Quiz 627: Indian Economy

1. Consider the following statements:

  1. Bulk of employment in India is in rural areas.
  2. The disguised unemployment in agricultural sector is perennial.
  3. Industrialization has rendered several people jobless in India.

Which of the statement(s) given above is/are correct ?

[A] 1 and 2
[B] 1 and 3
[C] 2 and 3
[D] 1, 2 and 3

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2. Currently, which of the following commodities are distributed in India via Public Distribution System?

  1. Wheat
  2. Rice
  3. Sugar
  4. Pulses
  5. Kerosene

Select the correct option from the codes given below:

[A] 1 ,2 and 4
[B] 1 ,2, 3 and 4
[C] 1, 2, 3 and 5
[D] All of the above

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3. In context of ‘Indira Awaas Yojana’, consider the following statements:

  1. Indira Awaas Yojana seeks to provide shelter to rural BPL households.
  2. Allotment under this housing scheme is made only in the name of the female member of the household.

Which of the following is/are correct?

[A] Only 1
[B] Only 2
[C] Both 1 and 2
[D] Neither 1 nor 2

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4. The Laffer curve is the graphical representation of :

[A] The relationship between tax rates and absolute revenue these rates generate for the government.
[B] The inverse relationship between the rate of unemployment and the rate of inflation in an economy.
[C] The inequality in income distribution
[D] The relationship between environmental quality and economic development.

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5. The government has powers under the Essential Commodities Act, 1955 (EC Act) to declare a commodity as an essential commodity to ensure its availability to people at fair price. The Commodities covered under the Act include :
2.Hank Yarn
4.Petroleum and Petroleum Products
5.Cotton and Jute seeds

[A] 1, 2 and 3
[B] 1, 3 and 4
[C] 3, 4 and 5
[D] 2, 3, 4 and 5

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6. Which of the following is / are included in the Non-votable charges or ‘Charged Expenditure’ in the Union Budget?

  1. Salary and Allowances of the Presiding Officers of the houses of Parliament
  2. Salary and Allowances of the Judges of the Supreme Court and High Courts
  3. Salary and Allowances of the CAG
  4. Pension of the retired Judges of the Supreme Court
  5. Pension of the retired Judges of High Courts

Select the correct option from the codes given below:

[A] 1 and 2
[B] 1, 2 and 3
[C] 1, 2, 3 and 4
[D] All of them

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7. Which of the following are among the taxes levied exclusively by the Central Government and are mentioned in the Union List of the Seventh Schedule of the Constitution of India?

  1. Corporation Tax
  2. Taxes on advertisement in the newspapers
  3. Taxes on Agricultural income
  4. Taxes on consumption/sale of electricity

Select the correct option from the codes given below:

[A] Only 2
[B] Only 4
[C] 1 and 2
[D] 3 and 4

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8. Which of the following statements regarding the ‘Viability Gap Funding Scheme (VGF)’ is not true?

[A] Under VGF, the central government meets up to 20% of capital cost of a project being implemented in public private partnership (PPP) mode
[B] The scheme is administered by the ministry of finance.
[C] Sectors eligible for VGF are Infrastructure, health and education.
[D] VGF is a force multiplier, enabling government to leverage its resources more effectively.

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9. Indian Currency Printing Institutions are located in which of the following places?

  1. Nasik
  2. Hoshangabad
  3. Hyderabad
  4. Aurangabad
  5. Devas

Select the correct option from the codes given below:

[A] 1 ,2 and 4
[B] 1, 2, 3 and 4
[C] 1, 2, 3 and 5
[D] All of the above

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10. Who among the following operates the National Disaster Response Fund which was constituted under the Disaster Management Act, 2005?

[A] Prime Minister
[B] Union Minister for Home Affairs
[C] Union Minister for Parliamentary Affairs
[D] Union Minister for Environment and Forests

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  • rpsgktoday

    similar question like q no 8 came in Engineering servicess 2012 exam..thanks gk today…I will request gktoday to provide more question for cracking general studies for Engineering services exam.Nice collection.I always follow this site for current affairs and General knowledge.

  • prakash

    what a tremendious effots

  • suhasini

    in 7th question i have one doubt
    i have studied ,hight court judges salary has given from consolidate fund of state not include in union list
    only pension in that list

  • bhuvanesh

    question 7 ….i don’t think it should have pension of HC judges
    source : http://indiabudget.nic.in/ub2010-11/keybud/keybud2010.htm

  • Kumar

    For Question 4:

    Answer should be only 1. Check the Official website page below, see Allotment Rules.

  • rahul janjal

    Helps a lot ….
    Thankx ……