MCQ on Indian Economy
Government imposes taxes to:
- run the machinery of State
- uplift of weaker sections
- check the accumulation of wealth among the rich
- None of the above
Explanation:
If the RBI adopts expansionist open market operations policy, this means that it will:
- openly announce to the market that it intends to expand credit
- sell securities in open market
- offer commercial banks more credit in the open market
- buy securities from non-government holders
Explanation:
The LPG model of development was introduced by India since:
- 1991
- 1992
- 1993
- 1994
Explanation:
The highest body which approves the Five Year Plan in India is :
- Parliament
- Planning Commission
- National Development Council
- Finance Commission
Explanation:
Fiscal Deficit is:
- Government expenditure minus borrowings
- Government expenditure minus revenue receipts
- Same as budget deficit
- Budget deficit minus borrowings and other liabilities
Explanation:
Which organisation looks after the credit need of agriculture and rural development in India ?
- FCI
- IDBI
- NABARD
- ICAR
Explanation:
If withdrawal of a worker from employment does not create any output loss, this situation is known as
- Search unemployment
- Voluntary unemployment
- Disguised unemployment
- Frictional unemployment
Explanation:
Which of the statements given below is/are correct?
(i) GNP is always higher than GDP.
(ii) If GDP is greater than GNP, then net factor income earned abroad is negative.
Select the correct answer using the codes given below.
- Only (i)
- Only (ii)
- Both (i) and (ii)
- Neither (i) nor (ii)
Explanation:
Which of the following sources provides highest tax revenue to Government of India?
- Personal Income Tax
- Excise Duty
- Corporation Tax
- Customs Duty
Explanation:
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
Explanation: