MCQOPTIONS
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MCQOPTIONS
This section includes 112 Mcqs, each offering curated multiple-choice questions to sharpen your Indian Polity and Civics knowledge and support exam preparation. Choose a topic below to get started.
| 1. |
The "Social Protection Index" has been coined by |
| A. | Asian Development Bank |
| B. | World Bank |
| C. | UNDP-United Nations Development Programme |
| D. | Planning commission of India |
| Answer» B. World Bank | |
| 2. |
Who used to give the final approval to the Five-Year Plans in India |
| A. | National Development Council |
| B. | Niti Aayog |
| C. | President of India |
| D. | Prime Minister |
| Answer» B. Niti Aayog | |
| 3. |
Which of the following is responsible for the preparation of National Accounts that includes GDP in India |
| A. | NITI Aayog |
| B. | Ministry of Finance |
| C. | The Reserve Bank of India |
| D. | National Accounts Division of Central Statistical Office |
| Answer» E. | |
| 4. |
In India, the base year for calculating GDP has been changed to |
| A. | 2010-11 |
| B. | 2011-12 |
| C. | 2012-13 |
| D. | 2013-14 |
| Answer» C. 2012-13 | |
| 5. |
When did the first devaluation of Indian rupee take place |
| A. | 1963 |
| B. | 1964 |
| C. | 1966 |
| D. | 1969 |
| Answer» D. 1969 | |
| 6. |
Non-Scheduled banks are those which have not been included in the __ scheduled of RBI Act 1934 |
| A. | first |
| B. | second |
| C. | third |
| D. | fourth |
| Answer» C. third | |
| 7. |
Economic Survey of India is related to |
| A. | Planning Commission |
| B. | Reserve Bank of India |
| C. | Ministry of Finance |
| D. | Finance Commission |
| Answer» D. Finance Commission | |
| 8. |
Mixed economy in India was first introduced in which five year plan |
| A. | 1st |
| B. | 2nd |
| C. | 3rd |
| D. | 4th |
| Answer» C. 3rd | |
| 9. |
Employing Workers Index was released by |
| A. | World Bank |
| B. | UNIDO |
| C. | International Labour Organization |
| D. | Organisation for Economic Cooperation and Development |
| Answer» B. UNIDO | |
| 10. |
Liberalisation, Privatisation and Globalisation (LPG) model of development was introduced in India in the year |
| A. | 1989 |
| B. | 1990 |
| C. | 1991 |
| D. | 1992 |
| Answer» D. 1992 | |
| 11. |
Integrated Rural Development Programme (IRDP) was intiated on |
| A. | 1980 |
| B. | 1982 |
| C. | 1986 |
| D. | 1989 |
| Answer» B. 1982 | |
| 12. |
Who has the responsibility to maintain the official rate of exchange |
| A. | RBI |
| B. | World Bank |
| C. | State Bank |
| D. | Finance Ministry |
| Answer» B. World Bank | |
| 13. |
The maximum number of Deputy Governor in RBI can be |
| A. | 2 |
| B. | 3 |
| C. | 4 |
| D. | 5 |
| Answer» D. 5 | |
| 14. |
Which of the following controls the share market of India |
| A. | BIFR |
| B. | FERA |
| C. | SEBI |
| D. | MRTP Act |
| Answer» D. MRTP Act | |
| 15. |
Who was the Deputy Chairperson of the First Five-year Plan |
| A. | Gulzarilal Nanda |
| B. | V. T. Krishnamachari |
| C. | C.D. Deshmukh |
| D. | N.R. Pillai |
| Answer» C. C.D. Deshmukh | |
| 16. |
During which Five-Year plan, the Green Revolution was introduced in India |
| A. | Third Five year plan |
| B. | Fourth Five year plan |
| C. | Fifth Five year plan |
| D. | Sixth Five year plan |
| Answer» C. Fifth Five year plan | |
| 17. |
Which of the following periods is known as plan holiday in India |
| A. | 1965-1970 |
| B. | 1970-1975 |
| C. | 1975-1980 |
| D. | 1980-1985 |
| Answer» B. 1970-1975 | |
| 18. |
Service tax is not levied in which of the states |
| A. | Nagaland |
| B. | Arunachal Pradesh |
| C. | Mizoram |
| D. | Jammu and Kashmir |
| Answer» E. | |
| 19. |
GST Council is chaired by |
| A. | President |
| B. | Prime Minister |
| C. | Union Finance Minister |
| D. | Union Commerce Minister |
| Answer» D. Union Commerce Minister | |
| 20. |
The economist who recommended Expenditure Tax in India is |
| A. | Keynes |
| B. | H Dalton |
| C. | Nicolas Kaldor |
| D. | Galbraith |
| Answer» D. Galbraith | |
| 21. |
The vicious circle argument points out the supply side connection between |
| A. | Productivity and Income |
| B. | Income and Population |
| C. | Investment and Technology |
| D. | Saving and Capital |
| Answer» B. Income and Population | |
| 22. |
The most important source of Plan finance to cover up the gap between intended expenditure and available resources is in |
| A. | Direct taxes |
| B. | Indirect taxes |
| C. | Foreign aid |
| D. | Deficit planning |
| Answer» E. | |
| 23. |
During the Economic Crisis in July 1991, how many times the rupee was devalued |
| A. | 1 |
| B. | 2 |
| C. | 3 |
| D. | 4 |
| Answer» C. 3 | |
| 24. |
India's foreign exchange rate system is |
| A. | Free float |
| B. | Fixed |
| C. | Managed float |
| D. | Fixed target of band |
| Answer» D. Fixed target of band | |
| 25. |
Which of the following Five Year Plans of India laid emphasis on establishment of heavy Industries for the first time |
