Indian Economy MCQs

Indian Economy Multiple Choice Questions (MCQs) for State and UPSC Civil Services Examinations. Objective Questions on Indian Economy for competitive examinations.

11. In which year, Planning Commission was established in India?
[A] 1950
[B] 1951
[C] 1952
[D] 1955

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12. The rate at which RBI purchases or rediscounts bills of exchange of commercial banks is called?
[A] Repo rate
[B] Reverse repo rate
[C] Bank rate
[D] Base rate

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13. In which year Bombay Stock Exchange was established?
[A] 1865
[B] 1875
[C] 1880
[D] 1890

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14. If the demand and supply of a commodity increase by an equal absolute amount, what will be the effect on market price?
[A] Increase
[B] Decrease
[C] Remain Stable
[D] First decrease then increase

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15. What does the word Olericulture refer to ____?
[A] Cultivation of Fruits
[B] Cultivation of Vegetables
[C] Cultivation of Oil Seeds
[D] Cultivation of Cash Crops

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16. Inter-racial hybridization programme between japonicas and indicas varieties of which among the following crops was initiated during 1950-54?
[A] Wheat
[B] Rice
[C] Sugarcane
[D] Cotton

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17. Ad Valorem Tax is levied on the basis of which among the following?
[A] Volume
[B] Value
[C] Production
[D] Export

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18. What was the period of India’s First Five Year Plan? 
[A] 1951-56
[B] 1961-66
[C] 1969-1974
[D] 1979-1984

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19. Which among the following is a correct feature of a perpetual bond?
[A] Perpetual Bonds have no fixed interest rates
[B] Perpetual Bonds have no fixed maturity
[C] Perpetual Bonds have no fixed underlying assets
[D] Perpetual Bonds don’t exist in India

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20. Which among the following bodies estimates the national income of India?
[A] Office of the Economic Advisor
[B] Ministry of Statistics
[C] Central Statistical Office
[D] Ministry of Finance

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