Find out the statement which is false.
Financial Structural reform needs

• fall in government budget deficit
• increase in profitability of economic sectors
• reduce inflationary pressure
• increase in the balance of payment deficit
Correct Option: D  [ increase in the balance of payment deficit ]

Remark:

Fiscal Deficit is:

• Government expenditure minus borrowings
• Government expenditure minus revenue receipts
• Same as budget deficit
• Budget deficit minus borrowings and other liabilities
Correct Option: B  [ Government expenditure minus revenue receipts ]

Remark:

In which year the Planning commission was set-up?

• 1949
• 1950
• 1951
• 1952
Correct Option: B  [ 1950 ]

Remark:

Mixed economy means an economy where:

• There is co-existence of public sector along with private sector
• Both agriculture and Industry are equally promoted by the state
• There is importance of small scale industries along with heavy industries
• Economy is controlled by military as well as civilian rulers
Correct Option: A  [ There is co-existence of public sector along with private sector ]

Remark:

The LPG model of development was introduced by India since:

• 1991
• 1992
• 1993
• 1994
Correct Option: A  [ 1991 ]

Remark:

Which one of the following is the main source of revenue for the states ?

• Property tax
• Sales tax
• Excise duty
• None of these
Correct Option: B  [ Sales tax ]

Remark:

Planning Commission of India was set up by :

• Morarji Desai
• T T Krishnamachari
• Jawaharlal Nehru
• None of the above
Correct Option: C  [ Jawaharlal Nehru ]

Remark:

Which of the following was established in 1990 as a wholly owned subsidiary under the Small Industries Development Bank of India Act, 1989 ?

• RBI
• SIDBI
• ICICI
• NABARD
Correct Option: B  [ SIDBI ]

Remark:

Which of the following sector gives the largest income in India ?

• Trade sector
• Railway
• Agriculture
• Service sector
Correct Option: D  [ Service sector ]

Remark:

GST abolishes which of the following taxes ?

• Corporation tax
• Service tax
• Income tax
• Wealth tax
Correct Option: B  [ Service tax ]

Remark: