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MCQ on Indian Economy

Question : Which institution in India controls the monetary policy of Indian currency?

Option-A : Finance Commission

Option-B : The Finance Ministry of India

Option-C : The Reserve Bank of India

Option-D : None of the above

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Question : Which of the following benefits is covered under social security schemes ?

Option-A : Retirement benefits

Option-B : Medical facility

Option-C : Compensation facilities

Option-D : All of the above

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Question : Which of the following is true in respect of Centre-State financial relations ?

Option-A : Amount given by Centre is the only source of income to States

Option-B : States can by-pass Centre while taking foreign loans

Option-C : States can not levy income tax

Option-D : States can claim 100 % share in excise duty on goods produced in the State

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Question : In India, present trend of rapid urbanization is due to:

Option-A : lack of employment opportunities in rural areas

Option-B : influence of cinema and electronic media

Option-C : break up of joint family system

Option-D : abolition of zamindari tystem

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Question : Which of the following is the role of Finance Commission ?

Option-A : Sharing of net proceeds of taxes between the Centre and States.

Option-B : Recommending principles for governing the grants-in-aid to the States by the Centre

Option-C : Recommendations on matters referred to it by the President for the interest of finance

Option-D : All of the above

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Question : In India, which sector generally suffers from the problem of surplus labour ?

Option-A : Agriculture

Option-B : Industry

Option-C : Service

Option-D : All of these

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Question : Which period in India is known as plan holiday ?

Option-A : 1961-1966

Option-B : 1965-1966

Option-C : 1966-1969

Option-D : 1969-1974

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Question : The highest body which approves the Five Year Plan in India is :

Option-A : Parliament

Option-B : Planning Commission

Option-C : National Development Council

Option-D : Finance Commission

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Question : SRI, which is highly practiced in Tripura is associated with:

Option-A : Rice production

Option-B : Rural internal connectivity

Option-C : E-marketing

Option-D : Regards to elders

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Question : First Five Year Plan started in India in the year?

Option-A :1952

Option-B :1956

Option-C :1950

Option-D :1951

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