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MCQ on Indian Economy

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)
  • Correct Option: B  [ Only (ii) ]

    Explanation:

Which of the following does not come under the GST in India ?

  • Agricultural products
  • Handicrafts
  • Gems and jewelries
  • Petroleum products
  • Correct Option: D  [ Petroleum products ]

    Explanation:

Which of the following is a primary sector of economic activities in India ?

  • Food processing
  • Telecom services
  • Manufacturing industry
  • Agriculture
  • Correct Option: D  [ Agriculture ]

    Explanation:

Which among the following in India has the function of recommending Minimum Support Prices for various commodities to the Government ?

  • National Farmers Commission
  • Commission for Agricultural Costs and Prices
  • Central Statistical organization
  • Department of Agriculture
  • Correct Option: B  [ Commission for Agricultural Costs and Prices ]

    Explanation:

NPA of a commercial bank means:

  • Net-Performing Asset
  • New-Performing Asset
  • Non-Personal Account
  • Non-Performing Asset
  • Correct Option: D  [ 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.

Green revolution occurred during:

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

    Explanation:

NABARD stands for:

  • National Activated Bank for Agriculture and Rural Development
  • National Bank for Agriculture and Rural Development
  • National Agricultural Backward and Rural Development
  • National Bank for Accelerated Rural Development
  • Correct Option: B  [ National Bank for Agriculture and Rural Development ]

    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:

Which of the following was established in 1990 as a wholly owned subsidiary under the Small Industries Development Bank of India Act, 1989 ?

  • RBI
  • SIDBI
  • ICICI
  • NABARD
  • Correct Option: B  [ SIDBI ]

    Explanation:

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: