introduction to indian economy section 7 MCQ Questions & Answers Detailed Explanation

Answer: (a)

The responsibility for coinage lies with central government on the basis of the Coinage Act, 1906. The designing and minting of coins in various denominations is decided by Central government.

Answer: (b)

Social accounting is a method by which a firm seeks to place a value on the impact on society of its operations. It is a systematic analysis of the effects of the organisation on its shareholders, with stakeholder input as part of the data that are analysed for the accounting statement.

One social accounting system primarily attempts to measure National Income, final product, consumption and accumulation of capital.

Answer: (d)

The National Sample Survey Office(NSSO) in India is a unique setup to carry out surveys on socioeconomic, demographic, agricultural and industrial subjects for collecting data from households and from enterprises located in villages and in the towns.

The unregistered manufacturing sub-sector, a complement set to the registered manufacturing sub-sector, covers all the residual units which are not covered under the registered manufacturing sector.

Thus, the unregistered manufacturing sector covers all the manufacturing, processing, repair & maintenance services units employing less than 10 workers and using power or less than 20 workers and not using power. The data on the unorganised sector is collected through periodic surveys by the NSSO.

Answer: (a)

The logo of the Reserve Bank of India comprises a tiger walking underneath a palm tree. When RBI was created, it was decided that the reverse of Double Mohur, the Lion and Palm design should be used as the emblem of RBI. The last minute modification was made introducing Tiger instead of Lion

Answer: (a)

Answer: (c)

The Government launched Kutir Jyoti Programme on the occasion of Nehru Centenary Year (1988-89) for extending single point light connection to the households of rural poor families below the poverty line.

These were to include Harijan and tribal families. The programme had come under criticism for rampant increase in transmission & distribution (T&D) losses.