MCQ on Indian Economy
Planning Commission of India was set up by :
- Morarji Desai
- T T Krishnamachari
- Jawaharlal Nehru
- None of the above
Explanation:
The qualification for the Chairman and the members of the Finance Commission are specified in:
- Finance Act of 1951
- Finance Act of 1952
- Finance Act of 1950
- Finance Act of 1953
Explanation:
The Iron and Steel plants of Rourkela and Durgapur were conceived under the:
- First Five Year Plan
- Second Five Year Plan
- Third Five Year Plan
- Fourth Five Year Plan
Explanation:
Assertion (A) :
The development programmes undertaken in India are oriented towards economic growth along with social justice.
Reason (R) :
Indian economy is afflicted with poverty, unemployment and inequalities.
Select the correct answer from the following options.
- Both (A) and (R) are correct, and (R) is the correct explanation for (A)
- Both (A) and (R) are correct, but (R) is not the correct explanation for (A)
- (A) is correct, but (R) is not correct
- (A) is not correct, but (R) is correct
Explanation:
Which of the following is not an asset held by the commercial bank ?
- Bills of exchange
- Current account deposits
- Money lent at short notice
- Credit balances with the Reserve Bank
Explanation:
Which organisation looks after the credit need of agriculture and rural development in India ?
- FCI
- IDBI
- NABARD
- ICAR
Explanation:
Who prints and supplies the currency notes in India:
- State Bank of India
- United Bank of India
- Reserve Bank of India
- United Commercial Bank of India
Explanation:
In order to control inflationary price rise, Reserve Bank directs Banks to
- Reduce rate of interest on credit
- Reduce Statutory Liquidity Ratio (SLR)
- Increase Cash Reserve Ratio (CRR)
- Buy bonds from capital market
Explanation:
Who was the father of Operation Flood in India ?
- Dr. Varghese Kurien
- M. S. Swaminathan
- A P J Abdul Kalam
- Morarji Desai
Explanation: Operation Flood related to Milk Production.
The equilibrium condition for money market is:
- demand for money should be equal to supply of money
- cash in hand should be equal to deposits in bank
- saving is equal to investment
- bank rate is equal to repo rate
Explanation: