61 + Mcqs in Indian Economy / भारतीय अर्थव्यवस्था Page 1 McqOptions

1.	Q: Income taxes are allocated to
A.	discontinued operations
B.	prior period adjustments
C.	extraordinary items
D.	All the above
Answer» E.

Discussion

2.	Which among the below are the products in which India is 1st in the world? I. Milk II. Pulses III. Spices IV. Jute
A.	I, II & III
B.	I, II & IV
C.	II, III & IV
D.	All the above
Answer» E.

Discussion

3.	In the context of food and nutritional security of India, enhancing the 'Seed Replacement Rates' of various crops helps in achieving the food production targets of the future. But what is/ are the constraint/ constraints in its wider/greater implementation? 1. There is no National Seeds Policy in place. 2. There is no participation of private sector seed companies in the supply of quality seeds of vegetables and planting materials of horticultural crops. 3. There is a demand-supply gap regarding quality seeds in case of low value and high volume crops. Select the correct answer using the code given below.
A.	1 and 2
B.	3 only
C.	2 and 3
D.	None of these
Answer» C. 2 and 3

Discussion

4.	Which among the following gives a justification about the fact that "Green Revolution has not been green as it made out to be"?1. It confined only to wheat2. It confined to selected areas only3. It helped only big farmersChoose the correct options:
A.	Only 1
B.	1 & 2
C.	1, 2 & 3
D.	2 & 3
Answer» C. 1, 2 & 3

Discussion

5.	Consider the following statements: 1. All kinds of Development Banks in India appeared Post-Independence 2. NABARD is the only agricultural Development Bank in India Which among the above statements is / are correct?
A.	Only 1 is correct
B.	Only 2 is correct
C.	Both 1 and 2 are correct
D.	Neither 1 nor 2 is correct
Answer» E.

Discussion

6.	Consider the following statements: 1. Most of the wool produced in India is not enough to fulfill demand of the country 2. Most of the wool produced in India is NOT of apparel grade Which among the above statements is are correct?
A.	Only 1 is correct
B.	Only 2 is correct
C.	Both 1 and 2 are correct
D.	Neither 1 nor 2 is correct
Answer» D. Neither 1 nor 2 is correct

Discussion

7.	Consider the following statements: 1. Both Coffee and Tea prefer slightly acidic Soil 2. Both Coffee and Tea show winter dormancy Which among the above statements is / are correct?
A.	Only 1 is correct
B.	Only 2 is correct
C.	Both 1 and 2 are correct
D.	Neither 1 nor 2 is / are correct
Answer» B. Only 2 is correct

Discussion

8.	In which five year plan in Indian Economy, the targets for the crop function were not fixed for the first time-
A.	Seventh five year plan
B.	Eighth five year plan
C.	Ninth five year plan
D.	Tenth five year plan
Answer» E.

Discussion

9.	Which one of the following is not included in the Agriculture and Allied Services of Indian Economy?
A.	Fishing
B.	Forestry
C.	Logging
D.	Food Processing
Answer» E.

Discussion

10.	Which one of the following agencies of Indian Government implements the price support scheme (PSS)?
A.	FCI
B.	NAFED
C.	Agriculture pricing agency of India
D.	None of the above
Answer» C. Agriculture pricing agency of India

Discussion

11.	Consider the following statements : 1. The farm power availability in India is much lower than that of Korea. 2. India is meeting 80% of its urea requirement through indigenous production. Which of the statements given above is/are correct?
A.	1 only
B.	2 only
C.	Both 1 and 2
D.	Neither 1 nor 2
Answer» D. Neither 1 nor 2

Discussion

12.	Consider the following statements: 1. India is the 6th largest producer of coffee. 2. India?s share in Global Area under coffee is about 2%, 3. India contributes about 4% to world coffee production as well as in the International trade. Which of the statements given above is/are correct?
A.	1 only
B.	2 only
C.	1 and 2
D.	1, 2 and 3
Answer» E.

