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

Answer: (d)

Answer: (b)

At present, the index is being developed only for the residential housing sector.

However, at a later stage, the index could be expanded to develop separate indices for commercial property and land. Primary data on housing prices is being collected from real estate agents by commissioning the services of private consultancy/research organisations of national repute.

In addition, data on housing prices is also being collected from the housing finance companies and banks, which is based on housing loans contracted by these institutions.

Answer: (d)

The Reserve Bank of India (RBI), in August 2016, launched the Sachet portal to curb the illegal collection of money by companies.

This website will enable the public to obtain information regarding entities who accept deposits, lodge complaints and also share information regarding illegal acceptance of deposits.

Answer: (c)

Central Statistical Organisation (CSO), prepares the estimates of national income in India. The first official estimates of the national income, prepared by the CSO at constant prices with base year 1948- 49, as well as at current prices, were brought out in 1956.

Answer: (c)

In the largest ever change in the percentage of devolution, the 14thFinance Commission (FFC) recommended that the States’ share in the net proceeds of the Union tax revenues by 42%.

The recommendation of tax devolution at 42% is a huge jump from the 32% recommended by the 13thFinance Commission.

Answer: (c)

Devaluation is a deliberate downward adjustment to the value of a country’s currency, relative to another currency, group of currencies.

Since it is relative to other currencies so the internal price remains unchanged. It causes a country’s exports to become less expensive and imports more expensive.