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MCQ on Indian Economy

SRI, which is highly practiced in Tripura is associated with:

  • Rice production
  • Rural internal connectivity
  • E-marketing
  • Regards to elders
  • Correct Option: A  [ Rice production ]

    Explanation:

The Gandhian economy is based on the principle of:

  • Competition
  • Trusteeship
  • State Control
  • None of the above
  • Correct Option: B  [ Trusteeship ]

    Explanation:

National Food Security Act came into effect in the year:

  • 2012
  • 2013
  • 2014
  • None of the above
  • Correct Option: B  [ 2013 ]

    Explanation:

Which of the following does not come under the GST in India ?

  • Agricultural products
  • Handicrafts
  • Gems and jewelries
  • Petroleum products
  • Correct Option: D  [ Petroleum products ]

    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
  • Correct Option: C  [ A monetary and non-monetary conditions where people lack access to community regulated common resources, opportunities and income ]

    Explanation:

Which of the following was established in 1990 as a wholly owned subsidiary under the Small Industries Development Bank of India Act, 1989 ?

  • RBI
  • SIDBI
  • ICICI
  • NABARD
  • Correct Option: B  [ SIDBI ]

    Explanation:

Which period in India is known as plan holiday ?

  • 1961-1966
  • 1965-1966
  • 1966-1969
  • 1969-1974
  • Correct Option: C  [ 1966-1969 ]

    Explanation:

First Five Year Plan started in India in the year?

  • 1952
  • 1956
  • 1950
  • 1951
  • Correct Option: D  [ 1951 ]

    Explanation: 1951-56

Which is the following is direct tax ?

  • Income tax
  • Excise duty
  • Sales tax
  • None of these
  • Correct Option: A  [ Income tax ]

    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: