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MCQ on Indian Economy

The purpose of land reforms was to :

  • increase the production in agriculture
  • increase the purchasing power of the rural population
  • ensure distributive justice with economic growth
  • all of the above
  • Correct Option: D  [ all of the above ]

    Explanation:

In India, which sector generally suffers from the problem of surplus labour ?

  • Agriculture
  • Industry
  • Service
  • All of these
  • Correct Option: A  [ Agriculture ]

    Explanation:

The Reserve Bank of India was established in the year :

  • 1930
  • 1935
  • 1940
  • 1945
  • Correct Option: B  [ 1935 ]

    Explanation: RBI Nationalized on 1st Jan, 1949.

The World Trade Organisation has replaced which organisation ?

  • ITO
  • UNCTAD
  • GATT
  • OECD
  • Correct Option: C  [ GATT ]

    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:

Which of the following products of Tripura ranks Second in all India level in terms of production ?

  • Paddy
  • Bamboo
  • Natural gas
  • Natural rubber
  • Correct Option: D  [ Natural rubber ]

    Explanation:

First Five Year Plan started in India in the year?

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

    Explanation: 1951-56

Which of the following is the role of Finance Commission ?

  • Sharing of net proceeds of taxes between the Centre and States.
  • Recommending principles for governing the grants-in-aid to the States by the Centre
  • Recommendations on matters referred to it by the President for the interest of finance
  • All of the above
  • Correct Option: D  [ All of the above ]

    Explanation:

Green revolution occurred during:

  • 1945-1955
  • 1965-1975
  • 1985-1995
  • none of these
  • Correct Option: B  [ 1965-1975 ]

    Explanation:

Which is the following is direct tax ?

  • Income tax
  • Excise duty
  • Sales tax
  • None of these
  • Correct Option: A  [ Income tax ]

    Explanation: