introduction to indian economy section 3 MCQ Questions & Answers Detailed Explanation
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The following question based on Introduction to Indian Economy topic of indian economy mcq
- Opening educational centres.
- Opening wealth management centres by Citibank.
- Eradication of poverty.
- Report of Khan Commission on financial inclusion.
(a) 1, 3 and 4
(b) 1, 2 and 4
(c) 1, 2 and 3
(d) 1, 2, 3 and 4
The correct answers to the above question in:
Answer: (b)
Financial inclusion is the delivery of financial services, at affordable costs, to sections of disadvantaged and low-income segments of society.
It includes opening educational centres, opening wealth management centres by Citibank, etc. Khan Commission had put the report on financial inclusion.
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Read more introduction Based Indian Economy Questions and Answers
Question : 1
Which of the following can be called as a part of the service sector?
a) Banking
b) Agricultural
c) Coal mines
d) Textile mills
Answer »Answer: (a)
The tertiary sector of the economy (also known as the service sector) is one of the three economic sectors. The service sector consists of activities where people offer their knowledge and time to improve productivity.
Examples of tertiary industries may include the following:
- telecommunication,
- hospitality industry/tourism,
- mass media,
- healthcare/hospitals,
- information technology,
- banking,
- insurance,
- investment management,
- accountancy,
- legal services,
- consulting,
- retail sales,
- real estate,
- education.
Question : 2
Which is not the objective of Public Procurement and Distribution system followed by Indian Government ?
a) Protect the interests of both consumers and poor farmers
b) Maintain price stability through creation of buffer stocks
c) Control the production of food grains
d) Reduce personal and regional inequality in the distribution
Answer »Answer: (c)
Since 1951 public distribution of food grains has been retained as deliberate social policy by India with the objectives of:
- Providing food grains and other essential items to vulnerable sections of the society at reasonable (subsidized) prices;
- put an indirect check on the open market prices of various items and
- attempt socialization in the matter of distribution of essential commodities.
PDS is an important constituent of the strategy for poverty eradication and is intended to serve as a safety net for the poor. Controlling the production of food grains is not the avowed aim of this system. It is a welfare measure, not some economic regulatory system.
Question : 3
Scheduled Banks have to be registered with
a) SBI
b) RBI
c) Finance Ministry
d) SEBI
Answer »Answer: (b)
The scheduled primary (urban) cooperative banks are required to maintain with the Reserve Bank of India an average daily balance, the amount of which should not be less than 5 per cent of their net demand and time liabilities in India in terms of Section 42 of the Reserve Bank of India Act, 1934.
Non-scheduled (urban) cooperative banks, under the provision of Section 18 of Banking Regulation Act, 1949 (As Applicable to Cooperative Societies) should maintain a sum equivalent to at least 3 per cent of their total demand and time liabilities in India on a day-to-day basis.
Question : 4
Which car has been the best seller in India in 2004-2005 ?
a) Maruti Suzuki Alto
b) Maruti 800
c) Tata Indica
d) Santro Xing
Answer »Answer: (a)
After beating the Maruti 800 over the second half of 2004, the Maruti Alto officially took the title of the bestselling car in India over the Full Year 2005.
Below the Alto at 102,970 units, the Hyundai Santro (aka Atos), built-in India, took the 2nd spot over the period at 73,822 sales and the Tata Indica was 3rd with 70,267 sales.
Question : 5
Consider the following statements and select the correct code :
- Most of the governments run unbalanced budgets.
- In a balanced budget there could be budget surplus but no budget deficit.
a) Only 2
b) Both 1 and 2
c) Only 1
d) Neither 1 nor 2
Answer »Answer: (c)
When the total expenditures of a government is equal to the taxes and other receipts it is a balanced budget. All budgets with either deficits or surpluses are unbalanced.
Question : 6
The Gandhian economy is based on the principle of
a) Trusteeship
b) State control
c) Competition
d) None of the above
Answer »Answer: (a)
GET Introduction to Indian Economy PRACTICE TEST EXERCISES
introduction to indian economy section 1
introduction to indian economy section 2
introduction to indian economy section 3
introduction to indian economy section 4
introduction to indian economy section 5
introduction to indian economy section 6
introduction to indian economy section 7
introduction to indian economy section 8
introduction to indian economy section 9
introduction to indian economy section 10
introduction to indian economy section 11
introduction to indian economy section 12
introduction to indian economy section 13
introduction to indian economy section 14
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