MCQOPTIONS
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MCQOPTIONS
This section includes 133 Mcqs, each offering curated multiple-choice questions to sharpen your Indian Economy knowledge and support exam preparation. Choose a topic below to get started.
| 101. |
Which of the following commission set up by the President of India decides the distribution of |
| A. | Central Law Commission |
| B. | Pays Commission for Government Employees |
| C. | Administrative Reform Commission |
| D. | Finance Commission |
| Answer» E. | |
| 102. |
Which of the following is NOT a source of tax revenue collected by the Government of India? |
| A. | Custom Duty |
| B. | Excise Duty |
| C. | Service Duty |
| D. | Dividends and Profits |
| Answer» E. | |
| 103. |
Who is the |
| A. | Prof D.T. Lakarawala |
| B. | Dr.C. Rangrajan |
| C. | Shri Digvijay Sinha |
| D. | Shri K.C. Pant |
| Answer» C. Shri Digvijay Sinha | |
| 104. |
The extent of money transfer to the States out of sharable pool of tax collection according to the |
| A. | 29.0% |
| B. | 29.5% |
| C. | 30.5% |
| D. | 32.5% |
| Answer» D. 32.5% | |
| 105. |
VAT |
| A. | Directly on consumer |
| B. | On final stage of the production |
| C. | On first stage of the production |
| D. | On all stages between production and final sale |
| Answer» E. | |
| 106. |
If the tax rate increases with the |
| A. | Proportional Tax |
| B. | Progressive Tax |
| C. | Lump sum Tax |
| D. | Regressive Tax |
| Answer» C. Lump sum Tax | |
| 107. |
The Report of |
| A. | Trade Reforms |
| B. | Centre-State Financial Relations |
| C. | Disinvestment in Public Sector Enterprises |
| D. | Tax Reforms |
| Answer» E. | |
| 108. |
Under which of the following taxes the |
| A. | Corporation Tax |
| B. | Estate Tax |
| C. | Succession Duty |
| D. | Tax on profession, trade and callings |
| Answer» C. Succession Duty | |
| 109. |
As compared to |
| A. | Higher |
| B. | Lower |
| C. | Same |
| D. | All of three |
| Answer» B. Lower | |
| 110. |
Which one of the following is NOT a source of tax |
| A. | Land Revenue |
| B. | Motor Vehicle Tax |
| C. | Entertainment Tax |
| D. | Corporate Tax |
| Answer» E. | |
| 111. |
Consider the following taxes: |
| A. | A only |
| B. | B and D |
| C. | A and C |
| D. | B and C |
| Answer» C. A and C | |
| 112. |
The recommendations of the |
| A. | Distribution of Revenue |
| B. | Powers and functions of the President of India |
| C. | Membership of Parliament |
| D. | Centre-State relations |
| Answer» E. | |
| 113. |
Which of the following is NOT a tax/duty levied by the Government of India? |
| A. | Income Tax |
| B. | Education Cess |
| C. | Service Tax |
| D. | Toll Tax |
| Answer» E. | |
| 114. |
13th Finance Commission |
| A. | Y.S.P. Thorat |
| B. | Montek Singh Ahluwalia |
| C. | C. Rangrajan |
| D. | Vijay L. Kelkar |
| Answer» E. | |
| 115. |
Who had suggested an |
| A. | Kalechi |
| B. | Kaldor |
| C. | R.J. Chelliah |
| D. | Gautam Mathur |
| Answer» C. R.J. Chelliah | |
| 116. |
Which of the following deficit gives |
| A. | Revenue Deficit |
| B. | Budgetary Deficit |
| C. | Fiscal Deficit |
| D. | Primary Deficit |
| Answer» D. Primary Deficit | |
| 117. |
Ficsal deficit |
| A. | total income less Government borrowing |
| B. | total payments less total receipts |
| C. | total payments less capital receipts |
| D. | total expenditure less total receipts excluding borrowing |
| Answer» E. | |
| 118. |
As we all know Government of India collects tax revenue on various activities in the country. Which of the following is a part of the tax revenue of the Government? |
| A. | Only 1 and 3 |
| B. | Only 2 and 4 |
| C. | Only 2, 3 and 4 |
| D. | All 1, 2, 3, and 4 |
| Answer» E. | |
| 119. |
Which of the following is/are |
| A. | 1 Only |
| B. | 2 Only |
| C. | Both 1 and 2 |
| D. | Neither 1 nor 2 |
| Answer» D. Neither 1 nor 2 | |
| 120. |
Which one of the following is the most import item of expenditure of the Government of India on |
| A. | Defence |
| B. | Subsidies |
| C. | Pensions |
| D. | Interest Payments |
| Answer» E. | |
| 121. |
With what subject is |
| A. | Austerity in Government Expenditure |
| B. | Financial Sector Reforms |
| C. | Export-Import Balance |
| D. | Rising Prices |
| Answer» C. Export-Import Balance | |
| 122. |
Which one of the following is NOT the source of |
| A. | Income Tax |
| B. | Corporate Tax |
| C. | Agriculture Income Tax |
| D. | Excise Duty |
| Answer» D. Excise Duty | |
| 123. |
Fiscal Policy |
| A. | Money supply in the economy |
| B. | Regulation of the banking system |
| C. | Planning for economic development |
| D. | Government's Revenue and Expenditure |
| Answer» D. Government's Revenue and Expenditure | |
| 124. |
Which of the following is/are some of the recommendations of the |
| A. | Only 1 |
| B. | Only 2 |
| C. | Only 3 |
| D. | All 1, 2, 3 and 4 |
| Answer» E. | |
| 125. |
As we all know, Government of India pays special emphasis on the management of |
| A. | The gap between projected or estimated GDP and Actual GDP |
| B. | The gap between the total number and value of the currency notes issued by the RBI uptill now over the number and value of those which are in actual circulation |
| C. | The gap between the actual borrowings of the Government of India and the expected expenditure for which provision is made in the budget |
| D. | Excess of Government's disbursement comprising current and capital expenditures over its current receipts (Tax/Non-tax receipts) |
| Answer» E. | |
| 126. |
The tax on |
| A. | Income tax |
| B. | Trade tax |
| C. | Custom duty |
| D. | Excise duty |
| Answer» D. Excise duty | |
| 127. |
From the following which one is NOT a |
| A. | Taxation |
| B. | Public Expenditure |
| C. | Interest Rate |
| D. | Public Debt |
| Answer» D. Public Debt | |
| 128. |
If interest payments are subtracted from |
| A. | Gross Primary Deficit |
| B. | Budgetary Deficit |
| C. | Monetized Deficit |
| D. | Revenue Deficit |
| Answer» B. Budgetary Deficit | |
| 129. |
Which of the following is true about Value |
| A. | Only 1 |
| B. | Only 2 |
| C. | Only 3 |
| D. | All 1, 2 and 3 |
| Answer» B. Only 2 | |
| 130. |
A larger part of the |
| A. | Tax revenue |
| B. | Domestic Borrowing |
| C. | Foreign borrowing |
| D. | Printing paper currency |
| Answer» C. Foreign borrowing | |
| 131. |
Match |
| A. | A. |
| B. | B. |
| C. | C. |
| D. | D. |
| Answer» B. B. | |
| 132. |
Recommendations |
| A. | Finance Minster |
| B. | Reserve Bank of India |
| C. | Planning Commission |
| D. | Finance Commission |
| Answer» E. | |
| 133. |
Which one of the following forms the |
| A. | Primary deficit |
| B. | Revenue deficit |
| C. | Budgetary deficit |
| D. | Fiscal deficit |
| Answer» E. | |