Indian Economy GK Quiz-18

Indian Economy GK Quiz-18

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

    341. NTPC is a Central Public Sector Enterprise in which sector?

    (1) Education 
    (2) Health
    (3) Power 
    (4) Transport
    Answer:
    341. (3) NTPC Limited (previously known as National Thermal Power Corporation Limited) is an Indian PSU Public Sector Undertaking, engaged in the business of generation of electricity and allied activities. NTPC’s core business is generation and sale of electricity to stateowned power distribution companies and State Electricity Boards in India.

    342. Which State Government has launched the Smart Village Programme, to improve public facilities in village?

    (1) Maharashtra 
    (2) Rajasthan
    (3) Odisha 
    (4) Gujarat
    Answer:
    342. (4) The Gujarat government, on 22 May 2014, launched the Smart Village programme to improve
    public facilities in villages. The objective of the programme is to make villages self-reliant, clean, and
    hygienic. It has been conceptualized on the lines of Smart Cities initiative of the Union Government under which 100 cities were chosen for infrastructure development.

    343. Which of the following programmes meet the credit needs of poor women?

    (1) Mahila Samriddhi Yojna
    (2) Rashtriya Mahila Kosh
    (3) Indira Mahila Yojna
    (4) Mahila Samakhya Programme
    Answer:
    343. (2) Rashtriya Mahila Kosh (RMK) was set up in March 1993 to meet credit needs of poor women, particularly in the informal sector, who have little or no access to formal credit institutions. RMK extends microfinance to the poorest and asset less women entrepreneurs for income generating activities.

    344. HRIDAY scheme launched by Urban Development Ministry aims at

    (1) Education of girl child
    (2) Development of smart cities
    (3) Urban sewage treatment
    (4) Development of heritage sites
    Answer:
    344. (4) National Heritage City Development and Augmentation Yojana (HRIDAY) was launched on 21 January 2015 with the aim of bringing together urban planning, economic growth and heritage conservation in an inclusive manner to preserve the heritage character of each Heritage City. The Scheme shall support development of core heritage infrastructure projects for heritage assets such as monuments, Ghats, temples etc. along with reviving certain intangible assets.

    345. The industry having the largest investment in Indian Economy is

    (1) Tea 
    (2) Cement
    (3) Steel 
    (4) Jute
    Answer:
    345. (3) The iron and steel industry accounts for the largest investment in Indian economy. The industry has been receiving major government as well as Foreign Direct investments. Some of the major investments in the Indian steel industry are as follows:
    • Tidfore Heavy Equipment Group, the China-based infrastructure giant, is looking to enter the Indian market by signing an investment agreement worth US$ 150 million with Uttam Galva Metallics, to expand its Wardha unit along with South Korean steel major Posco.
    • Arcelor Mittal SA is looking to set up a joint venture (JV) factory in India with state-owned Steel Authority of India Ltd (SAIL), to manufacture high-end steel products which could be used in defence and satellite industries;
    • JSW Group plans to invest around Rs 10,000 crore (US$ 1.49 billion) at Salboni in West Bengal to set up 1,320 Megawatt (MW) coal-based power plant, 4.8 million tonne cement plant and paints factory over a period of next five to seven years;
    • National Mineral Development Corporation (NMDC) has planned to invest Rs 40,000 crore (US$ 5.96 billion) in the next eight years to achieve mining capacity of 75 Million Tonnes Per Annum (MTPA) by FY 2018-19 and 100 MTPA by FY 2021-2’ etc.

    346. Mission Indradhanush – a programme introduced recently in the country by the NDA Government is related to:

    (1) Systematic immunization of children against disease
    (2) Providing insurance cover to farmers against crop failure
    (3) Development of fisheries in rural areas
    (4) Development of multiple cropping in hilly region
    Answer:
    346. (1) Union Ministry of Health and Family Welfare launched Mission Indradhanush on 25 December
    2014 with the aim of expanding immunization coverage to all children across India by year 2020. It aims to immunize all children against seven vaccine preventable diseases namely Diphtheria, Pertussis, Tetanus, Childhood Tuberculosis, Polio, Hepatitis B and Measles.

    347. What situation would result if Government expenditure exceeds the Government revenue on Current Account?

    (1) Deficit budgeting
    (2) Zero-based budgeting
    (3) Performance-based budgeting
    (4) Surplus budgeting
    Answer:
    347. (1) The excess of overall government expenditure both on capital and current account over the estimated government receipts both from tax and non-tax sources is termed as fiscal deficit. Fiscal deficit is a kind of budget deficit where government expenditure exceeds over its income during the course of a financial year.

    348. Disguised unemployment in India is mainly related to

    (1) Agricultural sector
    (2) Rural Area
    (3) Factory sector
    (4) Urban Area
    Answer:
    348. (1) Disguised unemployment exists where part of the labour force is either left without work or is working in a redundant manner where worker productivity is essentially zero. It is unemployment that does not affect aggregate output.When more people are engaged in a job than actually required, a state of disguised unemployment is created. Disguised, or hidden, unemployment is primarily found in the agricultural and the unorganized sectors of rural India.

    349. Securities and Exchange Board of India is a

    (1) Quasi Judicial body
    (2) Regulatory Body
    (3) Advisory Body
    (4) Consititutional Body
    Answer:
    349. (2) The Securities and Exchange Board of India (SEBI) is the designated regulatory body for the finance and investment markets in India. It was established in the year 1988 and given statutory powers on 30 January, 1992 through the SEBI Act, 1992. It is an autonomous body.

