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MCQ on Indian Economy

The SEBI was given statutory recognition in 1992 on the recommendation of:

  • the Chakraborty Commission
  • the Chelliah Committee
  • the Tendulkar Committee
  • the Narasimham Committee
  • Correct Option: D  [ the Narasimham Committee ]

    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
  • Correct Option: C  [ States can not levy income tax ]

    Explanation:

Which industry employs the largest number of women in India ?

  • Tea
  • Textile
  • Jute
  • Coal
  • Correct Option: B  [ Textile ]

    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:

The Gandhian economy is based on the principle of:

  • Competition
  • Trusteeship
  • State Control
  • None of the above
  • Correct Option: B  [ Trusteeship ]

    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:

If the RBI adopts expansionist open market operations policy, this means that it will:

  • openly announce to the market that it intends to expand credit
  • sell securities in open market
  • offer commercial banks more credit in the open market
  • buy securities from non-government holders
  • Correct Option: B  [ sell securities in open market ]

    Explanation:

The Mahalanobis strategy of Indian Planning gave emphasis to the growth of:

  • Agricultural sector
  • Services sector
  • Heavy Capital Goods Industrial sector
  • Small scale Village Industrial sector
  • Correct Option: C  [ Heavy Capital Goods Industrial sector ]

    Explanation:

Green revolution occurred during:

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

    Explanation:

Who was the father of Operation Flood in India ?

  • Dr. Varghese Kurien
  • M. S. Swaminathan
  • A P J Abdul Kalam
  • Morarji Desai
  • Correct Option: A  [ Dr. Varghese Kurien ]

    Explanation: Operation Flood related to Milk Production.