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MCQ on Indian Economy


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Prime Minister Jan Dhan Yojana provides free Accident Insurance upto :

  • Rs. 1 lac
  • Rs. 1.5 lacs
  • Rs. 2 lacs
  • Rs. 2.5 lacs
Correct Option: A  [ Rs. 1 lac ]

Explanation:

In Income Tax, Assessee is :

  • a person who pays income tax
  • a person who deducts income tax from its employees
  • a person who prepares income tax Return of tax payers
  • None of these
Correct Option: A  [ a person who pays income tax ]

Explanation:

If the Cash Reserve Ratio (CRR) is lowered by the RBI, its impact on credit creation will be to :

  • decrease it
  • increase it
  • No impact
  • None of these
Correct Option: B  [ increase it ]

Explanation:

Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, popularly known as Black Money Act, 2015 came into effect from :

  • 1st April, 2015
  • 1st May, 2015
  • 1st June, 2015
  • 1st July, 2015
Correct Option: D  [ 1st July, 2015 ]

Explanation:

In India, National Income is computed by :

  • Ministry of Fianance
  • Central Statistical Organisation
  • National Development Council
  • Finance Commission
Correct Option: B  [ Central Statistical Organisation ]

Explanation:

The Reserve Bank of India was established in the year :

  • 1930
  • 1935
  • 1940
  • 1945
Correct Option: B  [ 1935 ]

Explanation: RBI Nationalized on 1st Jan, 1949.

National Food Security Act came into effect in the year:

  • 2012
  • 2013
  • 2014
  • None of the above
Correct Option: B  [ 2013 ]

Explanation:

Pradhan Mantri Jan Dhan Yojana was first announced by Hon'ble Prime Minister Modi on:

  • 15th August, 2014
  • 28th August, 2015
  • 26th January, 2016
  • None of the above
Correct Option: A  [ 15th August, 2014 ]

Explanation:

NITI Aayog, which replaced the Planning commission of India, was formed by a cabinet resolution of the Government of Inda on:

  • 1st January, 2015
  • 26th January, 2015
  • 15th August, 2015
  • None of the above
Correct Option: A  [ 1st January, 2015 ]

Explanation:

Which institution in India controls the monetary policy of Indian currency?

  • Finance Commission
  • The Finance Ministry of India
  • The Reserve Bank of India
  • None of the above
Correct Option: C  [ The Reserve Bank of India ]

Explanation:
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