Indian Economy MCQs

71. As per the National Manufacturing Policy, the land area of a National Investment and Manufacturing Zone is to be minimum ____?
[A] 1000 Hectares
[B] 2000 Hectares
[C] 3000 Hectares
[D] 5000 Hectares

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72. The investment in Plant & Machinery up to which among the following amounts in India is called a Tiny Unit in India?
[A] Rs. 5 Lakh
[B] Rs. 10 Lakh
[C] Rs. 15 Lakh
[D] Rs. 25 Lakh

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73. Tendulkar Committee report has revealed that in 2004-05, India’s poverty which was measured 27% at that time is actually increased more than 10% and actual poverty was 37% . Which among the following was the reason behind these two conflicting measures of poverty in India?
[A] There was a discrepancy in the data’s collected at that time
[B] The new poverty line measures poverty on a wider access to commodity and services like health and education and not calories
[C] The calories definition of poverty has been changed by the world Bank
[D] The government at that time misled the public on by showing the wrong figures

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74. Via which of the following, the Ministry of Finance is required to review every quarter the trends in Receipts and Expenditure in relation to the Budget and place it before both Houses of Parliament?
[A] Constitution of India
[B] Responsibility and Budget Management Act 2003
[C] Finance Acts of every year
[D] Order of President of India

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75. A Non-Resident Indian wants to get approval under Government Route for FDI in ‘Single Brand’ product retailing in India. Which among the following would be the appropriate agency to approach for this application?
[A] Regional Office of Reserve Bank of India
[B] Head Office of Reserve Bank of India
[C] Department of Economic Affairs (Ministry of Finance)
[D] Department of Industrial Policy and Promotion (Ministry of Commerce)

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76. Bring out the only statement, which is not fully correct:
[A] An increase in the supply of money will always result in inflation
[B] Inflation occurs when the value of money declines
[C] Cost inflation occurs when prices rise to cover increased factor costs
[D] Inflation will have the effect of redistributing incomes within a country

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77.  How many key infrastructure sectors are known as Core sector in Indian Economy,used for Index of Industrial Production (IIP) data?
[A] 5
[B] 6
[C] 7
[D] 8

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78. Which among the following decides the Saving Banks Account Interest Rate in India?
[A] Ministry of Finance
[B] RBI
[C] Indian Banks’ Association (IBA)
[D] Banks themselves

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79. Dr. N.C. Saxena Committee was set up by the Ministry of Rural Development to advise it on

  1. Suitable methodology for BPL Census
  2. Estimation of poverty

Choose the correct option:

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

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80. Who among the following was the chairman Financial Sector Legislative Reforms Commission (FSLRC)?
[A] Justice B N Srikrishna
[B] Justice Debi Prasad Pal
[C] Prof. Y H Malegam
[D] Justice Shivraj V patil

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