Indian Economy MCQ Question Answer Paper Set 15

1)Debenture holders of a company are its

a) shareholders

b) creditors

c) debtors

d) directors

ans: b

2) By which one of the following years does the Eleventh Five Year Plan aim at achieving 10% rural tele-density in India from 1.9%?

a) 2009

b) 2010

c) 2011

d) 2012

ans: b

3) The Second Five Year Plan laid more stress upon:

(a) agriculture

(b) industrialization

(c) removing poverty

(d) self-reliance

Ans: (b)

4) Poverty Gap is :

(a) the difference between poverty line and actual income levels of all those living below that line

(b) gap between the rich and the poor

(c) gap between developed nations and developing nations

(d) gap in infrastructural facilities between developed and developing nations

Ans: (a)

5) Ten rupee notes bear the signature of:

(a) President

(b) Finance Minister

(c) Secretary, Ministry of Finance

(d) Governor, Reserve Bank of India

Ans: (d)

6) Broad money in India is :

(a) M1

(b) M2

(c) M3

(d) M4

Ans: (c)

7) Nationalization of banks was done with the purpose of:

(a) financing the industries

(b) improving credit facilities

(c) consolidating the economy

(d) improving security of deposits

Ans: (c)

8) The banks are required to maintain a certain ratio between their cash in hand and total

assets. This is called:

(a) SBRC (Statutory Bank Ratio)

(b) SLR (Statutory Liquid Ratio)

(c) CBR (Central Bank Reserve)

(d) CLR (Central Liquid Reserve)

Ans: (b)

9) Which of the following is at the apex of Industrial Finance in India?

(a) Industrial Finance Corporation

(b) Reserve Bank of India

(c) Industrial Development Bank of India

(d) Industrial Credit and Investment Corporation of India

Ans: (c)

10) If the price of an inferior good falls, its demand:

(a) rises

(b) falls

(c) remains constant

(d) can be any of the above

Ans: (c)

11) After 1991, the Central Government implemented various far-reaching reforms in the area of taxation. This was based on the recommendations of the:

(a) Wanchoo Committee

(b) Rajah Chelliah Committee

(c) Raj Committee

(d) Narsimhan Committee

Ans: (b)

12) In India, the service tax was first introduced in the year:

(a) 1998

(b) 1996

(c) 1994

(d) 1992

Ans: (c)

13) CENVAT is associated with:

(a) rate of indirect tax

(b) rate of income tax

(c) rate of direct tax

(d) none of the above

Ans: (a)

14) With reference to Indian economy, consider the following statements:

1. The Gross Domestic Product (GDP) has increased by four times in the last 10 years.

2. The percentage share of Public Sector in GDP has declined in the last 10 years.

Which of the statements given above is/are correct?

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2

Ans: (b)

16) Which part of separated UTI is under SEBl’s regulation?

(a) UTI-I

(b) UTI-II

(c) Both the above

(d) None of the above

Ans: (b)

17) Which organization promotes the foreign trade?

(a) ECGC

(b) MMTC

(c) STC

(d) All of these

Ans: (d)

18) The headquarters of IMF and World Bank are located at :

(a) Geneva and Montreal

(b) Geneva and Vienna

(c) New York and Geneva

(d) Both Washington DC

Ans: (d)

19) More than one-third of the crude steel production of the world comes from

(a) China

(b) Japan

(c) Russia

(d) U.S.A.

Ans: a

20) Who is the originator of Green Revolution in India?

(a) Norman E. Borlaug

(b) M.S. Swaminathan

(c) Garry Backer

(d) None of these

Ans: (a)

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