MCQ on Indian Economy for the preparation of UPSC Civil Services and TPSC, WBSC, APSC, TCS & TPS Examinations

The LPG model of development was introduced by India since:

1991
1992
1993
1994

Correct Option: A [ 1991 ]

Explanation:

GST abolishes which of the following taxes ?

Corporation tax
Service tax
Income tax
Wealth tax

Correct Option: B [ Service tax ]

Explanation:

The period of high inflation and low economic growth is termed as:

Stagnation
Take-off stage in economy
Stagflation
Depression

Correct Option: C [ Stagflation ]

Explanation:

The Reserve Bank of India was established in the year :

1930
1935
1940
1945

Correct Option: B [ 1935 ]

Explanation: RBI Nationalized on 1st Jan, 1949.

Where is the headquarter of Reserve Bank of India (RBI) situated ?

Chennai
New Delhi
Kolkata
Mumbai

Correct Option: D [ Mumbai ]

Explanation: Established in Calcutta but shifted to Mumbai in 1937.

The growth of per capita income of current prices is higher than that of per capita income at constant prices because the later takes into account the rate of

growth of population
increase in price level
growth of money supply
increase in the wage rate

Correct Option: B [ increase in price level ]

Explanation:

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:

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:

The Iron and Steel plants of Rourkela and Durgapur were conceived under the:

First Five Year Plan
Second Five Year Plan
Third Five Year Plan
Fourth Five Year Plan

Correct Option: B [ Second Five Year Plan ]

Explanation:

Which is the following is direct tax ?

Income tax
Excise duty
Sales tax
None of these

Correct Option: A [ Income tax ]

Explanation: