introduction to indian economy section 6 Practice Questions Answers Test with Solutions & More Shortcuts
Introduction to Indian Economy PRACTICE TEST [14 - EXERCISES]
introduction to indian economy section 1
introduction to indian economy section 2
introduction to indian economy section 3
introduction to indian economy section 4
introduction to indian economy section 5
introduction to indian economy section 6
introduction to indian economy section 7
introduction to indian economy section 8
introduction to indian economy section 9
introduction to indian economy section 10
introduction to indian economy section 11
introduction to indian economy section 12
introduction to indian economy section 13
introduction to indian economy section 14
Question : 16
What is the approximate share of SSIs in gross industrial value added in the Indian economy?
a) 30%
b) 40%
c) 5%
d) 25%
Answer »Answer: (b)
The small-scale industries sector plays a vital role in the growth of the country. It contributes almost 40% of the gross industrial value added in the Indian economy.
Question : 17 [SSC CHSL 2014]
India switched over to the decimal currency system in
a) 1956
b) 1955
c) 1957
d) 1958
Answer »Answer: (c)
India changed from the rupee, anna, pie system to decimal currency on 1 April 1957. To distinguish between the two, the coins minted between 1957 and 1964 have the legend “Naya Paisa” (“new” paisa).
Question : 18 [SSC CML 2002]
The largest source of revenue to the Union Government is
a) Central Excise Duty
b) Income Tax
c) Customs Duty
d) Wealth Tax
Answer »Answer: (a)
Income Tax (corporate and non-corporate combined) contribute about 56 per cent of tax revenue of India. But, income tax, apart from agricultural income is shared between the Union and states. Among the given options, Excise duty is the chief and single largest source of revenue income.
Question : 19 [SSC MTS 2014]
Imperial Bank was constituted in the year :
a) 1935
b) 1930
c) 1955
d) 1921
Answer »Answer: (d)
The Imperial Bank of India came into existence on 27 January 1921. It was the oldest and the largest commercial bank of the Indian subcontinent, and was subsequently transformed into State Bank of India in 1955.
Question : 20
National Income is the
a) NNP at factor cost
b) Net Domestic product at market price
c) NNP at market price
d) Net domestic product at factor cost.
Answer »Answer: (d)
National Income is the Net National Product at the factor cost.
(NI = NNP at factor cost = NNP at market price – Indirect taxes + subsidies)
IMPORTANT indian economy mcq EXERCISES
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Top 500+ Basic Indian Economy GK MCQ Quiz For SSC IBPS »
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New Indian Economy GK MCQ Quiz PDF For UPSC/IAS Prelims »
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Basic Indian Economy Concepts MCQs Quiz For RRB NTPC Exam »
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New 499+ Fundamentals of Indian Economy MCQ Quiz For IBPS »
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555+ Indian Economy Concepts Basics Fundamentals MCQ Quiz »
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Top 500+ Indian Economy GK MCQs Quiz PDF For SSC UPSC RRB »
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New 499+ Indian Economy GK Question And Answers Quiz PDF »
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Best 500+ Indian Economy General Knowledge MCQ Quiz PDF »
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500+ Indian Economy General Studies Online MCQ Quiz PDF »
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New 500+ Indian Economy Basic Static GK MCQ Quiz For IBPS »
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500+ Introduction to Indian Economy GK MCQ Quiz For SSC »
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800+ Latest Indian Economy GK Questions & Answers MCQ PDF »
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1000+ Indian Economy GK Questions And Answers Quiz PDF »
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1000+ Indian Economy Basic Concepts GK MCQ PDF For SBI PO »
Introduction to Indian Economy Shortcuts »
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indian economy MCQ CATEGORIES
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» Introduction to Indian Economy
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» Planning, Economic Development & Five year Plans
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» National Income & Human Development Index
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» Agriculture Sector, Subsidy and Food Processing
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» Industries, Manufacturing & Service Sectors
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» Inclusive growth, Sustainable development and employment
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» Poverty & Unemployment
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» Introduction to Micro Economics
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» Introduction to Macro Economics
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» Macro fundamentals, GDP, Investment, Growth
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» Demand & Supply, Profit Loss, Inflation & Price Index
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» Fiscal Policy, Public Finance and Monetary Policy
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» Money Supply, Banking and Financial Institutions
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» Taxes Types, Methods & Budgeting Process
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» Banking, Security Market & Insurance
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