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70+ Indian Economy Problems and Policies Solved MCQs

These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Master of Arts in Economics (MA Economics) , Union Public Service Commission (UPSC) .

51.

Which one among the following sectors in India has the highest share of employment?

A. agriculture and allied sectors
B. manufacturing
C. construction
D. tertiary sector
Answer» A. agriculture and allied sectors
52.

When was the first agriculture census of India conducted?

A. 1880
B. 1890
C. 1921
D. 1970
Answer» D. 1970
53.

Evergreen revolution indicates:

A. wheat revolution
B. organic farming
C. large scale milk production
D. promotion of horticulture
Answer» B. organic farming
54.

What kind of unemployment is found in the agricultural sector of India?

A. situational
B. voluntary
C. frictional
D. disguised
Answer» D. disguised
55.

Which one of the following industries is not included in the Eight Core Industries?

A. coal
B. textiles
C. electricity
D. crude oil
Answer» B. textiles
56.

In the index of eight core industries, which one of the following is given the highest weight?

A. coal production
B. electricity generation
C. fertilizer production
D. steel production
Answer» B. electricity generation
57.

Which one of the following institutions acts as the apex regulatory body for food safety in India?

A. agmark and legal metrology
B. bureau of indian standards
C. fssai
D. bis
Answer» C. fssai
58.

Which one of the following is the national regulatory body for insurance industry in India?

A. sebi
B. irdai
C. rbi
D. uti
Answer» B. irdai
59.

Which segment is contributing largest into the gross savings of the country?

A. household sector
B. private corporate sector
C. public sector
D. foreign sector
Answer» A. household sector
60.

Which of the following sector is dominant in Kerala economy?

A. agrarian
B. .industrial
C. service
D. none
Answer» C. service
61.

GST is ---------- based tax on consumption of goods and services:

A. duration
B. destination
C. dividend
D. development
Answer» B. destination
62.

India chosen ---------- model of dual GST:

A. usa
B. uk
C. canadian
D. china
Answer» C. canadian
63.

GST stands for:

A. goods and supply tax
B. government sales tax
C. goods and service tax
D. general sales tax
Answer» C. goods and service tax
64.

Ashok Mehta Committee in 1977 recommended for the establishment of:

A. nagar panchayat
B. panchayat samiti
C. maha panchayat
D. mandal panchayat
Answer» D. mandal panchayat
65.

Which one of the following was the first committee to demand constitutional recognition for Panchayats?

A. balwantrai mehta committee
B. ashok mehta committee
C. santhanam committee
D. g.v.k.rao committee
Answer» A. balwantrai mehta committee
66.

When the Land Reform Act was passed?

A. 1950
B. 1953
C. 1952
D. 1957
Answer» A. 1950
67.

Till what time Indian Economy want to become a US$5 trillion dollar economy?

A. 2022-23
B. 2024-25
C. 2027-28
D. 2029-30
Answer» B. 2024-25
68.

What is the base year for calculating India's GDP?

A. 2004-05
B. 2010-11
C. 2011-12
D. 2014-15
Answer» C. 2011-12
69.

As per the Union Budget, 2020-21, what is the highest rate of Direct Tax in India?

A. 20%
B. 35%
C. 30%
D. 40%
Answer» C. 30%
70.

When was R.B.I. nationalised?

A. 1935 b.
B. 1949 c.
C. 1929 d.
D. 1914
Answer» B. 1949 c.

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