    350. The Kaushal Kendra (skilling center) under the Pradhan Mantri Mudra Yojana has been inaugurated in the city of ___

    (1) Noida 
    (2) Kolkata
    (3) Mumbai 
    (4) Hyderabad
    Answer:
    350. (1) Prime Minister Narendra Modi, on 5 April 2016, launched Stand Up India Scheme to promote entrepreneurship among Scheduled Caste/Scheduled Tribes and Women entrepreneurs. On this occasion, the Prime Minister also inaugurated a Kaushal Kendra (Skilling Center) under Pradhan Mantri Mudra Yojna in Noida, Uttar Pradesh.

    351. Which State Government has recently abolished “agriculture income tax”

    (1) Karnataka 
    (2) Rajasthan
    (3) Bihar 
    (4) Assam
    Answer:
    351. (1) Karnataka’s Chief Minister Siddaramaiah, in March 2016, made the announcement to abolish the tax on agricultural income while presenting the State Budget for 2016-17. This in turn will provide relief to many tea and coffee companies besides thousands of individual coffee growers. Plantation companies had to pay a 35 per cent tax on their net income.

    352. Which of the following is not a method of estimating national income?

    (1) Expenditure method
    (2) Output method
    (3) Matrix method
    (4) Income method
    Answer:
    352. (3) The national income of a country can be measured by three alternative methods: (i) Product Method (ii) Income Method, and (iii) Expenditure Method. l Product Method: In this method, national income is measured as a flow of goods and services; l Income Method: Under this method, national income is measured as a flow of factor incomes; l Expenditure Method: In this method, national income
    is measured as a flow of expenditure. 

    353. Project ‘Sankalp’ started for the purpose ________

    (1) To eradicate illiteracy
    (2) To eradicate Polio
    (3) To eliminate AIDS/HIV
    (4) To eliminate unemployment
    Answer:
    353. (3) In a bid to make AIDS prevention a mission, the Employees’ State Insurance Corporation of India (ESIC) announced the launch of ‘Project Sankalp’ for strengthening ESIC’s intervention on HIV/AIDS and Family welfare at Mangalore, Karnataka, on 17 August, 2008. It aimed at counselling and treatment to ESIC beneficiaries affected with HIV in the State. 

    354. Prime Minister’s ‘Ujjwala Yojana’ is related to

    (1) Free distribution of LPG connections to socially backward classes.
    (2) Free electric connections to members of Scheduled Castes and Scheduled Tribes.
    (3) Mass immunisation campaign for children.
    (4) None of the these
    Answer:
    354. (1) Pradhan Mantri Ujjwala Yojana is an ambitious social welfare scheme of Narendra Modi Government launched on 1 May, 2016 from Ballia in Uttar Pradesh. The scheme aims to provide LPG connections to BPL households in the country and, thus, replace the unclean cooking fuels mostly used in the rural India with the clean and more efficient LPG (Liquefied Petroleum Gas).

    355. Which of the following taxes is levied by the State Government only?

    (1) Wealth tax
    (2) Entertainment tax
    (3) Income tax
    (4) Gift tax
    Answer:
    355. (2) Entertainment tax is an indirect tax that is levied by the State Governments in India. it is levied on every financial transaction that is related to entertainment such as movie tickets, major commercial
    shows and big private festivals. Some other forms of entertainment that are included in the purview of entertainment taxes :
    l Amusement parks
    l Video games
    l Arcades
    l Exhibitions
    l Celebrity stage shows
    l Sports activities

    356. The rate at which RBI gives short term loan to commercial banks is called

    (1) Repo rate
    (2) Reverse Repo rate
    (3) Bank rate
    (4) Cash Reserve rate
    Answer:
    356. (1) The rate at which RBI gives short term loan to commercial banks against securities is known as Repo rate. A reduction in the repo rate helps banks to get money at a cheaper rate. When the repo rate increases, borrowing from the central bank becomes more expensive. In contrast, the reverse repo rate is the rate at which banks can park surplus funds with RBI.

    357. The nationalisation of major commercial banks took place in

    (1) 1947 
    (2) 1956
    (3) 1969 
    (4) 1980
    Answer:
    357. (3) The Government of India nationalized 14 major commercial banks in July 1969. This was followed by a second phase of nationalization in 1980, when Government of India acquired the ownership of 6 more banks, thus bringing the total number of nation-alised banks to 20.

    358. Kutir Jyoti Scheme is associated with

    (1) Promoting cottage industry in villages
    (2) Promoting employment among rural unemployed youth
    (3) Providing electricity to rural families living below poverty line
    (4) All of these
    Answer:
    358. (3) The Government launched Kutir Jyoti Programme on occasion of Nehru Centenary Year (1988-89) for extending single point light connection to the households of rural poor families below poverty line. These were to include Harijan and tribal families. The programme had come under criticism for rampant increase in transmission & distribution (T&D) losses.

    359. ’Stand up India’ scheme launched by the Prime Minister recently is related with

    (1) Promotion of entrepreneurship among SC, ST and Women
    (2) Promotion of rights of Divyangs
    (3) Promotion of compulsory education for women
    (4) Promotion of Indian exports in western countries
    Answer:
    359. (1) Standup India was launched by Prime Minister Narendra Modi on 5 April, 2016 to support entrepreneurship among women and SC & ST communities. The scheme offers bank loans of between Rs. 10 lakh and Rs. 1 crore for scheduled castes and scheduled tribes and women setting up new enterprises outside of the farm sector.

    360. Which of the following areas make the largest contribution to national income in India?

    (1) Industry 
    (2) Services
    (3) Agriculture
    (4) Mining
    Answer:
    360. (2) Assuming national income being measured as the Gross Domestic Product (GDP), the lion’s share in the national income of India is of the SERVICE sector (tertiary sector) which stands at 57% in 2013. India’s dynamic services sector has grown rapidly in the last decade with almost 72.4 per cent of the growth in India’s GDP in 2014-15 coming from this sector. (Source: Economic Survey 2015-16).

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