Q. Which of the following is the tax levied by the Central Government?

 ◉ Income tax

❌ Incorrect

 ◉ corporation fee

❌ Incorrect

 ◉ All of the above

✅ Correct

 ◉ Custom duty

❌ Incorrect

Q. Who imposes sales tax?

 ◉ Village Panchayat

❌ Incorrect

 ◉ All of the above

❌ Incorrect

 ◉ Central government

❌ Incorrect

 ◉ State government

✅ Correct

Q. Which of the following are indirect taxes?

 ◉ All of the above

✅ Correct

 ◉ production fee

❌ Incorrect

 ◉ Custom duty

❌ Incorrect

 ◉ shore duty

❌ Incorrect

Q. Which of the following is the tax levied by the state government?

 ◉ entertainment tax

❌ Incorrect

 ◉ land revenue tax

❌ Incorrect

 ◉ All of the above

✅ Correct

 ◉ Road toll

❌ Incorrect

Q. What type of tax is VAT?

 ◉ Prima facie

❌ Incorrect

 ◉ Both 'A' and 'B'

❌ Incorrect

 ◉ none of the above

❌ Incorrect

 ◉ indirect

✅ Correct

Q. When was VAT implemented in India?

 ◉ 38074

❌ Incorrect

 ◉ 38443

✅ Correct

 ◉ 38078

❌ Incorrect

 ◉ 38442

❌ Incorrect

Q. VAT was implemented in India on the recommendation of which of the following committees?

 ◉ Kelkar Committee

❌ Incorrect

 ◉ Rang Rajan Committee

❌ Incorrect

 ◉ Parthasarathy Shome Committee

❌ Incorrect

 ◉ Ale. Of. Jha Committee

✅ Correct

Q. Which of the following is a direct tax?

 ◉ service tax

❌ Incorrect

 ◉ Corporation tax

✅ Correct

 ◉ coast tax

❌ Incorrect

 ◉ advertising tax

❌ Incorrect

Q. The chairman of the 12th Finance Commission is -

 ◉ N. K.P. Salve

❌ Incorrect

 ◉ a. M. Mukherjee

❌ Incorrect

 ◉ C. Rangarajan

✅ Correct

 ◉ k. C. Pant

❌ Incorrect

Q. The 12th Finance Commission has recommended what percentage of central taxes for the states?

 ◉ 0.325

❌ Incorrect

 ◉ 0.34

❌ Incorrect

 ◉ 0.33

❌ Incorrect

 ◉ 0.305

✅ Correct

Q. The first bank operated by Indians with committee dues was -

 ◉ Punjab National Bank

❌ Incorrect

 ◉ Avadh Commercial Bank

✅ Correct

 ◉ Imperial Bank

❌ Incorrect

 ◉ reserve Bank

❌ Incorrect

Q. When was the Reserve Bank of India established?

 ◉ 12875

✅ Correct

 ◉ 12479

❌ Incorrect

 ◉ 17395

❌ Incorrect

 ◉ 18289

❌ Incorrect

Q. Presently the total number of nationalized banks is –

 ◉ 17

❌ Incorrect

 ◉ 20

❌ Incorrect

 ◉ 18

❌ Incorrect

 ◉ 19

✅ Correct

Q. Currency note press is located at -

 ◉ Hoshangabad

❌ Incorrect

 ◉ Nashik

✅ Correct

 ◉ Hyderabad

❌ Incorrect

 ◉ Patna

❌ Incorrect

Q. When was State Bank of India nationalized?

 ◉ 20546

❌ Incorrect

 ◉ 17899

❌ Incorrect

 ◉ 20271

✅ Correct

 ◉ 18289

❌ Incorrect

Q. The headquarters of the Reserve Bank of India is at -

 ◉ Chennai

❌ Incorrect

 ◉ Mumbai

✅ Correct

 ◉ Kolkata

❌ Incorrect

 ◉ New Delhi

❌ Incorrect

Q. When was the Life Insurance Corporation of India established?

 ◉ 21125

❌ Incorrect

 ◉ 21186

❌ Incorrect

 ◉ 21610

❌ Incorrect

 ◉ 20699

✅ Correct

Q. Which of the following institutions controls the stock market?

 ◉ U.T.I

❌ Incorrect

 ◉ reserve Bank

❌ Incorrect

 ◉ SEBI

✅ Correct

 ◉ Finance Ministry

❌ Incorrect

Q. The index of Mumbai Stock Exchange is –

 ◉ simex

❌ Incorrect

 ◉ nikki

❌ Incorrect

 ◉ da jones

❌ Incorrect

 ◉ Sensex

✅ Correct

