Indian Economy Quiz - 2, General Knowledge


25 Questions MCQ Test General Knowledge | Indian Economy Quiz - 2, General Knowledge


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This mock test of Indian Economy Quiz - 2, General Knowledge for Current Affairs helps you for every Current Affairs entrance exam. This contains 25 Multiple Choice Questions for Current Affairs Indian Economy Quiz - 2, General Knowledge (mcq) to study with solutions a complete question bank. The solved questions answers in this Indian Economy Quiz - 2, General Knowledge quiz give you a good mix of easy questions and tough questions. Current Affairs students definitely take this Indian Economy Quiz - 2, General Knowledge exercise for a better result in the exam. You can find other Indian Economy Quiz - 2, General Knowledge extra questions, long questions & short questions for Current Affairs on EduRev as well by searching above.
QUESTION: 1

Our financial system has provided for the transfer of resources from the centre to the states; the important means of resource transfer are

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QUESTION: 2

Debenture holders of a company are its

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QUESTION: 3

Which of the following is the first Indian private company to sign an accord with Government of Myanmar for oil exploration in two offshore blocks in that country?

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QUESTION: 4

Excise duty is a tax levied on the

Solution: What is Excise Duty? Is it collected by the State Government or the Central Government? How is it different from Sales Tax?

Excise duty is a tax on manufacture or production of goods. Excise duty on alcohol, alcoholic preparations, and narcotic substances is collected by the State Government and is called "State Excise" duty. The Excise duty on rest of goods is called "Central Excise" duty and is collected in terms of Section 3 of the Central Excise Act, 1944.

Sales Tax is different from the Excise duty as former is a tax on the act of sale while the latter is a tax on the act of manufacture or production of goods.

Reference: http://www.cbec.gov.in/faq.htm

QUESTION: 5

In pursuance with the recommendations of Narsimhan Committee, the RBI has framed new guidelines

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QUESTION: 6

Non Tax revenues can be increased by improving the working of the

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QUESTION: 7

Which of the following is not viewed as a national debt?

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QUESTION: 8

The condition of indirect taxes in the country's revenue is approximately

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QUESTION: 9

Deficit financing means that the government borrows money from the

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QUESTION: 10

Revenue of the state governments are raised from the following sources, except

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QUESTION: 11

Since the inception of the co-operative movement, rural credits has been

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QUESTION: 12

If an economy is equilibrium at the point where plans to save and to invest are equal, then government expenditure must be

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QUESTION: 13

The co-operative credit societies have a

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QUESTION: 14

Regional rural banks

  1. have limited area of operation
  2. have free access to liberal refinance facilities from NABARD
  3. are required to lend only to weaker sections
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QUESTION: 15

The Board of Industrial and Financial Reconstruction (BIFR) came into existence in

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QUESTION: 16

The current price index (base 1960) is nearly 330. This means that

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QUESTION: 17

Notes on which denomination has the portrait of Mahatma Gandhi printed on them?

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QUESTION: 18

Devaluation of currency will be more beneficial if

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QUESTION: 19

Of the gross tax revenue of the Union Government the indirect taxes account for nearly

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QUESTION: 20

The banks are required to maintain a certain ratio between their cash in the hand and totals assets. This is called

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QUESTION: 21

Reserve Bank of India was nationalized in the year

Solution:

RBI established in 1935 and nationalized in 1949.

Ref: http://en.wikipedia.org/wiki/Reserve_Bank_of_India

QUESTION: 22

In India, rural incomes are generally lower than the urban incomes, which of the following reasons account for this?

  1. A large number of farmers are illiterate and know little about scientific agriculture
  2. Prices of primary products are lower than those of manufactured products
  3. Investment in agriculture has been low when compared to investment in industry
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QUESTION: 23

National Agricultural Insurance Scheme replacing Comprehensive Crop Insurance Scheme was introduced in the year

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QUESTION: 24

If the fiscal deficit of the Union Government is Rs. 75,000 crores relending to State is Rs. 25,000 crores, interest payments are Rs. 25,000 crores, what is the amount of the primary deficit?

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QUESTION: 25

Fiscal deficit in the Union Budget means

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