MCQ on Indian Economy for the preparation of UPSC Civil Services and TPSC, WBSC, APSC, TCS & TPS Examinations

The growth of per capita income of current prices is higher than that of per capita income at constant prices because the later takes into account the rate of

growth of population
increase in price level
growth of money supply
increase in the wage rate

Correct Option: B [ increase in price level ]

Explanation:

Who wrote the book Planned Economy for India?

Jawaharlal Nehru
Indira Gandhi
M. Visvesvaraya
Mahatma Gandhi

Correct Option: C [ M. Visvesvaraya ]

Explanation:

The Gandhian economy is based on the principle of:

Competition
Trusteeship
State Control
None of the above

Correct Option: B [ Trusteeship ]

Explanation:

Where is the headquarter of Reserve Bank of India (RBI) situated ?

Chennai
New Delhi
Kolkata
Mumbai

Correct Option: D [ Mumbai ]

Explanation: Established in Calcutta but shifted to Mumbai in 1937.

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

Agriculture
Industry
Service
All of these

Correct Option: A [ Agriculture ]

Explanation:

Which of the following products of Tripura ranks Second in all India level in terms of production ?

Paddy
Bamboo
Natural gas
Natural rubber

Correct Option: D [ Natural rubber ]

Explanation:

Gilt-edged market means:

Market of government securities
Bullion market
Market of commodities
Market of pure metals

Correct Option: A [ Market of government securities ]

Explanation:

Which of the following sector gives the largest income in India ?

Trade sector
Railway
Agriculture
Service sector

Correct Option: D [ Service sector ]

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:

In which year the Planning commission was set-up?

1949
1950
1951
1952

Correct Option: B [ 1950 ]

Explanation: