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MCQ on Indian Economy
The purpose of land reforms was to :
- increase the production in agriculture
- increase the purchasing power of the rural population
- ensure distributive justice with economic growth
- all of the above
Explanation:
In India, National Income is computed by :
- Ministry of Fianance
- Central Statistical Organisation
- National Development Council
- Finance Commission
Explanation:
Inclusive growth as enunciated in the Eleventh Five Year Plan does not include one of the following:
- Reduction of Poverty
- Extension of employment opportunities
- Strengthening of capital market
- Reduction in gender inequality
Explanation:
NPA of a commercial bank means:
- Net-Performing Asset
- New-Performing Asset
- Non-Personal Account
- Non-Performing Asset
Explanation: A non performing asset (NPA) is a loan or advance for which the principal or interest payment remained overdue for long period.
Consider the following statements regarding the Goods and Services Tax (GST) of India:
(i) GST is a successor to VAT used in India on the supply of goods and services.
(ii) GST came into effect from 1st July, 2017 through the implementation of the one hundred and first Amendment of the Constitution of India.
(iii) Every decision of the GST Council is to be taken by a majority of not less than three fourths of the weighted votes of the members present and
voting at the meeting.
(iv) The GST Council is chaired by the Prime Minister of India.
Select the correct statement/statements using the codes given below.
- (i) only
- (ii) only
- (iii) and (iv) only
- (i), (ii) and (iii) only
Explanation:
The equilibrium condition for money market is:
- demand for money should be equal to supply of money
- cash in hand should be equal to deposits in bank
- saving is equal to investment
- bank rate is equal to repo rate
Explanation:
The architect of the Second Five Year Plan was :
- Mahatma Gandhi
- Subhash Chandra Bose
- P. C. Mahalanobis
- None of them
Explanation:
What is the 'Repo rate' ?
- It is the rate at which International Aid Agencies lend to RBI
- It is the rate at which the banks lend to RBI
- It is the rate at which RBI borrows from the market
- It is the rate at which RBI lends to banks
Explanation:
If withdrawal of a worker from employment does not create any output loss, this situation is known as
- Search unemployment
- Voluntary unemployment
- Disguised unemployment
- Frictional unemployment
Explanation:
If the RBI adopts expansionist open market operations policy, this means that it will:
- openly announce to the market that it intends to expand credit
- sell securities in open market
- offer commercial banks more credit in the open market
- buy securities from non-government holders
Explanation: