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MCQ on Indian Economy

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

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

    Explanation:

Where is the headquarter of State Bank of India (SBI) situated ?

  • Delhi
  • Mumbai
  • Pune
  • Srinagar
    • Correct Option: B  [ Mumbai ]

    Explanation:

Which of the following is a primary sector of economic activities in India ?

  • Food processing
  • Telecom services
  • Manufacturing industry
  • Agriculture
    • Correct Option: D  [ Agriculture ]

    Explanation:

In which year the Planning commission was set-up?

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

    Explanation:

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

  • Agriculture
  • Industry
  • Service
  • All of these
    • Correct Option: A  [ Agriculture ]

    Explanation:

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

  • Amount given by Centre is the only source of income to States
  • States can by-pass Centre while taking foreign loans
  • States can not levy income tax
  • States can claim 100 % share in excise duty on goods produced in the State
    • Correct Option: C  [ States can not levy income tax ]

    Explanation:

Which of the following is the role of Finance Commission ?

  • Sharing of net proceeds of taxes between the Centre and States.
  • Recommending principles for governing the grants-in-aid to the States by the Centre
  • Recommendations on matters referred to it by the President for the interest of finance
  • All of the above
    • Correct Option: D  [ All 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
    • Correct Option: B  [ sell securities in open market ]

    Explanation:

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 ]

    Explanation:

If the Cash Reserve Ratio (CRR) is lowered by the RBI, its impact on credit creation will be to :

  • decrease it
  • increase it
  • No impact
  • None of these
    • Correct Option: B  [ increase it ]

    Explanation:
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