introduction to indian economy section 9 Practice Questions Answers Test with Solutions & More Shortcuts

Question : 46 [SSC SO 2008]

Reserve Bank of India was nationalised in

a) 1948

b) 1947

c) 1949

d) 1951

Answer: (c)

The Reserve Bank of India (RBI) is India’s central banking institution, which controls the monetary policy of the Indian rupee. It was established on 1 April 1935 during the British Raj in accordance with the provisions of the Reserve Bank of India Act, 1934.

Following India’s independence in 1947, the RBI was nationalised in the year 1949. Though originally set up as a shareholders’ bank, the RBI has been fully owned by the Government of India since its nationalization in 1949.

Question : 47 [SSC CGL 2015]

Indian economy is an example of a mixed economy because,

a) traditional subsistence economy coexists with modern economy

b) urban sector coexists with vast rural sector

c) private sector coexists with public sector enterprises

d) monopoly elements coexist with competitive elements

Answer: (c)

A mixed economy is a combination of the market economy as well as government planning. It has both private sector and public sector.

Some businesses are owned by private individuals while some businesses are owned by the government. India is an example of a mixed economy.

Question : 48 [SSC 2012]

Buffer stock operations are conducted by

a) Ministry of Agriculture

b) State Trading Corporation of India

c) Food Corporation of India

d) Warehousing Corporation of India

Answer: (c)

Food Corporation of India

Question : 49

As per CRISIL index on Financial inclusion which part of India is top in the financial inclusion?

a) East India

b) North India

c) West India

d) South India

Answer: (d)

Question : 50 [SSC CML 2002]

Which of the following is the specially designed scheme for the welfare of the Indian women introduced recently by General Insurance?

a) Bhagya Rajeshwari

b) Rajeshwari

c) Bhagyashree

d) Raja Lakshmi

Answer: (b)

Raj Rajeshwari Mahila Kalyan Yojana is a personal accident insurance scheme that provides economic security to women irrespective of their income, occupation or vocation. All sections of women in the age group 10 to 75 years are eligible for this scheme.

Premium is Rs.15/- per woman per annum for the basic cover and Rs23/- per woman per annum for both basic and additional cover.

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1193 Introduction to Indian Economy based MCQ section 9 question answer with explanation pdf

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