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MCQ on Indian Economy

Fiscal policy is connected with:

  • exports and imports
  • issue of currency
  • public revenue and public expenditure
  • liquidity of money
    • Correct Option: C  [ public revenue and public expenditure ]

    Explanation:

Which of the following does not come under the GST in India ?

  • Agricultural products
  • Handicrafts
  • Gems and jewelries
  • Petroleum products
    • Correct Option: D  [ Petroleum products ]

    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
    • Correct Option: A  [ lack of employment opportunities in rural areas ]

    Explanation:

The World Trade Organisation has replaced which organisation ?

  • ITO
  • UNCTAD
  • GATT
  • OECD
    • Correct Option: C  [ GATT ]

    Explanation:

Who was the father of Operation Flood in India ?

  • Dr. Varghese Kurien
  • M. S. Swaminathan
  • A P J Abdul Kalam
  • Morarji Desai
    • Correct Option: A  [ Dr. Varghese Kurien ]

    Explanation: Operation Flood related to Milk Production.

Who was the first Governor of Reserve Bank of India (RBI)?

  • C D Deshmukh
  • Sir Osborne Smith
  • James Braid Taylor
  • Benegal Rama Rau
    • Correct Option: B  [ Sir Osborne Smith ]

    Explanation: from 1935 to 1937

Plan finance creates increase of money supply if there is

  • increase in taxes
  • increase in loan from the Reserve Bank of India
  • increase in loan from commercial Banks
  • increase in loan from general public
    • Correct Option: A  [ increase in taxes ]

    Explanation:

In order to control inflationary price rise, Reserve Bank directs Banks to

  • Reduce rate of interest on credit
  • Reduce Statutory Liquidity Ratio (SLR)
  • Increase Cash Reserve Ratio (CRR)
  • Buy bonds from capital market
    • Correct Option: C  [ Increase Cash Reserve Ratio (CRR) ]

    Explanation:

SRI, which is highly practiced in Tripura is associated with:

  • Rice production
  • Rural internal connectivity
  • E-marketing
  • Regards to elders
    • Correct Option: A  [ Rice production ]

    Explanation:

National Development Council was set up in:

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

    Explanation:
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