Indian Economy Set 1
Q.1 How much population is living below poverty line in India ?
1. Approx 34%
2. Approx 22%
3. Approx 26%
4. Approx 30%
Answer : 3
Q.2 The increase in oil seeds production was due to ?
1. Yellow revolution
2. Green revolution
3. Brown revolution
4. White revolution
Answer : 1
Q.3 The data of estimation of Indian National income is issued by ?
1. National Data Center
2. Central Statistical Organsation
3. Planning Commision
4. None of the above
Answer : 2
Q.4 The Blue Revolution is related with
1. Milk Production
2. Oilseed Production
3. Fish Production
4. None of the Above
Answer : 3
Q.5 The head office of the National Bank for Agriculture and Rural Development is located in
1. Mumbai
2. Lucknow
3. Hyderabad
4. Delhi
Answer : 1
Q.6 General sales tax is a form of
1. Corporate tax
2. Stamp duty
3. Consumption tax
4. Estate duty
Answer : 3
Q.7 The number of banks nationalized in 1969 were
1. 7
2. 9
3. 10
4. 14
Answer : 4
Q.8 Income Tax in India was introduces by
1. William Jones
2. Lord Macaule
3. Sir Charles Wood
4. Jemes Wilson
Answer : 4
Q.9 Who is the father of Economics ?
1. Karl Marx
2. Max muller
3. Adam Smith
4. None of these above
Answer : 3
Q.10 Indian Economy is
1. mixed Economy
2. Gandhian Economy
3. Socialistic Economy
4. mixed free Economy
Answer : 1
Q.11 What is the name given to the common currency of the European Union?
1. Rouble
2. Franc
3. Euro
4. Rupee
Answer : 3
Q.12 The Currency of Thailand is
1. Bhat
2. Yuan
3. Yen
4. Rupiah
Answer : 1
Q.13 The RBI issues currency notes under the
1. Fixed Fiduciary System
2. Maximum Fiduciary System
3. Minimum Reserve System
4. Proportional Reserve System
Answer : 3
Q.14 Interest on public debt is a part of
1. Transfer payments by the enterprises
2. Transfer payments by the Government
3. National Income
4. Interest payment by house-holds
Answer : 2
Q.15
MODVAT is related to
1. Sales Tax
2. Wealth Tax
3. Income Tax
4. Excise Tax
Answer : 4
Q.16 Which one of the following Committees is described as the 'twin sister' of the Estimates Committee?
1. Public Accounts Committee
2. Committee on Public Undertakings
3. Departmental Standing Committee
4. Privilege Committee
Answer : 1
Q.17 Short term contractions and expansions in economic activity are called
1. Expansions
2. Recession
3. Deficits
4. The business cycle
Answer : 4
Q.18 Tax on inheritance is called
1. Excise duty
2. Estate duty
3. Gift tax
4. Sales Tax
Answer : 2
Q.19 Special Drawing Rights were created by
1. IBRD
2. ADB
3. IMF
4. WTO
Answer : 3
Q.20 Which activity is termed as activity of tertiary sector?
1. Wheat production
2. Mobile production
3. Construction of a dam
4. Fishing
Answer : 3
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Q.21 Planning Commission was constituted on ?
1. 1948
2. 1950
3. 1949
4. 1951
Answer : 2
Q.22 The concept of Economic Planning in India is derived from ?
1. Ireland
2. UK
3. USA
4. Russia
Answer : 4
Q.23 National Planning Committee was set up by
1. Mahatma Gandhi
2. Jawaharlal Nehru
3. Subhash Chandra Bose
4. None of the above
Answer : 3
Q.24 National income ignores
1. Salary of employees
2. Sales of a firm
3. Sale of land
4. Exports of the IT sector
Answer : 3
Q.25 Export-Import bank of India was established in ?
1. 1983
2. 1981
3. 1982
4. 1984
Answer : 3
Q.26 Industrial Development Bank of India (IDBI) established in
1. 1964
2. 1963
3. 1966
4. 1968
Answer : 1
Q.27 Which is the most important source of income for Government of India ?
1. Licence fee
2. Excise duty
3. Income tax
4. Interest
Answer : 2
Q.28 In which Five Year Plan, Economic Development Rate was maximum?
1. Fourth Five Year Plan
2. First Five Year Plan
3. Sixth Five Year Plan
4. Tenth Five Year Plan
Answer : 4
Q.29 Who was the First Chairman of Planning Commission of India?
1. John Mathai
2. M. Viswesvarya
3. Jawahar Lal Nehru
4. None of the Above
Answer : 3
Q.30 The currency notes are printed in
1. Nasik
2. Nagpur
3. Bombay
4. New Delhi
Answer : 1