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
(a) Income of any individual less than 50 INR in a day
(b) Income of an individual under a threshold value published by Government of India
(c) Average income of all the individuals in a country
(d) Income of a family less than 100 INR in a day
The correct answers to the above question in:
Answer: (b)
The poverty line in India defines a threshold income; households earning below this threshold are considered poor.
In 2011, the Suresh Tendulkar Committee defined the poverty line on the basis of monthly spending on food, education, health, electricity and transport.
According to this estimate, a person who spends Rs.27.2 in rural areas and Rs.33.3 in urban areas a day are defined as living below the poverty line.
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Read more introduction Based Indian Economy Questions and Answers
Question : 1
Consider the following statements in regard to inclusive development :
- Inclusive developments refer to the social inclusion of the socially excluded sections of the society.
- Creating productive and gainful employment opportunities.
a) 2 only
b) Both 1 and 2
c) 1 only
d) Neither 1 nor 2
Answer »Answer: (b)
Inclusive growth is a concept that includes an equitable allocation to every section of society.
It creates an environment of equality in opportunity in all dimensions such as employment creation, market, consumption, and production and has created a platform for people who are poor to access a good standard of living.
Question : 2
With the inclusion of Shipping Corporation of India recently in the list of Nav Ratna PSEs, their number now stands at
a) 16
b) 15
c) 17
d) 18
Answer »Answer: (a)
Navratna was the title given originally to nine Public Sector Enterprises (PSEs) identified by the Government of India in 1997 as “public sector companies that have comparative advantages”, giving them greater autonomy to compete in the global market so as to “support [them] in their drive to become global giants”.
The number of PSEs having Navratna status has been raised to 16, the most recent addition being Oil India Limited.
Question : 3
Who has provided the Savings Bank facility to the largest number of account-holders in India?
a) Punjab National Bank
b) State Bank of India
c) Allahabad Bank
d) Post Office
Answer »Answer: (d)
The Department of Posts, trading as India Post, is a government-operated postal system in India. Owing to its far-flung reach and its presence in remote areas, the Indian postal service is involved in other services such as small savings banking and financial services.
The post office has offered and continues to offer various savings schemes, including National Savings Certificates, the Public Provident Fund, Savings Bank Accounts, Monthly Income Schemes, Senior Citizen Saving Schemes, and Time Deposit Accounts.
Small savings accounts in rural post offices were a keystone to the department’s policy and the department had the largest number of savings accounts across the country.
Question : 4
Consider the following statements:
- The Central Statistical Organisation (CSO) is responsible for calculating the consumer price indices for urban non-manual employees.
- National Sample Survey Organisation (NSSO) collects data for estimating national income.
- NSSO collects rural retail price on monthly basis for calculating Consumer Price Index.
- CSO conducts periodic economic census to collect data on unorganised enterprises.
a) 2 and 4
b) 1, 3 and 4
c) 1, 2, 3 and 4
d) 3 and 4
Answer »Answer: (c)
Question : 5
Commercialisation of agriculture implies
a) production of crops like wheat or rice
b) plantation
c) production of crops for sale
d) cultivation of timbers
Answer »Answer: (c)
Commercial agriculture is the large-scale production of crops for sale, intended for widespread distribution to wholesalers or retail outlets.
In commercial farming crops such as wheat, maize, tea, coffee, sugarcane, cashew, rubber, banana, and cotton are harvested and sold into world markets.
Question : 6
Which Indian company secured the highest export revenue from IT software and services during the past two years ?
a) Infosys Technologies Ltd.
b) TCS
c) Wipro Technologies Ltd.
d) Satyam Computer Services Ltd.
Answer »Answer: (b)
Tata Consultancy Services (TCS) is India’s top software services exporter. TCS is part of the Tata Group conglomerate that also manufactures cars and steel, and serves customers including Citigroup Inc and BP Plc.
It is one of India’s most valuable companies and is the largest India-based IT services company by 2012 revenues.
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