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The following question based on Introduction to Indian Economy topic of indian economy mcq
(a) NITI Aayog
(b) Reserve Bank of India
(c) Ministry of Finance
(d) Ministry of Commerce
The correct answers to the above question in:
Answer: (c)
The Economic Survey of India is a flagship annual document of the Ministry of Finance, Government of India.
It reviews the developments in the Indian economy over the previous 12 months, summarizes the performance of major development programs, and highlights the policy initiatives of the government and the prospects of the economy.
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Question : 1
Prime Minister’s ‘Ujjwala Yojana’ is related to
a) Free electric connections to members of Scheduled Castes and Scheduled Tribes.
b) Free distribution of LPG connections to socially backward classes.
c) Mass immunisation campaign for children.
d) None of the these
Answer »Answer: (b)
Pradhan Mantri Ujjwala Yojana is an ambitious social welfare scheme of the Narendra Modi Government launched on 1 May 2016 from Ballia in Uttar Pradesh.
The scheme aims to provide LPG connections to BPL households in the country and, thus, replace the unclean cooking fuels mostly used in rural India with the clean and more efficient LPG (Liquefied Petroleum Gas).
Question : 2
The fringe benefit tax was introduced in the budget of
a) 2004-05
b) 2003-04
c) 2005-06
d) 2006-07
Answer »Answer: (c)
The fringe benefits tax (FBT) was introduced in India in the year 2005-2006. Fringe Benefits Tax (FBT) is fundamentally a tax that an employer has to pay in lieu of the benefits that are given to his/her employees. It was an attempt to comprehensively levy tax on those benefits, which evaded the taxman.
The list of benefits encompassed a wide range of privileges, services, facilities or amenities which were directly or indirectly given by an employer to current or former employees, be it something simple like telephone reimbursements, free or concessional tickets or even contributions by the employer to a superannuation fund.
FBT was introduced as a part of the Finance Bill of 2005 and was set at 30% of the cost of the benefits given by the company, apart from the surcharge and education cess that also needed to be paid.
Question : 3
Consider the following statement related to population
- An effective employment policy, which can absorb the growing number of workers and promote economic growth.
- An imaginative family planning programme to encourage families to adopt the small family norm.
a) 2 only
b) 1 and 2
c) 1 only
d) Neither 1 nor 2
Answer »Answer: (d)
The problem of over population can be solved by two ways
An effective employment policy, which can absorb the growing number of workers and promote economic growth.
An imaginative family planning programme to encourage families to adopt the small family norm.
Question : 4
Which of the following is definitely a major indication of the state of the economy of a country?
a) Number of Banks in a country
b) Rate of GDP growth
c) Rate of inflation
d) None of these
Answer »Answer: (b)
The rate of GDP growth is a major indication of the state of the economy of a country. Economic growth is the increase in the market value of the goods and services produced by an economy over time. It is conventionally measured as the per cent rate of increase in gross domestic product.
Gross domestic product (GDP) is the market value of all officially recognized final goods and services produced within a country in a year, or another given period of time.
Question : 5
Which Bank was merged in the Punjab National Bank in February, 2003 ?
a) Nainital Bank Ltd.
b) Catholic Syrian Bank Ltd.
c) Nedungadi Bank Ltd.
d) Madurai Bank Ltd.
Answer »Answer: (c)
In February 2003, the Punjab National Bank took over Nedungadi Bank, the oldest private sector bank in Kerala. At the time of the merger with PNB, Nedungadi Bank’s shares had zero value, with the result that its shareholders received no payment for their shares.
It was the first private sector commercial bank to be set up in South India. The bank was incorporated in 1913 and in 1965 it took over selected assets and liabilities of the Coimbatore National Bank Ltd.
NOTE: On 15 February 2017, the Union Cabinet approved the merger of 5 associate banks with SBI.
Finally, the five associate banks, along with Bharatiya Mahila Bank, merged with SBI on 31 March 2017. With effect from April 1, 2017; all the branches of Associates Banks viz State Bank of Patiala, State Bank of Hyderabad, State Bank of Bikaner & Jaipur, State Bank of Mysore and State Bank of Travancore, will function as branches of STATE BANK OF INDIA (SBI).
On 7 October 2014, Arundhati Bhattacharya became the first woman to be appointed Chairman of the bank. She is serving as present chairman of SBI.
Question : 6
Government of India has decided to integrate____with recently launched Pradhan Mantri Krishi Sinchayee Yojana.
a) National Rural Livelihood Mission
b) Mahatma Gandhi National Rural Employment Guarantee Act
c) Haryali
d) Accelerated Irrigation Benefit Programme
Answer »Answer: (b)
Pradhan Mantri Krishi Seenchayi Yojana will converge with rural development schemes like the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) and other schemes of the agriculture ministry and land resources department.
This will help in creating more irrigation assets.
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introduction to indian economy section 12
introduction to indian economy section 13
introduction to indian economy section 14
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