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MCQ on Indian Economy

The full form of GST is:

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

    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:

Three annual plans were launched between:

  • 1969 to 1972
  • 1986 to 1989
  • 1990 to 1993
  • 1966 to 1969
    • Correct Option: D  [ 1966 to 1969 ]

    Explanation:

What is hard currency?

  • A stable currency
  • Arranged in war time
  • Issued by IMF
  • Given by RBI to foreign banks
    • Correct Option: A  [ A stable currency ]

    Explanation:

Which industry employs the largest number of women in India ?

  • Tea
  • Textile
  • Jute
  • Coal
    • Correct Option: B  [ Textile ]

    Explanation:

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
    • Correct Option: B  [ Commission for Agricultural Costs and Prices ]

    Explanation:

Gilt-edged market means:

  • Market of government securities
  • Bullion market
  • Market of commodities
  • Market of pure metals
    • Correct Option: A  [ Market of government securities ]

    Explanation:

Who is the Chairman of the Fifteenth Finance Commission of India ?

  • Anurag Thakur
  • V. K. Singh
  • R. Jain
  • N. K. Singh
    • Correct Option: D  [ N. K. Singh ]

    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
    • Correct Option: C  [ States can not levy income tax ]

    Explanation:

The LPG model of development was introduced by India since:

  • 1991
  • 1992
  • 1993
  • 1994
    • Correct Option: A  [ 1991 ]

    Explanation:
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