MCQ on Indian Economy
Parallel economy refers to:
- Traditional economy
- Black money
- Agriculture based economy
- Socialist economy
Explanation:
Scheme run under MGNREGA are sponsored :
- by the Central Government alone
- by the State Government alone
- partly by the Central Government and partly by the State Government
- by Centre, State and Panchayat bodies together
Explanation:
The Mahalanobis strategy of Indian Planning gave emphasis to the growth of:
- Agricultural sector
- Services sector
- Heavy Capital Goods Industrial sector
- Small scale Village Industrial sector
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
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 Income Tax, Assessee is :
- a person who pays income tax
- a person who deducts income tax from its employees
- a person who prepares income tax Return of tax payers
- None of these
Explanation:
The architect of the Second Five Year Plan was :
- Mahatma Gandhi
- Subhash Chandra Bose
- P. C. Mahalanobis
- None of them
Explanation:
Tertiary sector activities include
- Cottage industries
- Mining activities
- Construction activities
- Infrastructure services
Explanation:
NPA of a commercial bank means:
- Net-Performing Asset
- New-Performing Asset
- Non-Personal Account
- Non-Performing Asset
Explanation: A non performing asset (NPA) is a loan or advance for which the principal or interest payment remained overdue for long period.
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: