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The following question based on Introduction to Indian Economy topic of indian economy mcq
(a) Some financial choice are taken by authorities and different are left to market forces
(b) Government has full handle over the exclusive sector
(c) All financial determinations are taken based mostly on the demand and provide forces
(d) Economic judgements are taken after maintaining in view the social welfare
The correct answers to the above question in:
Answer: (c)
Market-based mostly economic climate refers back to the financial system the place all financial judgements are taken based mostly on the demand and provide circumstances prevailing out there.
Government has minimal interference in financial actions. Private gamers are free to supply the items and expertise based mostly on the demand and provides alerts out there.
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Read more introduction Based Indian Economy Questions and Answers
Question : 1
Who advocated the adoption of ‘PURA’ mbdel to eradicate rural poverty ?
a) Maulana Abul Kalam Azad
b) M.S. Swaminathan
c) Dr. A.P.J. Abdul Kalam
d) A.M.Khusro
Answer »Answer: (c)
Providing Urban Amenities to Rural Areas (PURA ) is a strategy for rural development. The concept was given by former President Dr. APJ Abdul Kalam.
Question : 2
Which of the following functions as a controller of credit in India ?
a) The Reserve Bank of India
b) The Central Government
c) The State Bank of India
d) The Planning Commission
Answer »Answer: (a)
Credit Control is an important tool used by the Reserve Bank of India, a major weapon of the monetary policy used to control the demand and supply of money (liquidity) in the economy. Central Bank administers control over the credit that the commercial banks grant.
Such a method is used by RBI to bring “Economic Development with Stability”. It means that banks will not only control inflationary trends in the economy but also boost economic growth which would ultimately lead to an increase in real national income with stability.
Question : 3
Which one among the following countries has the lowest GDP per capita?
a) Indonesia
b) China
c) India
d) Sri Lanka
Answer »Answer: (c)
India, among the countries has the lowest GDP per capita. GDP per capita is as follows- India 1489 USD,China 6091USD, Sri Lanka 2923 USD, Indonesia 3556 USD.
Question : 4
The new Agricultural Strategy in India was introduced in
a) 1966
b) 1956
c) 1976
d) 1986
Answer »Answer: (a)
In India, a new agricultural strategy was initiated in 1966-67. This initiative heralded the introduction of High Yield Variety of wheat to tackle food security and led to the Green Revolution in India.
Question : 5
Which organisation collects data for the unorganised sector ?
a) RBI
b) CSO
c) ASI
d) NSSO
Answer »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.
Question : 6
Social accounting system in India is classified into
a) Enterprise, households and government
b) Income, product and expenditure
c) Assets, liabilities and debt position
d) Public sector, Private sector and Joint sector
Answer »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.
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