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632228579 Indian Economy MCQs
632228579 Indian Economy MCQs
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1. Name the international financial institution which controls the exchange value of currencies of different countries
(A) IMF (International Monetary Fund)
(B) None of the above
(C) Federal Reserve system of USA
(D) International Bank for reconstruction and development
Correct Answer: [A] IMF (International Monetary Fund).
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8. When was the concept of the Human Development Index (HDI) introduced by the United Nations
Developmentment Programme?
(A) 1993
(B) 1995
(C) 1990
(D) 1991
Correct Answer: [C] 1990.
10. If the withdrawal of a worker from employment does not create any output loss, this situation is known as
(A) Disguised unemployment
(B) Frictional unemployment
(C) Search unemployment
(D) Voluntary unemployment
Correct Answer: [A] Disguised unemployment.
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(D) Bihar and West Bengal
Correct Answer: [C] Punjab and Haryana.
17. Under the chairmanship of Pandit Jawaharlal, Nehru Planning Commission was formed in the year
(A) 1951
(B) 1952
(C) 1949
(D) 1950
Correct Answer: [D] 1950.
18. The real introduction of Decentralized Planning in India was made for the first time during the
(A) 9th Plan
(B) 10th Plan
(C) 7th Plan
(D) 8th Plan
Correct Answer: [D] 8th Plan.
19. The Green Revolution in agriculture has made the Indian farmers dependent on
(A) Indigenous
(B) Availability of micro-nutrients
(C) Machines
(D) Fertilizers and pesticides
Correct Answer: [D] Fertilizers and pesticides.
20. Which Five Year Plan was suspended one year before its time schedule?
(A) Fifth Plan
(B) Sixth Plan
(C) Third Plan
(D) Fourth Plan
Correct Answer: [A] Fifth Plan.
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(C) The Gandhian Strategy
(D) The Mahalonobis Strategy
Correct Answer: [D] The Mahalonobis Strategy.
26. Whose name is associated with the formulation of Planning Strategy in the Second Five-Year Plan?
(A) Prasanta Chandra Mahalanobis
(B) B.R. Shenoy
(C) Mahatma Gandhi
(D) Jawaharlal Nehru
Correct Answer: [A] Prasanta Chandra Mahalanobis.
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(B) The Industrial Bank of India
(C) The Imperial Bank of India
(D) The National Bank of India
Correct Answer: [C] The Imperial Bank of India.
30. In which of the following years was the Food Corporation of India set up?
(A) 1965
(B) 1970
(C) 1955
(D) 1960
Correct Answer: [A] 1965
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35. Which out of the following, can be levied by the State Government
(A) Tax on profession
(B) Capital gains tax
(C) Income tax
(D) Wealth tax
Correct Answer: [A] Tax on profession.
39. Which of the Committees or Commissions made recommendations for granting more powers and responsibilities
to the Panchayati Raj?
(A) Mondal Commission
(B) None of the above
(C) Jain Commission
(D) Mehta Commission
Correct Answer: [D] Mehta Commission.
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Correct Answer: [D] Debtors.
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(D) Community
Correct Answer: [A] Area.
51. The SEBI was given statutory recognition in 1992 on the recommendation of
(A) the Tendulkar Committee.
(B) the Narasimham Committee
(C) the Chakraborty Commission.
(D) the Chelliah Committee.
Correct Answer: [B] the Narasimham Committee.
52. The iron and steel plants of Rourkela and Durgapur were conceived under the
(A) Third Five Year Plan
(B) Fourth Five Year Plan
(C) First Five Year Plan
(D) Second Five Year Plan
Correct Answer: [D] Second Five Year Plan.
54. From which year the policy of globalization of Indian economy has been followed? -
(A) 1991
(B) 2000
(C) 1980
(D) 1985
Correct Answer: [A] 1991.
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(C) (A) and (B)
(D) Controlling the supply of money
Correct Answer: [D] Controlling the supply of money.
57. The slogan Garibi Hatao was included in which Five year Plan?
(A) Fifth Plan
(B) Sixth Plan
(C) Third Plan
(D) Fourth Plan
Correct Answer: [A] Fifth Plan.
60. Which one of the following rates are not determined by the Reserve Bank of India?
(A) Repo Rate
(B) SLR
(C) CRR
(D) Prime Lending Rate
Correct Answer: [D] Prime Lending Rate.
61. In India, the natural rate of increase of population was highest during — decade.
(A) 1941-51
(B) 1921-31
(C) 1961-71
(D) 1981-91
Correct Answer: [D] 1981-91.
62. The Poverty line in India has been defined on the basis of
(A) Calorie intake index of the people
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(B) Income level of the majority of the people
(C) Standard of living of the people
(D) None of the above
Correct Answer: [A] Calorie intake index of the people.
63. Which of the following is not one of the sources of revenue of the village panchayat?
(A) Local taxes on land
(B) House tax
(C) Government grants
(D) Income tax
Correct Answer: [D] Income tax.
67. During which Five Year Plan was Green Revolution initiated in India?
(A) 5th
(B) 6th
(C) 3rd
(D) 4th
Correct Answer: [D] 4th.
68. After which five- year plan, planning had to be given a short holiday?
(A) Third five-year plan
(B) Fourth five-year plan
(C) Six five-year plan
(D) Second five-year plan
Correct Answer: [A] Third five-year plan.
69. Economic Reforms and liberalization were introduced in Indian planning in the -
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(A) 1970s
(B) 1980s
(C) 1960s
(D) 1990s
Correct Answer: [D] 1990s.
70. Which group of the society is worst affected by continuous inflationary price rise?
(A) Self-employed group
(B) Fixed income group
(C) Traders and merchants
(D) The investors class
Correct Answer: [B] Fixed income group.
74. Which of the following has been given special representation in Panchayatee Raj?
(A) Cooperative etic
(B) Women
(C) Backward classes
(D) All of the above
Correct Answer: [B] Women.
75. The Human Development Index was first introduced in the year.
(A) 1995
(B) 2000
(C) 1980
(D) 1990
Correct Answer: [D] 1990.
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76. The Sarkaria Commission was set up for the review of the relation between
(A) The Executive and the Judiciary
(B) The Centre and the States
(C) The Prime Minister and the President
(D) The Legislative and the Executive
Correct Answer: [B] The Centre and the States.
78. The basis for determination of Dearness Allowance of urban salaried workers and government employees in
India is
(A) CPI for agricultural laborers
(B) CPI for urban non-manual employees
(C) Wholesale Price Index
(D) Consumer Price Index (CPI) for industrial workers
Correct Answer: [D] Consumer Price Index (CPI) for industrial workers.
82. In India, fourteen major commercial banks were nationalized in the year
(A) 1969
(B) 1975
(C) 1949
(D) 1953
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Correct Answer: [A] 1969.
86. Which of the following is included in the Employees' State Insurance Act, 1948?
(A) Minimum Wages
(B) None of the above
(C) Unemployment Insurance
(D) Medical Benefit
Correct Answer: [D] Medical Benefit.
89. Which of the following taxes/duties is not under the jurisdiction of the Central Government?
(A) Corporate Income Tax
(B) Customs Duties
(C) Land Revenue
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(D) Personal Income Tax
Correct Answer: [C] Land Revenue.
95. When was the first West Bengal Human Development Report published?
(A) 2003
(B) 2004
(C) 2001
(D) 2002
Correct Answer: [B] 2004.
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(C) 1969-1971
(D) None of the above
Correct Answer: [B] 1966-1969.
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