The Reserve Bank of India was established in the year :

• 1930
• 1935
• 1940
• 1945
Correct Option: B  [ 1935 ]

Remark: RBI Nationalized on 1st Jan, 1949.

Government imposes taxes to:

• run the machinery of State
• uplift of weaker sections
• check the accumulation of wealth among the rich
• None of the above
Correct Option: A  [ run the machinery of State ]

Remark:

In India, National Income is computed by :

• Ministry of Fianance
• Central Statistical Organisation
• National Development Council
• Finance Commission
Correct Option: B  [ Central Statistical Organisation ]

Remark:

Major part of the Indian agriculture is characterized by

• Large size farm
• Capitalist agriculture
• Small size farm
• Co-operative farm
Correct Option: C  [ Small size farm ]

Remark:

In India, which sector generally suffers from the problem of surplus labour ?

• Agriculture
• Industry
• Service
• All of these
Correct Option: A  [ Agriculture ]

Remark:

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
Correct Option: A  [ Finance Act of 1951 ]

Remark:

New Industrial Policy of India was introduced in the year:

• 1990
• 1991
• 1992
• 1993
Correct Option: B  [ 1991 ]

Remark:

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 ]

Remark:

Mixed economy means an economy where:

• There is co-existence of public sector along with private sector
• Both agriculture and Industry are equally promoted by the state
• There is importance of small scale industries along with heavy industries
• Economy is controlled by military as well as civilian rulers
Correct Option: A  [ There is co-existence of public sector along with private sector ]

Remark:

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 ]

Remark: