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MCQ on Indian Economy

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)
  • Correct Option: C  [ Only (iii) and (iv) ]

    Explanation:

First Five Year Plan started in India in the year?

  • 1952
  • 1956
  • 1950
  • 1951
  • Correct Option: D  [ 1951 ]

    Explanation: 1951-56

In which year the Planning commission was set-up?

  • 1949
  • 1950
  • 1951
  • 1952
  • Correct Option: B  [ 1950 ]

    Explanation:

Tertiary sector activities include

  • Cottage industries
  • Mining activities
  • Construction activities
  • Infrastructure services
  • Correct Option: D  [ Infrastructure services ]

    Explanation:

The Mahalanobis strategy of Indian Planning gave emphasis to the growth of:

  • Agricultural sector
  • Services sector
  • Heavy Capital Goods Industrial sector
  • Small scale Village Industrial sector
  • Correct Option: C  [ Heavy Capital Goods Industrial sector ]

    Explanation:

Which of the following pairs is/are incorrectly matched?
i. Finance Commission : Constitutional of India
ii. Securities and Exchange Board of India : Statutory Body
iii. NITI Aayog : Constitutional Body
iv. Reserve Bank of India : Statutory Body
Select the correct answer using the codes given below.

  • (i) and (iii) only
  • (ii) and (iv) only
  • (iii) only
  • (iv) only
  • Correct Option: C  [ (iii) only ]

    Explanation:

Economic growth is usually coupled with ___________.

  • deflation
  • inflation
  • Stagflation
  • hyper inflation
  • Correct Option: B  [ inflation ]

    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
  • Correct Option: D  [ All of the above ]

    Explanation:

"Swadesh Darshan" is:

  • a scheme for development of tourism infrastructure
  • related with transportation service for sightseeing in Tripura
  • a Char Dham Yatra
  • visit to a natural scenery
  • Correct Option: A  [ a scheme for development of tourism infrastructure ]

    Explanation:

Plan finance creates increase of money supply if there is

  • increase in taxes
  • increase in loan from the Reserve Bank of India
  • increase in loan from commercial Banks
  • increase in loan from general public
  • Correct Option: A  [ increase in taxes ]

    Explanation: