Indian Economy-GK Practice MCQ Questions – 03 Posted on July 15, 2020July 15, 2020 by admin Question 1Depreciation means A. closure of a plant due to lock out B. closure of a plant due to labour trouble C. loss of equipment over time due to wear and tear D. destruction of a plant in a fire accident Question 2Who is responsible for establishing and maintaining astound and efficient accounting and financial reporting system in India? A. The Comptroller General of Accounts B. NITI Ayog C. RBI D. None of these Question 3In India the term Black Revolution is associated with: A. Self-dependence in the production of coal B. Nurturing the Black Soil C. Self-dependence in the production of petroleum crude oil D. Self-dependence in the production of balck corp Question 4One of the reasons for India's occupational structure remaining more or less the same over the years has been that A. investment pattern has been directed towards capital intensive industries B. productivity in agriculture has been high enough to induce people to stay with agriculture C. ceiling on land holdings have enabled more people to own land and hence their preference to stay wit D. people are largely unaware of the significance of transition from agriculture to industry for econom Question 5Deficit financing leads to inflation in general, but it can be checked if A. government expenditure leads to increase in the aggregate supply in ratio of aggregate demand B. only aggregate demand is increased C. all the expenditure is denoted national debt payment only D. All of the above Question 6In India, the second largest provider of employment after agriculture is: A. Textile Sector B. Chemical Sector C. Iron and Steel Sector D. Telecommunication sector Question 7India changed over to the decimal system of coinage in A. April 1995 B. April 1957 C. April 1958 D. April 1959 Question 8Open market operation is a part of: A. Credit Policy B. Debit Policy C. Deposit Policy D. None of these Question 9The share of road transport in total transportation of the country is: A. 60% B. 70% C. 75% D. 80% Question 10The association of the rupee with pound sterling as the intervention currency was broken in A. 1990 B. 1991 C. 1992 D. 1993 Question 11Gross domestic capital formation is defined as A. flow of expenditure devoted to increased or maintaining of the capital stock B. expenditure incurred on physical assets only C. production exceeding demand D. net addition to stock after depreciation Question 12Which of the following is the most appropriate cause of export surplus? A. Country's exports promotion value B. Country's stringent import policy C. Developments in national and international markets D. None of the above Question 13The Mid Day Meal scheme was launched on A. August 15, 2000 B. August 15, 1992 C. August 15, 1995 D. August 15, 2001 Question 14If all the banks in an economy are nationalized and converted into a monopoly bank, the total deposits A. will decrease B. will increase C. will neither increase nor decrease D. None of the above Question 15Planning commission constituted a high level committee for financial sector reforms in August 2007 under the Chairmanship of: A. K.V. Kamath B. Raghuram G. Rajan C. Bimal Jalan D. None of these Question 16Who gave the call for Evergreen Revolution? A. M. S. Swaminathan B. Verghese Kurien C. Tribhuvandas Patel D. H. M. Dalaya Question 17On July 12, 1982, the ARDC was merged into A. RBI B. NABARD C. EXIM Bank D. None of the above Question 18What was the central theme of the Chipko Movement started by Sunderlal Bahuguna in 1973? A. Conservation of Forests B. Conservation of river water C. Protection of birds D. Protection of cheetals Question 19On which one of the following is the benefits received principle of taxation to achieve optimality bases? A. Marginal benefit received B. Total benefit received C. Average benefit received D. Ability to pay for the benefit Question 20Aam Admi Bima Yojana was launched on: A. November 14, 2011 B. March 5, 2009 C. March 10, 2008 D. October 2, 2007