introduction to indian economy section 13 MCQ Questions & Answers Detailed Explanation
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The following question based on Introduction to Indian Economy topic of indian economy mcq
(a) Punjab
(b) Himachal Pradesh
(c) Gujarat
(d) Goa
The correct answers to the above question in:
Answer: (d)
Generally, per capita income is the indicator of the progress of any country. According to World Development Report 2009, the per capita income of India was $950. Goa has the highest per capita income in India.
Goa leads the country with a per capita income of Rs.1,92,652. Delhi comes in second after Goa with PCI of Rs.1,75,812 followed by Chandigarh (1,28,634 – 2011) & Haryana (1,09,227).
Note: According to recent data given by the Ministry of Statistics and Programme Implementation, Goa has the highest NSDP per capita among 33 Indian states and union territories.
NSDP per capita of Goa is estimated at 224,138 Indian rupees in 2013-14 at current prices. The ranking of Delhi is two with a per capita income of around 212,219 INR. Sikkim is third, Chandigarh is fourth and Puducherry is the fifth richest economy of India.
Bihar, Uttar Pradesh, Manipur, Assam, and Jharkhand is top 5 poorest state in terms of NSDP per capita. These five states have net state domestic product per capita below Rs.50,000.
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Question : 1
Who was the first Indian governor of the Reserve Bank of India?
a) Sachindra Roy
b) C.D. Deshmukh
c) S Mukherjee
d) None of these
Answer »Answer: (b)
C.D. Deshmukh was the first Indian to be appointed as the Governor of the Reserve Bank of Indian in 1943.
He subsequently served as the Finance Minister in the Union Cabinet (1950–1956). He was a civil servant by profession.
Question : 2
Consider the following statement
- The immediate objective is to address the unmet needs for contraception, health care infrastructure and basic reproductive and child health care.
- The medium-term objective is to bring the Total Fertility Rate (TFR) to replacement levels of 2.1 by 2010.
- The long-term objective is to achieve a stable population by 2045, at a level consistent with the requirement of sustainable economic growth, social development and environmental protection.
a) 2 only
b) 3 only
c) 1 only
d) 1, 2 and 3
Answer »Answer: (d)
The Government of India in February 2000, announced the National Population Policy (NPP) with the objectives,
- The immediate objective is to address the unmet needs for contraception, health care infrastructure and basic reproductive and child health care.
- The medium-term objective is to bring the Total Fertility Rate (TFR) to replacement levels of 2.1 by 2010.
- The long-term objective is to achieve a stable population by 2045, at a level consistent with the requirement of sustainable economic growth, social development and environmental protection.
Question : 3
Consider the following statements in regard to reserve currency:
- Reserve currency acts as the international pricing currency in the global market for commodities like oil and gold.
- The country whose local currency is accepted as reserve currency gets an added advantage in terms of lower commodity rates in the international market.
a) 1and 2 both
b) 2 only
c) 1 only
d) None
Answer »Answer: (a)
A reserve currency (or anchor currency) is a currency that is held in significant quantities by governments and institutions as part of their foreign exchange reserves, and that is commonly used in international transactions for commodities, like oil and gold.
Persons who live in a country that issues a reserve currency can purchase imports and borrow across borders more cheaply than persons in other nations because they need not exchange their currency to do so.
Question : 4
Which of the following terms is not a financial term?
a) Core banking solution
b) All the above
c) RTGS
d) Investment
Answer »Answer: (b)
All the above given terms are not a financial term. RTGS (Real Time Gross Settlement) is fund transfer system, core banking solutions like treasury and investment are all processes not financial term.
Question : 5
The philosophy of ‘Laissez-Faire’ is associated with
a) Industrial state
b) Welfare state
c) Socialist state
d) Gandhian state
Answer »Answer: (a)
The philosophy of ‘Laissez-Faire’ is associated with industrial state.
Question : 6
Which one of the following is not a feature of India’s economic planning?
a) limited centralisation
b) indicative planning
c) democratic socialism
d) imperative planning
Answer »Answer: (d)
Imperative planning is not a feature of the economic planning of India. In case of imperative planning economic activities belong to the public sector.
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