INDIAN ECONOMY PART 5

INDIAN ECONOMY

1. Which of the following estimates the national income of India?
(A) Central Statistical Organisation ✔️
(B) None of the above
(C) Indian Standard Institution
(D) Indian Statistical Institute

2. The slogan Garibi Hatao was included in which Five year Plan?
(A) Fifth Plan ✔️
(B) Sixth Plan
(C) Third Plan
(D) Fourth Plan

3. Which one of the following rates are not determined by the Reserve Bank of India?
(A) Repo Rate
(B) SLR
(C) CRR
(D) Prime Lending Rate ✔️

4. The Reserve Bank of India was established in the year
(A) 1947
(B) 1951
(C) 1930
(D) 1935 ✔️

5. Indian Rupee is fully convertible at
(A) Trade Account
(B) Capital Account
(C) Current Account ✔️
(D) None of the above

6. Globalization of the Indian economy means
(A) Import liberalization
(B) Putting minimum restrictions on trade relations with other countries ✔️
(C) Establishing business units abroad
(D) Export promotion

7. A system of Panchayati Raj existed even before 1947 in
(A) Tamil Nadu ✔️
(B) All of the above
(C) Maharashtra
(D) Gujarat

8. Balwantrai Mehta Committee was appointed
(A) To formulate child welfare programme
(B) To formulate the labor welfare programme
(C) To examine the Community Development Projects ✔️
(D) To formulate National Security Policy

9. Which of the Committees or Commissions made recommendations for granting more powers and responsibilities to the Panchayati Raj?
(A) Mondal Commission
(B) None of the above
(C) Jain Commission
(D) Mehta Commission ✔️

10. Those who benefit from inflation are
(A) Wage-earners
(B) Salaried
(C) Creditors
(D) Debtors ✔️

11.The unorganized sector of India is characterized by
(A) more barter transactions.
(B) more foreign exchange transactions.
(C) more currency transactions. ✔️
(D) more bank transactions.

12. Which of the following was the period of Annual Plans
(A) 1969-74
(B) 1978-79
(C) 1951-56
(D) 1966-69 ✔️

13. Rolling Plan covered the period
(A) 1970-75
(B) 1980-85
(C) 1978-83 ✔️
(D) 1973-78

14. How many private commercial banks were nationalized in 1969?
(A) 14 ✔️
(B) 15
(C) 12
(D) 13

15. Fiscal policy refers to
(A) Interest Policy
(B) Related to revenue and expenditure policy of the government ✔️
(C) Agricultural Fertilizer Policy
(D) Rural Credit Policy

16. Mid-day Meal Scheme was launched in
(A) 1995 ✔️
(B) 1998
(C) 1996
(D) 1997

17. In a developed economy the major share of employment originates in the
(A) Tertiary sector ✔️
(B) None of the above
(C) Primary sector
(D) Secondary sector

18. The SEBI was given statutory recognition in 1992 on the recommendation of
(A) the Tendulkar Committee.
(B) the Narasimham Committee ✔️
(C) the Chakraborty Commission.
(D) the Chelliah Committee.

19. The iron and steel plants of Rourkela and Durgapur were conceived under the
(A) Third Five Year Plan
(B) Fourth Five Year Plan
(C) First Five Year Plan
(D) Second Five Year Plan ✔️

20. The one rupee currency notes of India are issued by
(A) The State Bank of India
(B) None of the above
(C) The Ministry of Finance, Govt of India ✔️
(D) The Reserve Bank of India

21. From which year the policy of globalization of Indian economy has been followed? -
(A) 1991 ✔️
(B) 2000
(C) 1980
(D) 1985

22. Prices can be stabilized by
(A) Devaluation
(B) Increasing production
(C) (A) and (B)
(D) Controlling the supply of money ✔️

23.The Planning Commission is
(A) An advisory body✔️
(B) A department of the Ministry of Finance. Govt. of India
(C) A wing of the Ministry of Planning, Government of India
(D) Endowed with the responsibility of implementing five-year plans

24. In the Community Development Programme, the Government provides
(A) Only financial assistance
(B) Only technical assistance
(C) Both (A) and (B) ✔️
(D) None of these

25. Finance Commission is
(A) A constitutional body appointed by the President every five years to review Centre-State financial relationship ✔️
(B) A permanent body to supervise the center-state financial relationship
(C) An organization to prepare annual budgets for the Government
(D) An organization to find out financial resources for financing Five-Year Plans

26. Fiscal Deficit measures
(A) The difference between the government's consumption expenditure and tax receipt
(B) The difference between the government's revenue expenditure and revenue receipt
(C) The amount of increase in the government's debt ✔️
(D) The gap between the government's expenditure and tax receipt

27. Which out of the following, can be levied by the State Government
(A) Tax on profession ✔️
(B) Capital gains tax
(C) Income tax
(D) Wealth tax

INDIAN ECONOMY MCQ SOLVED QUESTIONS