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MCQ on Indian Economy

Pradhan Mantri Jan Dhan Yojana was first announced by Hon'ble Prime Minister Modi on:

  • 15th August, 2014
  • 28th August, 2015
  • 26th January, 2016
  • None of the above
  • Correct Option: A  [ 15th August, 2014 ]

    Explanation:

Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, popularly known as Black Money Act, 2015 came into effect from :

  • 1st April, 2015
  • 1st May, 2015
  • 1st June, 2015
  • 1st July, 2015
  • Correct Option: D  [ 1st July, 2015 ]

    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:

Match the following :
List-I List-II
a. Monetary Policy Committee 1. Union Home Minister
b. GST Council 2. Union Finance Minister
c. NITI Aayog 3. RBI Governor
d. Cabinet Committee on Parliamentary Affairs 4. Prime Minister of India
Select the correct answer using the codes given below.

  • a-2, b-3, c-4, d-1
  • a-3, b-2, c-4, d-1
  • a-3, b-2, c-1, d-4
  • a-2, b-3, c-1, d-4
  • Correct Option: B  [ a-3, b-2, c-4, d-1 ]

    Explanation:

Which industry employs the largest number of women in India ?

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

    Explanation:

Which of the following products of Tripura ranks Second in all India level in terms of production ?

  • Paddy
  • Bamboo
  • Natural gas
  • Natural rubber
  • Correct Option: D  [ Natural rubber ]

    Explanation:

In India, Special Economic Zones were established to enhance:

  • Technology Development
  • Free Trade
  • Foreign Investment
  • Employment
  • Correct Option: B  [ Free Trade ]

    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:

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:

Mixed economy means an economy where:

  • There is co-existence of public sector along with private sector
  • Both agriculture and Industry are equally promoted by the state
  • There is importance of small scale industries along with heavy industries
  • Economy is controlled by military as well as civilian rulers
  • Correct Option: A  [ There is co-existence of public sector along with private sector ]

    Explanation: