MCQ on Indian Economy
Scheme run under MGNREGA are sponsored :
- by the Central Government alone
- by the State Government alone
- partly by the Central Government and partly by the State Government
- by Centre, State and Panchayat bodies together
Explanation:
In order to control inflationary price rise, Reserve Bank directs Banks to
- Reduce rate of interest on credit
- Reduce Statutory Liquidity Ratio (SLR)
- Increase Cash Reserve Ratio (CRR)
- Buy bonds from capital market
Explanation:
Which of the following is not an asset held by the commercial bank ?
- Bills of exchange
- Current account deposits
- Money lent at short notice
- Credit balances with the Reserve Bank
Explanation:
Which institution in India controls the monetary policy of Indian currency?
- Finance Commission
- The Finance Ministry of India
- The Reserve Bank of India
- None of the above
Explanation:
The period of high inflation and low economic growth is termed as:
- Stagnation
- Take-off stage in economy
- Stagflation
- Depression
Explanation:
Which organisation looks after the credit need of agriculture and rural development in India ?
- FCI
- IDBI
- NABARD
- ICAR
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
Explanation:
Consider the following statements regarding the Goods and Services Tax (GST) of India:
(i) GST is a successor to VAT used in India on the supply of goods and services.
(ii) GST came into effect from 1st July, 2017 through the implementation of the one hundred and first Amendment of the Constitution of India.
(iii) Every decision of the GST Council is to be taken by a majority of not less than three fourths of the weighted votes of the members present and
voting at the meeting.
(iv) The GST Council is chaired by the Prime Minister of India.
Select the correct statement/statements using the codes given below.
- (i) only
- (ii) only
- (iii) and (iv) only
- (i), (ii) and (iii) only
Explanation:
Fiscal policy is connected with:
- exports and imports
- issue of currency
- public revenue and public expenditure
- liquidity of money
Explanation:
In India the Repo rate is announced by:
- the Ministry of Finance, Government of India
- the Prime Minister of India
- the Reserve Bank of India
- the President of India
Explanation: