MCQ on Indian Economy
Which of the following does not come under the GST in India ?
- Agricultural products
- Handicrafts
- Gems and jewelries
- Petroleum products
Explanation:
The Special Economic Zones Act was passed by the Indian Parliament in 2005 and the Act came into force in:
- 2006
- 2009
- 2010
- 2012
Explanation:
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
Explanation:
The period of high inflation and low economic growth is termed as:
- Stagnation
- Take-off stage in economy
- Stagflation
- Depression
Explanation:
In India, which sector generally suffers from the problem of surplus labour ?
- Agriculture
- Industry
- Service
- All of these
Explanation:
Major part of the Indian agriculture is characterized by
- Large size farm
- Capitalist agriculture
- Small size farm
- Co-operative farm
Explanation:
Whose signature is found on the 1000 rupee note of India?
- Finance Secretary of India
- Finance Minister Of India
- Governor, Reserve Bank of India
- President Of India
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:
What is hard currency?
- A stable currency
- Arranged in war time
- Issued by IMF
- Given by RBI to foreign banks
Explanation:
The highest body which approves the Five Year Plan in India is :
- Parliament
- Planning Commission
- National Development Council
- Finance Commission
Explanation: