MCQ on Indian Economy
Who was the first Governor of Reserve Bank of India (RBI)?
- C D Deshmukh
- Sir Osborne Smith
- James Braid Taylor
- Benegal Rama Rau
Explanation: from 1935 to 1937
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:
If the RBI adopts expansionist open market operations policy, this means that it will:
- openly announce to the market that it intends to expand credit
- sell securities in open market
- offer commercial banks more credit in the open market
- buy securities from non-government holders
Explanation:
Which period in India is known as plan holiday ?
- 1961-1966
- 1965-1966
- 1966-1969
- 1969-1974
Explanation:
If withdrawal of a worker from employment does not create any output loss, this situation is known as
- Search unemployment
- Voluntary unemployment
- Disguised unemployment
- Frictional unemployment
Explanation:
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:
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:
Planning Commission of India was set up by :
- Morarji Desai
- T T Krishnamachari
- Jawaharlal Nehru
- None of the above
Explanation:
Where is the headquarter of Reserve Bank of India (RBI) situated ?
- Chennai
- New Delhi
- Kolkata
- Mumbai
Explanation: Established in Calcutta but shifted to Mumbai in 1937.
Pradhan Mantri Jan Dhan Yojana was first announced by Hon'ble Prime Minister Modi on:
- 15th August, 2014
- 28th August, 2015
- 26th January, 2016
- None of the above
Explanation: