Economic Committees and Their Subjects

Attempt the quiz above first, then review every question with its correct answer and a short explanation below.

1. Q1.The Narasimham Committee (1991) is associated with:

   • A.banking sector reforms✓ Correct Answer
   • B.agricultural pricing
   • C.railway reforms
   • D.power sector reforms

   Explanation: It recommended reforms in the financial system including lowering CRR and SLR.

2. Q2.The Chelliah Committee (1991-93) was set up to recommend:

   • A.banking reforms
   • B.tax reforms✓ Correct Answer
   • C.poverty estimates
   • D.labour laws

   Explanation: The Tax Reforms Committee led by Raja Chelliah proposed lower and simpler tax rates.

3. Q3.The Tendulkar Committee (2009) reported on:

   • A.income tax slabs
   • B.the money supply
   • C.the methodology for estimating poverty✓ Correct Answer
   • D.trade policy

   Explanation: It revised the way poverty lines are estimated.

4. Q4.The Wanchoo Committee (1971) examined:

   • A.school education
   • B.direct taxes and tax evasion✓ Correct Answer
   • C.railway safety
   • D.agricultural credit

   Explanation: The Direct Taxes Enquiry Committee headed by K. N. Wanchoo studied black money and evasion.

5. Q5.The Shivaraman Committee (1979) recommended the creation of:

   • A.SEBI
   • B.SIDBI
   • C.IDBI
   • D.NABARD✓ Correct Answer

   Explanation: It proposed a dedicated apex bank for agricultural and rural credit.

6. Q6.The Nachiket Mor Committee dealt with:

   • A.direct tax reforms
   • B.foreign trade policy
   • C.public distribution
   • D.financial inclusion and payments banks✓ Correct Answer

   Explanation: It recommended payments banks and small finance banks.

7. Q7.The Urjit Patel Committee (2014) recommended that monetary policy be based on:

   • A.exchange rate pegging
   • B.inflation targeting✓ Correct Answer
   • C.gold standard
   • D.money supply targets alone

   Explanation: It led to the flexible inflation targeting framework and the Monetary Policy Committee.

8. Q8.The Bimal Jalan Committee (2018) reviewed the:

   • A.GST rate structure
   • B.MGNREGA wages
   • C.economic capital framework of the RBI✓ Correct Answer
   • D.minimum support prices

   Explanation: It advised how much surplus the RBI should keep and transfer to the Government.

9. Q9.The Kelkar Task Force (2002) made recommendations on:

   • A.direct and indirect tax reforms✓ Correct Answer
   • B.higher education
   • C.defence procurement
   • D.rural housing

   Explanation: The Kelkar Task Force on direct and indirect taxes proposed simplifying the tax structure.

10. Q10.The Vaghul Committee (1987) studied the:

    • A.stock exchanges
    • B.rural banking
    • C.money market✓ Correct Answer
    • D.insurance sector

    Explanation: It recommended new money market instruments such as certificates of deposit and commercial paper.

11. Q11.The Abid Hussain Committee (1997) made recommendations about the:

    • A.banking sector
    • B.tax administration
    • C.small-scale industry sector✓ Correct Answer
    • D.public distribution system

    Explanation: It examined problems of small-scale industries and suggested credit and technology support.

12. Q12.The Tarapore Committee (1997) examined:

    • A.capital account convertibility✓ Correct Answer
    • B.rural credit
    • C.poverty lines
    • D.tax evasion

    Explanation: It set a roadmap for making the rupee convertible on the capital account.

13. Q13.The FRBM Review Committee (2016-17) was headed by:

    • A.N. K. Singh✓ Correct Answer
    • B.Y. V. Reddy
    • C.Vijay Kelkar
    • D.C. Rangarajan

    Explanation: It recommended a debt-to-GDP anchor and a fiscal council.

14. Q14.The Khusro Committee (1989) reviewed:

    • A.stock markets
    • B.agricultural credit✓ Correct Answer
    • C.steel industry
    • D.foreign aid

    Explanation: The Agricultural Credit Review Committee headed by A. M. Khusro examined rural lending.

15. Q15.The Shome Committee (2012) reviewed the:

    • A.Goods and Services Tax rates
    • B.Public Distribution System
    • C.Bank nationalisation
    • D.General Anti-Avoidance Rules (GAAR)✓ Correct Answer

    Explanation: Parthasarathi Shome's committee recommended deferring GAAR and softening its provisions.

16. Q16.The Bhagwati Committee (1973) dealt with:

    • A.unemployment✓ Correct Answer
    • B.bank mergers
    • C.capital markets
    • D.cooperative law

    Explanation: The committee on unemployment estimates was chaired by B. Bhagwati.

17. Q17.The Malegam Committee (2010) made recommendations on:

    • A.the insurance sector
    • B.tax administration
    • C.defence production
    • D.the microfinance sector✓ Correct Answer

    Explanation: It was formed after the microfinance crisis to suggest regulation of MFIs.

18. Q18.The Mahalanobis Committee (1960) studied the:

    • A.banking structure
    • B.tax evasion
    • C.distribution of income and levels of living✓ Correct Answer
    • D.industrial licensing

    Explanation: It examined whether planning had concentrated economic power and income.

19. Q19.The Chakravarty Committee (1985) reviewed the working of the:

    • A.railway budget
    • B.monetary system✓ Correct Answer
    • C.public distribution system
    • D.cooperative sector

    Explanation: Sukhamoy Chakravarty's committee reviewed India's monetary system and the role of monetary targeting.

20. Q20.The Raj Committee (1972) examined the question of:

    • A.bank nationalisation
    • B.foreign investment
    • C.stock market reform
    • D.taxation of agricultural wealth and income✓ Correct Answer

    Explanation: The Committee on Taxation of Agricultural Wealth and Income was chaired by K. N. Raj.