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MCQ on Indian Economy

Fiscal policy is connected with:

  • exports and imports
  • issue of currency
  • public revenue and public expenditure
  • liquidity of money
    • Correct Option: C  [ public revenue and public expenditure ]

    Explanation:

ICDS was first introduced in India in the year

  • 1975
  • 1977
  • 1979
  • None of these
    • Correct Option: A  [ 1975 ]

    Explanation:

When two or more persons working jointly on the basis of a common plan of action, then it is called:

  • Co-operation
  • Collaboration
  • Co-ordination
  • Consulting
    • Correct Option: B  [ Collaboration ]

    Explanation:

Which one of the following is an indirect tax levied by the Central Government in India ?

  • Service tax
  • Corporate Income tax
  • Profession tax
  • Agricultural Income tax
    • Correct Option: A  [ Service tax ]

    Explanation:

Which of the following has the highest per capita income ?

  • Delhi
  • Sikkim
  • Haryana
  • Goa
    • Correct Option: D  [ Goa ]

    Explanation:

Major part of the Indian agriculture is characterized by

  • Large size farm
  • Capitalist agriculture
  • Small size farm
  • Co-operative farm
    • Correct Option: C  [ Small size farm ]

    Explanation:

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 ]

    Explanation:

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 ]

    Explanation:

The period of high inflation and low economic growth is termed as:

  • Stagnation
  • Take-off stage in economy
  • Stagflation
  • Depression
    • Correct Option: C  [ Stagflation ]

    Explanation:

Plan finance creates increase of money supply if there is

  • increase in taxes
  • increase in loan from the Reserve Bank of India
  • increase in loan from commercial Banks
  • increase in loan from general public
    • Correct Option: A  [ increase in taxes ]

    Explanation:
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