Indian Economy-Objective GK Questions

Indian Economy-Objective GK Questions

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91. ‘Gresham’s law’ in economics relates to—
(A) Supply and demand
(B) Circulation of currency
(C) Consumption of supply
(D) Distribution of goods and services

92. Which one of the following sets of sources of revenue belongs to the union government alone ?
(A) Gift tax, Holding tax
(B) Sales tax, Income tax
(C) Custom duties, Corporation tax
(D) Wealth tax, Land revenue

93. Under the National Rural Employment Guarantee Scheme, number of days for which employment guarantee during one year has been given is—
(A) 90 days
(B) 100 days
(C) 120 days
(D) 180 days

94. Consider the following—
1. Regional Rural Banks
2. Lead Bank Plan
3. NABARD
4. State Bank of India
The correct chronological sequence of establishing of these is—
(A) 4 3 1 2
(B) 4 2 1 3
(C) 2 3 4 1
(D) 2 1 4 3

95. A mixed economy works primarily through the—
(A) Market mechanism
(B) Central allocative machinery
(C) Market mechanism regulated by government policy
(D) Market mechanism guided by government participation and planning

96. Consider the following statements about the reason for low per capita income in Uttar Pradesh—
1. Fast growing population
2. Lack of entrepreneurship
3. Inadequate infrastructural facilities
4. Modernisation of agriculture
Of these statements, which of the following group is correct ?
(A) 1, 2 and 4
(B) 1, 2 and 3
(C) 2, 3 and 4
(D) 1, 3 and 4

97. In which financial year, the Union Budget proposed to extend the national agriculture insurance scheme to Kharif crop as well ?
(A) 2005-06
(B) 2004-05
(C) 2003-04
(D) 2002-03

98. Which one of the following is not the objective of current national electricity policy ?
(A) Access to electricity available for all household in next five years
(B) Fulfil the electricity power demand by 2012
(C) Protection of consumer’s interest
(D) Reduce the per unit price of electricity

99. Free trade policy refers to a policy where there is—
(A) Absence of tariff
(B) Restriction on the movement of goods
(C) Existence of anti-dumping policy
(D) Encouragement for balanced growth

100. What is estimated tax—GDP ratio for 2008-09?
(A) 11 per cent
(B) 12 per cent
(C) 9·2 per cent
(D) 12·97 per cent

101. J. J. Irani Committee has been set up to suggest change in—
(A) Indian Telegraph Act
(B) Cable Act
(C) Companies Act
(D) Patent Act

102. Consider the following statements for ‘India Millennium Deposits’ scheme—
1. The scheme was launched by the State Bank of India
2. It was intended for Non-Resident Indians (NRIs) and Overseas Corporate Bodies (OCBs)
3. The maturity period of the scheme was six years only
Which of the statements given above is/are correct ?
(A) 1 and 2 only
(B) 1 and 3 only
(C) 1, 2 and 3
(D) 1 only

103. How will a reduction in ‘Bank rate’ affect the availability of credit ?
(A) Credit will increase
(B) Credit will not increase
(C) Credit will decrease
(D) None of the above

104. Who among the following was not the Governor of Reserve Bank of India ?
(A) Manmohan Singh
(B) Bimal Jalan
(C) C. Rangarajan
(D) Raja J. Chelliah

105. The first export processing zone of the private sector was established at—
(A) Surat
(B) Noida
(C) Chennai
(D) Mangalore

106. Which of the following method is not used by N.S.S.O. for the measurement of unemployment in India ?
(A) Usual Principal Status
(B) Current Monthly Status
(C) Current Weekly Status
(D) Current Daily Status

107. In Human Development Report 2007, which rank among 177 nations has been assigned to India with respect to human development index ?
(A) 125th
(B) 126th
(C) 127th
(D) 128th

108. The largest tax revenue earner for India in the fiscal year 2009-10 (Interim BE) is—
(A) Income tax
(B) Custom duty
(C) Union excise duty
(D) Corporation tax

109. Which one of the following is not related with income from corporate sector in India ?
(A) Fringe benefit tax
(B) Minimum alternate tax
(C) Capital gains tax
(D) Tax on company profit

110. A larger part of the fiscal deficit in the union budgets is filled by—
(A) Tax revenue
(B) Domestic borrowing
(C) Foreign borrowing
(D) Printing paper currency

111. ‘BSE Sensex’ is an index to measure ups and downs in the share market. The number of companies covered under the index are—
(A) 30
(B) 50
(C) 100
(D) 150

112. Prarambhik Shiksha Kosh (PSK) was constituted in 2005 to receive the proceeds of the—
(A) Donation from public and NGOs
(B) Revenues generated by Gram Sabhas for the development of primary education
(C) Education cess imposed by the centre
(D) Contributions from the World Bank for the development of primary education

113. When a large number of investors in a country transfer their investments elsewhere because of disturbed economic conditions, it is called—
(A) Transfer of capital
(B) Escape of capital
(C) Outflow of capital
(D) Flight of capital

114. On the basis of size and composition of external debt. World Bank has classified India as—
(A) A less indebted country
(B) A moderately indebted country
(C) A heavily indebted country
(D) A severely indebted country

115. India’s tax effort measured as tax to GDP ratio is at present (2009-10) around—
(A) 8%
(B) 10%
(C) 11·1%
(D) 32%

116. Golden Handshake Scheme is associated with—
(A) Inviting foreign companies
(B) Private investment in public enterprises
(C) Establishing joint-enterprises
(D) Voluntary retirement

117. A dual economy means—
I. The existence of black money and white money
II. The existence of agriculture and industry.
III. The existence of commercial agriculture with subsistence farming.
IV. Modern industry and commercial agriculture co-existing with subsistence farming and traditional handicrafts.
Codes :
(A) I only
(B) I, II and IV
(C) II, III and IV
(D) All of these

118. Acute shortage of capital, technological backwardness and lack of skilled manpower have greatly obstructed the economic development of India. These are—
(A) Political factors
(B) Economic factors
(C) Social factors
(D) None of these

119. A significant victory for the developing countries on the issue of TRIPS at the Doha meet was—
(A) Postponement of the issue of labour standards
(B) Special dispensation for least developed countries
(C) Power to grant exemption from patent regime in the interest of public health
(D) Discussion on implementation issues

120. Which of the following organizations/agencies recently decided to provide grades to the merchant bankers so that they contract the market and ensure that only good issues arrive in the market ?
(A) RBI
(B) SEBI
(C) AMFI
(D) Registrar of Companies
(E) None of these

Answers :
91. (B) 92. (C) 93. (B) 94. (B) 95. (C) 96. (B) 97. (A) 98. (D) 99. (A)
100. (D) 101. (C) 102. (A) 103. (A) 104. (D) 105. (A) 106. (B) 107. (D) 108. (D) 109. (C)
110. (B) 111. (A) 112. (C) 113. (D) 114. (A) 115. (C) 116. (D) 117. (C) 118. (B) 119. (C)120. (A)