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MCQ on Indian Economy

Which of the following Committees are related to Banking reforms:
i) Narsimham Committee
ii) P J Nayak Committee
iii) Sunil Mehta Committee
iv) Nachiket Mor Committee

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

    Explanation:

The highest body which approves the Five Year Plan in India is :

  • Parliament
  • Planning Commission
  • National Development Council
  • Finance Commission
  • Correct Option: C  [ National Development Council ]

    Explanation:

In India, National Income is computed by :

  • Ministry of Fianance
  • Central Statistical Organisation
  • National Development Council
  • Finance Commission
  • Correct Option: B  [ Central Statistical Organisation ]

    Explanation:

Government imposes taxes to:

  • run the machinery of State
  • uplift of weaker sections
  • check the accumulation of wealth among the rich
  • None of the above
  • Correct Option: A  [ run the machinery of State ]

    Explanation:

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
  • Correct Option: A  [ 15th August, 2014 ]

    Explanation:

The Gandhian economy is based on the principle of:

  • Competition
  • Trusteeship
  • State Control
  • None of the above
  • Correct Option: B  [ Trusteeship ]

    Explanation:

Planning Commission of India was set up by :

  • Morarji Desai
  • T T Krishnamachari
  • Jawaharlal Nehru
  • None of the above
  • Correct Option: C  [ Jawaharlal Nehru ]

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

    Explanation:

Who is the Chairman of the Fifteenth Finance Commission of India ?

  • Anurag Thakur
  • V. K. Singh
  • R. Jain
  • N. K. Singh
  • Correct Option: D  [ N. K. Singh ]

    Explanation:

If the Cash Reserve Ratio (CRR) is lowered by the RBI, its impact on credit creation will be to :

  • decrease it
  • increase it
  • No impact
  • None of these
  • Correct Option: B  [ increase it ]

    Explanation: