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Indian Economy - MCQ Test 1 - UPSC MCQ


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25 Questions MCQ Test - Indian Economy - MCQ Test 1

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Indian Economy - MCQ Test 1 - Question 1

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

Detailed Solution for Indian Economy - MCQ Test 1 - Question 1
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.
Indian Economy - MCQ Test 1 - Question 2

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

Detailed Solution for Indian Economy - MCQ Test 1 - Question 2

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.

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Indian Economy - MCQ Test 1 - Question 3

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

Detailed Solution for Indian Economy - MCQ Test 1 - Question 3

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

Indian Economy - MCQ Test 1 - Question 4

EXIM Bank was established in India on:

Indian Economy - MCQ Test 1 - Question 5

What is the period of 12  five year plan?

Indian Economy - MCQ Test 1 - Question 6

Where is ‘Dalal Street’?

Indian Economy - MCQ Test 1 - Question 7

Ashok Mehta Committee was related to the:-

Detailed Solution for Indian Economy - MCQ Test 1 - Question 7

Panchayati Raj

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

Indian Economy - MCQ Test 1 - Question 8

The writer of the book “Planned Economy for India” is

Indian Economy - MCQ Test 1 - Question 9

The concept of ‘Natural Growth Rate’ was given by

Indian Economy - MCQ Test 1 - Question 10

“Panchayat Raj” in rural development system is related to

Indian Economy - MCQ Test 1 - Question 11

In which of the following years, was NREGA launched ?

Detailed Solution for Indian Economy - MCQ Test 1 - Question 11

 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.

Indian Economy - MCQ Test 1 - Question 12

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

Indian Economy - MCQ Test 1 - 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

Indian Economy - MCQ Test 1 - Question 14

According to Malthusian Theory of Population, population increases in :

Detailed Solution for Indian Economy - MCQ Test 1 - Question 14

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).

Indian Economy - MCQ Test 1 - Question 15

The Phillips Curve represents relationship between :

Detailed Solution for Indian Economy - MCQ Test 1 - Question 15

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.

Indian Economy - MCQ Test 1 - Question 16

Which of the following economists propagated the Pure Monetary Theory of Trade Cycle ?

Indian Economy - MCQ Test 1 - Question 17

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

Detailed Solution for Indian Economy - MCQ Test 1 - Question 17

None of the above

Explanation: Rosa Luxemburg

Indian Economy - MCQ Test 1 - Question 18

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

Indian Economy - MCQ Test 1 - Question 19

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

Indian Economy - MCQ Test 1 - Question 20

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

Indian Economy - MCQ Test 1 - Question 21

The Planned Development Model was adopted in India from :

Indian Economy - MCQ Test 1 - Question 22

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

Detailed Solution for Indian Economy - MCQ Test 1 - Question 22

 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.

Indian Economy - MCQ Test 1 - Question 23

Which of the following states in India is famous for rubber cultivation ?

Indian Economy - MCQ Test 1 - Question 24

NREGA was renamed ‘MNREGA’ on :

Indian Economy - MCQ Test 1 - Question 25

Which one of the following is part of fiscal policy ?

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