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
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:
Poverty is defined as:
- A monetary condition brought about by people's own laziness
- A monetary condition where people do not have enough to satisfy basic needs
- A monetary and non-monetary conditions where people lack access to community regulated common resources, opportunities and income
- All of the above
Explanation:
Which of the following Committees are related to Banking reforms: i) Narsimham Committee ii) P J Nayak Committee iii) Sunil Mehta Committee iv) Nachiket Mor Committee
- (i), (ii) and (iii) only
- (ii), (iii) and (iv) only
- (i) and (iv) only
- (i), (ii), (iii) and (iv)
Explanation:
In India, National Income is computed by :
- Ministry of Fianance
- Central Statistical Organisation
- National Development Council
- Finance Commission
Explanation:
Which one of the following is the main source of revenue for the states ?
- Property tax
- Sales tax
- Excise duty
- None of these
Explanation:
Who was the first Governor of Reserve Bank of India (RBI)?
- C D Deshmukh
- Sir Osborne Smith
- James Braid Taylor
- Benegal Rama Rau
Explanation: from 1935 to 1937
Tertiary sector activities include
- Cottage industries
- Mining activities
- Construction activities
- Infrastructure services
Explanation:
Which of the following sources provides highest tax revenue to Government of India?
- Personal Income Tax
- Excise Duty
- Corporation Tax
- Customs Duty
Explanation:
Which of the following sector gives the largest income in India ?
- Trade sector
- Railway
- Agriculture
- Service sector
Explanation: