introduction to indian economy section 8 MCQ Questions & Answers Detailed Explanation
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The following question based on Introduction to Indian Economy topic of indian economy mcq
(a) 1976
(b) 1971
(c) 1972
(d) 1970
The correct answers to the above question in:
Answer: (c)
The Coal Conservation and Development Act, 1974 provides for imposition of excise duty on coal despatches for meeting activities like conservation of coal, development of coal mines execution of stowing and other operations for the safety in coal mines and research work connected with conservation and utilisation of coal, and assistance in mining operation. The Coking Coal (Nationalisation) Act was enacted in 1972.
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Read more introduction Based Indian Economy Questions and Answers
Question : 1
One of the main factors that led to rapid expansion of Indian exports is
a) Diversification of exports
b) Liberalisation of the economy
c) Recession in other countries
d) Imposition of import duties
Answer »Answer: (a)
India has rapidly diversified its exports markets from the traditional export partners towards emerging and developing economies. This has played a crucial role in cushioning India’s exports growth during recent years, which has remained fairly steady despite the global economic slowdown.
The rapid diversification of India’s export destinations is encouraging. The widely spreading export markets can be noted from the narrowing dependence on selected economies for exports.
Question : 2
Compared to the rich the poor save
a) All of their incomes
b) An equal part of their income
c) A smaller part of their income
d) A larger part of their income
Answer »Answer: (c)
A “subsistence” or necessary level of consumption produces differences in consumption growth rates across income levels. This implies that poor households have lower saving rates because they cannot “afford to save” after buying the necessities.
The institutional and behavioural mechanism also leads to low levels of saving among the poor.
Question : 3
Human Development Index comprises literacy rates, life expectancy at birth and
- GDP per head in the US dollars.
- GDP per head at real purchasing power.
- GNP in US dollars
- National Income per head in US dollars.
a) 2 only
b) 3 only
c) 1 only
d) 4 only
Answer »Answer: (d)
Human Development Report the HDI combines three dimensions:
- A long and healthy life: Life expectancy at birth,
- Education Index: Mean years of schooling and Expected years of schooling and
- A decent standard of living: GNI per capita (PPP US$).
Question : 4
According to 2011 census urban-rural population ratio was about-
a) 28 : 72
b) 35 : 65
c) 32 : 68
d) 31 : 69
Answer »Answer: (d)
Question : 5
Which of the following governmental steps has proved relatively effective in controlling the double digit rate of inflation in the Indian economy during recent years?
a) Streamlined public distribution system
b) Pursuing an export-oriented strategy
c) Enhanced rate of production of all consumer goods
d) Containingbudgetarydeficitsandunproductive expenditure
Answer »Answer: (d)
Question : 6
Which of the following sets belong to Central tax ?
a) Excise duty, Customs duty and Income tax
b) Excise duty, Sales tax and Customs duty
c) Income tax, Customs duty and House tax
d) Customs duty, Entertainment tax and Income tax
Answer »Answer: (a)
Some of the taxes of the central government are:
- Taxes on income other than agricultural income;
- Duties of customs including export duties;
- Duties of excise on tobacco and other goods manufactured or produced in India except for
- alcoholic liquor for human consumption, and
- opium, Indian hemp and other narcotic drugs and narcotics, but including medicinal and toilet preparations containing alcohol or any substance; Corporation Tax;
Taxes on the capital value of assets, exclusive of agricultural land, of individuals and companies, taxes on capital of companies; Estate duty in respect of property other than agricultural land; etc.
Central tax means taxes that are levied and collected by the central government.
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
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