Practice Quiz set 13 - indian economy mcq Online Quiz (set-1) For All Competitive Exams

Q-1)   Which of the following PSUs has been privatised?

(a)

(b)

(c)

(d)

Explanation:

Hindustan Zinc Limited (HZL) is an integrated mining and resources producer of zinc, lead, silver and cadmium. It is a subsidiary of Vedanta Resources PLC. HZL is the world’s second-largest zinc producer. Hindustan Zinc Limited was incorporated from the erstwhile Metal Corporation of India on 10 January 1966 as a Public Sector Undertaking. In 2001 as part of the BJP Government’s anti-corruption drive, the company was put up for sale.

In April 2002, Sterlite Opportunities and Ventures Limited (SOVL) made an open offer for the acquisition of shares of the company; consequent to the disinvestment of Government of India’s (GOI) stake of 26% including management control to SOVL and acquired an additional 20% of shares from the public, pursuant to the SEBI Regulations 1997.

In August 2003, SOVL acquired additional shares to the extent of 18.92% of the paid-up capital from GOI in the exercise of the “call option” clause in the share holder’s agreement between GOI and SOVL.


Q-2)   Consider the following statements :
  1. Higher growth in GDP and population can occur together.
  2. Per capita income always decreases with high population growth.
Which of the statements given above is/are correct?

(a)

(b)

(c)

(d)

Explanation:

Higher growth in GDP and population can occur together. Per capita income always decreases with high population growth as income per person decreases with rise in population.


Q-3)   Which among the following is the full form of GDP?
  1. Gross Data Product
  2. Gross Domestic Product
  3. Group Domestic Product
  4. Group Data Product

(a)

(b)

(c)

(d)


Q-4)   Rashtriya Krishi Bima Yojana was introduced in

(a)

(b)

(c)

(d)

Explanation:

The Rashtriya Krishi Bima Yojna was introduced in 1999.

The scheme provides comprehensive risks insurance against yield losses viz. Drought, Hailstorm, Floods, Pests Disease etc. It is implemented by the Agriculture Insurance Corporation of India (AIC).


Q-5)   India’s First Five Year Plan gave priority to

(a)

(b)

(c)

(d)

Explanation:

The First Five-Year Plan (1951–1956), based on the Harrod-Domar model, addressed, mainly, the agrarian sector, including investments in dams and irrigation.

The total planned budget of Rs.2069 crore was allocated to seven broad areas:

  1. irrigation and energy (27.2 percent),
  2. agriculture and community development (17.4 percent),
  3. transport and communications (24 percent),
  4. industry (8.4 percent),
  5. social services (16.64 percent),
  6. land rehabilitation (4.1 percent), and
  7. for other sectors and services (2.5 percent).


Q-6)   During which Five Year Plan, the price level in Indian economy showed a decline?

(a)

(b)

(c)

(d)

Explanation:

During first FiveYear Plan ( 1951–56) the price level in Indian economy showed a decline because of rapid agricultural development and measures to control inflation as there was disequilibrium due to second world war and partition of economy.


Q-7)   NTPC is a Central Public Sector Enterprise in which sector?

(a)

(b)

(c)

(d)

Explanation:

NTPC Limited (previously known as National Thermal Power Corporation Limited) is an Indian PSU Public Sector Undertaking, engaged in the business of generation of electricity and allied activities.

NTPC’s core business is the generation and sale of electricity to state-owned power distribution companies and State Electricity Boards in India.


Q-8)   Per Capita income is maximum in which of the following states in India?

(a)

(b)

(c)

(d)

Explanation:

Generally, per capita income is the indicator of the progress of any country. According to World Development Report 2009, the per capita income of India was $950. Goa has the highest per capita income in India.

Goa leads the country with a per capita income of Rs.1,92,652. Delhi comes in second after Goa with PCI of Rs.1,75,812 followed by Chandigarh (1,28,634 – 2011) & Haryana (1,09,227).

Note: According to recent data given by the Ministry of Statistics and Programme Implementation, Goa has the highest NSDP per capita among 33 Indian states and union territories.

NSDP per capita of Goa is estimated at 224,138 Indian rupees in 2013-14 at current prices. The ranking of Delhi is two with a per capita income of around 212,219 INR. Sikkim is third, Chandigarh is fourth and Puducherry is the fifth richest economy of India.

Bihar, Uttar Pradesh, Manipur, Assam, and Jharkhand is top 5 poorest state in terms of NSDP per capita. These five states have net state domestic product per capita below Rs.50,000.


Q-9)   Consider the following statement
  1. The immediate objective is to address the unmet needs for contraception, health care infrastructure and basic reproductive and child health care.
  2. The medium-term objective is to bring the Total Fertility Rate (TFR) to replacement levels of 2.1 by 2010.
  3. The long-term objective is to achieve a stable population by 2045, at a level consistent with the requirement of sustainable economic growth, social development and environmental protection.
Which of the following statement is true for NPP objective?

(a)

(b)

(c)

(d)

Explanation:

The Government of India in February 2000, announced the National Population Policy (NPP) with the objectives,

  1. The immediate objective is to address the unmet needs for contraception, health care infrastructure and basic reproductive and child health care.
  2. The medium-term objective is to bring the Total Fertility Rate (TFR) to replacement levels of 2.1 by 2010.
  3. The long-term objective is to achieve a stable population by 2045, at a level consistent with the requirement of sustainable economic growth, social development and environmental protection.


Q-10)   Consider the following statement in regard to reserve currency :
  1. Reserve currency acts as the international pricing currency in the global market for commodities like oil and gold.
  2. The country whose local currency is accepted as reserve currency gets an added advantage in terms of lower commodity rates in the international market.
Which of the statements given above is/are correct

(a)

(b)

(c)

(d)

Explanation:

A reserve currency (or anchor currency) is a currency that is held in significant quantities by governments and institutions as part of their foreign exchange reserves, and that is commonly used in international transactions for commodities like oil and gold.

Persons who live in a country that issues a reserve currency can purchase imports and borrow across borders more cheaply than persons in other nations because they need not exchange their currency to do so.