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MCQ on Indian Economy

National Development Council was set up in:

  • 1950
  • 1951
  • 1952
  • 1954
    • Correct Option: C  [ 1952 ]

    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:

ICDS was first introduced in India in the year

  • 1975
  • 1977
  • 1979
  • None of these
    • Correct Option: A  [ 1975 ]

    Explanation:

The architect of the Second Five Year Plan was :

  • Mahatma Gandhi
  • Subhash Chandra Bose
  • P. C. Mahalanobis
  • None of them
    • Correct Option: C  [ P. C. Mahalanobis ]

    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
    • Correct Option: D  [ increase in the balance of payment deficit ]

    Explanation:

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
    • Correct Option: C  [ A monetary and non-monetary conditions where people lack access to community regulated common resources, opportunities and income ]

    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
    • Correct Option: B  [ sell securities in open market ]

    Explanation:

What is the 'Repo rate' ?

  • It is the rate at which International Aid Agencies lend to RBI
  • It is the rate at which the banks lend to RBI
  • It is the rate at which RBI borrows from the market
  • It is the rate at which RBI lends to banks
    • Correct Option: D  [ It is the rate at which RBI lends to banks ]

    Explanation:

Which one of the following is the main source of revenue for the states ?

  • Property tax
  • Sales tax
  • Excise duty
  • None of these
    • Correct Option: B  [ Sales tax ]

    Explanation:

Which activity is not included in service sector ?

  • Trade, hotels and restaurants
  • Real estate, finance and insurance
  • Transport and communication
  • Electricity, gas and water supply
    • Correct Option: D  [ Electricity, gas and water supply ]

    Explanation:
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