Indian Economy MCQs - General Knowledge Questions and Answers for UPSC Exam | Page-3

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21 ‘Pradhan Mantri Jan- Dhan Yojana’ has been launched for
A Promoting financial inclusion in the country
B promoting women’s Self- Help Groups in backward areas
C Providing financial help to the marginalized communities
D providing housing loan to poor people at cheaper interest rates

Answer: Option [A]
22 Convertibility or rupee implies
A being able to convert rupee notes into gold
B allowing the value of rupee to be fixed by market forces
C developing an international market for currencies in India
D freely permitting the conversion of rupee to other currencies and vice versa

Answer: Option [D]
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23 Which one of the following is the correct statement? Service tax is a/ an:
A indirect tax levied by the State Government.
B direct tax levied by the State Government.
C indirect tax levied by the Central Government.
D direct tax levied by the Central Government.

Answer: Option [C]
24 Economic liberalization in India started with:
A the convertibility of India rupee
B significant reduction in tax rates
C substantial changes in industrial licensing policy
D doing away with procedural formalities for foreign direct investment

Answer: Option [C]
25 Agriculture income tax is assigned to the State Government by:
A Inter-State Council
B Finance Commission
C National Development Council
D The Constitution of India

Answer: Option [D]
26 Sometime back, the Government of India, decided to de-license ‘white goods’ industry. ‘white goods’ include:
A milk and milk products
B stainless steel and aluminium utensils
C items purchased for conspicuous consumption
D soaps, detergents and other mass consumption goods

Answer: Option [C]
27 Which one of the following committees recommended the abolition of reservation of items for small scale sector in industry?
A Abid Hussian Committee
B Narasimham Committee
C Nayak Committee
D Rakesh Mohan Committee

Answer: Option [A]
28 Which one of the following is not a feature of Limited Liability Partnership firm?
A Partners should be less than 20
B Partnership and management need not be separate
C It is corporate body with perpetual succession
D Internal governance may be decided by mutual agreement among partners

Answer: Option [A]
29 Which one among the following industries is the maximum consumer of water in India?
A Thermal power
B Textiles
C Paper and pulp
D Engineering

Answer: Option [C]
30 In the ‘Index of Eight Core Industries’, which one of the following is given the highest weight?
A Coal production
B Steel production
C Electricity generation
D Fertilizer production

Answer: Option [C]

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