MCQ on Indian Economy
Which one of the following is the main source of revenue for the states ?
- Property tax
- Sales tax
- Excise duty
- None of these
Explanation:
NPA of a commercial bank means:
- Net-Performing Asset
- New-Performing Asset
- Non-Personal Account
- Non-Performing Asset
Explanation: A non performing asset (NPA) is a loan or advance for which the principal or interest payment remained overdue for long period.
Chairman of the 15th Finance Commission of India-
- NK Singh
- YV Reddy
- Ranghuram Rajan
- Ramesh Chand
Explanation:
The SEBI was given statutory recognition in 1992 on the recommendation of:
- the Chakraborty Commission
- the Chelliah Committee
- the Tendulkar Committee
- the Narasimham Committee
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
Explanation:
Which of the following is true in respect of Centre-State financial relations ?
- Amount given by Centre is the only source of income to States
- States can by-pass Centre while taking foreign loans
- States can not levy income tax
- States can claim 100 % share in excise duty on goods produced in the State
Explanation:
The period of high inflation and low economic growth is termed as:
- Stagnation
- Take-off stage in economy
- Stagflation
- Depression
Explanation:
First Five Year Plan started in India in the year?
- 1952
- 1956
- 1950
- 1951
Explanation: 1951-56
Which of the statements given below is/are correct?
(i) GNP is always higher than GDP.
(ii) If GDP is greater than GNP, then net factor income earned abroad is negative.
Select the correct answer using the codes given below.
- Only (i)
- Only (ii)
- Both (i) and (ii)
- Neither (i) nor (ii)
Explanation:
Tertiary sector activities include
- Cottage industries
- Mining activities
- Construction activities
- Infrastructure services
Explanation: