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Indian Economy MCQs with Answer
Q: Which of the following is the main problem in the growth of agriculture sector in Tripura ?
A: About 96 per cent of the land holdings are small and marginal
B: 60 per cent of the total geographical area is forest cover
C: Two-third of the geographical area is hilly
D: All of the above
Answer
All of the above
Q: First Five Year Plan started in India in the year?
A: 1952
B: 1956
C: 1950
D: 1951
Answer
1951
Q: If the Cash Reserve Ratio (CRR) is lowered by the RBI, its impact on credit creation will be to :
A: decrease it
B: increase it
C: No impact
D: None of these
Answer
increase it
Q: In India the Repo rate is announced by:
A: the Ministry of Finance, Government of India
B: the Prime Minister of India
C: the Reserve Bank of India
D: the President of India
Answer
the Reserve Bank of India
Q: The highest body which approves the Five Year Plan in India is :
A: Parliament
B: Planning Commission
C: National Development Council
D: Finance Commission
Answer
National Development Council
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: In Income Tax, Assessee is :
A: a person who pays income tax
B: a person who deducts income tax from its employees
C: a person who prepares income tax Return of tax payers
D: None of these
Answer
a person who pays income tax
Q: The Iron and Steel plants of Rourkela and Durgapur were conceived under the:
A: First Five Year Plan
B: Second Five Year Plan
C: Third Five Year Plan
D: Fourth Five Year Plan
Answer
Second Five Year Plan
Q: NABARD stands for:
A: National Activated Bank for Agriculture and Rural Development
B: National Bank for Agriculture and Rural Development
C: National Agricultural Backward and Rural Development
D: National Bank for Accelerated Rural Development
Answer
National Bank for Agriculture and Rural Development
Q: Mixed economy means an economy where:
A: There is co-existence of public sector along with private sector
B: Both agriculture and Industry are equally promoted by the state
C: There is importance of small scale industries along with heavy industries
D: Economy is controlled by military as well as civilian rulers
Answer
There is co-existence of public sector along with private sector
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