Practice Quiz set 7 - indian economy mcq Online Quiz (set-1) For All Competitive Exams
Q-1) Which of the following controls the insurance business of India?
(a)
(b)
(c)
(d)
The Insurance Regulatory and Development Authority of India (IRDAI) is an autonomous, statutory agency tasked with regulating and promoting the insurance and re-insurance industries in India. It was constituted by the Insurance Regulatory and Development Authority Act, 1999.
Q-2) Paper currency first started in India in
(a)
(b)
(c)
(d)
Q-3) The new Agricultural Strategy in India was introduced in
(a)
(b)
(c)
(d)
In India, a new agricultural strategy was initiated in 1966-67. This initiative heralded the introduction of High Yield Variety of wheat to tackle food security and led to the Green Revolution in India.
Q-4) As per newspapers report what percent of Government stake will be disinvested in Rashtriya Ispat Nigam Ltd. (RINL) ?
(a)
(b)
(c)
(d)
Rashtriya Ispat Nigam Ltd (RINL), on 23 September 2014, filed a draft prospectus with market regulator SEBI for an initial public offering (IPO) through which the government will sell 10 per cent of its stake in the company.
The government proposes to raise Rs 43,425 crore through disinvestment in PSUs.
Q-5) What is the animal on the insignia of the RBI ?
(a)
(b)
(c)
(d)
The logo of the Reserve Bank of India comprises a tiger walking underneath a palm tree. When RBI was created, it was decided that the reverse of Double Mohur, the Lion and Palm design should be used as the emblem of RBI. The last minute modification was made introducing Tiger instead of Lion
Q-6) Which organisation collects data for the unorganised sector ?
(a)
(b)
(c)
(d)
The National Sample Survey Office(NSSO) in India is a unique setup to carry out surveys on socioeconomic, demographic, agricultural and industrial subjects for collecting data from households and from enterprises located in villages and in the towns.
The unregistered manufacturing sub-sector, a complement set to the registered manufacturing sub-sector, covers all the residual units which are not covered under the registered manufacturing sector.
Thus, the unregistered manufacturing sector covers all the manufacturing, processing, repair & maintenance services units employing less than 10 workers and using power or less than 20 workers and not using power. The data on the unorganised sector is collected through periodic surveys by the NSSO.
Q-7) The 14th Finance Commission has recommended increase in States share in net proceeds from tax collection from 32% to
(a)
(b)
(c)
(d)
In the largest ever change in the percentage of devolution, the 14thFinance Commission (FFC) recommended that the States’ share in the net proceeds of the Union tax revenues by 42%.
The recommendation of tax devolution at 42% is a huge jump from the 32% recommended by the 13thFinance Commission.
Q-8) Which of the following does not form a part of the foreign exchange reserves of India ?
(a)
(b)
(c)
(d)
Foreign-exchange reserves are assets held by central banks and monetary authorities, usually in different reserve currencies, mostly the United States dollar.
However, the term in popular usage commonly also adds gold reserves, special drawing rights (SDRs), and International Monetary Fund (IMF) reserve positions.
Q-9) One of the reasons for India’s occupational structure remaining more or less the same over the years has been that : - invest pattern has been directed towards capital intensive industries
- productivity in agriculture has been high enough to induce people to stay with agriculture
- ceiling on land holdings have enabled more people to own land and hence their preference to stay with agriculture
- people are largely unaware of the significance of transition from agriculture to industry for economic development
Find out the correct option from the code :
(a)
(b)
(c)
(d)
The gap between poor and rich will be wide and it must be increase when their investment lean towards capital sector. They only prefer profit.
Q-10) Consider the following statements- The current Economic Census is the seventh in the series so far conducted in India.
- The Economic Census in India is undertaken by the Department of Economic Affairs (Union Ministry of Finance).
Which of the statements given above is/are correct?
(a)
(b)
(c)
(d)
In 1976, Government of India launched a plan scheme called “Economic Census and Surveys”. In 1977 Central Statistical Organisation conducted First economic census in collaboration with the Directorate of Economics & Statistics (DES) in the States/Union Territories. Current Economic Census is Sixth Economic Census held in 2013.
The Central Statistics Office (CSO) in the Ministry of Statistics and Programme Implementation (MOSPI) conducted the Sixth Economic Census during January, 2013 to April, 2014 in collaboration with Directorates of Economics and Statistics in all the States and Union Territories.