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Indian Economy MCQ (Pages :37)

  • 31 Accession Tax is levied on which among the following?

    (A) New Property
    (B) Gifts and bequests received by heirs.
    (C) Rented Property
    (D) Purchased Lands
  • 32 Agricultural Census is done for every:?

    (A) 2 years
    (B) 5 years
    (C) 10 years
    (D) 15 years
  • 33 Agricultural Income Tax revenue goes to which of the following governments in India?

    (A) State Governments
    (B) Central Government
    (C) Collected by State Governments ; delivered to Central Government
    (D) Collected by Central Government; delivered to State Governments
  • The taxing powers of the central government encompass taxes on income (except agricultural income), excise on goods produced (other than alcohol), customs duties, and inter-state sale of goods. The state governments are vested with the power to tax agricultural income, land and buildings, sale of goods (other than inter-state), and excise on alcohol. Local authorities such as Panchayat and Municipality also have power to levy some minor taxes.
  • 34 Agriculture, Irrigation and Power Projects were given highest priority in which among the following plans?

    (A) First Five Year Plan
    (B) Second Five Year Plan
    (C) Third Five Year Plan
    (D) Fourth Five Year Plan
  • 35 All banks including foreign banks in India have migrated to Basel II norms by March 31, 2009. In this context , what is the correct full form of SREP?

    (A) Supervisory Review and Evaluation Process
    (B) System Review and Evaluation Programme
    (C) Supervisory Review and Evaluation Programme
    (D) Systematic Revision of Entry Programme
  • 36 All commercial banks including branches of foreign banks functioning in India, local area banks and regional rural banks are insured by the DICGC. What is the full form of DICGC?

    (A) Deposit Insurance And Credit Guarantee Company
    (B) Deposit Insurance And Credit Guarantee Corporation
    (C) Direct Insurance And Credit Guarantee Corporation
    (D) Direct Insurance And Credit Guarantee Company
  • 37 All the foreign funds to come forward as Foreign Institutional Investments (FII) prior to any investment, are needed to register in which among the following bodies?

    (A) RBI
    (B) SEBI
    (C) Department of Economic Affairs
    (D) Both A & B
  • 38 Among the Environment protection, flood control, fertilizers and diesel which can be classified as “merit goods’ for the purpose of subsidies?

    (A) Environment protection; flood control and fertilizers only
    (B) environment protection and flood control only
    (C) flood control only
    (D) environment protection only
  • 39 Among which of the following countries would you call a growing country or growing economy?

    (A) A country with rising GNP at constant prices
    (B) A country with rising GNP at current prices
    (C) A country with constant GNP at rising prices
    (D) None of the above
  • 40 An autonomous increase in expenditure should result in an increase in a country’s real GNP only if?

    (A) The country’s balance of trade is negative
    (B) The country’s economy is working under conditions of less than full employment
    (C) It is government expenditure
    (D) The multiplier is at least 1.5
  • 41 An estimate of a sum required to meet the expenditure that it incurs during the first three to four months of an election financial year until a new government is in place, to keep the machinery running is also known as ______?

    (A) Interim Budget
    (B) Vote on Account
    (C) Expenditure Budget
    (D) Demand Grant
  • 42 An excise duty is a charge on which of the following?

    (A) export of goods
    (B) production of goods
    (C) production or sale of goods
    (D) import of goods
  • According to Central Excise act 1944 and the Central Excise Tariff Act 1985, every manufacturer of the goods in the country has to pay Excise duty. Most of the products attract 16% excise duty But in case of some products it more than that. It is opposite to custom duty which is charged in international trade
  • 43 An instrument traded at U.S. exchanges representing a fixed number of shares of a foreign company that is traded in the foreign country is called as?

    (A) GDR-Global Depository Receipt
    (B) ADR-American Depository Receipt
    (C) SDR-Special Drawing Rights
    (D) None of the above
  • 44 An investor or speculator who subscribes to a new issue with the intention of selling them soon after allotment to realize a quick profit is called?

    (A) Stag
    (B) Tall
    (C) Bull
    (D) Bear
  • 45 An organization which holds securities (like shares, debentures, bonds, government securities, mutual fund units etc.) of investors in electronic form at the request of the investors is called?

    (A) Bank
    (B) Depository
    (C) Share market
    (D) None of the above
  • 46 Antyodaya Anna Yojana (AAY) was launched in?

    (A) December 2000
    (B) December 2002
    (C) December 2004
    (D) December 2006
  • 47 AoA in context with World Trade Organization is ___?

    (A) Article of Association
    (B) Agreement on Agriculture
    (C) Agreement on Association
    (D) Administration of Agriculture
  • Pillars of WTO 1.Multi-Fiber agreement (MFA). 2.Agreement on agriculture (AOA). 3.Trade related investment measures (TRIMS). 4.Trade related intellectual property right (TRIPS). 5.General agreement on trade and services (GATS)
  • 48 Apart from Revenue deficit and budget deficit , the Indian government started using one more concept of deficit known as primary deficit from which of the following budgets?

    (A) 1992-93
    (B) 1993-94
    (C) 1994-95
    (D) 1995-96
  • 49 Approximately what fraction of India’s trade by volume is moved by sea?

    (A) 70%
    (B) 80%
    (C) 90%
    (D) 95%
  • 50 Approximately what fraction of the world’s oil exports is pumped by the 12-member Organization of the Petroleum Exporting Countries OPEC?

    (A) 25%
    (B) 40%
    (C) 50%
    (D) 75%
  • 51 ARCIL is related to which of the following?

    (A) Asset Reconstruction
    (B) Assessment of Liabilities
    (C) Assessment of Industrial Finance
    (D) Assessment of Industrial Licencing
  • 52 Arrange the following in correct chronological order of their years of establishment?(RBI, SBI, IFCI, ICICI, NABARD, UTI)?

    (A) RBI; SBI; IFCI; ICICI; NABARD; UTI
    (B) RBI; IFCI; ICICI;SBI; NABARD; UTI
    (C) RBI; IFCI; NABARD;ICICI;SBI; UTI
    (D) RBI; IFCI;ICICI;SBI; UTI; NABARD
  • RBI (1935), IFCI 1948, ICICI January 1955, SBI July 1955, UTI 1964, NABARD 1982
  • 53 Arrange the following in the descending order of the largest agricultural imports of India: 1.Pulses 2.Wood and Wood Products 3.Edible Vegtable Oils?

    (A) 1-2-3
    (B) 1-3-2
    (C) 2-1-3
    (D) 3-2-1
  • 54 As a wholly owned subsidiary of which of the following, the Small Industries Development Bank of India (SIDBI) was started in 1990?

    (A) Industrial Investment bank of India Ltd
    (B) Industrial Finance Corporation of India
    (C) Industrial Development Bank of India
    (D) Reserve Bank of India
  • 55 As per norms, a domestic airline needs to complete how many years of domestic operations to be eligible for International Operations?

    (A) 2 years
    (B) 3 years
    (C) 5 years
    (D) 7 years
  • 56 As per the current provisions of the Reserve Bank of India of Act, 1934, what is the highest denomination of notes RBI can issue?

    (A) Rs. 1000
    (B) Rs. 2000
    (C) Rs. 5000
    (D) Rs. 10000
  • 57 As per the Fiscal Responsibility and Budget Management (FRBM Act), 2003, the RBI does not participate in which of the following activities with effect from April 1, 2006?

    (A) Open market Operations
    (B) Printing new currency notes
    (C) Increasing interest rates
    (D) Primary issuance of Government securities
  • 58 As per the FRBM Act 2003 , which of the following year was set as a target to achieve zero revenue deficit?

    (A) 2008-09
    (B) 2009-10
    (C) 2010-11
    (D) 2011-12
  • 59 As per the Lakdawala Formula , which among the following is accepted to estimate “urban poverty”?

    (A) Consumer price Index for industrial labors
    (B) Consumer price Index for Agriculture
    (C) Wholesale Price index
    (D) 2 & 3
  • 60 As per the National Manufacturing Policy, the land area of a National Investment and Manufacturing Zone is to be minimum ____?

    (A) 1000 Hectares
    (B) 2000 Hectares
    (C) 3000 Hectares
    (D) 5000 Hectares

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