MCQ on Indian Economy
The Special Economic Zones Act was passed by the Indian Parliament in 2005 and the Act came into force in:
- 2006
- 2009
- 2010
- 2012
Explanation:
The purpose of land reforms was to :
- increase the production in agriculture
- increase the purchasing power of the rural population
- ensure distributive justice with economic growth
- all of the above
Explanation:
ICDS was first introduced in India in the year
- 1975
- 1977
- 1979
- None of these
Explanation:
Which of the statements given below is/are correct?
(i) GNP is always higher than GDP.
(ii) If GDP is greater than GNP, then net factor income earned abroad is negative.
Select the correct answer using the codes given below.
- Only (i)
- Only (ii)
- Both (i) and (ii)
- Neither (i) nor (ii)
Explanation:
In India, National Income is computed by :
- Ministry of Fianance
- Central Statistical Organisation
- National Development Council
- Finance Commission
Explanation:
National Development Council was set up in:
- 1950
- 1951
- 1952
- 1954
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
Explanation:
The full form of GST is:
- General Sales Tax
- Goods and Services Tax
- Government Special Tax
- General Service Tax
Explanation:
Economic growth is usually coupled with ___________.
- deflation
- inflation
- Stagflation
- hyper inflation
Explanation:
A closed economy is an economy in which:
- the money supply is fully controlled
- deficit financing takes place
- only exports take place
- Neither exports nor imports take place.
Explanation: