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Indian Economy - MCQ Test 1


25 Questions MCQ Test RAS RPSC Prelims Preparation - Notes, Study Material & Tests | Indian Economy - MCQ Test 1


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

In which year the first industrial policy was enacted for the industrial development in India?

Solution: After having attained independence, the Government of India declared its first Industrial Policy on 6th April, 1948.  The Industrial Policy 1948 was presented in the parliament by then Industry Minister Dr. Shyama Prasad Mukherjee. The main historical importance of this policy is that it ushered India in the system of Mixed Economy.
QUESTION: 2

National Bank of Agriculture and Rural Development (NABARD) was established in:

Solution:

None of these

Explanation: National Bank for Agriculture and Rural Development (NABARD) was established on 12 July 1982 by an Act of the Parliament to promote sustainable and equitable agriculture and rural prosperity through effective credit support, related services, institutional development and other innovative initiatives.

QUESTION: 3

On which of the following dates ‘Foreign Exchange Management Act’ was implemented in India?

Solution:

1st  June 2000

Explanation:     The Foreign Exchange Management Act (1999) or in short FEMA has been introduced as a replacement for earlier Foreign Exchange Regulation Act (FERA). FEMA came into act on the 1st day of June, 2000.The main objective behind the Foreign Exchange Management Act (1999) is to consolidate and amend the law relating to foreign exchange with objective of facilitating external trade and payments and for promoting the orderly development and maintenance of foreign exchange market in India

QUESTION: 4

EXIM Bank was established in India on:
Solution:
QUESTION: 5

What is the period of 12  five year plan?
Solution:
QUESTION: 6

Where is ‘Dalal Street’?
Solution:
QUESTION: 7

Ashok Mehta Committee was related to the:-
Solution:

Panchayati Raj

Explanation: In December 1977, the Janata Government appointed a committee on Panchayati Raj institutions under the chairmanship of Ashoka Mehta.

QUESTION: 8

The writer of the book “Planned Economy for India” is
Solution:
QUESTION: 9

The concept of ‘Natural Growth Rate’ was given by
Solution:
QUESTION: 10

“Panchayat Raj” in rural development system is related to
Solution:
QUESTION: 11

In which of the following years, was NREGA launched ?
Solution:

 2005

Explanation: The Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) aims at enhancing the livelihood security of people in rural areas by guaranteeing hundred days of wage-employment in a financial year to a rural household who volunteer to do unskilled manual work.

QUESTION: 12

In which five year plan the ‘Capacity Building’ through urban local bodies wasconceived ?
Solution:
QUESTION: 13

When the exchange rate changes from 1$ = Rs 60 to 1$ = Rs 58, it means :I. Rupee value has appreciated II. Dollar value has depreciatedIII. Rupee value has depreciated IV. Dollar value has appreciated
Solution:
QUESTION: 14

According to Malthusian Theory of Population, population increases in :
Solution:

Geometrical Progression

Explanation: Malthus proposes the principle that human populations grow exponentially (i.e., doubling with each cycle) while food production grows at an arithmetic rate (i.e. by the repeated addition of a uniform increment in each uniform interval of time).

QUESTION: 15

The Phillips Curve represents relationship between :
Solution:

Inflation and Unemployment

Explanation: The Phillips curve is a single-equation empirical model, describing a historical inverse relationship between rates of unemployment and corresponding rates of inflation that result within an economy.

QUESTION: 16

Which of the following economists propagated the Pure Monetary Theory of Trade Cycle ?
Solution:
QUESTION: 17

Who is the author of the book ‘The Accumulation of Capital’ ?
Solution:

None of the above

Explanation: Rosa Luxemburg

QUESTION: 18

Which of the following economists, introduced fiscal policy as a tool to rectify the GreatDepression of 1929-30 ?
Solution:
QUESTION: 19

The Committee on Financial Sector Reforms 2008, in India was headed by :
Solution:
QUESTION: 20

As per Census 2011, the sex ratio (number of females per 1000 males) in India is :
Solution:
QUESTION: 21

The Planned Development Model was adopted in India from :
Solution:
QUESTION: 22

Which one of the following is the Chairman of the National Development Council ?
Solution:

 Prime Minister of India

Explanation: The National Development Council (NDC) or the Rashtriya Vikas Parishad is the apex body for decision making and deliberations on development matters in India, presided over by the Prime Minister.

QUESTION: 23

Which of the following states in India is famous for rubber cultivation ?
Solution:
QUESTION: 24

NREGA was renamed ‘MNREGA’ on :
Solution:
QUESTION: 25

Which one of the following is part of fiscal policy ?
Solution:

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