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MCQ on Indian Economy
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
Explanation:
Consider the following statements regarding the Goods and Services Tax (GST) of India:
(i) GST is a successor to VAT used in India on the supply of goods and services.
(ii) GST came into effect from 1st July, 2017 through the implementation of the one hundred and first Amendment of the Constitution of India.
(iii) Every decision of the GST Council is to be taken by a majority of not less than three fourths of the weighted votes of the members present and
voting at the meeting.
(iv) The GST Council is chaired by the Prime Minister of India.
Select the correct statement/statements using the codes given below.
- (i) only
- (ii) only
- (iii) and (iv) only
- (i), (ii) and (iii) only
Explanation:
Prime Minister Jan Dhan Yojana provides free Accident Insurance upto :
- Rs. 1 lac
- Rs. 1.5 lacs
- Rs. 2 lacs
- Rs. 2.5 lacs
Explanation:
Whose signature is found on the 1000 rupee note of India?
- Finance Secretary of India
- Finance Minister Of India
- Governor, Reserve Bank of India
- President Of India
Explanation:
Green revolution occurred during:
- 1945-1955
- 1965-1975
- 1985-1995
- none of these
Explanation:
Which activity is not included in service sector ?
- Trade, hotels and restaurants
- Real estate, finance and insurance
- Transport and communication
- Electricity, gas and water supply
Explanation:
Thename of Prasanta Chandra Mahalanobis is associated with:
- First Five-Year Plan
- Second Five-Year Plan
- Third Five-Year Plan
- Fourth Five-Year Plan
Explanation: Prof. Prasanta Chandra Mahalanobis is also known as the father of Indian Statistics, architect of the Second Five-Year Plan (1956–61).
Economic growth is usually coupled with ___________.
- deflation
- inflation
- Stagflation
- hyper inflation
Explanation:
Which of the following benefits is covered under social security schemes ?
- Retirement benefits
- Medical facility
- Compensation facilities
- All of the above
Explanation:
Which institution in India controls the monetary policy of Indian currency?
- Finance Commission
- The Finance Ministry of India
- The Reserve Bank of India
- None of the above
Explanation: