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MCQ on Indian Economy

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:

What is the 'Repo rate' ?

  • It is the rate at which International Aid Agencies lend to RBI
  • It is the rate at which the banks lend to RBI
  • It is the rate at which RBI borrows from the market
  • It is the rate at which RBI lends to banks
  • Correct Option: D  [ It is the rate at which RBI lends to banks ]

    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:

When was National Bank of Agriculture and Rural Development (NABARD) established ?

  • 6th Dec, 1947
  • 6th Dec, 1982
  • 5th Nov, 1982
  • 7th Oct, 1982
  • Correct Option: C  [ 5th Nov, 1982 ]

    Explanation:

Green revolution occurred during:

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

    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.

Which of the following Committees are related to Banking reforms:
i) Narsimham Committee
ii) P J Nayak Committee
iii) Sunil Mehta Committee
iv) Nachiket Mor Committee

  • (i), (ii) and (iii) only
  • (ii), (iii) and (iv) only
  • (i) and (iv) only
  • (i), (ii), (iii) and (iv)
  • Correct Option: D  [ (i), (ii), (iii) and (iv) ]

    Explanation:

In Income Tax, Assessee is :

  • a person who pays income tax
  • a person who deducts income tax from its employees
  • a person who prepares income tax Return of tax payers
  • None of these
  • Correct Option: A  [ a person who pays income tax ]

    Explanation:

Prime Minister Jan Dhan Yojana provides free Accident Insurance upto :

  • Rs. 1 lac
  • Rs. 1.5 lacs
  • Rs. 2 lacs
  • Rs. 2.5 lacs
  • Correct Option: A  [ Rs. 1 lac ]

    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: