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The following question based on Introduction to Indian Economy topic of indian economy mcq
(a) Those who own land and lease in from others or institutions and cultivate
(b) Those who lease in land and cultivate
(c) Those who cultivate the land of others
(d) Those who own land and cultivate
The correct answers to the above question in:
Answer: (c)
Agricultural labourers are those who cultivate the land of others but own no (or very little) land of their own. Owner cultivators are those who own and cultivate their own land.
Landowners are those who own land but do not cultivate it themselves. So basically, a cultivator is an agricultural labourer who tills the land of others.
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Read more introduction Based Indian Economy Questions and Answers
Question : 1
Which of the following yields the largest revenue to the Government of India?
a) Excise duty
b) Sales tax
c) Income tax
d) Entertainment tax
Answer »Answer: (a)
Income Tax (corporate and non-corporate combined) contribute about 56 per cent of the tax revenue of India. But, income tax, apart from agricultural income is shared between the Union and states.
Among the given options, Excise duty is the chief and single largest source of revenue income. The Government of India earns maximum from Union Excise Duty
Question : 2
The Tarapore Committee recommended that before capital account was made convertible the rate of inflation should be brought down for three years to within :
a) 0.3%
b) 3.5%
c) 4.6%
d) 5.7%
Answer »Answer: (b)
The Tarapore Committee on capital account convertibility had laid down a three year, three-phase schedule for allowing convertibility.
It laid down three pre-conditions:
- fiscal consolidation implying that the centre’s fiscal deficit should come down to 3.5 per cent of GDP;
- a mandated inflation target; and
- strengthening of the financial system to
- involve a near-complete clampdown on activities of weak banks,
- major cut in the CRR, and
- complete deregulation of interest rates.
Question : 3
Which of the following gives a correct picture of the share of various sectors in economic growth in India over the years?
- Primary sector-stagnant
- Secondary sector-increasing
- Tertiary sector-decreasing
a) 2 and 3
b) 2 only
c) 1 and 2
d) 1 only
Answer »Answer: (b)
Question : 4
The Planning Commission of India was constituted in the year
a) 1947
b) 1942
c) 1950
d) 1955
Answer »Answer: (c)
The Planning Commission is an institution in the Government of India, which formulates India’s five-year Plans, among other functions.
It was set up on 15 March 1950, with Prime Minister Jawaharlal Nehru as the chairman. Planning Commission though is a non-statutory as well extra-constitutional body, i.e. has been brought by executive order.
The Planning Commission does not derive its creation from either the Constitution or statute but is an arm of the Central/Union Government.
Question : 5
The latest volume of foodgrains to be given per family as determined under ‘Annapurna Scheme’ is —
a) 20 kg
b) 35 kg
c) 10 kg
d) 40 kg
Answer »Answer: (c)
When the Annapurna Scheme was launched in April 2000, the beneficiaries were to be given 10 Kg. of food grains per month free of cost. It aims at providing food security to meet the requirement of those Senior Citizens who through eligible have remained uncovered under the National Old Age Pension Scheme (NOAPS).
Question : 6
Which of the following is not correctly matched?
a) Chanda Kochar – ICICI Bank
b) Naina Lal Kidwai – HSBC
c) Chitra Ramkrishna – National Stock Exchange
d) Shikha Sharma – SBI
Answer »Answer: (d)
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
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introduction to indian economy section 10
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introduction to indian economy section 12
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introduction to indian economy section 14
Introduction to Indian Economy Shortcuts and Techniques with Examples
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