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MCQ on Indian Economy

The Special Economic Zones Act was passed by the Indian Parliament in 2005 and the Act came into force in:

  • 2006
  • 2009
  • 2010
  • 2012
  • Correct Option: A  [ 2006 ]

    Explanation:

When two or more persons working jointly on the basis of a common plan of action, then it is called:

  • Co-operation
  • Collaboration
  • Co-ordination
  • Consulting
  • Correct Option: B  [ Collaboration ]

    Explanation:

Which prograrnme gave the slogan, Garibi Hatao ?

  • 4th Five Year Plan
  • 5th Five year plan
  • 6th Five Year Plan
  • 7th Five year plan
  • Correct Option: B  [ 5th Five year plan ]

    Explanation:

Fiscal Deficit is:

  • Government expenditure minus borrowings
  • Government expenditure minus revenue receipts
  • Same as budget deficit
  • Budget deficit minus borrowings and other liabilities
  • Correct Option: B  [ Government expenditure minus revenue receipts ]

    Explanation:

From the following statements pertaining to the World Economic Forum (WEF), find the correct statement(s) :

(i) The WEF is a platform under the International Monetary Fund (IMF).

(ii) The WEF is an independent department of the World Bank.

(iii) The WEF is an International Organization for Public-Private Cooperation.

(iv) The WEF was established in 1971 as a not-for-profit foundation and is headquartered in Geneva, Switzerland.

Select the correct answer using the codes given below.

  • Only (1)
  • Only (ii)
  • Only (iii) and (iv)
  • Only (ii) and (iii)
  • Correct Option: C  [ Only (iii) and (iv) ]

    Explanation:

'Economic Survey' is published by:

  • The Ministry of Finance
  • The Planning Commission
  • The Government of India
  • The Central Statistical Organization
  • Correct Option: A  [ The Ministry of Finance ]

    Explanation:

Which organisation looks after the credit need of agriculture and rural development in India ?

  • FCI
  • IDBI
  • NABARD
  • ICAR
  • Correct Option: C  [ NABARD ]

    Explanation:

If the Cash Reserve Ratio (CRR) is lowered by the RBI, its impact on credit creation will be to :

  • decrease it
  • increase it
  • No impact
  • None of these
  • Correct Option: B  [ increase it ]

    Explanation:

Who was the first Governor of Reserve Bank of India (RBI)?

  • C D Deshmukh
  • Sir Osborne Smith
  • James Braid Taylor
  • Benegal Rama Rau
  • Correct Option: B  [ Sir Osborne Smith ]

    Explanation: from 1935 to 1937

Economic growth is usually coupled with ___________.

  • deflation
  • inflation
  • Stagflation
  • hyper inflation
  • Correct Option: B  [ inflation ]

    Explanation: