MCQ on Indian Economy
Which of the following sector gives the largest income in India ?
- Trade sector
- Railway
- Agriculture
- Service sector
Explanation:
GST abolishes which of the following taxes ?
- Corporation tax
- Service tax
- Income tax
- Wealth tax
Explanation:
The qualification for the Chairman and the members of the Finance Commission are specified in:
- Finance Act of 1951
- Finance Act of 1952
- Finance Act of 1950
- Finance Act of 1953
Explanation:
Where is the headquarter of State Bank of India (SBI) situated ?
- Delhi
- Mumbai
- Pune
- Srinagar
Explanation:
National Food Security Act came into effect in the year:
- 2012
- 2013
- 2014
- None of the above
Explanation:
Which of the following does not come under the GST in India ?
- Agricultural products
- Handicrafts
- Gems and jewelries
- Petroleum products
Explanation:
In India, which sector generally suffers from the problem of surplus labour ?
- Agriculture
- Industry
- Service
- All of these
Explanation:
Plan finance creates increase of money supply if there is
- increase in taxes
- increase in loan from the Reserve Bank of India
- increase in loan from commercial Banks
- increase in loan from general public
Explanation:
Which of the statements given below is/are correct?
(i) GNP is always higher than GDP.
(ii) If GDP is greater than GNP, then net factor income earned abroad is negative.
Select the correct answer using the codes given below.
- Only (i)
- Only (ii)
- Both (i) and (ii)
- Neither (i) nor (ii)
Explanation:
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: