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Indian Economy MCQs with Answer
Q: About Deendayal Antyodaya Yojana (DAY) which of the following is
not
correct ?
A: It focuses on both the rural and urban areas
B: It aims at skill development.
C: It is a State Government's scheme
D: It has replaced Ajeevika
Answer
It is a State Government's scheme
Q: Which one of the following is the main source of revenue for the states ?
A: Property tax
B: Sales tax
C: Excise duty
D: None of these
Answer
Sales tax
Q: New Industrial Policy of India was introduced in the year:
A: 1990
B: 1991
C: 1992
D: 1993
Answer
1991
Q: If withdrawal of a worker from employment does not create any output loss, this situation is known as
A: Search unemployment
B: Voluntary unemployment
C: Disguised unemployment
D: Frictional unemployment
Answer
Disguised unemployment
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: GST abolishes which of the following taxes ?
A: Corporation tax
B: Service tax
C: Income tax
D: Wealth tax
Answer
Service tax
Q: What is the 'Repo rate' ?
A: It is the rate at which International Aid Agencies lend to RBI
B: It is the rate at which the banks lend to RBI
C: It is the rate at which RBI borrows from the market
D: It is the rate at which RBI lends to banks
Answer
It is the rate at which RBI lends to banks
Q: In India, National Income is computed by :
A: Ministry of Fianance
B: Central Statistical Organisation
C: National Development Council
D: Finance Commission
Answer
Central Statistical Organisation
Q: Which activity is
not
included in service sector ?
A: Trade, hotels and restaurants
B: Real estate, finance and insurance
C: Transport and communication
D: Electricity, gas and water supply
Answer
Electricity, gas and water supply
Q: Who was the father of Operation Flood in India ?
A: Dr. Varghese Kurien
B: M. S. Swaminathan
C: A P J Abdul Kalam
D: Morarji Desai
Answer
Dr. Varghese Kurien
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