| A. | Second Five Year Plan |
| B. | Third Five Year Plan |
| C. | Fifth Five Year Plan |
| D. | Seventh Five Year Plan |
| Answer» B. Third Five Year Plan | |
| 26. |
Who appoints the Finance Commission in India |
| A. | RBI Governor |
| B. | CAG of India |
| C. | President of India |
| D. | Central Finance Minister |
| Answer» D. Central Finance Minister | |
| 27. |
The rate at which RBI lends money to commercial banks in the event of any shortfall of funds is known as __ |
| A. | Repo Rate |
| B. | Cash Rate |
| C. | Reverse Repor Rate |
| D. | Bank Rate |
| Answer» B. Cash Rate | |
| 28. |
Expenditure tax in India was introduced by |
| A. | T.T. Krishnamachari |
| B. | C. Rajagopalachari |
| C. | Yashwant Sinha |
| D. | R. Venkatraman |
| Answer» B. C. Rajagopalachari | |
| 29. |
Service tax was introduced in India on the recommendation of |
| A. | Kelkar Committee |
| B. | Raja J. Challiah Committee |
| C. | Manmohan Singh Committee |
| D. | Yashwant Sinha Committee |
| Answer» C. Manmohan Singh Committee | |
| 30. |
Black revolution is related to the |
| A. | Fish Production |
| B. | Coal Production |
| C. | Crude oil Production |
| D. | Mustard Production |
| Answer» D. Mustard Production | |
| 31. |
Who amongst the following is responsible for revenue sharing between the State Government and the Local Government |
| A. | The Chief Minister |
| B. | The Governor |
| C. | State Finance Commission |
| D. | None of these |
| Answer» D. None of these | |
| 32. |
The Gandhian economy is based on the principle of |
| A. | Competition |
| B. | Trusteeship |
| C. | State Control |
| D. | None of these |
| Answer» C. State Control | |
| 33. |
In India, the Capital Market conditions are regulated by |
| A. | RBI |
| B. | LIC |
| C. | SEBI |
| D. | NABARD |
| Answer» D. NABARD | |
| 34. |
The Government of India adopted the Special Economic Zones (SEZ) Act in the year |
| A. | 2003 |
| B. | 2004 |
| C. | 2005 |
| D. | 2006 |
| Answer» D. 2006 | |
| 35. |
Repo rate and Reverse Repo rate are related with |
| A. | Government's Financial Policy |
| B. | Public Debt |
| C. | Import-Export |
| D. | Credit Policy of Reserve Bank |
| Answer» E. | |
| 36. |
Who is known as the Pioneer of Economic Nationalism |
| A. | R.C. Dutt |
| B. | Gopal Krishna Gokhale |
| C. | Bipin Chandra Pal |
| D. | Madan Mohan Malviya |
| Answer» B. Gopal Krishna Gokhale | |
| 37. |
The system of VAT is applicable to |
| A. | Income tax |
| B. | Estate duty |
| C. | Taxes on agricultural income |
| D. | Excise duties |
| Answer» E. | |
| 38. |
PAN stands for |
| A. | Permanent Account Number |
| B. | Personal Account Number |
| C. | Public Account Number |
| D. | Postal Account Number |
| Answer» B. Personal Account Number | |
| 39. |
Which one is the first finance minister who went on to become the President of India |
| A. | Shankar Dayal Sharma |
| B. | Neelam Sanjiva Reddy |
| C. | Fakhruddin Ali Ahmed |
| D. | R Venkataraman |
| Answer» E. | |
| 40. |
Who is the largest trading partner of India |
| A. | USA |
| B. | China |
| C. | England |
| D. | United Arab Emirates |
| Answer» C. England | |
| 41. |
The National Development Council was established in the year |
| A. | 1952 |
| B. | 1955 |
| C. | 1960 |
| D. | 1963 |
| Answer» B. 1955 | |
| 42. |
The focus of the Second Five Year Plan was |
| A. | Agriculture |
| B. | Industrialization |
| C. | Education |
| D. | Foreign Direct Investment |
| Answer» C. Education | |
| 43. |
The concept of five year paln was borrowed from |
| A. | USA |
| B. | England |
| C. | Rusia |
| D. | France |
| Answer» D. France | |
| 44. |
The first planning commission in India was formed in the year |
| A. | 1947 |
| B. | 1950 |
| C. | 1952 |
| D. | 1955 |
| Answer» C. 1952 | |
| 45. |
Which Five-Year plan focussed on "growth with social justice and equity" |
| A. | Sixth Five-Year Plan |
| B. | Seventh Five-Year Plan |
| C. | Eight Five-Year Plan |
| D. | Ninth Five-Year Plan |
| Answer» E. | |
| 46. |
Which of the following will not come under the proposed GST in India |
| A. | Agricultural products |
| B. | Handicrafts |
| C. | Gems and Jewelleries |
| D. | Petroleum products |
| Answer» E. | |
| 47. |
The Economic Survey in India is published by |
| A. | Ministry of Finance |
| B. | Planning Commission |
| C. | Government of India |
| D. | Indian Statistical Institute |
| Answer» B. Planning Commission | |
| 48. |
What is the mainstay of Indian economy |
| A. | Manufacturing |
| B. | Agriculture |
| C. | Business |
| D. | Public sector undertaking |
| Answer» C. Business | |
| 49. |
India's National income is measured with the help of |
| A. | Product method |
| B. | Income method |
| C. | Expenditure method |
| D. | All of the above |
| Answer» E. | |
| 50. |
A Surplus budget is recommended during |
| A. | Depression |
| B. | Boom |
| C. | War |
| D. | Famines |
| Answer» C. War | |