Indian Economy MCQs

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The two presses of Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) are located at Mysore and Salboni.

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Golden share means a type of share that gives special voting rights and the ability to block key strategic decisions, especially takeovers by other shareholders. It generally refers to more than 50% shares being with one individual or entity.

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We all know that the central banks of the countries usually stimulate a slowing economy by cutting interest rates. When interest rates are cut, people are encouraged to spend by borrowing more or discouraging them to save. But when there is a consistent cut in the interest rates and they become almost zero, then this option can be no longer used. Now, what to do in such circumstances? In such a situation, the central banks resort to pumping money directly into the economy. This “direct pumping of money into economy” is called quantitative easing. Money is directly pumped in the economy by buying bonds, which are usually Government and occasionally Private bonds from banks and financial institutions. In the aftermath of the financial crisis of 2008, the developed countries used quantitative easing to spur growth.

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A centrally planned economy is an economic system in which the state or government makes economic decisions rather than the these being made by the interaction between consumers and businesses.

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The main purpose of the proportional representation system is to assure the representation of all groups and ideologies. So, it is usually adopted in a multi-party system representing multiple ideologies.
 In a two party system, the seats are ultimately going to be divided between the two parties and there is negligible chance of leaving out a group as compared to the multi-party system.
So, first past the post can be adopted in two party system, avoiding the complexities of proportional representation.

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The Department of Economic Affairs, Finance Ministry of India presents the Economic Survey in the parliament every year, just before the Union Budget. It is prepared under the guidance of the Chief Economic Adviser, Finance Ministry. It is the ministry’s view on the annual economic development of the country.

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Merit goods are the goods that are provided generally by the government to certain sections of society. Unlike in the case of pure public goods, merit goods are not provided to the entire society; rather they are given to certain targeted people. They Have positive externalities Ex: health, education
 

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Das Kapital, a critique of political economy is a foundational theoretical text in materialist philosophy, economics and politics by Karl Marx . It was published in 1867.

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Top 10 Imports of India

#	Import Category	Import Value	Share of Total Imports	Top Source Countries
1	Petroleum fuels & oils	US$220.6B	31.4%	Russia, Iraq, Saudi Arabia, UAE
2	Electrical machinery & equipment	US$84.9B	12.1%	China, Vietnam, South Korea
3	Gems & precious metals	US$83.3B	11.9%	Switzerland, UAE, South Africa
4	Machinery incl. computers	US$61.6B	8.8%	Germany, USA, Japan
5	Organic chemicals	US$26B	3.7%	China, USA, Singapore
6	Plastics & plastic articles	US$21.9B	3.1%	China, Germany, USA
7	Iron & steel	US$17.7B	2.5%	South Korea, China, Japan
8	Animal & vegetable oils	US$17B	2.4%	Indonesia, Malaysia, Ukraine
9	Optical/technical/medical apparatus	US$13.7B	1.9%	Germany, USA, Japan
10	Aircraft & spacecraft	US$12.6B	1.8%	USA, France, Russia

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According to recent reports, the per capita consumption of vegetable oil in India is around 18.7 kg per year. This means that on average, each person in India consumes nearly 18.7 kilograms of vegetable oil annually.