MCQ on Indian Economy
The Iron and Steel plants of Rourkela and Durgapur were conceived under the:
- First Five Year Plan
- Second Five Year Plan
- Third Five Year Plan
- Fourth Five Year Plan
Explanation:
Major part of the Indian agriculture is characterized by
- Large size farm
- Capitalist agriculture
- Small size farm
- Co-operative farm
Explanation:
Match the following :
| List-I | List-II | ||
|---|---|---|---|
| a. | Monetary Policy Committee | 1. | Union Home Minister |
| b. | GST Council | 2. | Union Finance Minister |
| c. | NITI Aayog | 3. | RBI Governor |
| d. | Cabinet Committee on Parliamentary Affairs | 4. | Prime Minister of India |
- a-2, b-3, c-4, d-1
- a-3, b-2, c-4, d-1
- a-3, b-2, c-1, d-4
- a-2, b-3, c-1, d-4
Explanation:
NITI Aayog, which replaced the Planning commission of India, was formed by a cabinet resolution of the Government of Inda on:
- 1st January, 2015
- 26th January, 2015
- 15th August, 2015
- None 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:
The period of high inflation and low economic growth is termed as:
- Stagnation
- Take-off stage in economy
- Stagflation
- Depression
Explanation:
Three annual plans were launched between:
- 1969 to 1972
- 1986 to 1989
- 1990 to 1993
- 1966 to 1969
Explanation:
Which of the following is the main problem in the growth of agriculture sector in Tripura ?
- About 96 per cent of the land holdings are small and marginal
- 60 per cent of the total geographical area is forest cover
- Two-third of the geographical area is hilly
- All of the above
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
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: