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MCQ on Indian Economy

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

  • National Farmers Commission
  • Commission for Agricultural Costs and Prices
  • Central Statistical organization
  • Department of Agriculture
    • Correct Option: B  [ Commission for Agricultural Costs and Prices ]

    Explanation:

Who was the father of Operation Flood in India ?

  • Dr. Varghese Kurien
  • M. S. Swaminathan
  • A P J Abdul Kalam
  • Morarji Desai
    • Correct Option: A  [ Dr. Varghese Kurien ]

    Explanation: Operation Flood related to Milk Production.

Green revolution occurred during:

  • 1945-1955
  • 1965-1975
  • 1985-1995
  • none of these
    • Correct Option: B  [ 1965-1975 ]

    Explanation:

The period of high inflation and low economic growth is termed as:

  • Stagnation
  • Take-off stage in economy
  • Stagflation
  • Depression
    • Correct Option: C  [ Stagflation ]

    Explanation:

Economic growth is usually coupled with ___________.

  • deflation
  • inflation
  • Stagflation
  • hyper inflation
    • Correct Option: B  [ inflation ]

    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
    • Correct Option: B  [ sell securities in open market ]

    Explanation:

New Industrial Policy of India was introduced in the year:

  • 1990
  • 1991
  • 1992
  • 1993
    • Correct Option: B  [ 1991 ]

    Explanation:

A closed economy is an economy in which:

  • the money supply is fully controlled
  • deficit financing takes place
  • only exports take place
  • Neither exports nor imports take place.
    • Correct Option: D  [ Neither exports nor imports take place. ]

    Explanation:

When was National Bank of Agriculture and Rural Development (NABARD) established ?

  • 6th Dec, 1947
  • 6th Dec, 1982
  • 5th Nov, 1982
  • 7th Oct, 1982
    • Correct Option: C  [ 5th Nov, 1982 ]

    Explanation:

In which year the Planning commission was set-up?

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

    Explanation:
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