Indian Economy MCQ Question Answer Paper Set 25

1)’Earn while you learn’ scheme has been launched by

a) Ministry of Tourism

b) Ministry of Youth

c) Both ‘a’ and ‘b’

c) None of these

ans: a

2) In India inflation is measured by the

a) WPI

b) Consumer Prince Index for urban non-manual works

c) National Income Deflation

d) Consumer Price Index for urban non-manual works

ans: a

3) Since 1983, the RBI’s responsibility with respect to regional Rural Banks was transferred to

a) ARDC

b) SBI

c) NABARD

d) PACs

ans: c

4) Which of the following statements regarding wheat production is/a reincorrect?

1. Maximum area under wheat is in Uttar Pradesh

2. Maximum production is in Uttar Pradesh

3. Highest productivity is from Haryana

(a) 1 and 3

(b) 2 only

(c) 1 and 2

(d) 3 only

Ans: (d)

5) Which one amongst the following has the largest livestock population in the world?

(a) Brazil

(b) China

(c) India

(d) USA

Ans: (c)

6) ‘Conditionality’ of an IMF loan to a member country stands for:

(a) interest and repayment terms of the loan

(b) an assessment of the credit worthiness of the borrower

(c) schedule of disbursement of loan installments

(d) the policy steps which the borrower country must take

Ans: (d)

7) Oil Pool Deficit is a deficit:

1. in the balance of payments

2. that the government owes to the world bank

3. in the oil pool account

4. that the government owes to the oil companies

Choose your answer from:

(a) 1 and 3

(b) 2 and 3

(c) 3 and 4

(d) 2 and 4

Ans: (c)

8) Which country is the largest debtor of UNO?

(a) India

(b) Mexico

(c) Japan

(d) U.S.

Ans: (d)

9) Many a times, we read about Special Drawing Right (SDR) in newspapers. As per its definition. SDR is a monetary unit of the reserve assets of which of the following organizations/agencies?

a) World Bank

b) International Monetary Fund (IMF)

c) Asian Development Bank

d) Reserve Bank of India

Ans: b

10) Special Drawing Rights (SOR) facility is available at :

(a) International Monetary Fund (IMF)

(b) World Bank (IBRD)

(c) International Development Association (lDA)

(d) Organisation of Economic Cooperation and Development (OECD)

Ans: (a)

11) The headquarters of OPEC (Organisation of Petroleum Countries) is at :

(a) Vienna

(b) Kuwait City

(c) Algeria

(d) Tehran

Ans: (c)

12) The central banking functions in India are performed by the

a) Central Bank

b) SBI

c) RBI

d) Both ‘b’ and ‘c’

ans: c

13) Which of the following is an indirect tax?

a) Corporation tax

b Capital gains tax

c) Excise duty

d) Wealth tax

ans: b

14) New exim policy has choosen a town for the pottery export :

(a) Panipat

(b) Moradabad

(c) Khurja

(d) Agra

Ans: (c)

15) The basic objective of planning in india is

a) increasing employment opportunities

b) expansion of key industries

c) increase in agricultural output

d) All of the above

ans: d

16) Permanent settlement was a feature of

a) Zamindari System

b) Mahalwari System

c) Ryotwari System

d) None of these

ans: a

17) Which of the following committees was assigned to recommend reforms in the insurance sector?

(a) Rekhi Committee

(b) Nadkarni Committee

(c) Malhotra Committee

(d) Chelliah Committee

Ans: (c)

18) Which of the following authority sanctions foreign exchange for the import of goods?

(a) Any Nationalised Bank

(b) Exchange Bank

(c) Reserve Bank of India

(d) Ministry of Finance

Ans: (c)

19) The principal source of revenue to the State Government in India is :

(a) Income Tax

(b) Sales Tax

(c) State Excise Duties

(d) Land Revenue

Ans: (b)

20) 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)

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