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Indian Economy MCQs with Answer
Q: The architect of the Second Five Year Plan was :
A: Mahatma Gandhi
B: Subhash Chandra Bose
C: P. C. Mahalanobis
D: None of them
Answer
P. C. Mahalanobis
Q: Plan finance creates increase of money supply if there is
A: increase in taxes
B: increase in loan from the Reserve Bank of India
C: increase in loan from commercial Banks
D: increase in loan from general public
Answer
increase in taxes
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: The Mahalanobis strategy of Indian Planning gave emphasis to the growth of:
A: Agricultural sector
B: Services sector
C: Heavy Capital Goods Industrial sector
D: Small scale Village Industrial sector
Answer
Heavy Capital Goods Industrial sector
Q: Planning Commission of India was set up by :
A: Morarji Desai
B: T T Krishnamachari
C: Jawaharlal Nehru
D: None of the above
Answer
Jawaharlal Nehru
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: The Special Economic Zones Act was passed by the Indian Parliament in 2005 and the Act came into force in:
A: 2006
B: 2009
C: 2010
D: 2012
Answer
2006
Q: Parallel economy refers to:
A: Traditional economy
B: Black money
C: Agriculture based economy
D: Socialist economy
Answer
Black money
Q: Scheme run under MGNREGA are sponsored :
A: by the Central Government alone
B: by the State Government alone
C: partly by the Central Government and partly by the State Government
D: by Centre, State and Panchayat bodies together
Answer
partly by the Central Government and partly by the State Government
Q: Economic growth is usually coupled with ___________.
A: deflation
B: inflation
C: Stagflation
D: hyper inflation
Answer
inflation
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