MCQ on Indian Economy
Which of the following is the role of Finance Commission ?
- Sharing of net proceeds of taxes between the Centre and States.
- Recommending principles for governing the grants-in-aid to the States by the Centre
- Recommendations on matters referred to it by the President for the interest of finance
- All of the above
Explanation:
Which of the following sources provides highest tax revenue to Government of India?
- Personal Income Tax
- Excise Duty
- Corporation Tax
- Customs Duty
Explanation:
Major part of the Indian agriculture is characterized by
- Large size farm
- Capitalist agriculture
- Small size farm
- Co-operative farm
Explanation:
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)
Explanation:
Which of the following does not come under the GST in India ?
- Agricultural products
- Handicrafts
- Gems and jewelries
- Petroleum products
Explanation:
Inclusive growth as enunciated in the Eleventh Five Year Plan does not include one of the following:
- Reduction of Poverty
- Extension of employment opportunities
- Strengthening of capital market
- Reduction in gender inequality
Explanation:
A closed economy is an economy in which:
- the money supply is fully controlled
- deficit financing takes place
- only exports take place
- Neither exports nor imports take place.
Explanation:
In order to control inflationary price rise, Reserve Bank directs Banks to
- Reduce rate of interest on credit
- Reduce Statutory Liquidity Ratio (SLR)
- Increase Cash Reserve Ratio (CRR)
- Buy bonds from capital market
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)
Explanation:
Gilt-edged market means:
- Market of government securities
- Bullion market
- Market of commodities
- Market of pure metals
Explanation: