introduction to indian economy section 6 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
(a) Third Plan
(b) Second Plan
(c) Fourth Plan
(d) Fifth Plan
The correct answers to the above question in:
Answer: (d)
In the Fifth Five-Year Plan (1974–1979), stress was by laid on employment, poverty alleviation, and justice. The plan also focused on self-reliance in agricultural production and defence.
For achieving economic self-reliance, the Plan aimed at elimination of special forms of external assistance, particularly food and fertilizer imports.
Discuss Form
Read more introduction Based Indian Economy Questions and Answers
Question : 1
When development in economy takes place, the share of tertiary sector in national income
a) first rises and then falls
b) remains constant
c) keeps on increasing
d) first falls and then rises
Answer »Answer: (c)
When development in the economy takes place, the share of the tertiary sector in national income keeps on increasing because the tertiary sector is involved in services within and outside the country.
With development the disposable income of individuals income results in the growth of banking, trading, communication etc., both domestically and internationally.
Question : 2
Who among the following had propounded the concept of ‘Trusteeship’?
a) Aurobindo Ghosh
b) Mahatma Gandhi
c) M.N. Roy
d) G.K. Gokhale
Answer »Answer: (b)
Question : 3
Deficit financing leads to inflation in general, but it can be checked if:
a) only aggregate demand is increased
b) all the expenditure is denoted national debt payment only
c) government expenditure leads to increase in the aggregate supply in ratio of aggregate demand
d) All of the above
Answer »Answer: (d)
The definition of deficit financing is likely to vary with the purpose for which such a definition is needed.
In one sense by deficit financing we mean the excess of government expenditure over its normal receipts raised by taxes, fees, and other sources. In this definition such expenditure whether obtained through borrowing or from the banking system measures the budget deficit. Deficit financing is said to have been used whenever government expenditure exceeds its receipts. In under-developed countries deficit financing may be in two forms:
- Difference between overall revenue receipts and expenditure
- Deficit financing may be equal to borrowing from the banking system of the country.
Question : 4
In estimating the budgetary deficit, the official approach in India is to exclude
a) borrowings from the Reserve Bank of India
b) long term borrowing from the market
c) drawing down of the cash balance
d) borrowing from Reserve Bank in the form of ways and means advance
Answer »Answer: (c)
When the government expenditure exceeds revenues, the government is having a budget deficit. Thus the budget deficit is the excess of government expenditures over government receipts (income).
When the government is running a deficit, it is spending more than its receipts. Budgetary Deficit is the difference between all receipts and expenditures of the government, both revenue and capital.
This difference is met by the net addition of the treasury bills issued by the RBI and the drawing down of cash balances kept with the RBI. So when it is estimated, drawing down of cash balances is excluded.
Question : 5
Commercial banking system in India is
a) unit banking
b) mixed banking
c) branch banking
d) None of these
Answer »Answer: (c)
Branch banking implies engaging in banking activities such as accepting deposits or making loans at facilities away from a bank's home office. It means a system of banking in which a banking organization works in more than one place. The main place of business is called head office and other places of business are called branches.
The head office controls and coordinates the work at branches. This system of banking is prevalent throughout the world. In India also, all the major banks have been operating under a branch banking system.
Question : 6
Which State has the lowest per capita income in India ?
a) Orissa
b) Bihar
c) Rajasthan
d) Gujarat
Answer »Answer: (b)
According to the latest figures released by Government –
Goa leads the country with a per capita income of Rs.1,92,652/-,
while Bihar has the lowest with a per capita income of only Rs.24,681/-.
An average Goan earns 6 times more than an average Bihari.
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 »