introduction to indian economy section 7 MCQ Questions & Answers Detailed Explanation
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The following question based on Introduction to Indian Economy topic of indian economy mcq
(a) Sahayata
(b) Sahyog
(c) Sampark
(d) Sachet
The correct answers to the above question in:
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.
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Read more introduction Based Indian Economy Questions and Answers
Question : 1
Consider the following statement in regards to Unbalanced Economic Development,
- India has not yet achieved the goal of balanced economic development.
- Balanced Growth mentions to a definite type of economic growth that is maintainable in the long term.
- Balanced growth is contrasting to the high and low nature of economic cycles.
a) 2 only
b) 3 only
c) 1 only
d) 1, 2 and 3
Answer »Answer: (d)
India has not yet achieved the goal of balanced economic development. Balanced Growth mentions to a definite type of economic growth that is maintainable in the long term. Balanced growth is contrasting to the high and low nature of economic cycles.
According to the latest data available about 64% of the total labour force is dependent on agriculture, 16% on industries and the rest about 20% on trade, transport and other services.
Question : 2
One of the problems in calculating the national income in India correctly is
a) inflation
b) low savings
c) non-monetised consumption
d) under-employment
Answer »Answer: (c)
Question : 3
The Swarna Jayanti Shahari Rojgar Yojna (SJSRY) mainly aims at creating employment opportunities for
a) self employment in urban areas only
b) both self employment and wage employment in urban areas
c) wage employment in urban areas only
d) None of these
Answer »Answer: (b)
The Swarna Jayanti Shahari Rozgar Yojana (SJSRY) seeks to provide gainful employment to the urban unemployed or underemployed through the setting up of self-employment ventures or provision of wage employment.
It is a Centrally Sponsored Scheme which came into effect on 1 December 1997.
Question : 4
Consider the following statements in regard to ‘RESIDEX’:
- The index is prepared to track the prices of residential properties in India on the basis of actual transaction prices.
- The index is prepared from the secondary data available from various sources like housing, finance companies and banks.
a) 2 only
b) Both 1 and 2
c) 1 only
d) Neither 1 nor 2
Answer »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.
Question : 5
The Indian Economy is characterised by
a) massive unemployment
b) pre-dominance of agriculture
c) low per capita income
d) all of the above
Answer »Answer: (d)
Question : 6
The Indian economy can be most appropriately described as a :
a) Socialist economy
b) Capitalist economy
c) Traditional economy
d) Mixed economy
Answer »Answer: (d)
There are primarily two types of economies capitalist or free-market economy and socialist economy. A mixed economy is a median between these two main economies taking some characteristics of either of them. We have adopted a mixed economy in India.
All the basic industries such as railways, post and telegraph, defence production, atomic energy etc. are in the public sector. Industries dealing with consumer goods are in the private sector. India has a pubic private partnership economy.
GET Introduction to Indian Economy PRACTICE TEST EXERCISES
introduction to indian economy section 1
introduction to indian economy section 2
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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 12
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introduction to indian economy section 14
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