Discussion

13.	Consider the following statements : 1. India is the 4th largest producer of Natural Rubber in the world. 2. India in the world, shares more than 8.0% in the Natural Rubber Production. Which of the statements given above is/are correct?
A.	1 only
B.	2 only
C.	Both 1 and 2
D.	Neither 1 nor 2
Answer» D. Neither 1 nor 2

Discussion

14.	With reference to the agriculture sector of India, consider the following statements 1. Rural infrastructure Development Fund disperses loans to the states to complete the minor irrigation projects. 2. Rural infrastructure Development Fund is managed by the public sector Commercial Banks. Which of the statements given above is/are correct?
A.	1 only
B.	2 only
C.	Both 1 and 2
D.	Neither 1 nor 2
Answer» B. 2 only

Discussion

15.	Consider the following statements : 1. National Agricultural Insurance Scheme (NAIS) was launched in the Sixth Five Year Plan of the Indian Economy. 2. The growth rate of the primary sector of the Indian Economy sector never reached 8% during the planning history of Indian economy. Which of the statements given above is/are correct?
A.	1 only
B.	2 only
C.	Both 1 and 2
D.	Neither 1 nor 2
Answer» E.

Discussion

16.	Consider the following statements 1. The 2013 decision of Government of India to partially decontrol the sugar industry gives the millers the freedom to sell sugar in open market and removes their obligation to supply sugar at subsidised rates to ration shops. 2. C. Rangarajan panel also suggested decontrolling of sugar industry in India. Which of the statements given above is/ are correct?
A.	Only 1
B.	Only 2
C.	Both 1 and 2
D.	Neither 1 nor 2
Answer» D. Neither 1 nor 2

Discussion

17.	Which of the fallowing are responsible for the decrease of per capita holding of cultivated land in India? 1. Low per capita income. 2. Rapid rate of increase of population. 3. Practice of dividing land equally among the heirs. 4. Use of traditional techniques of ploughing. Select the correct answer using the codes given below
A.	1 and 2
B.	2 and 3
C.	1 and 4
D.	2, 3 and 4
Answer» C. 1 and 4

Discussion

18.	Which statements regarding wheat production is/ are incorrect? 1. Maximum area under wheat is in Uttar Pradesh 2. Maximum production is in Uttar Pradesh 3. Highest productivity is in Haryana
A.	1 and 3
B.	2 only
C.	1 and 2
D.	3 only
Answer» E.

Discussion

19.	Increase in wheat production depends on 1. Area expansion 2. Developing marketing infrastructure 3. Better inputs
A.	1 only
B.	1 and 2
C.	1, 2 and 3
D.	2 and 3
Answer» E.

Discussion

20.	Consider the following statements ; 1. The Union Government fixes the Statutory Minimum Price of sugarcane for each sugar season 2. Sugar and sugarcane are essential commodities under the Essential Commodities Act. Which of the statements .given above is/are correct?
A.	1 only
B.	2 only
C.	Both 1 and 2
D.	Neither 1 nor 2
Answer» D. Neither 1 nor 2

Discussion

21.	Which of the following are the objectives of the Commission for Agricultural Costs and Prices (CACP)? 1. To stabilize agricultural prices 2. To ensure meaningful real income levels to the farmers 3. To protect the interest of the consumers by providing essential agricultural commodities at reasonable rates through public distribution system. 4. To ensure maximum price for the farmer
A.	1, 2 and 3
B.	1, 2 and 4
C.	1, 3 and 4
D.	2, 3 and 4
Answer» B. 1, 2 and 4

Discussion

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. Codes:
A.	1, 2 and 3
B.	1 and 2
C.	1 and 3
D.	2 and 3
Answer» B. 1 and 2

Discussion

23.	Which of the following are features of Indian agriculture? 1. Disguised unemployment 2. High productivity 3. Majority of large farmers 4. Dependent on monsoon
A.	1 and 2
B.	2 and 3
C.	2 and 4
D.	1 and 4
Answer» E.

Discussion

24.	The purpose of the tenancy reform legislation was to: 1. afford security of tenure to tenants 2. enact fixation of fair rent 3. conferment of ownership right on tenants in some cases
A.	1 only
B.	2 only
C.	1 and 2
D.	1, 2 and 3
Answer» E.

Discussion

25.	With reference to India?s food policy, consider the following statements: 1. It seeks to avert famines by maintaining a buffer stock 2. It ensures remunerative price for the farmers so that they do not switch crops 3. It encourages surplus production for the export market 4. It aims to maintain general price line. Which of these statements are correct?
A.	1, 2, 3 and 4
B.	1 and 4
C.	1, 2 and 4
D.	1 and 2
Answer» D. 1 and 2

Discussion

26.	Index 'Residex' is associated with-1.Share Prices2. Mutual Fund Prices3.Price Inflation Index4. Land PricesChoose the right option
A.	1 only
B.	1 and 2
C.	3 only
D.	4 only
Answer» E.

Discussion

27.	In the context of which of the following do you sometimes find the terms 'amber box, blue box and green box' in the news? [IAS Prelims 2016]
A.	WTO affairs
B.	SAARC affairs
C.	UNFCCC affairs
D.	India-EU negotiations on FTA
Answer» B. SAARC affairs

Discussion

28.	Which programme targets integrated farming, on- farm water management, storage marketing and value addition of farm produce in order to enhance farmers' income in rain fed areas?
A.	Integrated Scheme for Oilseeds, Pulses, Oil Palm and Maize
B.	National Mission for Sustainable Agriculture
C.	Mission for Integrated Development in Horticulture
D.	Rainfed Area Development Programme
Answer» E.

Discussion

29.	In 1982, the Rural Planning and Credit Cell (RPCC) of Reserve Bank of India was merged to which of the following banks?
A.	SIDBI
B.	NABARD
C.	IDBI
D.	RRB
Answer» C. IDBI

Discussion

30.	Which of the following is an apex financing agency for the institutions providing investment and production credit for promoting the various developmental activities in rural areas?
A.	RBI
B.	NABARD
C.	SIDBI
D.	RRB
Answer» C. SIDBI

Discussion

31.	Which among the following has been discontinued after the Cabinet decision in small saving schemes?
A.	National Saving Certificates (NSC)
B.	Kisan Vikas Patras (KVP)
C.	Monthly Income Scheme (MIS)
D.	Recurrent Deposit Schemes
Answer» C. Monthly Income Scheme (MIS)

Discussion

32.	Which one among the following Agricultural sectors is covered under the market Intervention scheme (MIS) of the Indian Government?
A.	Forestry
B.	Irrigation
C.	Horticulture
D.	Animal Husbandry
Answer» D. Animal Husbandry

Discussion

33.	Which one of the following is the objective of the National Watershed Development project for rain fed areas of India?
A.	Sustainable farming systems
B.	Integrated Watershed Management
C.	Reclanation of Forest Area
D.	Both [a] and [b]
Answer» E.

Discussion

34.	Which one of the following agencies is not included in the operation of the Kisan Credit Cards?
A.	Co-operative Banks
B.	Regional Rural Banks
C.	Scheduled Commercial Banks
D.	NABARD
Answer» E.

Discussion

35.	An objective of the National Food Security Mission is to increase the production of certain crops which are
A.	Rice and wheat only
B.	Rice, wheat and pulses only
C.	Rice, wheat, pulses and oil seeds only
D.	Rice, wheat, pulses, oil seeds and vegetables
Answer» C. Rice, wheat, pulses and oil seeds only

Discussion

36.	In India, which of the following has the highest share in the disbursement of credit to agriculture and allied activities?
A.	Commercial Banks
B.	Co-operative Banks
C.	Regional Rural Banks
D.	Microfinance Institutions
Answer» B. Co-operative Banks

Discussion

37.	In which of the following years was the Food Corporation of India (FCI) set up?
A.	1955
B.	1960
C.	1965
D.	1970
Answer» D. 1970

Discussion

38.	NABARD was established in the
A.	Fourth Five Year Plan
B.	Fifth Five Year Plan
C.	Sixth Five Year Plan
D.	Eighth Five Year Plan
Answer» D. Eighth Five Year Plan

Discussion

39.	The Bonded Labour System (Abolition) Act was legislated in
A.	1974
B.	1976
C.	1977
D.	1978
Answer» C. 1977

Discussion

40.	When was the National Food Security Mission (NFSM) launched in India?
A.	Rabi Season (1999-2000)
B.	Kharif Season (1999-2000)
C.	Rabi Season (2007-2008)
D.	Kharif Season (2007-2008)
Answer» D. Kharif Season (2007-2008)

Discussion

41.	National Seed Policy, 2002 was based on the recommendation of
A.	Kelkar Committee
B.	M.V Rao Committee
C.	Y.V Reddy Committee
D.	Abhijit Sen Committee
Answer» C. Y.V Reddy Committee

Discussion

42.	Which one of the following five year plans has the highest growth rate in Agriculture sector in India?
A.	Sixth Five Year Plan
B.	Seventh Five Year Plan
C.	Eighth Five Year Plan
D.	Ninth Five Year Plan
Answer» D. Ninth Five Year Plan

Discussion

43.	Which one of the following states is the first state to impose Agriculture Income Tax in India?
A.	Madhya Pradesh
B.	Uttar Pradesh
C.	West Bengal
D.	Bihar
Answer» E.

Discussion

44.	Match the following List I List II (Five Year Plan) (Emphasis)A.First1.Food security and Women empowermentB.Second2.Heavy industriesC.Fifth3.Agriculture and community developmentD.Ninth4.Removal of povertyCodes:
A.	A-1;B-2;C-3;D-3
B.	A-1;B-4;C-2;D-3
C.	A-3;B-2;C-4;D-1
D.	A-3;B-4;C-2;D-1
Answer» D. A-3;B-4;C-2;D-1

Discussion

45.	Which statement is correct regarding AICIL?I. It was incorporated in 2002 and is under the administrative control of Ministry of Finance, Government of India, and under the operational supervision of Ministry of Agriculture, Government of India.II. It seeks to provide insurance coverage and financial support to the farmers in the failure of any of the notified crop.III. It encourages the farmers to adopt progressive farming practices, high value in-puts and higher technology; to help stabilize farm incomes, particularly in disaster years.
A.	I & II
B.	II & III
C.	Only III
D.	All the above
Answer» E.

Discussion

46.	What is National Horticulture Mission? I. Mission to increase the production of rice, wheat and pulses by 10, 8 and 2 million tonnes respectively. II. To enhance investment in agriculture and allied sectors to achieve 4% growth rate. III. For promotion of holistic growth of horticulture sector, including fruits, vegetables, root and tuber crops, mushroom, spices, flowers, aromatic plants, cashew and cocoa. IV. Provides flexibility to states in implementation based on a regionally differentiated approach for promoting crop diversification and providing a focus to the programme.
A.	II
B.	III
C.	IV
D.	I
Answer» C. IV

Discussion

47.	What is an Amber Box subsidy?I. There include direct payments to farmers [o limit production and certain government assistance to encourage agriculture and rural development in developing countries.II. These include government policies of Minimum support Prices (MSP) for agricultural products or any help directly related to production quantities (for eg. power, fertiliser, seeds, pesticides, irrigation etc.).III. There include amounts spent on research, disease control, infrastructure and food security.
A.	I & III
B.	Only I
C.	Only II
D.	III & II
Answer» D. III & II

Discussion

48.	What are the land reforms taken after Independence'?I. Abolition of intermediaries like zamindars, jagirdars, etc., which resulted in several states promulgating laws for putting an end to 'absentee Landlordism’.II. Imposition of ceiling laws which lay down the maximum land that can be owned by a land holderIII. Consolidation of holding was introduced as a measure of improving farming efficiency
A.	I & II
B.	I & III
C.	Only I
D.	All the above
Answer» E.

Discussion

49.	What is Rashtriya Krishi Vikas Yojana? I. Mission to increase the production of rice, wheat and pulses by 10, 8 and 2 million tonner respectively. II. To enhance investment in agriculture and allied sectors to achieve 4% growth rate. III. For promotion of holistic growth of horticulture sector, including fruits, vegetables, root and tuber crops, mushroom, spices, flowers, aromatic plants, cashew and cocoa. IV. Provides flexibility to states in implementation based on a regionally differentiated approach for promoting crop diversification and providing a focus to the programme.
A.	II
B.	III
C.	IV
D.	I
Answer» B. III

Discussion

50.	What is the WTO Agreement on Agriculture (AoA)? I. It permitted the developed countries to continue to provide farm subsidies, but under certain restrictions. II. It permitted the developing countries to continue to provide farm subsidies, but under certain restrictions. III. It does not permit the developed countries to continue to provide farm subsidies.
A.	Only III
B.	Only I
C.	Only II
D.	None of the above
Answer» C. Only II

Discussion

Explore topic-wise MCQs in Economics.

Q: Income taxes are allocated to

Which among the below are the products in which India is 1st in the world? I. Milk II. Pulses III. Spices IV. Jute

Which among the following gives a justification about the fact that "Green Revolution has not been green as it made out to be"?1. It confined only to wheat2. It confined to selected areas only3. It helped only big farmersChoose the correct options:

Consider the following statements: 1. All kinds of Development Banks in India appeared Post-Independence 2. NABARD is the only agricultural Development Bank in India Which among the above statements is / are correct?

Consider the following statements: 1. Most of the wool produced in India is not enough to fulfill demand of the country 2. Most of the wool produced in India is NOT of apparel grade Which among the above statements is are correct?

Consider the following statements: 1. Both Coffee and Tea prefer slightly acidic Soil 2. Both Coffee and Tea show winter dormancy Which among the above statements is / are correct?

In which five year plan in Indian Economy, the targets for the crop function were not fixed for the first time-

Which one of the following is not included in the Agriculture and Allied Services of Indian Economy?

Which one of the following agencies of Indian Government implements the price support scheme (PSS)?

Consider the following statements : 1. The farm power availability in India is much lower than that of Korea. 2. India is meeting 80% of its urea requirement through indigenous production. Which of the statements given above is/are correct?

Consider the following statements: 1. India is the 6th largest producer of coffee. 2. India?s share in Global Area under coffee is about 2%, 3. India contributes about 4% to world coffee production as well as in the International trade. Which of the statements given above is/are correct?

Consider the following statements : 1. India is the 4th largest producer of Natural Rubber in the world. 2. India in the world, shares more than 8.0% in the Natural Rubber Production. Which of the statements given above is/are correct?

Which statements regarding wheat production is/ are incorrect? 1. Maximum area under wheat is in Uttar Pradesh 2. Maximum production is in Uttar Pradesh 3. Highest productivity is in Haryana

Increase in wheat production depends on 1. Area expansion 2. Developing marketing infrastructure 3. Better inputs

Consider the following statements ; 1. The Union Government fixes the Statutory Minimum Price of sugarcane for each sugar season 2. Sugar and sugarcane are essential commodities under the Essential Commodities Act. Which of the statements .given above is/are correct?

Which of the following are features of Indian agriculture? 1. Disguised unemployment 2. High productivity 3. Majority of large farmers 4. Dependent on monsoon

The purpose of the tenancy reform legislation was to: 1. afford security of tenure to tenants 2. enact fixation of fair rent 3. conferment of ownership right on tenants in some cases

Index 'Residex' is associated with-1.Share Prices2. Mutual Fund Prices3.Price Inflation Index4. Land PricesChoose the right option

In the context of which of the following do you sometimes find the terms 'amber box, blue box and green box' in the news? [IAS Prelims 2016]

Which programme targets integrated farming, on- farm water management, storage marketing and value addition of farm produce in order to enhance farmers' income in rain fed areas?

In 1982, the Rural Planning and Credit Cell (RPCC) of Reserve Bank of India was merged to which of the following banks?

Which of the following is an apex financing agency for the institutions providing investment and production credit for promoting the various developmental activities in rural areas?

Which among the following has been discontinued after the Cabinet decision in small saving schemes?

Which one among the following Agricultural sectors is covered under the market Intervention scheme (MIS) of the Indian Government?

Which one of the following is the objective of the National Watershed Development project for rain fed areas of India?

Which one of the following agencies is not included in the operation of the Kisan Credit Cards?

An objective of the National Food Security Mission is to increase the production of certain crops which are

In India, which of the following has the highest share in the disbursement of credit to agriculture and allied activities?

In which of the following years was the Food Corporation of India (FCI) set up?

NABARD was established in the

The Bonded Labour System (Abolition) Act was legislated in

When was the National Food Security Mission (NFSM) launched in India?

National Seed Policy, 2002 was based on the recommendation of

Which one of the following five year plans has the highest growth rate in Agriculture sector in India?

Which one of the following states is the first state to impose Agriculture Income Tax in India?

Match the following List I List II (Five Year Plan) (Emphasis)A.First1.Food security and Women empowermentB.Second2.Heavy industriesC.Fifth3.Agriculture and community developmentD.Ninth4.Removal of povertyCodes: