introduction to indian economy section 10 MCQ Questions & Answers Detailed Explanation
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The following question based on Introduction to Indian Economy topic of indian economy mcq
(a) J.L. Nehru
(b) Lala Lajpat Rai
(c) Mahatma Gandhi
(d) Dadabhai Naoroji
The correct answers to the above question in:
Answer: (d)
Dadabhai, known as the Grand Old Man, wrote the book ‘Poverty and Un-British Rule in India’ describing the theory of economic drain of India during British rule.
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Read more introduction Based Indian Economy Questions and Answers
Question : 1
Which of following statement is true about the Primary deficit?
a) It is difference between Capital Receipts and Interest Payment
b) It is addition of Fiscal Deficit and Interest Payment
c) It is difference between the Fiscal Deficit and Interest Payment
d) It is difference between Revenue Receipts and Revenue Expenditure
Answer »Answer: (c)
Question : 2
NABARD is the name of a
a) Financial Institution
b) Commercial bank
c) Specialised bank to help agriculture
d) Non-Banking Financial Institution
Answer »Answer: (c)
The National Bank for Agriculture and Rural Development (NABARD) was established on 12 July 1982 by a special act by the parliament and its main focus was to uplift rural India by increasing the credit flow for elevation of agriculture & rural non-farm sector.
It has been accredited with "matters concerning policy, planning and operations in the field of credit for agriculture and other economic activities in rural areas in India.”
Question : 3
The receipts of which of the following taxes/duties are not shared with the States ?
a) Corporation tax
b) Tax on income except agriculture
c) Surcharge on income tax
d) Capital gain tax
Answer »Answer: (b)
The shareable central taxes include corporation tax, income tax, wealth tax, customs, excise duty and service tax. The taxes, which are not shared with states include some cesses like education and road.
Income Tax in India includes all income except the agricultural income that is levied and collected by the central government (List I, Entry 82).
Question : 4
Consider the following statements in regard to ‘Inflation Index bonds’?
- Investment in these bonds is more risky as these bonds increase the inflation risk attached to the investment.
- It is better financial instrument compared to gold to hedge the risk rising out of volatile economy.
a) 2 only
b) Both 1 and 2
c) 1 only
d) Neither 1 nor 2
Answer »Answer: (d)
Inflation-indexed bonds are bonds where the principal is indexed to inflation. They are thus designed to cut out the inflation risk of an investment.
These bonds thus decrease the inflation risk attached to the investment. Moreover, these bonds are a better hedge than gold in a volatile economy as gold does.
Question : 5
Commercial banks lend to which of the following Priority sectors ?
a) Agriculture, Small scale industries
b) Heavy Industries
c) Foreign Companies
d) State Government in emergency situation
Answer »Answer: (a)
Priority sector lending is an important role given by the Reserve Bank of India (RBI) to the banks for providing a specified portion of the bank lending to few specific sectors like agriculture and allied activities, micro and small enterprises, and weaker sections.
It aims to ensure that adequate institutional credit flows into some of the vulnerable sectors of the economy, which may not be attractive for the banks from the point of view of profitability.
Question : 6
Plan Holiday was declared after
a) The Second Five Year Plan
b) The First Five Year Plan
c) The Third Five Year Plan
d) The Fourth Five Year Plart
Answer »Answer: (c)
Plan Holiday refers to three annual plans implemented during 1966-69 after the end of the Third Five Year Plan (1961-66).
During these plans, a whole new agricultural strategy involving the widespread distribution of High–Yielding Varieties (HYVs) of seeds, the extensive use of fertilizers, exploitation of irrigation potential and soil conservation was put into action to tide – over the crisis in agricultural production.
GET Introduction to Indian Economy PRACTICE TEST EXERCISES
introduction to indian economy section 1
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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
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