MCQ on Indian Economy
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
Explanation:
In India the Repo rate is announced by:
- the Ministry of Finance, Government of India
- the Prime Minister of India
- the Reserve Bank of India
- the President of India
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
Explanation:
Which of the following was established in 1990 as a wholly owned subsidiary under the Small Industries Development Bank of India Act, 1989 ?
- RBI
- SIDBI
- ICICI
- NABARD
Explanation:
Consider the following statements regarding the Goods and Services Tax (GST) of India:
(i) GST is a successor to VAT used in India on the supply of goods and services.
(ii) GST came into effect from 1st July, 2017 through the implementation of the one hundred and first Amendment of the Constitution of India.
(iii) Every decision of the GST Council is to be taken by a majority of not less than three fourths of the weighted votes of the members present and
voting at the meeting.
(iv) The GST Council is chaired by the Prime Minister of India.
Select the correct statement/statements using the codes given below.
- (i) only
- (ii) only
- (iii) and (iv) only
- (i), (ii) and (iii) only
Explanation:
Assertion (A) :
The development programmes undertaken in India are oriented towards economic growth along with social justice.
Reason (R) :
Indian economy is afflicted with poverty, unemployment and inequalities.
Select the correct answer from the following options.
- Both (A) and (R) are correct, and (R) is the correct explanation for (A)
- Both (A) and (R) are correct, but (R) is not the correct explanation for (A)
- (A) is correct, but (R) is not correct
- (A) is not correct, but (R) is correct
Explanation:
In India, present trend of rapid urbanization is due to:
- lack of employment opportunities in rural areas
- influence of cinema and electronic media
- break up of joint family system
- abolition of zamindari tystem
Explanation:
Inclusive growth as enunciated in the Eleventh Five Year Plan does not include one of the following:
- Reduction of Poverty
- Extension of employment opportunities
- Strengthening of capital market
- Reduction in gender inequality
Explanation:
Which of the following is a primary sector of economic activities in India ?
- Food processing
- Telecom services
- Manufacturing industry
- Agriculture
Explanation:
Where is the headquarter of State Bank of India (SBI) situated ?
- Delhi
- Mumbai
- Pune
- Srinagar
Explanation: