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Indian Economy MCQs with Answer
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: Which industry employs the largest number of women in India ?
A: Tea
B: Textile
C: Jute
D: Coal
Answer
Textile
Q: Find out the statement which is false.
Financial Structural reform needs
A: fall in government budget deficit
B: increase in profitability of economic sectors
C: reduce inflationary pressure
D: increase in the balance of payment deficit
Answer
increase in the balance of payment deficit
Q: A closed economy is an economy in which:
A: the money supply is fully controlled
B: deficit financing takes place
C: only exports take place
D: Neither exports nor imports take place.
Answer
Neither exports nor imports take place.
Q: The Gandhian economy is based on the principle of:
A: Competition
B: Trusteeship
C: State Control
D: None of the above
Answer
Trusteeship
Q: Which of the following is true in respect of Centre-State financial relations ?
A: Amount given by Centre is the only source of income to States
B: States can by-pass Centre while taking foreign loans
C: States can not levy income tax
D: States can claim 100 % share in excise duty on goods produced in the State
Answer
States can not levy income tax
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: In India, Special Economic Zones were established to enhance:
A: Technology Development
B: Free Trade
C: Foreign Investment
D: Employment
Answer
Free Trade
Q: The SEBI was given statutory recognition in 1992 on the recommendation of:
A: the Chakraborty Commission
B: the Chelliah Committee
C: the Tendulkar Committee
D: the Narasimham Committee
Answer
the Narasimham Committee
Q: Which organisation looks after the credit need of agriculture and rural development in India ?
A: FCI
B: IDBI
C: NABARD
D: ICAR
Answer
NABARD
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