MCQ on Indian Economy
Which of the following does not come under the GST in India ?
- Agricultural products
- Handicrafts
- Gems and jewelries
- Petroleum products
Explanation:
First Five Year Plan started in India in the year?
- 1952
- 1956
- 1950
- 1951
Explanation: 1951-56
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
Explanation:
NITI Aayog, which replaced the Planning commission of India, was formed by a cabinet resolution of the Government of Inda on:
- 1st January, 2015
- 26th January, 2015
- 15th August, 2015
- None of the above
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:
Which of the following pairs is/are incorrectly matched?
| i. Finance Commission | : Constitutional of India |
| ii. Securities and Exchange Board of India | : Statutory Body |
| iii. NITI Aayog | : Constitutional Body |
| iv. Reserve Bank of India | : Statutory Body |
- (i) and (iii) only
- (ii) and (iv) only
- (iii) only
- (iv) only
Explanation:
If withdrawal of a worker from employment does not create any output loss, this situation is known as
- Search unemployment
- Voluntary unemployment
- Disguised unemployment
- Frictional unemployment
Explanation:
In India, Special Economic Zones were established to enhance:
- Technology Development
- Free Trade
- Foreign Investment
- Employment
Explanation:
GST abolishes which of the following taxes ?
- Corporation tax
- Service tax
- Income tax
- Wealth tax
Explanation:
Fiscal Deficit is:
- Government expenditure minus borrowings
- Government expenditure minus revenue receipts
- Same as budget deficit
- Budget deficit minus borrowings and other liabilities
Explanation: