introduction to indian economy section 10 MCQ Questions & Answers Detailed Explanation

Question : 1

In India, inflation is measured by the :

a) consumers price Index for urban non-manual workers.

b) consumers price Index for agricultural

c) wholesale price Index Number

d) National Income Deflation

Question : 2

Distribution of food rains operates under a two tier system with the introduction of

a) The Service Cooperatives

b) The Consumers Cooperatives

c) The Cooperative Marketing Societies

d) Targetted Public Distribution System

Question : 3

The Ministry of Corporate Affairs has notified the Corporate Social Responsibility (CSR) rules and they would come into effect from April 1. Under the new laws that govern companies, spending on CSR or social welfare activities is mandatory for certain classes of firms. They are required to shell out at least 2 per cent of their three-year average annual profit towards such works. Which of the following firms classify under the new law to make CSR spend?

1. Companies having a net worth of at least Rs. 750 crore
2. Companies having a minimum turnover of Rs. 500 crore
3. Companies with at least a net profit of RS. 5 crore

a) (i), (ii) & (iii)

b) Only (iii)

c) (i) & (ii)

d) (i) & (iii)

Question : 4

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

Question : 5

NABARD is the name of a

a) Financial Institution

b) Commercial bank

c) Specialised bank to help agriculture

d) Non-Banking Financial Institution

Question : 6

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