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MCQ on Indian Economy

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:

The Gandhian economy is based on the principle of:

  • Competition
  • Trusteeship
  • State Control
  • None of the above
  • Correct Option: B  [ Trusteeship ]

    Explanation:

Chairman of the 15th Finance Commission of India-

  • NK Singh
  • YV Reddy
  • Ranghuram Rajan
  • Ramesh Chand
  • Correct Option: A  [ NK Singh ]

    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:

"Swadesh Darshan" is:

  • a scheme for development of tourism infrastructure
  • related with transportation service for sightseeing in Tripura
  • a Char Dham Yatra
  • visit to a natural scenery
  • Correct Option: A  [ a scheme for development of tourism infrastructure ]

    Explanation:

'Economic Survey' is published by:

  • The Ministry of Finance
  • The Planning Commission
  • The Government of India
  • The Central Statistical Organization
  • Correct Option: A  [ The Ministry of Finance ]

    Explanation:

From the following statements pertaining to the World Economic Forum (WEF), find the correct statement(s) :

(i) The WEF is a platform under the International Monetary Fund (IMF).

(ii) The WEF is an independent department of the World Bank.

(iii) The WEF is an International Organization for Public-Private Cooperation.

(iv) The WEF was established in 1971 as a not-for-profit foundation and is headquartered in Geneva, Switzerland.

Select the correct answer using the codes given below.

  • Only (1)
  • Only (ii)
  • Only (iii) and (iv)
  • Only (ii) and (iii)
  • Correct Option: C  [ Only (iii) and (iv) ]

    Explanation:

In Income Tax, Assessee is :

  • a person who pays income tax
  • a person who deducts income tax from its employees
  • a person who prepares income tax Return of tax payers
  • None of these
  • Correct Option: A  [ a person who pays income tax ]

    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 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: