National Development Council was set up in:

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

Explanation:

The Plan launched in the 50th year of Indian Independence was :

• Sixth five year plan
• Eighth five year plan
• Ninth five year plan
• Tenth five year plan
Solution
Correct Option: C  [ Ninth five year plan ]

Explanation:

If the Cash Reserve Ratio (CRR) is lowered by the RBI, its impact on credit creation will be to :

• decrease it
• increase it
• No impact
• None of these
Solution
Correct Option: B  [ increase it ]

Explanation:

The highest body which approves the Five Year Plan in India is :

• Parliament
• Planning Commission
• National Development Council
• Finance Commission
Solution
Correct Option: C  [ National Development Council ]

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
Solution
Correct Option: D  [ It is the rate at which RBI lends to banks ]

Explanation:

The Mahalanobis strategy of Indian Planning gave emphasis to the growth of:

• Agricultural sector
• Services sector
• Heavy Capital Goods Industrial sector
• Small scale Village Industrial sector
Solution
Correct Option: C  [ Heavy Capital Goods Industrial sector ]

Explanation:

Economic growth is usually coupled with ___________.

• deflation
• inflation
• Stagflation
• hyper inflation
Solution
Correct Option: B  [ inflation ]

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
Solution
Correct Option: C  [ It is a State Government's scheme ]

Explanation:

Which of the following is true in respect of Centre-State financial relations ?

• Amount given by Centre is the only source of income to States
• States can by-pass Centre while taking foreign loans
• States can not levy income tax
• States can claim 100 % share in excise duty on goods produced in the State
Solution
Correct Option: C  [ States can not levy income tax ]

Explanation:

The full form of GST is:

• General Sales Tax
• Goods and Services Tax
• Government Special Tax
• General Service Tax
Solution
Correct Option: B  [ Goods and Services Tax ]

Explanation: