GK Questions with answers on Indian Economy Set XXVIII

Jagaran josh is presenting a GK quiz with answers on Indian Economy. In this set we included only those kinds of questions which are asked in the exams like IAS/PCS/ SSC and CDS etc.
Created On: Jun 30, 2016 17:14 IST

Jagaran josh is presenting a GK quiz with answers on Indian Economy. In this set we included only those kinds of questions which are asked in the exams like IAS/PCS/ SSC and CDS etc.

1. Which of the following statement is true about Mission Indradhanush?
(i) It was launched by Union Health Minister.
(ii) It covers 5 diseases
(iii) It was started on 5 Dec. 2013
Options are:
(a) Only ii, iii
(b) Only i,iii
(c) Only i
(d) All of the above
Ans. c

2. Which of the following is the biggest contributor in India’s foreign exchange reserve?
(a) Special drawing rights
(b) Gold
(c) Reserve with IMF
(d) Foreign exchange assets
Ans. d

3. Which of the following is NOT true about service tax in India?
(a) It was started in 1994-95
(b) Currently its rate is 15%
(c) It is the biggest contributor of Indian GDP
(d) All of the above are incorrect
Ans. d

4. Which of the following tax is imposed by the central government but collected and kept by the state governments?
(a) Excise duty
(b) Custom duty
(c) Stamp duty
(d) Wealth tax
Ans. c

5. Who among the following never hold the office of  chairman of finance commission?
(a) Pranab Mukherjee
(b) Mahaveer Tyagi
(c) K.C. Pant
(d) C. Rangarajan
Ans. a

6. Which of the following option is true about the finance commission?
(i)  Article 112 of the Indian constitution says that there will be a finance commission.
(ii) This commission is set up by the prime minister for 5 years.
(iii) 14th finance commission is set up under the chairmanship of Y.B. Reddy
(iv) The tenure of 14th finance commission is from 2015-2020.
Options are:
(a) Only i,ii
(b) Only I,ii,iii
(c) Only iii,iv
(d) All are correct
Ans. c

7. Which of the following statement is not true about Indian budget 2016-17?
(a) Government spends 10% share of its revenue on defense and subsidy each
(b) Share to states in terms of tax and duties is the biggest item of expenditure
(c) Revenue from Corporation tax is more than income tax.
(d) Revenue from excise duty is more than income tax
Ans. d

8. Closed economy is that economy, where……..????
(a) Deficit financing take place
(b) Money supply is controlled by the monetary authority
(c) Neither export nor import is allowed in the economy
(d) Only export take place
Ans. c

9. The head quarter of World Bank is situated at….
(a) Geneva
(b) Washington D.C.
(c) New York
(d) Hague
Ans. b

10. What is the mean of Population density?
(a) No. of persons in a village
(b) Ratio of population living in rural and urban areas
(c) No. of persons living per square K.M.
(d) No. of persons living per K.M.
Ans. c

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