Indian Economy previous years question MCQ UPSC / SSC / competitive exams

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61 .Convertibility of the rupee implies:
A.  allowing the value of the rupee to be fixed by market forces
B.  freely permitting the conversion of rupee to other major currencies and vice versa
C.  developing an international market for currencies in India
D.  being able to convert rupee notes into gold
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62 .The Minimum Needs Programme aims to:
A.  None of these
B.  improve the living condition of the poor and also promote their education and health
C.  provide means for greater mechanization of agriculture
D.  provide necessary resources by way of refinance to primary lenders
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63 .Taxation and the government's expenditure policy are dealt under the :
A.  fiscal policy
B.  monetary policy
C.  trade policy
D.  budget
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64 .MODVAT is different from VAT in the sense that:
1. under MODVAT, tax is levied only on value addition while under VAT, excise is imposed on final value and then rebate is given on inputs
2. MODVAT is only at the production stage while VAT extends both to production and distribution stage
3. under MODVAT, excise is levied on final value and then rebate is given on inputs while under VAT, tax is levied only on value addition
4. MODVAT implies nationalization of excise duty only while VAT implies nationalization of excise, sales and turnover taxes etc. also Choose correct answer from:
A.  2, 3 and 4
B.  1, 2 and 4
C.  1, 3 and 4
D.  1, 2, 3 and 4
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65 .What are gilt-edged securities?
A.  Securities issued by the private sectors
B.  Securities issued by the multinationals
C.  Securities issued by the joint venture companies
D.  Securities issued by the government
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66 .Which of the following is not an affiliate of the Reserve Bank of India?
A.  The Industrial Development Bank of India
B.  Agricultural Refinance Corporation
C.  Unit Trust of India
D.  Deposit Insurance Corporation
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67 .Which one of the following statements is correct? Fiscal Responsibility and Budget Management Act (FRBMA) concerns
A.  neither fiscal deficit nor revenue deficit
B.  revenue deficit only
C.  fiscal deficit only
D.  both fiscal and revenue deficit
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68 .Ever greening of patents is done by
A.  citing another use of the same product
B.  citing another product with same use
C.  applying for extension of patent term
D.  citing another process of forming the same product
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69 .Which of the following accounts for Cost-Push Inflation?
A.  Increase in population
B.  Increase in money supply
C.  Increase in non-plan expenditure
D.  Increase in indirect taxation
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70 .Present Industrial policy in India aims at :
A.  promoting the private sector units
B.  discourage the performance of the private sector
C.  increasing the production of public sector units
D.  accelerating the performance of mixed economy
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71 .During which Five Year Plan was the total expenditure on agriculture the highest?
A.  Third Five Year Plan
B.  Fourth Five Year Plan
C.  Second Five Year Plan
D.  First Five Year Plan
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72 .National Income total reveals:
1. Production side of the economy
2. Distribution side of the economy
3. Expenditure side of the economy
Choose your answer from

A.  2 only
B.  1, 2 and 3
C.  3 only
D.  1 only
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73 .Which one among the following is not true for Special Economic Zones?
A.  No permission for subcon- tracting
B.  No licence is required for import
C.  Manufacturing and service activities are allowed
D.  No routine examination of cargo for export/import by customs authorities
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74 .Cyclical unemployment refers to:
A.  seasonal unemployment
B.  unemployment during recessionary phase of a trade cycle
C.  disguised unemployment
D.  voluntary unemployment
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75 .Consider the following statements:
1. The repo rate is the rate at which other banks borrow from the Reserve Bank of India.
2. A value of 1 for Gini Coefficient in a country implies that there is perfectly equal income for everyone in its population.
Which of the statements giver, above is/are correct?
A.  2 only
B.  1 only
C.  Both 1 and 2
D.  Neither 1 nor 2
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