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MCQ on Indian Economy

Which of the following is a primary sector of economic activities in India ?

  • Food processing
  • Telecom services
  • Manufacturing industry
  • Agriculture
  • Correct Option: D  [ Agriculture ]

    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
  • Correct Option: B  [ Current account deposits ]

    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
  • Correct Option: C  [ Increase Cash Reserve Ratio (CRR) ]

    Explanation:

Which institution in India controls the monetary policy of Indian currency?

  • Finance Commission
  • The Finance Ministry of India
  • The Reserve Bank of India
  • None of the above
  • Correct Option: C  [ The Reserve Bank of India ]

    Explanation:

NABARD stands for:

  • National Activated Bank for Agriculture and Rural Development
  • National Bank for Agriculture and Rural Development
  • National Agricultural Backward and Rural Development
  • National Bank for Accelerated Rural Development
  • Correct Option: B  [ National Bank for Agriculture and Rural Development ]

    Explanation:

About Deendayal Antyodaya Yojana (DAY) which of the following is not correct ?

  • It focuses on both the rural and urban areas
  • It aims at skill development.
  • It is a State Government's scheme
  • It has replaced Ajeevika
  • Correct Option: C  [ It is a State Government's scheme ]

    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:

Chairman of the 15th Finance Commission of India-

  • NK Singh
  • YV Reddy
  • Ranghuram Rajan
  • Ramesh Chand
  • Correct Option: A  [ NK Singh ]

    Explanation:

Which among the following in India has the function of recommending Minimum Support Prices for various commodities to the Government ?

  • National Farmers Commission
  • Commission for Agricultural Costs and Prices
  • Central Statistical organization
  • Department of Agriculture
  • Correct Option: B  [ Commission for Agricultural Costs and Prices ]

    Explanation:

SRI, which is highly practiced in Tripura is associated with:

  • Rice production
  • Rural internal connectivity
  • E-marketing
  • Regards to elders
  • Correct Option: A  [ Rice production ]

    Explanation: