introduction to indian economy section 6 Practice Questions Answers Test with Solutions & More Shortcuts
Introduction to Indian Economy PRACTICE TEST [14 - EXERCISES]
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Question : 21 [SSC CGL 2016]
‘Pradhan Mantri Jan-Dhan Yojana’ has been launched for :
a) Providing loans to poorest people in the country
b) Promoting financial inclusion in the country
c) Providing financial help to the marginalised community
d) Promoting women in backward areas
Answer »Answer: (b)
Pradhan Mantri Jan Dhan Yojana is India's national mission for financial inclusion to ensure access to financial services, namely banking savings & deposit accounts, remittance, credit, insurance, pension in an affordable manner.
This financial inclusion campaign was launched by the Prime Minister of India Narendra Modi on 28 August 2014.
Question : 22 [SSC SO 2003]
Which among the following Indian State does not transacts its business through Reserve Bank of India ?
a) Jammu and Kashmir
b) Sikkim
c) Arunachal Pradesh
d) Mizoram
Answer »Answer: (a)
State Government transactions are carried out by the Reserve Bank of India in terms of the agreement entered into with the State Governments in terms of section 21 A of the Act.
As of now, such agreements exist between RBI and all the State Governments except with the Government of Jammu and Kashmir.
Question : 23 [SSC IT 2004]
When did the Rupee become a freely convertible currency on current account, in India ?
a) 2001
b) 2000
c) 1994
d) 1999
Answer »Answer: (c)
A currency is deemed convertible on the current account if it can be freely converted into other convertible currencies for the purchase and sale of commodities and services.
For example, if the rupee is convertible on the current account an Indian firm should be able to freely convert the rupee into Yen (JPY) to purchase from a Japanese Company.
Since August 20, 1994, the rupee has been made a freely convertible currency on the current account.
Question : 24 [SSC CGL 2016]
National Income of India is compiled by
a) Indian Statistical Institute
b) Finance Commission
c) National Development Council
d) Central Statistical Organization
Answer »Answer: (d)
The National Income Unit of the Central Statistical Organisation (CSO) is responsible for the estimation of national income. It is responsible for the coordination of statistical activities in India, and evolving and maintaining statistical standards.
CSO’s other works include: conduct of the Annual Survey of Industries, Economic Censuses and its follow up surveys, a compilation of Consumer Price Indices for Urban Non-Manual Employees, etc.
Question : 25
Which sector of Indian economy has shown remarkable expansion during the last decade?
a) Secondary sector
b) Mining sector
c) Tertiary sector
d) Primary sector
Answer »Answer: (c)
During the last decade, the tertiary sector has shown remarkable expansion. The economy is divided into three sectors on the basis of activities–primary, secondary and tertiary.
Primary sector is involved in agriculture, the secondary sector is involved in manufacturing, mining, construction while the tertiary sector is involved in trade, transport, communication, banking & other services. In the last decade, India has expanded maximum in providing services like IT, Telecommunication, Healthcare, Tourism which is contributing around 60% to GDP.
IMPORTANT indian economy mcq EXERCISES
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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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