MCQ on Indian Economy
New Industrial Policy of India was introduced in the year:
- 1990
- 1991
- 1992
- 1993
Explanation:
National Development Council was set up in:
- 1950
- 1951
- 1952
- 1954
Explanation:
In the context of Indias Five Year Plans a shift in the pattern of industrialisation with lower emphasis on heavy industries and more on infrastructure begin in:
- Fourth Plan
- Sixth Plan
- Eight Plan
- Tenth Plan
Explanation:
Match the following :
| List-I | List-II | ||
|---|---|---|---|
| a. | Monetary Policy Committee | 1. | Union Home Minister |
| b. | GST Council | 2. | Union Finance Minister |
| c. | NITI Aayog | 3. | RBI Governor |
| d. | Cabinet Committee on Parliamentary Affairs | 4. | Prime Minister of India |
- a-2, b-3, c-4, d-1
- a-3, b-2, c-4, d-1
- a-3, b-2, c-1, d-4
- a-2, b-3, c-1, d-4
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:
Who prints and supplies the currency notes in India:
- State Bank of India
- United Bank of India
- Reserve Bank of India
- United Commercial Bank of India
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:
The Reserve Bank of India was established in the year :
- 1930
- 1935
- 1940
- 1945
Explanation: RBI Nationalized on 1st Jan, 1949.
GST abolishes which of the following taxes ?
- Corporation tax
- Service tax
- Income tax
- Wealth tax
Explanation:
The period of high inflation and low economic growth is termed as:
- Stagnation
- Take-off stage in economy
- Stagflation
- Depression
Explanation: