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MCQ on Indian Economy

Planning Commission of India was set up by :

  • Morarji Desai
  • T T Krishnamachari
  • Jawaharlal Nehru
  • None of the above
  • Correct Option: C  [ Jawaharlal Nehru ]

    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:

Which of the following pairs is/are incorrectly matched?
i. Finance Commission : Constitutional of India
ii. Securities and Exchange Board of India : Statutory Body
iii. NITI Aayog : Constitutional Body
iv. Reserve Bank of India : Statutory Body
Select the correct answer using the codes given below.

  • (i) and (iii) only
  • (ii) and (iv) only
  • (iii) only
  • (iv) only
  • Correct Option: C  [ (iii) only ]

    Explanation:

Parallel economy refers to:

  • Traditional economy
  • Black money
  • Agriculture based economy
  • Socialist economy
  • Correct Option: B  [ Black money ]

    Explanation:

The earlier name of WTO was:

  • UNCTAD
  • GATT
  • UNIDO
  • OECD
  • Correct Option: B  [ GATT ]

    Explanation: General Agreement on Trade and Tariffs (GATT) under the Marrakesh Agreement. The World Trade Organization (WTO) began journey on 1 January 1995.

Major part of the Indian agriculture is characterized by

  • Large size farm
  • Capitalist agriculture
  • Small size farm
  • Co-operative farm
  • Correct Option: C  [ Small size farm ]

    Explanation:

ICDS was first introduced in India in the year

  • 1975
  • 1977
  • 1979
  • None of these
  • Correct Option: A  [ 1975 ]

    Explanation:

Who was the father of Operation Flood in India ?

  • Dr. Varghese Kurien
  • M. S. Swaminathan
  • A P J Abdul Kalam
  • Morarji Desai
  • Correct Option: A  [ Dr. Varghese Kurien ]

    Explanation: Operation Flood related to Milk Production.

The Plan launched in the 50th year of Indian Independence was :

  • Sixth five year plan
  • Eighth five year plan
  • Ninth five year plan
  • Tenth five year plan
  • Correct Option: C  [ Ninth five year plan ]

    Explanation:

The Mahalanobis strategy of Indian Planning gave emphasis to the growth of:

  • Agricultural sector
  • Services sector
  • Heavy Capital Goods Industrial sector
  • Small scale Village Industrial sector
  • Correct Option: C  [ Heavy Capital Goods Industrial sector ]

    Explanation: