introduction to indian economy section 12 Practice Questions Answers Test with Solutions & More Shortcuts

Answer: (a)

Mumbai-based Marathon Realty has unveiled a Rs 900-crore plan for an information technology Special Economic Zone (SEZ), named Next zone, at Panvel near Mumbai. The investment, to be made in three phases over six years, will include the cost of land and construction and infrastructure development.

Work begins from September 2008, and the project will be funded through a mix of debt and equity in a 2:1 ratio. The proposed SEZ with the road, rail and maybe even air connectivity will provide IT companies with a cheaper option to set up development centres near Mumbai.

A Special Purpose Vehicle (SPV) of Marathon Realty will implement the SEZ project.

Answer: (b)

Union Ministry of Health and Family Welfare launched Mission Indradhanush on 25 December 2014 with the aim of expanding immunization coverage to all children across India by the year 2020.

It aims to immunize all children against seven vaccine-preventable diseases namely Diphtheria, Pertussis, Tetanus, Childhood Tuberculosis, Polio, Hepatitis B and Measles.

Answer: (b)

Due to decrease in oil process and demand for gold, the trade deficit in December 2014 narrowed down to 9.43 billion US dollar.

Answer: (d)

The Reserve Bank of India has the sole right or authority or monopoly of issuing currency notes except one rupee note and coins of a smaller denomination. These currency notes are legal tender issued by the RBI. Currently it is in denominations of Rs. 2, 5, 10, 20, 50, 100, 500, and 1,000.

The RBI has powers not only to issue and withdraw but even to exchange these currency notes for other denominations. It issues these notes against the security of gold bullion, foreign securities, rupee coins, exchange bills and promissory notes and government of India bonds.

Answer: (a)

National income measures the monetary value of the flow of output of goods and services produced in an economy over a period of time.

National Income is the total economic activity (production of finished goods and services calculated in monetary value) within the economic territory of a country by its residents during the year of accounting.

In other words, the National Income of a country is the Net National Product at factor cost.