MCQ on Indian Economy
Poverty is defined as:
- A monetary condition brought about by people's own laziness
- A monetary condition where people do not have enough to satisfy basic needs
- A monetary and non-monetary conditions where people lack access to community regulated common resources, opportunities and income
- All of the above
Explanation:
Thename of Prasanta Chandra Mahalanobis is associated with:
- First Five-Year Plan
- Second Five-Year Plan
- Third Five-Year Plan
- Fourth 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).
Prime Minister Jan Dhan Yojana provides free Accident Insurance upto :
- Rs. 1 lac
- Rs. 1.5 lacs
- Rs. 2 lacs
- Rs. 2.5 lacs
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:
When was National Bank of Agriculture and Rural Development (NABARD) established ?
- 6th Dec, 1947
- 6th Dec, 1982
- 5th Nov, 1982
- 7th Oct, 1982
Explanation:
Find out the statement which is false. Financial Structural reform needs
- fall in government budget deficit
- increase in profitability of economic sectors
- reduce inflationary pressure
- increase in the balance of payment deficit
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
Explanation:
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:
If the RBI adopts expansionist open market operations policy, this means that it will:
- openly announce to the market that it intends to expand credit
- sell securities in open market
- offer commercial banks more credit in the open market
- buy securities from non-government holders
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: