MCQ on Indian Economy
Plan finance creates increase of money supply if there is
- increase in taxes
- increase in loan from the Reserve Bank of India
- increase in loan from commercial Banks
- increase in loan from general public
Explanation:
Who was the head of the 10th Finance Commission?
- K.C. Pant
- Manmohan Singh
- Vasant Sathe
- Shiv Shankar
Explanation:
SRI, which is highly practiced in Tripura is associated with:
- Rice production
- Rural internal connectivity
- E-marketing
- Regards to elders
Explanation:
The Special Economic Zones Act was passed by the Indian Parliament in 2005 and the Act came into force in:
- 2006
- 2009
- 2010
- 2012
Explanation:
GST abolishes which of the following taxes ?
- Corporation tax
- Service tax
- Income tax
- Wealth tax
Explanation:
Parallel economy refers to:
- Traditional economy
- Black money
- Agriculture based economy
- Socialist economy
Explanation:
Which is the following is direct tax ?
- Income tax
- Excise duty
- Sales tax
- None of these
Explanation:
Fiscal policy is connected with:
- exports and imports
- issue of currency
- public revenue and public expenditure
- liquidity of money
Explanation:
Who was the father of Operation Flood in India ?
- Dr. Varghese Kurien
- M. S. Swaminathan
- A P J Abdul Kalam
- Morarji Desai
Explanation: Operation Flood related to Milk Production.
Consider the following statements regarding the Goods and Services Tax (GST) of India:
(i) GST is a successor to VAT used in India on the supply of goods and services.
(ii) GST came into effect from 1st July, 2017 through the implementation of the one hundred and first Amendment of the Constitution of India.
(iii) Every decision of the GST Council is to be taken by a majority of not less than three fourths of the weighted votes of the members present and
voting at the meeting.
(iv) The GST Council is chaired by the Prime Minister of India.
Select the correct statement/statements using the codes given below.
- (i) only
- (ii) only
- (iii) and (iv) only
- (i), (ii) and (iii) only
Explanation: