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Indian Economy MCQs with Answer
Q: Which of the following benefits is covered under social security schemes ?
A: Retirement benefits
B: Medical facility
C: Compensation facilities
D: All of the above
Answer
All of the above
Q: The full form of GST is:
A: General Sales Tax
B: Goods and Services Tax
C: Government Special Tax
D: General Service Tax
Answer
Goods and Services Tax
Q: Which of the following is the role of Finance Commission ?
A: Sharing of net proceeds of taxes between the Centre and States.
B: Recommending principles for governing the grants-in-aid to the States by the Centre
C: Recommendations on matters referred to it by the President for the interest of finance
D: All of the above
Answer
All of the above
Q: Where is the headquarter of State Bank of India (SBI) situated ?
A: Delhi
B: Mumbai
C: Pune
D: Srinagar
Answer
Mumbai
Q: In order to control inflationary price rise, Reserve Bank directs Banks to
A: Reduce rate of interest on credit
B: Reduce Statutory Liquidity Ratio (SLR)
C: Increase Cash Reserve Ratio (CRR)
D: Buy bonds from capital market
Answer
Increase Cash Reserve Ratio (CRR)
Q: The Reserve Bank of India was established in the year :
A: 1930
B: 1935
C: 1940
D: 1945
Answer
1935
Q: National Development Council was set up in:
A: 1950
B: 1951
C: 1952
D: 1954
Answer
1952
Q: Which one of the following is an indirect tax levied by the Central Government in India ?
A: Service tax
B: Corporate Income tax
C: Profession tax
D: Agricultural Income tax
Answer
Service tax
Q: Whose signature is found on the 1000 rupee note of India?
A: Finance Secretary of India
B: Finance Minister Of India
C: Governor, Reserve Bank of India
D: President Of India
Answer
Governor, Reserve Bank of India
Q: Which is the following is direct tax ?
A: Income tax
B: Excise duty
C: Sales tax
D: None of these
Answer
Income tax
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