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MCQ on Indian Economy


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The Iron and Steel plants of Rourkela and Durgapur were conceived under the:

  • First Five Year Plan
  • Second Five Year Plan
  • Third Five Year Plan
  • Fourth Five Year Plan
Correct Option: B  [ Second Five Year Plan ]

Explanation:

National Development Council was set up in:

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

Explanation:

In India, Special Economic Zones were established to enhance:

  • Technology Development
  • Free Trade
  • Foreign Investment
  • Employment
Correct Option: B  [ Free Trade ]

Explanation:

Who was the head of the 10th Finance Commission?

  • K.C. Pant
  • Manmohan Singh
  • Vasant Sathe
  • Shiv Shankar
Correct Option: A  [ K.C. Pant ]

Explanation:

In which year the Planning commission was set-up?

  • 1949
  • 1950
  • 1951
  • 1952
Correct Option: B  [ 1950 ]

Explanation:

Which one of the following is an indirect tax levied by the Central Government in India ?

  • Service tax
  • Corporate Income tax
  • Profession tax
  • Agricultural Income tax
Correct Option: A  [ Service tax ]

Explanation:

The Special Economic Zones Act was passed by the Indian Parliament in 2005 and the Act came into force in:

  • 2006
  • 2009
  • 2010
  • 2012
Correct Option: A  [ 2006 ]

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
Correct Option: C  [ the Reserve Bank of India ]

Explanation:

The SEBI was given statutory recognition in 1992 on the recommendation of:

  • the Chakraborty Commission
  • the Chelliah Committee
  • the Tendulkar Committee
  • the Narasimham Committee
Correct Option: D  [ the Narasimham Committee ]

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
Correct Option: C  [ Heavy Capital Goods Industrial sector ]

Explanation:
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