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Indian Economy Set 1

  • 1.
    The Indian economy can be most appropriately described as a:

    a 
    Capitalist economy
    b 
    Socialist economy
    c 
    Traditional economy
    d 
    Mixed economy 

    Explanation:
    Subject: 
    GENERAL SCIENCE
    63.64% users answered right
    Correct Answer: d
    Comment · 0 · 
  • 2.
    RBI does not transact the business of which of the following state governments?

    a 
    Nagaland
    b 
    Assam
    c 
    J & K
    d 
    Rajasthan 

    Explanation:
    Subject: 
    GENERAL SCIENCE
    80.00% users answered right
    Correct Answer: c
    Comment · 0 · 
  • 3.
    The symbol of Reserve Bank of India is

    a 
    Capital of Asokan pillar
    b 
    Kuber with a purse of money
    c 
    Tiger before a palm tree
    d 
    A dog sitting in a defensive state

    Explanation:
    Subject: 
    GENERAL SCIENCE
    75.00% users answered right
    Correct Answer: c
    Comment · 0 · 
  • 4.
    The main source of revenue for a State Government in India is

    a 
    Sales tax
    b 
    Excise tax
    c 
    Income tax
    d 
    Property tax

    Explanation:
    Subject: 
    GENERAL SCIENCE
    37.29% users answered right
    Correct Answer: a
    Comment · 0 · 
  • 5.
    To achieve high rates of growth of national output, the economy has to

    a 
    reduce the rate of growth of population
    b 
    borrow foreign capital
    c 
    step up the rate of savings
    d 
    increase the rate of investment and reduce the capital output ratio

    Explanation:
    Subject: 
    GENERAL SCIENCE
    59.62% users answered right
    Correct Answer: d
    Comment · 0 · 
  • 6.
    The proceeds of income tax go to

    a 
    Central Government
    b 
    State Government
    c 
    Centre and States
    d 
    Corporation authorities

    Explanation:
    Subject: 
    GENERAL SCIENCE
    32.14% users answered right
    Correct Answer: c
    Comment · 0 · 
  • 7.

    National income refers to

    a 
    money value of goods and services produced in a country during a year.
    b 
    money value of stocks and shares of a country during a year.
    c 
    money value of capital goods produced by a country during a year.
    d 
    money value of consumer goods produced by a country during a year.
     

    Explanation:
    Subject: 
    GENERAL SCIENCE
    51.92% users answered right
    Correct Answer: a
    Comment · 3 · 
  • 8.

    Which of the following Mahatma Gandhi series of currency notes issued by the RBI has economy depicted on it?

    a 
    Rs.500
    b 
    Rs.1000
    c 
    Rs.50
    d 
    Rs.5
     

    Explanation:
    Subject: 
    GENERAL SCIENCE
    30.43% users answered right
    Correct Answer: b
    Comment · 0 · 
  • 9.
    What is the purpose of the India Brand Equity Fund?

    a 
    To promote in-bound tourism
    b 
    To make Made in India a label of quality
    c 
    To organise trade fairs.
    d 
    To provide venture capital to IT sector.

    Explanation:
    Subject: 
    GENERAL SCIENCE
    41.67% users answered right
    Correct Answer: b
    Comment · 0 · 
  • 10.
    What are open market operations?

    a 
    Activities of SEBI registered brokers
    b 
    Selling of currency by the RBI
    c 
    Selling of gilt-edged securities by the Government
    d 
    Sale of shares by FIIs

    Explanation:
    Subject: 
    GENERAL SCIENCE
    38.10% users answered right
    Correct Answer: c
    Comment · 0 · 
  • 11.

    Why did the Government ban the import of Terminator seeds?

    a 
    To contain a virus which can destroy local crops
    b 
    These seeds are injurious to human and animal health
    c 
    These seeds contain genetically engineered properties to prevent further multiplication
    d 
    These seeds multiply at very slow rates
     

    Explanation:
    Subject: 
    GENERAL SCIENCE
    35.14% users answered right
    Correct Answer: c
    Comment · 0 · 
  • 12.
    How does the consumer benefit with VAT?

    a 
    It removes tax on tax and thus reduces prise-rise
    b 
    Reduces the cost of production
    c 
    With the abolition of the sales tax
    d 
    Due to the exemption of small business from the tax within certain limits prescribed by the State

    Explanation:
    Subject: 
    GENERAL SCIENCE
    44.74% users answered right
    Correct Answer: a
    Comment · 0 · 
  • 13.
    During which Five-year plan did India lay down the objective of the need to ensure environmental sustainability of the development strategy?

