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MCQ on Indian Economy

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:

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:

Find out the statement which is false.
Financial Structural reform needs

  • fall in government budget deficit
  • increase in profitability of economic sectors
  • reduce inflationary pressure
  • increase in the balance of payment deficit
  • Correct Option: D  [ increase in the balance of payment deficit ]

    Explanation:

New Industrial Policy of India was introduced in the year:

  • 1990
  • 1991
  • 1992
  • 1993
  • Correct Option: B  [ 1991 ]

    Explanation:

In India the Repo rate is announced by:

  • the Ministry of Finance, Government of India
  • the Prime Minister of India
  • the Reserve Bank of India
  • the President of India
  • Correct Option: C  [ the Reserve Bank of India ]

    Explanation:

The basic regulatory authority for mutual funds and stock markets lies with the:

  • Stock exchanges
  • Government of India
  • Reserve Bank of India
  • Securities and Exchange Board of India.
  • Correct Option: D  [ Securities and Exchange Board of India. ]

    Explanation:

Which one of the following is an indirect tax levied by the Central Government in India ?

  • Service tax
  • Corporate Income tax
  • Profession tax
  • Agricultural Income tax
  • Correct Option: A  [ Service tax ]

    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:

Who was the head of the 10th Finance Commission?

  • K.C. Pant
  • Manmohan Singh
  • Vasant Sathe
  • Shiv Shankar
  • Correct Option: A  [ K.C. Pant ]

    Explanation:

The LPG model of development was introduced by India since:

  • 1991
  • 1992
  • 1993
  • 1994
  • Correct Option: A  [ 1991 ]

    Explanation: