Committees — Set 1
Economics · समितियां · Questions 1–10 of 60
Which committee was formed in 1991 to suggest reforms in the Indian tax system?
Correct Answer: D. Challiah Committee
The Challiah Committee was established to recommend reforms for the Indian tax structure. It advocated for reducing tax rates and broadening the tax base. This committee played a crucial role in the early liberalization era.
Which committee is primarily associated with the first phase of financial sector reforms in India?
Correct Answer: C. Narasimham Committee
The Narasimham Committee recommended reforms to improve the efficiency of the banking sector. It suggested reducing the Statutory Liquidity Ratio (SLR) and Cash Reserve Ratio (CRR). Its reports in 1991 and 1998 shaped the modern Indian banking landscape.
The Malhotra Committee (1993) was setup to recommend reforms in which sector?
Correct Answer: D. Insurance Sector
The Malhotra Committee was tasked with suggesting improvements in the insurance sector. It recommended opening the insurance market to private competition and foreign investment. This led to the establishment of the Insurance Regulatory and Development Authority (IRDA).
Which committee was appointed to look into the estimation of poverty in India in 2005?
Correct Answer: B. Tendulkar Committee
The Tendulkar Committee was established to move away from mere calorie-based poverty estimation. It introduced a new methodology based on consumption expenditure for health and education. The committee suggested a broader basket of goods to define the poverty line.
The Rangarajan Committee (2012) was constituted to review which specific economic area?
Correct Answer: C. Poverty Measurement
The Rangarajan Committee was formed to provide an alternative perspective on poverty measurement after the Tendulkar report. It proposed higher consumption thresholds for both rural and urban areas. This report calculated a higher percentage of the population living below the poverty line.
Which committee recommended the abolition of the separate Railway Budget and its merger with the General Budget?
Correct Answer: B. Bibek Debroy Committee
The Bibek Debroy Committee suggested restructuring the Indian Railways and merging the budgets. This merger was implemented starting from the 2017-18 financial year. It ended a 92-year-old tradition of presenting a separate Railway Budget.
The Abid Hussain Committee (1997) is famous for its recommendations regarding?
Correct Answer: B. Small Scale Industries
The Abid Hussain Committee focused on the promotion and development of Small Scale Industries (SSIs). It recommended the de-reservation of items exclusively reserved for the small-scale sector. This move aimed to make Indian small businesses more competitive globally.
Which committee was formed to suggest a roadmap for 'Full Capital Account Convertibility' in India?
Correct Answer: B. Tarapore Committee
The Tarapore Committee was appointed by the RBI to study the feasibility of full capital account convertibility. It laid down specific preconditions such as low fiscal deficit and inflation control. This committee submitted its influential reports in 1997 and 2006.
The Kelkar Committee (2002) is most well-known for its report on?
Correct Answer: B. Direct and Indirect Tax Reforms
The correct answer is 'Direct and Indirect Tax Reforms'. The Kelkar Committee provided a comprehensive roadmap for reforming India's tax administration. It emphasized simplifying the tax structure and increasing the use of technology. Its recommendations eventually paved the way for the implementation of the Goods and Services Tax (GST).
Which committee was associated with the establishment of NABARD?
Correct Answer: C. Sivaraman Committee
The Sivaraman Committee recommended the creation of a specialized institution for agricultural and rural development. Based on its report, NABARD was established in July 1982. It acts as the apex regulatory body for regional rural banks and cooperative banks.