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Indian EconomyMediumAsked in: UPSC CAPF · CAPF 2018, Paper I

Who among the following is not associated to the Governing Council of NITI Aayog?

  1. A.The Prime Minister
  2. B.The President
  3. C.The Chief Ministers of States
  4. D.The Chief Ministers of Union Territories

Correct answer

B. The President

Explanation

The correct answer is B, The President. The President of India has no place in NITI Aayog's Governing Council, which is a forum of the Prime Minister and the heads of the States and Union Territories.

NITI Aayog was set up on 1 January 2015 by a Union Cabinet resolution, replacing the Planning Commission. Its Governing Council is chaired by the Prime Minister and has as members the Chief Ministers of all States, the Chief Ministers of Union Territories with legislatures (Delhi, Puducherry and Jammu and Kashmir) and the Lieutenant Governors or Administrators of the other Union Territories, along with ex-officio members and special invitees. It is meant to promote cooperative federalism.

A is wrong because the Prime Minister is the chairperson of the Governing Council. C is wrong because the Chief Ministers of all States are its members. D is wrong because the Chief Ministers of Union Territories that have legislatures are also members.

Exam tip: NITI Aayog: chairperson Prime Minister; Governing Council = PM + all State CMs + UT CMs and LGs; formed 1 January 2015.

Practice Questions

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Q1.Indian EconomyEasy

The Securities and Exchange Board of India was given statutory powers by which law?

  1. A.The Securities Contracts (Regulation) Act, 1956
  2. B.The Companies Act, 1956
  3. C.The SEBI Act, 1992
  4. D.The Depositories Act, 1996
Show answer
Correct answer: C. The SEBI Act, 1992

SEBI was set up in 1988 as a non-statutory body and was given statutory status and powers by the Securities and Exchange Board of India Act, 1992, after which it became the regulator of the securities market, with its head office in Mumbai; appeals from its orders lie to the…

Q3.Indian EconomyMedium

Which is regarded as the first stock exchange of the world?

  1. A.London Stock Exchange
  2. B.New York Stock Exchange
  3. C.Amsterdam Stock Exchange
  4. D.Paris Bourse
Show answer
Correct answer: C. Amsterdam Stock Exchange

It was established in 1602 by the Dutch East India Company, whose shares were traded there continuously, and it is therefore counted as the world's first stock exchange; the exchange is now part of Euronext.