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



Corporation Tax


Q: Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, popularly known as Black Money Act, 2015 came into effect from :

A: 1st April, 2015

B: 1st May, 2015

C: 1st June, 2015

D: 1st July, 2015



1st July, 2015


Q: If the RBI adopts expansionist open market operations policy, this means that it will:

A: openly announce to the market that it intends to expand credit

B: sell securities in open market

C: offer commercial banks more credit in the open market

D: buy securities from non-government holders



sell securities in open market


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



There is co-existence of public sector along with private sector


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



a person who pays income 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



It is the rate at which RBI lends to banks


Q: 'Economic Survey' is published by:

A: The Ministry of Finance

B: The Planning Commission

C: The Government of India

D: The Central Statistical Organization



The Ministry of Finance


Q: Which is the following is direct tax ?

A: Income tax

B: Excise duty

C: Sales tax

D: None of these



Income tax


Q: Sarva Shiksha Abhiyan (SSA) was launched in the IXth Five Year Plan for:

A: education for all

B: education for the weaker sections

C: universalisation of elementary education

D: bridge all the genders and social gaps in education



universalisation of elementary education


Q: In India, Special Economic Zones were established to enhance:

A: Technology Development

B: Free Trade

C: Foreign Investment

D: Employment



Free Trade
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