    a 
    6th Five year plan
    b 
    7th Five year plan
    c 
    8th Five year plan
    d 
    9th Five year plan

    Explanation:
    Subject: 
    GENERAL SCIENCE
    18.18% users answered right
    Correct Answer: d
    Comment · 0 · 
  • 14.
    The system of issuing and monitoring of money in the market is known as-

    a 
    Proportional reserve ratio
    b 
    Fixed reserve ratio
    c 
    Minimum reserve ratio
    d 
    Floating reserve ratio

    Explanation:
    Subject: 
    GENERAL SCIENCE
    27.78% users answered right
    Correct Answer: c
    Comment · 0 · 
  • 15.
    The Government of India made it obligatory on the part of all commercial banks that they should give some cash amount while purchasing Government bonds. What would you call this?

    a 
    Statutory Liquidity Ratio
    b 
    Cash Reserve Ratio   
    c 
    Minimum Reserve Ratio   
    d 
    Floating Reserve Ratio    

    Explanation:
    Subject: 
    GENERAL SCIENCE
    40.00% users answered right
    Correct Answer: a
    Comment · 0 · 
  • 16.
     The receipts of which of the following taxes/duties are not shared with the states?

    a 
    Tax on income except agriculture
    b 
    Corporation tax
    c 
    Surcharge on income tax
    d 
    Capital gain tax

    Explanation:
    Subject: 
    GENERAL SCIENCE
    42.42% users answered right
    Correct Answer: a
    Comment · 1 · 
  • 17.
    Under the minimum reserve system, the Reserve Bank of India as the sole authority of note issue is required to maintain assets worth not less than

    a 
    115 crores of rupees
    b 
    85 crores of rupees
    c 
    200 crores of rupees
    d 
    210 crores of rupees

    Explanation:
    Subject: 
    GENERAL SCIENCE
    46.88% users answered right
    Correct Answer: c
    Comment · 2 · 
  • 18.
    The type of note issue system followed in India is:

    a 
    Maximum fiduciary system
    b 
    Minimum reserve system
    c 
    Proportional fiduciary system
    d 
    Fixed fiduciary system

    Explanation:
    Subject: 
    GENERAL SCIENCE
    28.12% users answered right
    Correct Answer: b
    Comment · 0 · 
  • 19.
    Inflation is caused by:

    a 
    Increase in supply of goods.
    b 
    Increase in cash with the government
    c 
    Decrease in money supply
    d 
    Increase in money supply

    Explanation:
    Subject: 
    GENERAL SCIENCE
    45.95% users answered right
    Correct Answer: d
    Comment · 0 · 
  • 20.
    Open market operation refers to

    a 
    borrowing by commercial banks from the R.B.I
    b 
    lending by scheduled banks to non-scheduled banks
    c 
    purchase and sale of Government securities by the R.B.I
    d 
    purchase and sale of bonds and securities by the Central Govt.

    Explanation:
    Subject: 
    GENERAL SCIENCE
    59.38% users answered right
    Correct Answer: c
    Comment · 0 · 
  • 21.

    Which is the first public Sector Corporation of independent India?

    a 
    Hindustan Steel Corporation, Bhilai
    b 
    State Trading Corporation of India
    c 
    Food corporation of India
    d 
    Damodar valley corporation
     

    Explanation:
    Subject: 
    GENERAL SCIENCE
    25.81% users answered right
    Correct Answer: d
    Comment · 0 · 
  • 22.
    Which one of the following currencies has the highest value in terms of rupee?

    a 
    Pound
    b 
    Dollar
    c 
    Euro
    d 
    Saudi Rial

    Explanation:
    Subject: 
    GENERAL SCIENCE
    37.14% users answered right
    Correct Answer: a
    Comment · 0 · 
  • 23.

    The Employment Guarantee Scheme, which is an important component of the NCMP, was first introduced in which State?

    a 
    kerala
    b 
    Maharashtra
    c 
    Andhra Pradesh
    d 
    West Bangal
     

    Explanation:
    Subject: 
    GENERAL SCIENCE
    24.00% users answered right
    Correct Answer: b
    Comment · 0 · 
  • 24.
    Identify the Navratna company in the following

    a 
    ICICI Bank
    b 
    Infosys
    c 
    HPCL Ltd
    d 
    Air India

    Explanation:
    Subject: 
    GENERAL SCIENCE
    61.29% users answered right
    Correct Answer: c
    Comment · 0 · 
  • 25.
    Which of the following is apex bank for industrial loans?

