macro fundamentals, GDP, investment & growth section 2 MCQ Questions & Answers Detailed Explanation

Question : 1

Concept of ‘Joint Sector’ for industrial development of India was envisaged in Industrial Policy Resolution of

a) 1956

b) 1948

c) 1991

d) 1980

Answer »

Question : 2

Shanta Kumar Committee has submitted its report on restructuring of Food Corporation of India (FCI) to Mr. Modi. Read the following recommendations and find the incorrect ones.

1. FCI procurement should focus on the western belt, where farmers get the minimum support price.
2. FCI should hand over the procurement of wheat and rice to four states which include Punjab, Haryana, Andhra Pradesh and Chattisgarh.
3. Proposed uniform tax of minimum 3% and maximum 4% on wheat and rice and the same to be included in the minimum support price.

a) Only 1 and 3

b) Only 1 and 2

c) None of the above

d) Only 2 and 3

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Question : 3

The term ‘Evergreen Revolution’ has been used for increasing agricultural production in India by

a) M.S. Swaminathan

b) Norman Borlaug

c) R.K.V. Rao

d) Raj Krishna

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Question : 4

Following are the statements associated with RAJFED. Choose the correct answer from the codes given below.

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Statement A:
RAJFED is working in the state to make available HYV seeds, fertilizers and pesticides to farmers at fair prices.
Statement B:
RAJFED is working in the state to ensure fair prices to farmers for their crops.
Statement C:
RAJFED is working in the state as an apex development bank for agriculture.

a) A and B are correct

b) All statements are correct

c) Only A is correct

d) A and C are correct

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Question : 5

Consider the following statements:

1. Imported capital equipment are part of investment in the Indian economy
2. Imported capital equipment are part of India’s GDP

Select the correct answer using the code given below:

a) Both (i) & (ii)

b) (ii) only

c) (i) only

d) Neither (i) nor (ii)

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Question : 6

White revolution is related to

a) Milk production

b) Egg production

c) Fish production

d) Wheat production

Answer »