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Test: Indian Economy - 1 - UPSC MCQ

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25 Questions MCQ Test - Test: Indian Economy - 1

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Test: Indian Economy - 1 - Question 1

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People belonging to what age group are eligible for training under TRYSEM scheme?

A.
18-35
B.
25-40
C.
18-50
D.
18-25

Detailed Solution for Test: Indian Economy - 1 - Question 1

The Scheme of TRYSEM- Training of Rural Youth for Self Employment, a facilitating component of Integrated Rural Development Programme(IRDP), aims at providing basic technical and entrepreneurial skills to the rural poor in the age group of 18 to 35 years to enable them to take up income generating activities.

Test: Indian Economy - 1 - Question 2

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Which of the following plans aimed at the removal of poverty and attainment of self-reliance?

A.
Second plan
B.
Third plan
C.
Fourth plan
D.
Fifth plan

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

The Fifth Five Year Plan (1974-79):

This plan was prepared and launched by D.D. Dhar:

It mainly aimed at removal of poverty (Garibl Hatao) and attainment of self reliance. The aim was to bring larger sections of the poor masses above the poverty line by assuring minimum income of Rs. 40 per person per month calculated at 1972-73 prices. The plan was terminated in 1978 instead of (1979) when Janta Government came to power.

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Test: Indian Economy - 1 - Question 3

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When, for the first time, did the Prime Minister of India announce the 20-point Economic Programme?

A.
1973
B.
1974
C.
1975
D.
1976

Test: Indian Economy - 1 - Question 4

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Which Indian state has the largest number of cotton textile mills?

A.
Madhya Pradesh
B.
Maharashtra
C.
Gujarat
D.
West Bengal

Test: Indian Economy - 1 - Question 5

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Who was the first administrator-statesman to attempt planning as a means for economic development?

A.
Sir CP Ramaswami Aiyyar
B.
M Viswesvarayya
C.
VT Krishnamachari
D.
C Rajagopalachari

Detailed Solution for Test: Indian Economy - 1 - Question 5

Planning is a part of the development of a country in which a plan is made with set goals for the upcoming year/years.

M. Visvesvaraya was the first administrator-statesman who introduced the concept of planning in economic development of a country.

He believed that through planning, the workers felt motivated as it allows them to follow a certain target.

M. Visvesvaraya was an Indian Civil Engineer and statesman.

Test: Indian Economy - 1 - Question 6

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Which one of the following is a Rabi crop?

A.
Rice
B.
Jowar
C.
Cotton
D.
Peas

Detailed Solution for Test: Indian Economy - 1 - Question 6

A good rain in winter spoils the rabi crops but is good for kharif crops. The major rabi crop in India is wheat, followed by barley, mustard, sesame and peas. Peas are harvested early, as they are ready early: Indian markets are flooded with green peas from January to March, peaking in February.

Test: Indian Economy - 1 - Question 7

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The Mumbai Stock Exchange was set up in

A.
1875
B.
1900
C.
1922
D.
1947

Test: Indian Economy - 1 - Question 8

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Which one of the following was launched with the objective of helping the poor in rural areas to become self employed?

A.
DPAP
B.
IRDP
C.
TRYSEM
D.
DDP

Test: Indian Economy - 1 - Question 9

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Which of the following organizations looks after the credit needs of agriculture and rural development in India?

A.
FCI
B.
IDBI
C.
NABARD
D.
ICAR

Test: Indian Economy - 1 - Question 10

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In India which of the following taxes is levied by the state governments?

A.
Excise duty on liquor
B.
Capital gains tax
C.
Customs tax
D.
Corporation tax

Test: Indian Economy - 1 - Question 11

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Which industry employs the largest number of women in India?

A.
Tea
B.
Textile
C.
Jute
D.
Coal

Test: Indian Economy - 1 - Question 12

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With which aspect of commerce are ‘Bulls and Bears’ associated?

A.
Foreign Trade
B.
Stock Exchange market
C.
Banking
D.
International finance

Test: Indian Economy - 1 - Question 13

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State Financial Corporations give assistance mainly to develop

A.
Small and medium scale industries
B.
Agricultural farms
C.
Cotton industry
D.
Large scale industries

Test: Indian Economy - 1 - Question 14

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In which of the following fields was the first co-operative movement in India initiated?

A.
Agricultural credit
B.
Farming activities
C.
Consumer co-operation
D.
Agricultural marketing

Test: Indian Economy - 1 - Question 15

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Which of the following taxes is/are levied by the Union and collected and appropriated by the states?

A.
Stamp duties
B.
Passenger and good tax
C.
Estate duty
D.
Taxes on newspapers

Test: Indian Economy - 1 - Question 16

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Which of the following deals with economic offences?

A.
MISA
B.
NSA
C.
TADA
D.
COFEPOSA

Test: Indian Economy - 1 - Question 17

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In India, inflation is measured by

A.
Wholesale price index number
B.
Consumer price index for urban non-manual workers
C.
Consumer price index for agricultural workers
D.
National income deflation

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

Answer: a

Explanation: Inflation rates in India are usually quoted as changes in the Wholesale Price Index, for all commodities. Many developing countries use changes in the Consumer Price Index (CPI) as their central measure of inflation

Test: Indian Economy - 1 - Question 18

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Which one of the following is more effective in controlling prices in the long run?

A.
Decrease in production
B.
Increase in production
C.
Decrease in the rate of interest
D.
Increase in the rate of employment

Test: Indian Economy - 1 - Question 19

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Through open market operations, the RBI purchase and sell

A.
Foreign exchange
B.
Gold
C.
Government securities
D.
all of these

Test: Indian Economy - 1 - Question 20

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Through open market operations, the RBI purchase and sell

A.
Foreign exchange
B.
Gold
C.
Government securities
D.
all of these

Test: Indian Economy - 1 - Question 21

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The balance of payment comprises

A.
a current account of goods and services only
B.
a capital account of financial assets only
C.
Official settlement accounts only
D.
all of these

Test: Indian Economy - 1 - Question 22

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Bank rate means

A.
Interest rate charged by moneylenders
B.
Interest rate charged by scheduled banks
C.
Rate of profit of the banking institution
D.
The official rate of interest charged by the central bank of the country

Test: Indian Economy - 1 - Question 23

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Which agency estimates the national income of India?

A.
Reserve Bank of India
B.
Planning Commission
C.
Ministry of Finance
D.
Central Statistical Organization

Test: Indian Economy - 1 - Question 24

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Which of the following is not a direct tax?

A.
Estate duty
B.
Agricultural income tax
C.
State excise
D.
Corporation tax

Test: Indian Economy - 1 - Question 25

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In India, coins and subsidiary coins are issued by

A.
Union Government
B.
Reserve Bank of India
C.
Ministry of Finance
D.
Supreme Court

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