Quiz on “UPSC MCQ On Indian Economy – 3” giving you an idea about questions asked on Indian Economy in competitive exams.
In which year was Minimum inflation in post economic reform?
A. 1999-2000
B. 1999-2001
C. 1999-2002
D. 1999-2003
1999-2000
nan
Que (52):
What does Inflation imply?
A. Rise in cash economy
B. No rise in income
C. Rise in general price index
D. Depletion in currence
Rise in general price index
Inflation is a quantitative measure of the rate at which the average price level of a basket of selected goods and services in an economy increases over some period of time. It is the rise in the general level of prices where a unit of currency effectively buys less than it did in prior periods.
Que (53):
Where is pearl fishing well developed in India?
A. Punjab
B. Kerla coastline
C. Ganga river
D. Off the coast at Rameshwaram
Off the coast at Rameshwaram
Pearl fishing is well developed in India off the coast at Rameshwaram. The Pearl Fishery Coast refers to a coastal area of southern India, extending along the Coromandel Coast from Tuticorin to Comorin ruled by Paravars.
Que (54):
What is the most important item of export among marine products from India?
A. Prawns
B. Tuna
C. Shrimp
D. Sardines
Shrimp
Frozen shrimp is the most important export item in this sector and it accounts for more than 60 percent of India’s total exports of marine products. Shrimp cultivation and exports have generated significant employment in India.
Que (55):
Which is the oldest ‘stock exchange of India?
A. Calcutta stock exchange
B. BSE
C. NSE
D. Madras stock exchange
Bombay Stock Exchange
BSE(Bombay Stock Exchange) is the oldest stock exchange.De
Que (56):
Stock Exchanges play a role in an economy how may it be termed?
A. Boosts the economy
B. Controlls the economy
C. Hypes the economy
D. Useful but need strict regulation
Useful but need strict regulation
A market economy functions under the laws of supply and demand. It is characterized by private ownership, freedom of choice, self-interest, optimized buying and selling platforms, competition, and limited government intervention.
Que (57):
CENVAT is associated with which rate?
A. Income tax
B. Deficiet funds
C. Fiscal funds
D. Service tax
Service tax
Service Tax rate tariff Changes under Indian Budget 2017-18.
Que (58):
Taxation and the government’s expenditure policy are dealt under under which policy?
A. Custom policy
B. Excise policy
C. Fiscal policy
D. all of these
Fiscal policy
Fiscal policy is the means by which a government adjusts its spending levels and tax rates to monitor and influence a nation’s economy. It is the sister strategy to monetary policy through which a central bank influences a nation’s money supply.
Que (59):
For internal financing of Five Year Plans, the government depends on which source?
A. Monthly income
B. National income
C. State revenue
D. Taxation only
Taxation only
Finance for the Five Year Plans at the centre comes from internal and external sources. The internal resources include a) Balance from current revenue b) Public borrowings c) Small Savings and Provident Fund d) Surpluses of Public Sector Enterprises e) Miscellaneous capital receipts and f) Deficit financing
Que (60):
In India, which first bank of limited liability managed by Indians and founded in 1881?
A. Bank of Hindustan
B. General Bank of India
C. State bank of India
D. Oudh Commercial Bank
Oudh Commercial Bank
Oudh Commercial Bank or Awadh Commercial Bank was an Indian bank established in 1881 in Faizabad and operated until 1958 when it failed.
Que (61):
Which rural bank has been named after a river?
A. Prathama Bank
B. Varda Grameen Bank
C. Thar Anchalik Grameen Bank
D. Aravali Kshetriya Bank
Varada Grameen Bank
Varada Grameena Bank is a Regional Rural Bank (RRB) named after the Wardha River which is one of the biggest rivers in Vidarbha region in India.
Que (62):
By whom was the first estimate of national income in India made?
A. Lal Bahadur Shastri
B. Lokmanya Tilak
C. Gandhi Ji
D. Dadabhai Naoroji
Dadabhai Naoroji
nan
Que (63):
What is the sum total of incomes received for the services of labour, land or capital in a country?
A. State income
B. National income
C. All the taxes
D. GDP
National income
A variety of measures of national income and output are used in economics to estimate total economic activity in a country or region, including gross domestic product, gross national product, net national income, and adjusted national income.
Que (64):
Unemployment occurs when workers move from one job to another job?
A. Adverse selection
B. Adaptive expectations
C. Frictional unemployment
D. Amortisation
Frictional unemployment
Unemployment which occurs when workers move from one job to another job is known as. Seasonal unemployment. Frictional unemployment.
Que (65):
Which type of unemployment mostly found in India?
A. Open
B. Seasonal
C. Cyclical
D. Disguised
Disguised
Disguised unemployment is a kind of unemployment in which there are people who are visibly employed but are actually unemployed. This situation is also known as ‘hidden unemployment’.
Que (66):
Which is called a ‘banker’s cheque’ ?
A. Pay slip
B. Paycheck
C. Draft check
D. Demand draft
Demand draft
A banker’s draft, also known as a banker’s cheque, is like asking a bank to write a cheque for you. You give them your money and they give you a cheque for that amount to give to the person you’re paying.
Que (67):
Which is the first company-managed major port in India?
A. Tata consultants
B. ITC
C. Coal India
D. Ennroe
Ennore
Ennore is the first company-managed major port in India. This port is now named as Kamarajar Port Limited. It is first corporate port of India and is registered as a public company with 68% stake held by government.
Que (68):
Why is the Gross National Income always more than Net National Income?
A. Progressive taxes
B. Federal income tax
C. Direct taxes
D. Capital gains taxes
Direct taxes
Gross National Product (GNP) is Gross Domestic Product (GDP) plus net factor income from abroad.
Que (69):
Under VAT, how many slabs are there?
A. 1
B. 2
C. 3
D. 4
4
nan
Que (70):
By which ministry is Economic survey published?
A. Ministry of agriculture
B. Ministry of Commerce and Industry
C. Ministry of Communications and Information Technology.
D. Ministry of Finance
Ministry of Finance
It is expected to be released around 12:30 pm and will be made available on the finance ministry’s budget portal here. A flagship document of the finance ministry, the Economic Survey is a review of the developments in the Indian economy over the previous 12 months.
Que (71):
Which country produced 127 lakh metric tones fish in 2010?
A. Japan
B. China
C. Korea
D. Sri Lanka
Japan
Agriculture, farming, and fishing form the primary sector of industry of the Japanese economy
Que (72):
Which is the first multipurpose river valley project of independent India?
A. Almatti Dam
B. Beas project
C. Baspa river
D. Damodar Valley Corporation
Damodar Valley Corporation
The Damodar Valley Project is the first multipurpose river valley project of the independent India. Damodar Valley Corporation was established in 1948 to develop the Damodar river Valley spread in Jharkhand and West Bengal.
Que (73):
To which duties is the system of value added taxation applicable?
A. Import duty
B. Custom duty
C. Export duty
D. Excise duty
Excise duties
VAT was introduced value added tax (VAT) into the Indian taxation system from 1 April 2005.
Que (74):
Silver is obtained from the lead & Zinc ores of Zawar mines in which city?
A. Udaipur
B. Ranchi
C. Patiala
D. Nagpur
Udaipur
nan
Que (75):
How many of Banks were nationalised since 1969?
A. 19
B. 21
C. 14
D. 22
14
In a major process of nationalization, seven subsidiaries of the State Bank of India were nationalized via the State Bank of India (Subsidiary Banks) Act, 1959. In 1969, fourteen major private commercial banks were nationalized
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