Q. Where is the headquarter of Small Industries Development Bank of India (SIDBI) located?

 ◉ in Mumbai

❌ Incorrect

 ◉ in Lucknow

✅ Correct

 ◉ in New Delhi

❌ Incorrect

 ◉ in Kanpur

❌ Incorrect

Q. Narasimham committee is related to –

 ◉ Restructuring of Regional Rural Banks

❌ Incorrect

 ◉ from national income

❌ Incorrect

 ◉ banking reform

✅ Correct

 ◉ tax reform

❌ Incorrect

Q. The words "Bull" and "Bear" are related to -

 ◉ industrial reform

❌ Incorrect

 ◉ banking reform

❌ Incorrect

 ◉ from the stock market

✅ Correct

 ◉ From small scale industry and cottage industry

❌ Incorrect

Q. How many times has the Indian rupee been devalued since independence?

 ◉ 5

❌ Incorrect

 ◉ 3

✅ Correct

 ◉ 2

❌ Incorrect

 ◉ 4

❌ Incorrect

Q. The organization providing finance for agriculture and rural development in the country is -

 ◉ NABARD

✅ Correct

 ◉ Cooperative bank

❌ Incorrect

 ◉ regional bank

❌ Incorrect

 ◉ Land Development Bank

❌ Incorrect

Q. The first nationalization of banks in India was done on July 19, 1969. How many banks were nationalized during this time?

 ◉ 18

❌ Incorrect

 ◉ 14

✅ Correct

 ◉ 19

❌ Incorrect

 ◉ 11

❌ Incorrect

Q. The population divide decade in India is considered to be -

 ◉ 1971–1981

❌ Incorrect

 ◉ 1901–1911

❌ Incorrect

 ◉ 1951–1961

❌ Incorrect

 ◉ 1911–1921

✅ Correct

Q. According to the 2001 census, the total population of India was-

 ◉ 1.04 billion

❌ Incorrect

 ◉ 1.02 billion

✅ Correct

 ◉ 1.6 billion

❌ Incorrect

 ◉ 1.0 billion

❌ Incorrect

Q. What was the decadal growth rate of population in India between 1991-2001 AD?

 ◉ 0.2067

❌ Incorrect

 ◉ 0.2387

❌ Incorrect

 ◉ 0.2154

✅ Correct

 ◉ 0.225

❌ Incorrect

Q. According to the 2001 census, the number of males (sex ratio) per 1000 females in India is -

 ◉ 931

❌ Incorrect

 ◉ 935

❌ Incorrect

 ◉ 933

✅ Correct

 ◉ none of the above

❌ Incorrect

Q. In which of the following states, the maximum number of Scheduled Tribes reside?

 ◉ Chhattisgarh

❌ Incorrect

 ◉ Odisha

❌ Incorrect

 ◉ Madhya Pradesh

✅ Correct

 ◉ Jharkhand

❌ Incorrect

Q. In which state of India female literacy is minimum?

 ◉ Sikkim

❌ Incorrect

 ◉ Bihar

✅ Correct

 ◉ Odisha

❌ Incorrect

 ◉ Rajasthan

❌ Incorrect

Q. Which state has the maximum number of poor in India?

 ◉ Odisha

❌ Incorrect

 ◉ Uttar Pradesh

✅ Correct

 ◉ bihar

❌ Incorrect

 ◉ Rajasthan

❌ Incorrect

Q. According to the 2001 census, what was the literacy rate of India?

 ◉ 0.632

❌ Incorrect

 ◉ 0.6224

❌ Incorrect

 ◉ 0.659

❌ Incorrect

 ◉ 0.648

✅ Correct

Q. The Economic Survey in India is officially published by -

 ◉ by the Ministry of Finance

✅ Correct

 ◉ by finance commission

❌ Incorrect

 ◉ by Karpat

❌ Incorrect

 ◉ by planning commission

❌ Incorrect

Q. Who finally approves the five year plans of India?

 ◉ Planning Commission

❌ Incorrect

 ◉ Parliament

❌ Incorrect

 ◉ National Development Council

✅ Correct

 ◉ President

❌ Incorrect

Q. Which is the largest commercial bank of the country?

 ◉ state Bank of India

✅ Correct

 ◉ reserve Bank of India

❌ Incorrect

 ◉ HDFC Bank

❌ Incorrect

 ◉ I.C.I.C.I.

