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Indian Economy MCQs with Answer
Q: Major part of the Indian agriculture is characterized by
A: Large size farm
B: Capitalist agriculture
C: Small size farm
D: Co-operative farm
Answer
Small size farm
Q: Which among the following in India has the function of recommending Minimum Support Prices for various commodities to the Government ?
A: National Farmers Commission
B: Commission for Agricultural Costs and Prices
C: Central Statistical organization
D: Department of Agriculture
Answer
Commission for Agricultural Costs and Prices
Q: In India, which sector generally suffers from the problem of surplus labour ?
A: Agriculture
B: Industry
C: Service
D: All of these
Answer
Agriculture
Q: Inclusive growth as enunciated in the Eleventh Five Year Plan does not include one of the following:
A: Reduction of Poverty
B: Extension of employment opportunities
C: Strengthening of capital market
D: Reduction in gender inequality
Answer
Strengthening of capital market
Q: Government imposes taxes to:
A: run the machinery of State
B: uplift of weaker sections
C: check the accumulation of wealth among the rich
D: None of the above
Answer
run the machinery of State
Q: The equilibrium condition for money market is:
A: demand for money should be equal to supply of money
B: cash in hand should be equal to deposits in bank
C: saving is equal to investment
D: bank rate is equal to repo rate
Answer
demand for money should be equal to supply of money
Q: Which of the following Committees are related to Banking reforms: i) Narsimham Committee ii) P J Nayak Committee iii) Sunil Mehta Committee iv) Nachiket Mor Committee
A: (i), (ii) and (iii) only
B: (ii), (iii) and (iv) only
C: (i) and (iv) only
D: (i), (ii), (iii) and (iv)
Answer
(i), (ii), (iii) and (iv)
Q: Which of the following sources provides highest tax revenue to Government of India?
A: Personal Income Tax
B: Excise Duty
C: Corporation Tax
D: Customs Duty
Answer
Corporation Tax
Q: First Five Year Plan started in India in the year?
A: 1952
B: 1956
C: 1950
D: 1951
Answer
1951
Q: Chairman of the 15th Finance Commission of India-
A: NK Singh
B: YV Reddy
C: Ranghuram Rajan
D: Ramesh Chand
Answer
NK Singh
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