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MCQ on Indian Economy
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
Explanation:
Poverty is defined as:
- A monetary condition brought about by people's own laziness
- A monetary condition where people do not have enough to satisfy basic needs
- A monetary and non-monetary conditions where people lack access to community regulated common resources, opportunities and income
- All of the above
Explanation:
Which of the following has the highest per capita income ?
- Delhi
- Sikkim
- Haryana
- Goa
Explanation:
In India, National Income is computed by :
- Ministry of Fianance
- Central Statistical Organisation
- National Development Council
- Finance Commission
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:
Which one of the following is the main source of revenue for the states ?
- Property tax
- Sales tax
- Excise duty
- None of these
Explanation:
The LPG model of development was introduced by India since:
- 1991
- 1992
- 1993
- 1994
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
Explanation:
National Development Council was set up in:
- 1950
- 1951
- 1952
- 1954
Explanation:
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: