. 1500 per month while the Anganwadi helpers will get Rs. 1500 per month. This will be effective from 1^st April 2011 benefiting about 22 lakh Anganwadi workers and helpers.

The allocation on education has been increased by 24% to Rs. 52,057 crore. Sarva Shiksha Abhiyan gets Rs. 21,000 crore which is 40% higher than the previous year’s allocation of Rs. 15,000 crore. The Finance Minister also proposed to introduce a scholarship scheme for needy students belonging to the Scheduled Castes and Scheduled Tribes studying in classes IX and X. It would benefit about 40 lakh students. Plan allocation for Health has also been increased by 20 per cent to Rs. 26,760 crores. The Rashtriya Swasthaya Bima Yojana will be extended to the unorganized sector workers in hazardous mining and associated industries.

Underlining the need to strengthen Public Sector Banks (PSBs) the Finance Minister proposed to provide Rs. 6000 crore to maintain tier 1 capital to risk weighted asset ratio. He also proposed to infuse Rs. 500 crore into Regional Rural Banks (RRB) . A Women’s Self Help Groups Development Fund with a corpus of Rs. 500 crore is proposed to be created. He also proposed to create a micro finance equity fund of Rs. 100 crore with Small Industrial Development Bank of India (SIDBI) for providing equity to smaller micro finance institutions. Rs. 3000 crore will be provided to NABARD to help handloom weaver cooperative societies to become financially viable.

Interest subvention of 1 per cent on housing loans will now be available for loans upto Rs. 15 lakh where the cost of house does not exceed Rs. 25 lakh. The present limit for the loan amount is Rs. 10 lakh while the cost of the house should not exceed Rs. 20 lakh.

The total plan expenditure has been increased by 18.3 per cent to Rs. 4,41,547 crore and the non-plan expenditure increases by 10.9 per cent to Rs. 8,16,182 crore. The gross tax receipts are estimated to grow by 24.9 per cent to Rs. 9,32,440. Rs. 2,01,733 crore will be transferred to the Sates and UTs as plan and non plan transfers. This also marks a rise of 23 per cent over budget estimates of last year. The fiscal deficit is estimated at Rs. 4,12,817 crore which works out to 4.6 per cent of the GDP.

Turning to the direct taxes, the Finance Minister proposed to increase the exemption limit for general category individual tax payers by Rs. 20,000 to Rs. 1,80,000 per year. This will provide a uniform tax relief of Rs. 2000 to every tax payer of this category. The benefit for senior citizens will now be available at 60 years of age and the exemption limit will go up from Rs. 2,40,000 to Rs. 2,50,000. Those who are 80 years and above have been brought under a new category called very senior citizens and the exemption limit in this category will be Rs. 5 lakhs.

The minimum alternate tax rate has been hiked from 18 per cent to 18.5 per cent of book profits. Developers of Special Economic Zones as well as units operating MAT in SEZs have been brought under MAT. Tax benefit for investment in long term infrastructural bonds will continue for one more year. Income from foreign subsidiaries of Indian Company will now attract a lower tax of 15 per cent tax on dividends.

Turning to indirect tax, the finance Minister said that there are 370 items that enjoy the exemption from Central Excise Duty but are chargeable to VAT. He proposed to withdraw the exemption on 130 of these items. The remaining 240 items would be brought into the tax net when GST is introduced. A nominal 1 per cent central excise duty is being imposed on 130 items. The basic customs duty has been reduced from 30 to 5 per cent on raw silk, from 5 to 2.5 per cent on certain textile intermediates and from 7.5 per cent to 5 per cent on certain inputs for manufacture of technical fibre and yarn. Stainless steel scrap has been fully exempted from customs. Export duty on iron ore has been increased to 20 per cent ad valorem both for lumps and fines. The basic customs duty on pet coke and gypsum has been reduced 2.5 per cent to give relief to cement industry.

On the service tax front a few new services have been brought under tax net. Hotel accommodation in excess of Rs. 1000 per day and service provided by air conditioned restaurants with licence to serve liquor have been brought under the tax net. Service tax on air travel has been raised by Rs. 50 in case of domestic air travel and Rs. 250 on international journey by economy class. Services provided by Life Insurance Company in the area of investment and some more legal services have also been brought under tax net.

