Multiple choice

Which of the following statements about austerity measures introduced by the Union Finance Ministry to curb government expenditure in September 2009 are correct? I.          Ministries and Departments were asked to cut non-plan expenditure by ten per cent in case of some expenses and five percent in case of the remaining ones II.         Ministries and Departments were asked not to hold conferences in five star hotels III.        Plan expenditure was subjected to a token one percent cut

  1. I and II only

  2. II only

  3. III and I only

  4. III only

Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

II. HDFC has joint venture with Standard Life of Scotland for life insurance and Germany's ERGO for general insurance. Management control in the insurance businesses of both HDFC and ICICI Bank is in Indian hands.