    a 
    RBI
    b 
    NABARD
    c 
    ICICI
    d 
    IDBI

    Explanation:
    Subject: 
    GENERAL SCIENCE
    54.84% users answered right
    Correct Answer: d
    Comment · 0 · 
  • 26.
    What is the main function of central statistical Organisation (CSO)?

    a 
    Determination of money supply
    b 
    Collection of estimates of national income
    c 
    Collection of detail data regarding employment
    d 
    price determination

    Explanation:
    Subject: 
    GENERAL SCIENCE
    56.67% users answered right
    Correct Answer: b
    Comment · 0 · 
  • 27.
    Planning and control are so related that

    a 
    Planning initiates control
    b 
    Control initiates planning
    c 
    Both are equivalent
    d 
    Both go on simulta-neously in cycle

    Explanation:
    Subject: 
    GENERAL SCIENCE
    31.03% users answered right
    Correct Answer: d
    Comment · 0 · 
  • 28.
    Which of the following is the most important domestic source of planned finance?

    a 
    Balance of current revenue
    b 
    Profit from public sector units
    c 
    Domestic private savings
    d 
    Additional taxation

    Explanation:
    Subject: 
    GENERAL SCIENCE
    15.38% users answered right
    Correct Answer: c
    Comment · 0 · 
  • 29.

    In the budget figures of the Government of India, fiscal deficit is

    a 
    total expenditure – total receipts
    b 
    revenue expenditure-revenue receipts
    c 
    capital expenditure-capital receipts + market borrowing
    d 
    sum of budget deficit and Government`s market borrowing and liabilities
     

    Explanation:
    Subject: 
    GENERAL SCIENCE
    35.71% users answered right
    Correct Answer: a
    Comment · 0 · 
  • 30.
    The tenth plan aims to reduce the poverty ratio by 2007 to

    a 
    10%
    b 
    30%
    c 
    20%
    d 
    5%

    Explanation:
    Subject: 
    GENERAL SCIENCE
    15.38% users answered right
    Correct Answer: d
    Comment · 0 · 
  • 31.
    In the post-independence period, economic reforms were first introduced in India under

    a 
    P.V  Narasimha Rao Government (1990)
    b 
    Indira Gandhi Government (1980)
    c 
    Rajiv Gandhi Government(1985)
    d 
    Janata party Government (1977)

    Explanation:
    Subject: 
    GENERAL SCIENCE
    40.74% users answered right
    Correct Answer: a
    Comment · 0 · 
  • 32.
    The centre for Agriculture Marketing is located at

    a 
    Jaipur
    b 
    New Delhi
    c 
    Nagpur
    d 
    Hyderabad

    Explanation:
    Subject: 
    GENERAL SCIENCE
    25.93% users answered right
    Correct Answer: a
    Comment · 0 · 
  • 33.
    GDP at Factor Cost is

    a 
    GDP minus indirect taxes plus subsides
    b 
    GDP minus depreciation allowances
    c 
    NNP plus depreciation allowances
    d 
    GDP minus subsides plus indirect taxes

    Explanation:
    Subject: 
    GENERAL SCIENCE
    25.00% users answered right
    Correct Answer: a
    Comment · 3 · 
  • 34.
    The present Indian monetary system is based on

    a 
    Gold Reserve system
    b 
    Proportional Reserve system
    c 
    Convertible Currency system
    d 
    Minimum Reserve system

    Explanation:
    Subject: 
    GENERAL SCIENCE
    32.26% users answered right
    Correct Answer: d
    Comment · 0 · 
  • 35.
    Where is the biggest private sector power project in India located?

    a 
    Mundra Thermal Power Station
    b 
    Neyveli in Tamil Nadu
    c 
    Korba in Madhya Pradesh
    d 
    Dabhol in Maharashtra

    Explanation:
    Subject: 
    GENERAL SCIENCE
    25.00% users answered right
    Correct Answer: a
    Comment · 2 · 
  • 36.
    NABARD is the name of a

    a 
    Commercial bank
    b 
    Financial Institution
    c 
    Specialised bank to help agriculture
    d 
    Non-Banking Financial Institution

    Explanation:
    Subject: 
    GENERAL SCIENCE
    56.25% users answered right
    Correct Answer: c
    Comment · 0 · 
  • 37.
    Fiscal policy is concerned with

    a 
    Public revenue
    b 
    Public expenditure and debt
    c 
    Bank rate policy
    d 
    Both a and b

    Explanation:
    Subject: 
    GENERAL SCIENCE
    54.84% users answered right
    Correct Answer: d
    Comment · 0 · 
  • 38.
    The main objective of Antyodaya programme is

    a 
    upliftment of urban poor
    b 
    upliftment pf industrial workers
    c 
    unpliftment of rural poor
    d 
    upliftment of farmers

    Explanation:
    Subject: 
    GENERAL SCIENCE
    44.44% users answered right
    Correct Answer: c
    Comment · 0 · 
  • 39.
    The financial capital of India is

    a 
    Mumbai
    b 
    Chennai
    c 
    Delhi
    d 
    Chandigarh

    Explanation:
    Subject: 
    GENERAL SCIENCE
    70.00% users answered right
    Correct Answer: a
    Comment · 0 · 
  • 40.
    The concept of mixed economy means

    a 
    to have balanced development in the agricultural and industrial sector
    b 
    simultaneous development of the rural and urban sector
    c 
    to have equal distribution of wealth among the rural and the urban poor
    d 
    simultaneous existence of the private and public sector

    Explanation:
    Subject: 
    GENERAL SCIENCE
    46.43% users answered right
    Correct Answer: d
    Comment · 0 · 
  • 41.
    The first state owned company from India to be listed on the New York India to be listed on the New York Stock Exchange is

    a 
    Videsh Sanchar Nigam Ltd.
    b 
    Mahanagar Telephone Nigam Ltd.
    c 
    Tata Iron and steel Company
    d 
    Wipro

    Explanation:
    Subject: 
    GENERAL SCIENCE
    23.08% users answered right
    Correct Answer: a
    Comment · 0 · 
  • 42.
    The biggest item of India`s imports is:

    a 
    Iron ore
    b 
    Mica
    c 
    Petroleum products
    d 
    Gems and jewellery

    Explanation:
    Subject: 
    GENERAL SCIENCE
    60.61% users answered right
    Correct Answer: c
    Comment · 0 · 
  • 43.
    Who had estimated National Income in India first?

    a 
    V. K. R. V. Rao
    b 
    Databhai Naoroji
    c 
    R.C. Dutt
    d 
    D.R.Gadgil

    Explanation:
    Subject: 
    GENERAL SCIENCE
    53.57% users answered right
    Correct Answer: b
    Comment · 0 · 
  • 44.
    The Accounting Year of Reserve Bank of India runs from:

    a 
    April to March
    b 
    July to June
    c 
    January to December
    d 
    August to July

    Explanation:
    Subject: 
    GENERAL SCIENCE
    19.35% users answered right
    Correct Answer: b
    Comment · 1 · 
  • 45.
    The best example of a capital intensive industry in India is

    a 
    Textile Industry
    b 
    Steel Industry
    c 
    Tourism Industry
    d 
    Sports Goods Industry

    Explanation:
    Subject: 
    GENERAL SCIENCE
    38.71% users answered right
    Correct Answer: b
    Comment · 0 · 
  • 46.
    India`s Balance of payments can be corrected through

    a 
    Devaluation of currency
    b 
    Vigorous export promotion
    c 
    Import substitution
    d 
    All of the above

    Explanation:
    Subject: 
    GENERAL SCIENCE
    46.43% users answered right
    Correct Answer: d
    Comment · 0 · 
  • 47.
    Taxation is a tool of

    a 
    Monetary policy
    b 
    Fiscal policy
    c 
    Price policy
    d 
    Wage policy

    Explanation:
    Subject: 
    GENERAL SCIENCE
    40.00% users answered right
    Correct Answer: b
    Comment · 0 · 
  • 48.
    Monetary policy in India is formulated by:

    a 
    Finance Ministry
    b 
    RBI
    c 
    SEBI
    d 
    CLB

    Explanation:
    Subject: 
    GENERAL SCIENCE
    56.25% users answered right
    Correct Answer: b
    Comment · 0 · 
  • 49.
    The main difference between Gross Domestic Product (GDP) and Gross National product (GNP) is

    a 
    Transfer payments
    b 
    Net foreign income from aboard
    c 
    Capital consumption allowance
    d 
    Capital gains

    Explanation:
    Subject: 
    GENERAL SCIENCE
    48.39% users answered right
    Correct Answer: b
    Comment · 0 · 
  • 50.
    The purchase and sale of securities by the Central Bank is known as

    a 
    Variable reserve ratio
    b 
    Bank rate
    c 
    Open market operation
    d 
    Net liquidity ratio
    Explanation:
    Subject: 
    GENERAL SCIENCE
    54.84% users answered right
    Correct Answer: c