MCQ on Indian Economy
NITI Aayog, which replaced the Planning commission of India, was formed by a cabinet resolution of the Government of Inda on:
- 1st January, 2015
- 26th January, 2015
- 15th August, 2015
- None of the above
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:
Which of the following sources provides highest tax revenue to Government of India?
- Personal Income Tax
- Excise Duty
- Corporation Tax
- Customs Duty
Explanation:
In India, National Income is computed by :
- Ministry of Fianance
- Central Statistical Organisation
- National Development Council
- Finance Commission
Explanation:
Which of the following is a primary sector of economic activities in India ?
- Food processing
- Telecom services
- Manufacturing industry
- Agriculture
Explanation:
The growth of per capita income of current prices is higher than that of per capita income at constant prices because the later takes into account the rate of
- growth of population
- increase in price level
- growth of money supply
- increase in the wage rate
Explanation:
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:
Gilt-edged market means:
- Market of government securities
- Bullion market
- Market of commodities
- Market of pure metals
Explanation:
The qualification for the Chairman and the members of the Finance Commission are specified in:
- Finance Act of 1951
- Finance Act of 1952
- Finance Act of 1950
- Finance Act of 1953
Explanation:
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: