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What is FEMA ?

  • First Exchange Management Act
  • Foreign Exchequer Management Act
  • Foreign Exchange Management Act
  • Foreign Evaluation Management Act

Answer: Option C

Explanation:

FEMA is Foreign Exchange Management Act, it came into force in July 2000. It replaced Foreign Exchange Regulation Act 1973.

Similar Questions :

1. First five year plan in India was from

  • 1947 - 1952
  • 1949 - 1954
  • 1950 - 1955
  • 1951 - 1956

Answer: Option D

2. Approx __ % of Indian population is still Agriculturist.

  • 46%
  • 50%
  • 58%
  • 64%

Answer: Option C

3. Deficit financing implies :

  • printing new currency notes
  • public revenue in excess of public expenditure
  • public expenditure in excess of public revenue
  • replacing new currency with worn out currency

Answer: Option C

4. Which one among the following formulates the fiscal policy in India ?

  • Planning Commission
  • Finance Commission
  • The Reserve Bank of India
  • Ministry of Finance

Answer: Option D

5. What is Autarchy ?

  • Gradual increase of economy.
  • Gradual decline of economy.
  • Self sufficiency and self reliance of economy.
  • Dependence of economy on external factors.

Answer: Option C

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