Finance Minister said the proposals on direct taxes are estimated to result in a revenue loss of Rs. 11,500 crore while those on the service tax will yield Rs. 4000 crore more. The Finance Minister has kept the disinvestment target at Rs. 40,000 crore for the coming year. He, however, reiterated that the Government is committed to retain at least 51 percent ownership and management control of the CPSUs. He said that as an emerging economy India stands at the threshold at the decade which presents immense possibilities. He said we have the voice on the global stage and we must not let the recent trends and tensions hold us back from converting these possibilities into realities.

Union Budget 2011-12 Highlights:

· Critical institutional reforms set pace for double-digit growth

· Scaled up flow of resources infuses dynamism in rural economy

· GDP estimated to have grown at 8.6% in 2010-11

· Exports grown by 9.6%, imports by 17.6% in April-January 2010-11 over corresponding period last year

· Indian economy expected to grow at 9% in 2011-12.

· Five-fold strategy to deal with black money. Group of Ministers to suggest ways for tackling corruption

· Public Debt Management Agency of India Bill to come up next financial year

· Direct Tax Code (DTC) to be effective from April 01, 2012

· Phased move towards direct transfer cash subsidy to BPL people for better delivery of kerosene, LPG and fertilizer mooted

· Rs.40,000 crore to be raised through disinvestment in 2011-12

· FDI policy to be liberalized further

· SEBI registered mutual funds permitted to accept subscription from foreign investors who meet KYC requirement

· FII limit for investment in corporate bonds in infrastructure sector raised

· Additional banking license to private sector players proposed

· Rs.6000 crore to be provided in 2011-12 for maintaining minimum Tier I Capital to Risk Weighted Asset Ratio (CRAR) of 8% in public sector banks

· Rs.500 crore to be provided to regional rural banks to maintain 9% CRAR

· India Microfinance Equity Fund of Rs.100 crore to be created by SIDBI

· Rs. 500 crore Women SHG Development Fund to be created

· Micro Small and Medium Enterprises MSME gets boost as Rs. 5000 crore provided to SIDBI and Rs.3000 crore to NABARD

· Existing housing loan limit enhanced to Rs.25 lakh for dwelling units

· Provision under Rural housing Fund enhanced to Rs.3000 crore

· Allocation under Rashtirya Krishi Vikas yojna (RKVY) increased to Rs.7860 crore

· Allocation of Rs.300 crore to promote 60000 pulses villages in rainfed areas

· Rs. 300 crore vegetable initiative to achieve competitive prices

· Rs.300 crore to promote higher production of nutri-cereals

· Rs.300 crore to promote animal based protein

· Rs.300 crore Accelerated Fodder Development Programme to benefit farmers in 25000 villages

· Credit flow to farmers raised from Rs.3,75,000 crore to Rs.4,75,000 crore

· Rs.10,000 crore for NABARD’s Short Term Rural Credit Fund for 2011-12

· 15 more mega food parks during 2011-12

· National food security bill to be introduced this year

· Capital investment in storage capacity to be eligible for viability gap funding

· 23.3% increase in allocation for infrastructure

· Tax-free bonds of Rs.30,000 crore proposed by government undertakings

· Environmental concerns relating to infrastructure projects to be considered by Group of Ministers

· National Mission for Hybrid and Electric Vehicles to be launched

· 7 Mega clusters for leather products to be set up

· Allocation for social sector increased by 17% amounting to 36.4% of total plan allocation

· Bharat Nirman allocation increased by Rs.10,000 crore

· Rural broadband connectivity to all 2.5 lakh panchayats in three years.

· Bill to amend Indian Stamp Act to introduce. Rs.300 crore scheme for modernization stamp and registration administration

· Significant increase in remuneration of Angawadi workers and helpers

· Allocation for education increased by24%. Rs.21,000 crore allocated for Sarv Shikshya Abhiyan registering an increase of 40%

· 1500 institute of higher learning to be connected by March 2012 with Knowledge Knowledge Network.

· National Innovation Council set up. Additional Rs.500 crore for National Skill Development Fund

· Plan allocation for health stepped up by20%

· Indira Gandhi National Old Age Pension Scheme liberalized further

· Rs.200 crore for Green India Mission

· Rs.200 crore for cleaning of rivers

· Rs.8000 crore provided for development needs of J&K

· 10 lakhs Aadhaar(UID) numbers to be generated everyday from 1^st October

· Fiscal deficit kept at 4.6% of GDP for 2011-12

· Income Tax exemption limit for general category in individual tax payers enhanced from Rs.1,60,000 to Rs.1,80,000

· Qualifying age for senior citizens lowered to 60; senior citizen above 80 year to get Rs.5,00,000 IT exemption

· Surcharge on corporate lowered to 5%