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MCQ on Indian Economy

Major part of the Indian agriculture is characterized by

  • Large size farm
  • Capitalist agriculture
  • Small size farm
  • Co-operative farm
    • Correct Option: C  [ Small size farm ]

    Explanation:

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
    • Correct Option: A  [ 1st January, 2015 ]

    Explanation:

The full form of GST is:

  • General Sales Tax
  • Goods and Services Tax
  • Government Special Tax
  • General Service Tax
    • Correct Option: B  [ Goods and Services Tax ]

    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:

Gilt-edged market means:

  • Market of government securities
  • Bullion market
  • Market of commodities
  • Market of pure metals
    • Correct Option: A  [ Market of government securities ]

    Explanation:

If withdrawal of a worker from employment does not create any output loss, this situation is known as

  • Search unemployment
  • Voluntary unemployment
  • Disguised unemployment
  • Frictional unemployment
    • Correct Option: C  [ Disguised unemployment ]

    Explanation:

Where is the headquarter of Reserve Bank of India (RBI) situated ?

  • Chennai
  • New Delhi
  • Kolkata
  • Mumbai
    • Correct Option: D  [ Mumbai ]

    Explanation: Established in Calcutta but shifted to Mumbai in 1937.

NABARD stands for:

  • National Activated Bank for Agriculture and Rural Development
  • National Bank for Agriculture and Rural Development
  • National Agricultural Backward and Rural Development
  • National Bank for Accelerated Rural Development
    • Correct Option: B  [ National Bank for Agriculture and Rural Development ]

    Explanation:

When two or more persons working jointly on the basis of a common plan of action, then it is called:

  • Co-operation
  • Collaboration
  • Co-ordination
  • Consulting
    • Correct Option: B  [ Collaboration ]

    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:
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