Indian Economy GK For Assam Agriculture, PNRD, Assam Police & SSC Exam (Part-5)

Indian Economy 

For Assam Agriculture, PNRD, Assam Police, Forest, DECT, Railway & SSC Exam (Part-5)

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1. The national income of a country is ?

(a) Government annual revenue
(b) Total productive income
(c) Surplus of the public sector enterprise
(d) Export—(Loan) Import

Answer:- (b) Total productive income

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2. Under the minimum reserve system, the Reserve Bank of India as the sole authority of note issue is required to maintain assets worth not less than?

(a) 115 crores of rupees
(b) 85 crores of rupees
(c) 200 crores of rupees
(d) 210 crores of rupees

Answer:- (c) 200 crores of rupees

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3. Which amidst the following taxes collected by the Union is NOT mandated to be assigned to the States?

(a) Terminal taxes on goods or passengers carried by railway, sea or air.
(b) Taxes on railway fares and freights.
(c) Taxes on consignment of goods.
(d) Service Tax.

Answer:- (d) Service Tax.

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4. Currency notes of Rs. 2 denomination and above are liabilities of ?

(a) Government of India
(b) Reserve Bank of India
(c) State Bank of India
(d) All of the above

Answer:- (b) Reserve Bank of India

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5. The type of note issue system followed in India is ?

(a) Maximum fiduciary system
(b) Minimum reserve system
(c) Proportional fiduciary system
(d) Fixed fiduciary system

Answer:- (b) Minimum reserve system

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6. Inflation is caused by ?

(a) Increase in supply of goods
(b) Increase in cash with the government
(c) Decrease in money supply
(d) Increase in money supply

Answer:- (d) Increase in money supply

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7. What is the revised upper limit for foreign direct investment in telecom service companies ?

(a) 49 per cent
(b) 51 per cent
(c) 100 per cent
(d) 74 per cent

Answer:- (c) 100 per cent

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8. Which from the following is not true when the interest rate in the economy goes up ?

(a) Savings increases
(b) Lending decreases
(c) Cost of production increases
(d) Return on capital increases

Answer:- (d) Return on capital increases

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9. Open market operation refers to?

(a) borrowing by commercial banks from the R.B.I.
(b) lending by scheduled banks to non-scheduled banks
(c) purchase and sale of Government securities by the R.B.I.
(d) purchase and sale of bonds and securities by the Central Govt.

Answer:- (c) purchase and sale of Government securities by the R.B.I.

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10. Which is the first Public Sector Corporation of independent India?

(a) Hindustan Steel Corporation, Bhilai
(b) State Trading Corporation of India
(c) Food Corporation of India
(d) Damodar Valley Corporation

Answer:- (d) Damodar Valley Corporation

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