MCQ on Indian Economy
Tertiary sector activities include
- Cottage industries
- Mining activities
- Construction activities
- Infrastructure services
Explanation:
Which of the following products of Tripura ranks Second in all India level in terms of production ?
- Paddy
- Bamboo
- Natural gas
- Natural rubber
Explanation:
The earlier name of WTO was:
- UNCTAD
- GATT
- UNIDO
- OECD
Explanation: General Agreement on Trade and Tariffs (GATT) under the Marrakesh Agreement. The World Trade Organization (WTO) began journey on 1 January 1995.
Planning Commission of India was set up by :
- Morarji Desai
- T T Krishnamachari
- Jawaharlal Nehru
- None of the above
Explanation:
New Industrial Policy of India was introduced in the year:
- 1990
- 1991
- 1992
- 1993
Explanation:
Which activity is not included in service sector ?
- Trade, hotels and restaurants
- Real estate, finance and insurance
- Transport and communication
- Electricity, gas and water supply
Explanation:
The World Trade Organisation has replaced which organisation ?
- ITO
- UNCTAD
- GATT
- OECD
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:
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:
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: