MCQ on Indian Economy
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
Explanation:
Which of the following is the role of Finance Commission ?
- Sharing of net proceeds of taxes between the Centre and States.
- Recommending principles for governing the grants-in-aid to the States by the Centre
- Recommendations on matters referred to it by the President for the interest of finance
- All of the above
Explanation:
Which is the following is direct tax ?
- Income tax
- Excise duty
- Sales tax
- None of these
Explanation:
The earlier name of WTO was:
- UNCTAD
- GATT
- UNIDO
- OECD
Explanation: General Agreement on Trade and Tariffs (GATT) under the Marrakesh Agreement. The World Trade Organization (WTO) began journey on 1 January 1995.
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
Explanation:
The period of high inflation and low economic growth is termed as:
- Stagnation
- Take-off stage in economy
- Stagflation
- Depression
Explanation:
Three annual plans were launched between:
- 1969 to 1972
- 1986 to 1989
- 1990 to 1993
- 1966 to 1969
Explanation:
Thename of Prasanta Chandra Mahalanobis is associated with:
- First Five-Year Plan
- Second Five-Year Plan
- Third Five-Year Plan
- Fourth Five-Year Plan
Explanation: Prof. Prasanta Chandra Mahalanobis is also known as the father of Indian Statistics, architect of the Second Five-Year Plan (1956–61).
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:
From the following statements pertaining to the World Economic Forum (WEF), find the correct
statement(s) :
(i) The WEF is a platform under the International Monetary Fund (IMF).
(ii) The WEF is an independent department of the World Bank.
(iii) The WEF is an International Organization for Public-Private Cooperation.
(iv) The WEF was established in 1971 as a not-for-profit foundation and is headquartered in Geneva, Switzerland.
Select the correct answer using the codes given below.
- Only (1)
- Only (ii)
- Only (iii) and (iv)
- Only (ii) and (iii)
Explanation: