Quiz on “UPSC MCQ On Indian Economy – 4” giving you an idea about questions asked on Indian Economy in competitive exams.
Which tax is levied by the Union and collected and appropriated by the States?
A. Petroleum
B. Service tax
C. Natural Gas
D. Stamp dutuies
Service tax
Service tax levied by Union and collected and appropriated by the Union and the States. (1) Taxes on services shall be levied by the Government of India and such tax shall be collected and appropriated by the Government of India and the States in the manner provided in clause (2).
Que (77):
Which is not a direct tax?
A. Tax on tobacco
B. Tax on alcohol
C. Tax on natural gas
D. Tax on entertainment
Tax on entertainment
Though the actual definitions vary between jurisdictions, in general, a direct tax is a tax imposed upon a person or property as distinct from a tax imposed upon a transaction, which is described as an indirect tax
Que (78):
Which can be used for checking inflation temporarily?
A. Decrease in money supply
B. Increse of money supply
C. Decrease of prices
D. Increase of prices
Decrease in money supply
The goal of a contractionary policy is to reduce the money supply within an economy by decreasing bond prices and increasing interest rates. … Reducing spending is important during inflation because it helps halt economic growth and, in turn, the rate of inflation.
Que (79):
Who are not protected against inflation?
A. Everyone
B. Co-orporates
C. Banks
D. Agricultural farmers
Agricultural farmers
In economics, inflation is a sustained increase in the general price level of goods and services in an economy over a period of time. It is caused when increase in money supply and production falls. inflation results in rise in general price index.
Que (80):
Which is the ‘basis for determining the national income?
A. Taxes collection
B. Custom taxes
C. Imports
D. GDP
GDP
The broadest and most widely used measure of national income is gross domestic product (GDP), the value of expenditures on final goods and services at market prices produced by domestic factors of production (labor, capital, materials) during the year.
Que (81):
What is the mean of ‘Take off stage’ in an economy?
A. The GDP Growth
B. The ise in income
C. The decrease of inflation
D. Steady growth begins
Steady growth begins
Rostow’s Take-Off Stage of Economic Growth. … The self-reliant growth is also known as take off, an initial push, a big push, a critical minimum effort, a great lead forward.
Que (82):
When was EXIM Bank set-up?
A. 1981
B. 1984
C. 1988
D. 1990
1982
Exim Bank of India was established on January 1, 1982 under the Export Import Bank of India Act and commenced its operations in March 1982.
Que (83):
Which is at the apex of Industrial Finance in India?
A. RBI
B. IDBI
C. SEBI
D. none of these
Industrial Development Bank of India
In 1976, the IDBI delinked its operations with the RBI. It then emerged as an apex agency or a milestone in the operation of institutional finance.
Que (84):
What is in terms of the railway system India’s position in the world?
A. First
B. Fourth
C. Ninth
D. Second
Fourth
The network carried about eight billion passengers (the highest in the world) and 1.01 million tonnes of freight (fourth highest in the world) in 2013.
Que (85):
What is the most appropriate measure of a country’s economic growth?
A. The cash it generates
B. The currency rate
C. The total tax incomes
D. Per capita real income
Per capita real income
nan
Que (86):
CENVAT was associated with which rate?
A. Rate of direct tax
B. Rate of indirect tax
C. Rate of regressive tax
D. Rate of Federal tax
Rate of indirect tax
The standard rate Value Added Tax is 19%, the reduced rate applicable to a restrictive list of products and services is 9 % and 0% for exempted goods and activities.
Que (87):
Of the various ways of financing government’s investment expenditure, what is the least inflationary?
A. Income accounting
B. Exports accounts
C. Taxation
D. Cash printing accounts
Taxation
Taxation is a term for when a taxing authority, usually a government, levies or imposes a tax. The term “taxation” applies to all types of involuntary levies, from income to capital gains to estate taxes.
Que (88):
By which band is Monetary policy regulated?
A. State bank
B. Central Bank
C. SEBI
D. RBI
Central Bank
Central Bank of India, a government-owned bank, is one of the oldest and largest commercial banks in India.
Que (89):
If the price of an inferior good falls, what about its demand?
A. Increases
B. Decreases
C. Remains constant
D. none of these
Remains constant
Some goods are known as inferior goods. With inferior goods, there is an inverse relationship between real income and the demand for the good in question. If real incomes rise, the demand for an inferior good will fall.
Que (90):
In which sector is 70% of working population of India engaged?
A. Primary sector
B. Tertiary sector
C. Secondary sector
D. None of these
Primary sector
Since most of the natural products we get are from agriculture, dairy, forestry, fishing, it is also called Agriculture and allied sector.
Que (91):
In India, in which banking is the Public Sector is most dominant?
A. Central banking
B. Retail banking
C. Shadow banking
D. Commercial banking
Commercial banking
Some commercial banks in India are – ICICI Bank, State Bank of India, Axis Bank, and HDFC Bank, Punjab national bank, Central bank of India. At present, there are 20 Public Sector Banks in India including SBI.
Que (92):
Which does not have a unit of Hindustan Aeronautics Ltd (HAL) ?
A. Kolkata
B. Ranchi
C. Bihar
D. Chattisgarh
Kolkata
Hindustan Aeronautics Limited is an Indian state-owned aerospace and defence company headquartered in Bengaluru, India.
Que (93):
Where are Diesel locomotives manufactured?
A. Haridwar
B. Varnasi
C. Bihar
D. Rajasthan
Varanasi
The Diesel Locomotive Works in Varanasi, India, is a production unit of Indian Railways, that manufactures diesel-electric locomotives and its spare parts.
Que (94):
Which is the largest Public Sector Bank in India?
A. Indusland bank
B. State bank of india
C. Canara bank
D. Andhra bank
State Bank of India
The State Bank of India is an Indian multinational, public sector banking and financial services statutory body. It is a government corporation statutory body headquartered in Mumbai
Que (95):
Who is responsible for the collection and publication of monetary and financial information?
A. RBI
B. SBI
C. SEBI
D. None of these
Reserve Bank of India
The Reserve Bank of India is India’s central bank, which controls the issue and supply of the Indian rupee. RBI is the regulator of entire Banking in India.
Que (96):
What is the main source of revenue to meet different expenditures?
A. Tax rates
B. Internation Debts
C. Internal borrowings
D. Price of commodites
Internal borrowings
Internal borrowing describes a process of borrowing in which a word is copied from a non-standard variety into the standard language
Que (97):
With which was Tarapore Committee associated?
A. Taxes
B. Capital
C. Accounts
D. Fuller capital account convertibility
Fuller capital account convertibility
The Committee on Capital Account Convertibility (CAC) or Tarapore Committee was constituted by the Reserve Bank of India for suggesting a roadmap on full convertibility of Rupee on Capital Account. The committee submitted its report in May 1997.
Que (98):
Which Mahatma Gandhi series of currency notes issued by the RBI has “ecology” depicted on it ?
A. Rs 100
B. Rs 200
C. Rs 300
D. Rs 400
Rs. 100
nan
Que (99):
Among Indian Economists who had done pioneering work on National Income ?
A. Amartya Sen
B. Manmohan Singh
C. Raghuram Rajan
D. V.K.R.V.Rao
V.K.R.V.Rao
Vijayendra Kasturi Ranga Varadaraja Rao was an Indian economist, politician and educator from Tamil Nadu.
Que (100):
Who was the chairman of National Income Committee?
A. nan
B. nan
C. nan
D. nan
P.C.Mahalanobis
After independence, the Government of India appointed the National Income Committee in August, 1949 with Prof. PC. Mahalnobis as its Chairman and Prof.
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