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MCQ on Indian Economy

Thename of Prasanta Chandra Mahalanobis is associated with:

  • First Five-Year Plan
  • Second Five-Year Plan
  • Third Five-Year Plan
  • Fourth Five-Year Plan
  • Correct Option: B  [ Second Five-Year Plan ]

    Explanation: Prof. Prasanta Chandra Mahalanobis is also known as the father of Indian Statistics, architect of the Second Five-Year Plan (1956–61).

"Swadesh Darshan" is:

  • a scheme for development of tourism infrastructure
  • related with transportation service for sightseeing in Tripura
  • a Char Dham Yatra
  • visit to a natural scenery
  • Correct Option: A  [ a scheme for development of tourism infrastructure ]

    Explanation:

When two or more persons working jointly on the basis of a common plan of action, then it is called:

  • Co-operation
  • Collaboration
  • Co-ordination
  • Consulting
  • Correct Option: B  [ Collaboration ]

    Explanation:

In India, Special Economic Zones were established to enhance:

  • Technology Development
  • Free Trade
  • Foreign Investment
  • Employment
  • Correct Option: B  [ Free Trade ]

    Explanation:

In the context of Indias Five Year Plans a shift in the pattern of industrialisation with lower emphasis on heavy industries and more on infrastructure begin in:

  • Fourth Plan
  • Sixth Plan
  • Eight Plan
  • Tenth Plan
  • Correct Option: B  [ Sixth Plan ]

    Explanation:

Which one of the following is an indirect tax levied by the Central Government in India ?

  • Service tax
  • Corporate Income tax
  • Profession tax
  • Agricultural Income tax
  • Correct Option: A  [ Service tax ]

    Explanation:

The growth of per capita income of current prices is higher than that of per capita income at constant prices because the later takes into account the rate of

  • growth of population
  • increase in price level
  • growth of money supply
  • increase in the wage rate
  • Correct Option: B  [ increase in price level ]

    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
  • Correct Option: A  [ increase in taxes ]

    Explanation:

Which of the following Committees are related to Banking reforms:
i) Narsimham Committee
ii) P J Nayak Committee
iii) Sunil Mehta Committee
iv) Nachiket Mor Committee

  • (i), (ii) and (iii) only
  • (ii), (iii) and (iv) only
  • (i) and (iv) only
  • (i), (ii), (iii) and (iv)
  • Correct Option: D  [ (i), (ii), (iii) and (iv) ]

    Explanation:

The period of high inflation and low economic growth is termed as:

  • Stagnation
  • Take-off stage in economy
  • Stagflation
  • Depression
  • Correct Option: C  [ Stagflation ]

    Explanation: