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MCQ on Indian Economy

Who was the first Governor of Reserve Bank of India (RBI)?

  • C D Deshmukh
  • Sir Osborne Smith
  • James Braid Taylor
  • Benegal Rama Rau
  • Correct Option: B  [ Sir Osborne Smith ]

    Explanation: from 1935 to 1937

Which of the following is the main problem in the growth of agriculture sector in Tripura ?

  • About 96 per cent of the land holdings are small and marginal
  • 60 per cent of the total geographical area is forest cover
  • Two-third of the geographical area is hilly
  • All of the above
  • Correct Option: D  [ All of the above ]

    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:

The Special Economic Zones Act was passed by the Indian Parliament in 2005 and the Act came into force in:

  • 2006
  • 2009
  • 2010
  • 2012
  • Correct Option: A  [ 2006 ]

    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
  • Correct Option: C  [ Strengthening of capital market ]

    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:

Scheme run under MGNREGA are sponsored :

  • by the Central Government alone
  • by the State Government alone
  • partly by the Central Government and partly by the State Government
  • by Centre, State and Panchayat bodies together
  • Correct Option: C  [ partly by the Central Government and partly by the State Government ]

    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:

In India, National Income is computed by :

  • Ministry of Fianance
  • Central Statistical Organisation
  • National Development Council
  • Finance Commission
  • Correct Option: B  [ Central Statistical Organisation ]

    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
  • Correct Option: C  [ Increase Cash Reserve Ratio (CRR) ]

    Explanation: