INDIAN ECONOMY MCQ PART-1

Indian Economy ভারতের অর্থনীতি 

1.Bank rate is an instrument of

(A) Reducing Deficit Financing

(B) Increasing Tax Revenue

(C) Credit Control✔️

(D) Reducing Fiscal Deficit

2.Liberalization of Indian Economy started from

(A) 1995

(B) 1988

(C) 1991✔️

(D) 1985

3.The apex body which operates the micro-finance scheme by promoting self-help groups of individuals from a homogenous class through banks or non-government organizations is

(A) State Bank of India

(B) National Bank for Agriculture and Rural Development✔️

(C) Regional Rural Bank

(D) Grameen Bank  

4.Which one of the following years is regarded as the base year for construction of the Wholesale Price Index in India?

(A) 2011-12✔️

(B) 2005-06

(C) 1990-91 

(D) 2000-01

5.National Rural Employment Guarantee Scheme gives the right to employment for

(A) 100 days a year✔️

(B) 30 days a year

(C) 70 days a year

(D) 200 days a year

6.In India, the Repo rate is announced by

(A) the Reserve Bank of India✔️

(B) the President of India

(C) the Ministry of Finance, Government of India

(D) the Prime Minister of India

7.The Universal Declaration of Human Rights was adopted on

(A) August 14, 1947

(B) October 20, 1962

(C) December 10, 1948✔️

(D) January 26, 1950

8.Point out the false statement, India entered into financial structural reform by

(A) Opening of the domestic market to the world trade

(B) devaluation of exchange rate

(C) increasing import restriction✔️

(D) import liberalization

9.Deficit financing of a plan normally has —

(A) A stabilizing effect on the economy

(B) A neutral effect on the economy

(C) An inflationary effect on the economy✔️

(D) A deflationary effect on the economy

10.VAT is imposed on

(A) The value added at each stage of production of a commodity✔️

(B) Aggregate value in terms of cost of production of the producer of a commodity

(C) The final consumer of a commodity

(D) Total value added at the final stage production of a commodity

11.Name the programme of poverty alleviation launched the Government of India which was immensely benefited the rural poor.

(A) National Rural Employment Guarantee Programme.✔️

(B) Food for Work programme

(C) Jawhar Rojgar Yojona

(D) Indira Gandhi Rural Housing Programme

12.The objective of TRYSEM is

(A) Training for Self-employment of Woman

(B) Prepare child development programme

(C) Training of Rural Youth for Self-employment✔️

(D) Self-employment of Urban Youth

13.Land Reforms refers to the government's efforts at

(A) regulating land prices

(B) regulating land use

(C) abolishing ownership rights of non-cultivating landlords✔️

(D) making the ownership rights of landlords more secure

14.Peasant farming means —

(A) Cultivation is done by hired labor

(B) None of the above

(C) The tenant cultivates the land✔️

(D) The cultivator is the landowner

15.Marginal workers are people with

(A) only 183 days of work in a census year

(B) More than 183 days of work in a census year

(C) Less than 183 days of work in a census year✔️

(D) None of the above

16.Tertiary sector activities include

(A) Construction activities

(B) Infrastructure services✔️

(C) Cottage industries

(D) Mining activities

17.What is meant by TRIPS?

(A) Trade Related Intellectual Property Rights✔️

(B) Proportionate Tariff rule

(C) Laws relating to a tax rebate

(D) Trade-related laws

18.Industrial credit is available from

(A) SFCs

(B) IFCI✔️

(C) IDBI

(D) All of the above

19.AGMARK is related to

(A) agricultural goods✔️

(B) agricultural finance

(C) industry

(D) the Indian Railways

20.Existence of huge black money creates

(A) increase in the inequality of income

(B) high living standard for all

(C) decrease in the quality of output✔️

(D) Both A and B

21.The index of poverty is prepared on the basis of

(A) Subsistence level of consumption expenditure✔️

(B) Employment situation

(C) Assets distribution

(D) Income distribution

22.In terms of Human Development Index, India falls under the following category

(A) Low

(B) Very Low

(C) High

(D) Medium✔️

23.The Chairman of 15th Finance Commission was -

(A) Mahavir Tyagi

(B) N. K. Sing✔️

(C) K.C. Panth

(D) Manmohan Singh

24.Government of India has started selling a share of selected public sectors from the year

(A) 1994

(B) 1997

(C) 1992✔️

(D) 1993

25.World Trade Organisation (WTO) directed LDCs including India to

(A) increase liberalization and co-operation in the foreign trade sector✔️

(B) bring in exchange control measures

(C) impose export subsidy

(D) None of the above

26.When was the recommendation of the States Reorganis4tion Act in West Bengal implemented?

(A) 1956 ✔️

(B) 1957

(C) 1954

(D) 1955

27.In the financing of the Indian plans, indirect taxes have played

(A) A less important role compared to that of direct taxes

(B) A less important role compared to that of deficit financing

(C) A very important role✔️

(D) A negligible role

28.In which of the following plans did India experience to successive wars?

(A) Fourth Five Year Plan

(B) Fifth Five Year Plan

(C) Second Five Year Plan

(D) Third Five Year Plan✔️

29.Which one, out of the following, is not the objective of Indian Planning?

(A) Self-reliance

(B) Productive employment generation

(C) Industrial growth

(D) Population growth✔️

30.According to Purchasing Power Parity (PPP), India is

(A) Fourth largest economy✔️

(B) Seventh largest economy

(C) Tenth largest economy

(D) Third largest economy

31.The Mahalanobis strategy of Indian Planning gave emphasis to the growth of

(A) Heavy Capital Goods Industrial sector✔️

(B) Small Scale Village Industrial sector

(C) Agricultural sector

(D) Services sector

32.Which of the following taxes is within the jurisdiction of the Central Government?

(A) Land Revenue

(B) Excise on alcoholic liquors

(C) Corporation Tax✔️

(D) Professional Tax

33.Which of the following increases continuously with increase in production?

(A) Average cost

(B) Marginal cost

(C) Fixed cost

(D) Variable cost✔️

34.Which of the following is not required while considering GNP (Gross National Product)?

(A) Per capita income of citizens

(B) Net foreign investment✔️

(C) Purchase of goods by Government

(D) Private investment

35.Bank Rate is the rate

(A) The rate at which banks lend to the Industrial Financial Institutions

(B) None of the above

(C) At which banks lend money to the depositors

(D) At which Reserve Bank of India lends money to Commercial Banks✔️

36.In which plan was the target of deficit finance taken as zero?

(A)  Fifth Plan

(B) Ninth Plan✔️

(C) Seventh Plan

(D) Third Plan

37.Structural Adjustment Policy was introduced by India on taking a loan from

(A) Asian Development Bank

(B) European Union

(C) IMF✔️

(D) World Bank

38.Which of the following experienced the fastest expansion during the plan period in India?

(A) Services✔️

(B) Industry

(C) Agriculture

(D) None of the above

39.The term prudential norm is associated with

(A) Industrial Policy

(B) Agriculture Policy

(C) Trade Policy

(D) Banking Sector Reform✔️

40.How many annual plans have been completed till the commencement of the 10th plan?

(A) One

(B) Six✔️

(C) Three

(D) Five

41.Which of the following is not a method of estimating the national income of a country?

(A) Expenditure method

(B) Income-import method

(C) Product method

(D) Income method✔️

42.The Community Development Programme aims at

(A) Optimum utilization of rural resources

(B) integrated rural development✔️

(C) Providing educational facilities to rural people

(D) Providing health care facilities to rural people 

43.The primary emphasis during the 2nd Plan was laid on the development of

(A) Foreign trade

(B) Consumer industries

(C) Rural areas

(D) Basic and Heavy industrie✔️

44.The fifth five-year plan was terminated at the end of the fourth year because

(A) Of severe drought condition

(B) The emergency had ended

(C) There was no fund

(D) The Janata Party wanted to start a new plan with changed objective and patterns✔️

45.If the rural landlord also supplies rural credit to the tenants, it is called

(A) Capitalism

(B) Capitalist farming

(C) Feudalism

(D) Semi-feudalism✔️

46.Term loan for expansion of industries in India is mainly provided by

(A) Reserve Bank of India

(B) Co-operative Bank

(C) Commercial Banks

(D) Development Banks✔️

47.The largest source of India's Gross Domestic Produce

(A) Foreign Trade

(B) Services Sector✔️

(C) Agriculture and Allied Activities

(D) Manufacturing, Construction Industry, Electricity and Gas

48.The EXIM Bank of India deals with

(A) The exports and imports of India✔️

(B) the members of the Indian Parliament

(C) The peasants of India

(D) The industrial workers of India

49.The concept of planning was first approached in India by -

(A) M. Visvesvaraya✔️

(B) Ardeshir Dalai

(C) Jawaharlal Nehru

(D) Subhas Chandra Bose

50.In order to control inflationary price rise, Reserve Bank directs banks to

(A) Increase Cash Reserve Ratio ✔️

(B) Buy bonds from capital market

(C) Reduce the rate of interest on credit

(D) Reduce the Statutory Liquidity Ratio (SLR)