❌ Incorrect

Q. The largest item of expenditure in the current account of the Central Government's budget is -

 ◉ interest payment

✅ Correct

 ◉ subsidy to farmers

❌ Incorrect

 ◉ spending on social services

❌ Incorrect

 ◉ defense spending

❌ Incorrect

Q. According to the year 2001, what was the annual growth rate in the population of India?

 ◉ 0.0195

✅ Correct

 ◉ 0.0224

❌ Incorrect

 ◉ 0.012

❌ Incorrect

 ◉ 0.0217

❌ Incorrect

Q. The central government receives maximum net revenue from –

 ◉ income tax

❌ Incorrect

 ◉ from excise duty

✅ Correct

 ◉ from agriculture

❌ Incorrect

 ◉ toll

❌ Incorrect

Q. are included in the Human Development Index.

 ◉ level of education

❌ Incorrect

 ◉ per capita income

❌ Incorrect

 ◉ life literacy

❌ Incorrect

 ◉ All of the above

✅ Correct

Q. Mixed economy means-

 ◉ Coexistence of urban and rural industries

❌ Incorrect

 ◉ Coexistence of large, small and cottage industries

❌ Incorrect

 ◉ Simultaneous growth of industry and agriculture

❌ Incorrect

 ◉ coexistence of public and private industries

✅ Correct

Q. Primary sectors of the economy include -

 ◉ agriculture

❌ Incorrect

 ◉ Excavation

❌ Incorrect

 ◉ all these

✅ Correct

 ◉ Forest

❌ Incorrect

Q. In the economy are included under the second sector -

 ◉ all these

✅ Correct

 ◉ Electricity

❌ Incorrect

 ◉ iron Steel

❌ Incorrect

 ◉ gas

❌ Incorrect

Q. The relation of the third sector in the economy is -

 ◉ Business

❌ Incorrect

 ◉ transportation

❌ Incorrect

 ◉ Postal Service

❌ Incorrect

 ◉ all these

✅ Correct

Q. Which sector of the economy is called the service sector?

 ◉ quartile

❌ Incorrect

 ◉ third

✅ Correct

 ◉ Second

❌ Incorrect

 ◉ primary

❌ Incorrect

Q. Who first estimated the national income in India?

 ◉ Arvind Ghosh

❌ Incorrect

 ◉ Dada Bhai Naoroji

✅ Correct

 ◉ Ramesh Dutt Mazumdar

❌ Incorrect

 ◉ Visvesvaraya

❌ Incorrect

Q. Who does the work of calculating national income in India?

 ◉ Planning Commission

❌ Incorrect

 ◉ central statistical organization

✅ Correct

 ◉ national statistical organization

❌ Incorrect

 ◉ Reserve Bank of India

❌ Incorrect

Q. The base year for the calculation of national income is -

 ◉ 1993–94

❌ Incorrect

 ◉ 1999-2000

✅ Correct

 ◉ none of the above may

❌ Incorrect

 ◉ 1970–71

❌ Incorrect

Q. To whom is the credit of scientific calculation of national income in India?

 ◉ Pro. V.K. R. V. Rao

✅ Correct

 ◉ Pro. Dr. Gadgil

❌ Incorrect

 ◉ P.C. Mahalanobis

❌ Incorrect

 ◉ Pro. Dr. Gadgil

❌ Incorrect

Q. What is India Vision-2020?

 ◉ Vision document prepared by the Planning Commission with the aim of making India a developed nation by 2020 AD

✅ Correct

 ◉ Dr. A. PJ autobiography of abdul kalam

❌ Incorrect

 ◉ none of the above

❌ Incorrect

 ◉ Finance Commission's Statement of Assistance to the States by the Center till 2020 AD

❌ Incorrect

  Last update :  Tue 28 Jun 2022
  Post Views :  6570
  Post Category :  GK Quizzes Other