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MCQ on Indian Economy

First Five Year Plan started in India in the year?

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

    Explanation: 1951-56

Poverty is defined as:

  • A monetary condition brought about by people's own laziness
  • A monetary condition where people do not have enough to satisfy basic needs
  • A monetary and non-monetary conditions where people lack access to community regulated common resources, opportunities and income
  • All of the above
    • Correct Option: C  [ A monetary and non-monetary conditions where people lack access to community regulated common resources, opportunities and income ]

    Explanation:

Which period in India is known as plan holiday ?

  • 1961-1966
  • 1965-1966
  • 1966-1969
  • 1969-1974
    • Correct Option: C  [ 1966-1969 ]

    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:

Which of the following sector gives the largest income in India ?

  • Trade sector
  • Railway
  • Agriculture
  • Service sector
    • Correct Option: D  [ Service sector ]

    Explanation:

What is hard currency?

  • A stable currency
  • Arranged in war time
  • Issued by IMF
  • Given by RBI to foreign banks
    • Correct Option: A  [ A stable currency ]

    Explanation:

The Plan launched in the 50th year of Indian Independence was :

  • Sixth five year plan
  • Eighth five year plan
  • Ninth five year plan
  • Tenth five year plan
    • Correct Option: C  [ Ninth five year plan ]

    Explanation:

Existence of huge black money creates

  • increase in the inequality of income
  • decrease in the quality of output
  • high living standard for all
  • Both (B) and (C)
    • Correct Option: A  [ increase in the inequality of income ]

    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:

Tertiary sector activities include

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

    Explanation:
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