GK Quiz on Indian Economy Set III

It is being observed that there are so many questions are asked in the recent competitive exams based on the Indian Economy. General Knowledge Quiz section is a repository of Multiple Choice Questions that will equip you with so many questions based on the deep analysis of the theory related to the different topics of Indian Economy.
Created On: Oct 31, 2018 09:53 IST
Modified On: Oct 31, 2018 09:51 IST
GK Quiz on Indian Economy Set III
GK Quiz on Indian Economy Set III

The economy of India is a developing mixed economy.It is the world's sixth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP). The combination of protectionist, import-substitution, Fabian socialism, and social democratic-inspired policies governed India for sometime after the end of British rule.

1. ………% of Indian population is dependent on agriculture?

A.  65% of total population

B.  53% of total population

C.  40% of total population

D.  65% of total population

Ans: B

2. Which Indian states produce highest quantity of soyabeen?

A.  U.P

B.  MP

C.  Kerala

D.  Maharashtra

Ans: B

3. Which of the following statement is not correct?

A.  The national insurance scheme for crops was implemented from 1999-2000

B.  Kerala is the main rubber producer in India.

C.  India is the largest tobacco producing country in the world.

D.  At present India is the third largest fertilizer producer in the world.

Ans: C

4. Which Indian state uses biggest quantity of fertilizer in India?

A.  Punjab

B.  Karnataka

C.  U.P

D.  Maharashtra

Ans: A

5. Black revolution is related to the…….

A.  Fish production

B.  Coal production

C.  Crude oil production

D.  Mustard Production

Ans: C

GK Quiz on Debt on Indian Economy

6. What percentage of Indian GDP is contributed by the service sector?

A.  25 % of GDP

B.   60 % of GDP

C.  53% of GDP

D.  49 % of GDP

Ans: B

7. Which of the following sector does not comes under the service sector in India?

A.  Real estate

B.  Transport

C.  Restaurants & hotels

D.  Formation of electronic television

Ans: D

8. Which activity is termed as activity of tertiary sector?

A.  Wheat production

B.  Mobile production

C.  Construction of a dam

D.  Fishing

Ans: C

9. Which of the following industry is known as sun rising industry?

A.  Dairy industry

B.  Information technology

C.  Health and clinic

D.  None of these

Ans: B

GK Quiz on Service Sector of Indian Economy

10. What is the current rate of service tax in India currently?

A.  12.5%

B.  13.5%

C.  14%

D.  14.5%

Ans: C

11. How many services (till 2012) are included in the service tax currently in India?

A.  119

B.  110

C.  98

D.  85

Ans: A

12. Since when the service tax is being imposed in India?

A.  1991

B.  1999

C.  1194

D.  2001

Ans: C

13. Service tax is applicable to:

A.  Whole of India

B.  Whole of India except Jammu and Kashmir

C.  Whole of India, except Jammu and Kashmir and Union Territories of Dadra, Nagar Haveli, Daman & Diu

D.  Whole of India including few part of Jammu & Kashmir

Ans: B

14. Service tax was introduced in India on the recommendation of:

A.  Kelkar Committee

B.  Dr. Raja J Challiah Committee

C.  Dr. Man Mohan Singh Committee

D.  Dr. Yashwant Sinha Committee

Ans: B

GK Quiz on Goods and Services Tax (GST)

15. The provisions relating to service tax in India are given in:

A.  Chapter V of the Finance Act, 1994

B.  Chapter VII and VIII of the Finance Act, 2004

C.  The Service tax Act, 1994

D.  Chapter V and VA of the Finance Act, 1994

Ans: D

16. When was the first industrial policy of India launched?

A.  1956

B.  1948

C.  1951

D.  1965

Ans: B

17. Which of the following statement is not correct?

A.  Monopolistic and restrictive trade practices (MRTP) act was passed in 1969.

B.  FERA was launched in 1978

C.  New industrial policy of 1991 reduced the numbers of reserved sectors for public sector to 9.

D.  First five year plan of India was focused on the development of the agriculture.

Ans: B

18. First five year plan of India was based on the:

A.  Harrod Domar model

B.  Mahalanobis model

C.  Dada Bhai Nauroji model

D.  J.L. Nehru model

Ans: A

19. Who was the proponent of Gandhian strategy?

A.  J.L. Nehru

B.  PC. Mahalanobis

C.  Shriman Narayan Agarwal

D.  None of these

Ans: C

20. Which of the following is not correct statement?

A.  Bombay plan was started in 1944

B.  JRD Tata and his associates started Bombay plan.

C.  Peoples plan was proposed by the M.N. Roy

D.  Sarvodaya plan was started by the Vinoba bhave

Ans: D

GK Quiz on “Policies for Agricultural and Rural Development”

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