introduction to indian economy section 3 MCQ Questions & Answers Detailed Explanation
MOST IMPORTANT indian economy mcq - 14 EXERCISES
-
Top 500+ Basic Indian Economy GK MCQ Quiz For SSC IBPS »
-
New Indian Economy GK MCQ Quiz PDF For UPSC/IAS Prelims »
-
Basic Indian Economy Concepts MCQs Quiz For RRB NTPC Exam »
-
New 499+ Fundamentals of Indian Economy MCQ Quiz For IBPS »
-
555+ Indian Economy Concepts Basics Fundamentals MCQ Quiz »
-
Top 500+ Indian Economy GK MCQs Quiz PDF For SSC UPSC RRB »
-
New 499+ Indian Economy GK Question And Answers Quiz PDF »
-
Best 500+ Indian Economy General Knowledge MCQ Quiz PDF »
-
500+ Indian Economy General Studies Online MCQ Quiz PDF »
-
New 500+ Indian Economy Basic Static GK MCQ Quiz For IBPS »
-
500+ Introduction to Indian Economy GK MCQ Quiz For SSC »
-
800+ Latest Indian Economy GK Questions & Answers MCQ PDF »
-
1000+ Indian Economy GK Questions And Answers Quiz PDF »
-
1000+ Indian Economy Basic Concepts GK MCQ PDF For SBI PO »
The following question based on Introduction to Indian Economy topic of indian economy mcq
- Subsidies
- Interest payments
- Defence expenditure
- Maintenance expenditure for the infrastructure
(a) 2 and 4
(b) 1 and 3
(c) 1 and 2
(d) 1, 2, 3 and 4 all
The correct answers to the above question in:
Answer: (d)
Expenditure incurred on the non-development plans is called non-plan expenditure, which includes subsidies, interest payments, etc.
Non-plan revenue expenditure is accounted for by,
- interest payments,
- subsidies,
- wage and salary payments to government employees,
- grants to States and Union Territories governments,
- pensions,
- police, and economic services in various sectors,
- other general services, such as tax collection, social services, and grants to foreign governments.
Non-plan capital expenditure mainly includes defence, loans to public enterprises, loans to states, Union territories and foreign governments.
Discuss Form
Read more introduction Based Indian Economy Questions and Answers
Question : 1
Role of the government in the economy is
- Provision of public goods
- Provision of merit goods
- Poverty reduction
a) 2 only
b) 3 only
c) 1 only
d) 1, 2 and 3
Answer »Answer: (d)
Provision of public goods like defence which no private agency can be entrusted with.
Provision of merit goods - goods like education and housing - through policies which encourage the consumption of such goods and discourage the use of non-merit goods like cigarettes.
Poverty reduction is considered a prime responsibility of all modern governments, as the market caters to the needs of only those who can afford to pay, not of the poor.
Question : 2
India adopted the Five-Year Plans from
a) former USSR
b) France
c) America
d) England
Answer »Answer: (a)
India borrowed features of fundamental duties and planning mechanisms from the former Soviet Union. India opted for a planned economic growth model as resources were scarce at the time of independence.
So it was imperative for the leaders to move along planned model so as to achieve optimum utilization of resources development and meeting the aim of social justice simultaneously.
Question : 3
Which one of the following is not a qualitative control of credit by the Central Bank of a country ?
a) Regulation of consumer credit
b) Rationing of credit
c) Variation of margin requierments.
d) Regulation of margin requirements.
Answer »Answer: (c)
Qualitative credit (used by the RBI for selective purposes) are:
- Margin requirements,
- Consumer Credit Regulation,
- RBI Guidelines,
- Rationing of credit,
- Moral Suasion and
- Direct Action.
The Quantitative Credit measures which control the total quantity of credit are:
- Bank Rate policy,
- Open Market Operations,
- Cash Reserve Ratio and
- Statutory Liquidity Ratio.
Question : 4
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 : 5
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 : 6
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.
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
Introduction to Indian Economy Shortcuts and Techniques with Examples
Verbal Reasoning
Question & Answer Quiz
Non Verbal Reasoning
Question & Answer Quiz
Quantitative Aptitude
Question & Answer Quiz
Computer MCQ
Question & Answer Quiz
General English
Question & Answer Quiz
History GK
Question & Answer Quiz
Polity GK
Question & Answer Quiz
Geography GK
Question & Answer Quiz
Economy GK
Question & Answer Quiz
General Awareness GK
Question & Answer Quiz
Recently Added Subject & Categories For All Competitive Exams
Most Important Antonyms Vocabulary - IBPS Clerk Prelims 2024
Latest Antonyms multiple choice questions and answers with free PDFfor IBPS Clerk Prelims 2024. English Vocabulary practice exercise for all bank exam
Continue Reading »
Syllogism Practice Questions Answers PDF - IBPS Clerk 2024
Practice Verbal Reasoning Syllogism multiple choice questions and answers with Fully solved explanation, PDF for the IBPS Clerk Prelims 2024 Bank Exam
Continue Reading »
IBPS Clerk Prelims 2024 Synonyms Questions Solved Answers
Most important IBPS Clerk Prelims 2024 Synonyms and Antonyms multiple choice questions and answers with detailed solutions, English vocabulary PDF Download
Continue Reading »
New Cloze Test Questions and Answers PDF - IBPS Clerk 2024
The most important Cloze Test questions with detailed answers for upcoming IBPS Clerk prelims 2024. Latest English verbal ability practice MCQs, PDF
Continue Reading »