MCQ
upsc-p1-economy-intl-economic-institutions MCQ - Practice Questions with Answers
Solve 2 upsc-p1-economy-intl-economic-institutions questions for RAS/RPSC preparation.
Practice questions
Q1Consider the following statements about international economic institutions and Indian law: 1. International economic institutions such as the IMF and the World Bank are constitutional bodies in India. 2. Article 253 empowers Parliament to make laws for implementing treaties, agreements and decisions of international bodies. 3. An international agreement signed by India does not by itself replace the domestic legal rules governing expenditure, borrowing, taxation, procurement and financial accountability. Select the correct answer using the code given below.
Statements 2 and 3 are correct. Article 253 provides a constitutional route for implementing international obligations through parliamentary law, while domestic expenditure, borrowing, taxation, procurement and financial accountability continue to follow Indian law. Statement 1 is incorrect because these are treaty-based international institutions, not constitutional bodies of India.
Q2Match List I with List II: List I (Provision or law) A. Article 253 B. Article 292 C. Article 293 D. Asian Development Bank Act, 1966 List II (Closest relevance) 1. State borrowing and Union consent in specified cases 2. Domestic implementation of India's participation in the Asian Development Bank 3. Parliamentary law for implementing treaties and decisions of international bodies 4. Union borrowing on the security of the Consolidated Fund of India Select the correct answer using the code given below.
Article 253 concerns parliamentary implementation of treaties and international decisions; Article 292 concerns Union borrowing on the security of the Consolidated Fund of India; Article 293 concerns State borrowing and Union consent in specified cases; and the 1966 Act implements India's ADB participation. The correct sequence is A-3, B-4, C-1, D-2.
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