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MCQ on Indian Economy

Question : The Iron and Steel plants of Rourkela and Durgapur were conceived under the:

Option-A : First Five Year Plan

Option-B : Second Five Year Plan

Option-C : Third Five Year Plan

Option-D : Fourth Five Year Plan

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Question : Major part of the Indian agriculture is characterized by

Option-A : Large size farm

Option-B : Capitalist agriculture

Option-C : Small size farm

Option-D : Co-operative farm

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

Option-A : Trade sector

Option-B : Railway

Option-C : Agriculture

Option-D : Service sector

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Question : Which among the following in India has the function of recommending Minimum Support Prices for various commodities to the Government ?

Option-A : National Farmers Commission

Option-B : Commission for Agricultural Costs and Prices

Option-C : Central Statistical organization

Option-D : Department of Agriculture

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Question : Inclusive growth as enunciated in the Eleventh Five Year Plan does not include one of the following:

Option-A : Reduction of Poverty

Option-B : Extension of employment opportunities

Option-C : Strengthening of capital market

Option-D : Reduction in gender inequality

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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 : A closed economy is an economy in which:

Option-A : the money supply is fully controlled

Option-B : deficit financing takes place

Option-C : only exports take place

Option-D : Neither exports nor imports take place.

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Question : Fiscal Deficit is:

Option-A : Government expenditure minus borrowings

Option-B : Government expenditure minus revenue receipts

Option-C : Same as budget deficit

Option-D : Budget deficit minus borrowings and other liabilities

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Question : In India, Special Economic Zones were established to enhance:

Option-A : Technology Development

Option-B : Free Trade

Option-C : Foreign Investment

Option-D : Employment

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Question : Which of the following products of Tripura ranks Second in all India level in terms of production ?

Option-A : Paddy

Option-B : Bamboo

Option-C : Natural gas

Option-D : Natural rubber

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