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
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introduction to indian economy section 14
Question : 41 [SSC SO 2006]
Which State has the lowest per capita income in India ?
a) Orissa
b) Bihar
c) Rajasthan
d) Gujarat
Answer »Answer: (b)
According to the latest figures released by Government –
Goa leads the country with a per capita income of Rs.1,92,652/-,
while Bihar has the lowest with a per capita income of only Rs.24,681/-.
An average Goan earns 6 times more than an average Bihari.
Question : 42 [SSC CML 2001]
Commercial banking system in India is
a) unit banking
b) mixed banking
c) branch banking
d) None of these
Answer »Answer: (c)
Branch banking implies engaging in banking activities such as accepting deposits or making loans at facilities away from a bank's home office. It means a system of banking in which a banking organization works in more than one place. The main place of business is called head office and other places of business are called branches.
The head office controls and coordinates the work at branches. This system of banking is prevalent throughout the world. In India also, all the major banks have been operating under a branch banking system.
Question : 43 [SSC CPO 2003]
In estimating the budgetary deficit, the official approach in India is to exclude
a) borrowings from the Reserve Bank of India
b) long term borrowing from the market
c) drawing down of the cash balance
d) borrowing from Reserve Bank in the form of ways and means advance
Answer »Answer: (c)
When the government expenditure exceeds revenues, the government is having a budget deficit. Thus the budget deficit is the excess of government expenditures over government receipts (income).
When the government is running a deficit, it is spending more than its receipts. Budgetary Deficit is the difference between all receipts and expenditures of the government, both revenue and capital.
This difference is met by the net addition of the treasury bills issued by the RBI and the drawing down of cash balances kept with the RBI. So when it is estimated, drawing down of cash balances is excluded.
Question : 44 [SSC CGL Pre 2007]
In which plan was self-reliance first emphasised
a) Third Plan
b) Second Plan
c) Fourth Plan
d) Fifth Plan
Answer »Answer: (d)
In the Fifth Five-Year Plan (1974–1979), stress was by laid on employment, poverty alleviation, and justice. The plan also focused on self-reliance in agricultural production and defence.
For achieving economic self-reliance, the Plan aimed at elimination of special forms of external assistance, particularly food and fertilizer imports.
Question : 45
When development in economy takes place, the share of tertiary sector in national income
a) first rises and then falls
b) remains constant
c) keeps on increasing
d) first falls and then rises
Answer »Answer: (c)
When development in the economy takes place, the share of the tertiary sector in national income keeps on increasing because the tertiary sector is involved in services within and outside the country.
With development the disposable income of individuals income results in the growth of banking, trading, communication etc., both domestically and internationally.
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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