Mixed economy means an economy where:

• There is co-existence of public sector along with private sector
• Both agriculture and Industry are equally promoted by the state
• There is importance of small scale industries along with heavy industries
• Economy is controlled by military as well as civilian rulers
Correct Option: A  [ There is co-existence of public sector along with private sector ]

Remark:

Which of the following is true in respect of Centre-State financial relations ?

• Amount given by Centre is the only source of income to States
• States can by-pass Centre while taking foreign loans
• States can not levy income tax
• States can claim 100 % share in excise duty on goods produced in the State
Correct Option: C  [ States can not levy income tax ]

Remark:

Which of the following is the role of Finance Commission ?

• Sharing of net proceeds of taxes between the Centre and States.
• Recommending principles for governing the grants-in-aid to the States by the Centre
• Recommendations on matters referred to it by the President for the interest of finance
• All of the above
Correct Option: D  [ All of the above ]

Remark:

Which of the following is not the part of non-statutory welfare measure ?

• Health
• Education
• Transport
• Employees compensation
Correct Option: C  [ Transport ]

Remark:

In India, which sector generally suffers from the problem of surplus labour ?

• Agriculture
• Industry
• Service
• All of these
Correct Option: A  [ Agriculture ]

Remark:

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 ]

Remark:

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 ]

Remark:

The basic regulatory authority for mutual funds and stock markets lies with the:

• Stock exchanges
• Government of India
• Reserve Bank of India
• Securities and Exchange Board of India.
Correct Option: D  [ Securities and Exchange Board of India. ]

Remark:

The World Trade Organisation has replaced which organisation ?

• ITO
• UNCTAD
• GATT
• OECD
Correct Option: C  [ GATT ]

Remark:

Scheme run under MGNREGA are sponsored :

• by the Central Government alone
• by the State Government alone
• partly by the Central Government and partly by the State Government
• by Centre, State and Panchayat bodies together
Correct Option: C  [ partly by the Central Government and partly by the State Government ]

Remark: