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GK Questions: Indian Economy – Set 10

Hello Aspirants. Welcome to Online General Knowledge section in Affairs cloud, which is important for all the competitive exams. We have created Some questions related to Indian GK(Indian Economy) !!

  1. Who was the regulator of Chit Funds ?
    1.State Governments
    2.Central Governments
    3.RBI
    4.LIC
    5.None of these
    Answer & Explanation
    Answer – 1.State Governments
    Explanation :
    Chit funds in India are governed by the Chit Funds Act, 1982. Under this Act, the chit fund businesses can be registered and regulated only by the respective State Governments. Regulator of chit funds is the Registrar of Chits appointed by respective state governments under Section 61 of Chit Funds Act.

  2. Agricultural income tax is assigned to the state governments by ……………………
    1.Finance Minister
    2.Incometax Departments
    3.Planning Commission
    4.Finance Commission
    5.None of these
    Answer & Explanation
    Answer – 5.None of these
    Explanation :
    The constitution of India assigned the Agricultural income tax to the state governments.

  3. Which five year plan recognised human development efforts ?
    1.10th Five year plan
    2.8th Five year plan
    3.12th Five year plan
    4.5th Five year plan=
    5.None of these
    Answer & Explanation
    Answer – 2.8th Five year plan
    Explanation :
    8th Five year plan recognised human development efforts as the core of all development
    efforts.

  4. The Cabinet committee on Investments(CCI) has been established to approve the investments project which are larger than
    1.Rs.100cr
    2.Rs.500cr
    3.Rs.1000cr
    4.Rs.200cr
    5.None of these
    Answer & Explanation
    Answer – 3.Rs.1000cr
    Explanation :
    The Cabinet committee on Investments(CCI) has been established to approve the investments project which are larger than Rs.1000cr

  5. How many essential commodities are monitored by the Price Monitoring Cell(PMC) ?
    1.21
    2.32
    3.40
    4.22
    5.None of these
    Answer & Explanation
    Answer – 4.22
    Explanation :
    Price is monitored for twenty two essential commodities (Rice, Wheat, Atta, Gram Dal, Tur (Arhar) Dal, Urad Dal ,Moong Dal, Masur Dal, Sugar, Gur, Groundnut Oil, Mustard Oil, Vanaspati, Sunflower Oil, Soya Oil, Palm Oil, Tea, Milk, Potato, Onion, Tomato and Salt) based on data collected from 75 market centres spread across the country representing North, West, East, South and North-eastern regions of the country.

  6. ………………… scheme was launched with an objective of slum free India
    1.Antyodaya Anna Yojna
    2.Rajiv Awas Yojana
    3.Aam Aadmi Bima Yojana
    4.Swarnajayanti Gram Swarozgar Yojana
    5.None of these
    Answer & Explanation
    Answer – 2.Rajiv Awas Yojana
    Explanation :
    Rajiv Awas Yojana (RAY) is a new scheme announced by the President earlier in 2009, focuses on slum dwellers and the urban poor.

  7. The Minimum Alternate Tax(MAT) was introduced in
    1.2000
    2.1985
    3.1999
    4.1996
    5.None of these
    Answer & Explanation
    Answer – 4.1996
    Explanation :
    The concept of  MAT was introduced under the Income Tax. Act, 1961. MAT was introduced for companies and progressively it has been made applicable to all other taxpayers in the form of AMT.

  8. Too much import of which commodity by India adversely affects Trade Balance and Current Account Balance ?
    1.Maize
    2.Rice
    3.Gold
    4.Milk
    5.None of these
    Answer & Explanation
    Answer – 3.Gold
    Explanation :
    CAD ( Current account Deficit) and Trade Balance adversely affected by too much import of Gold.
    It is made up of different factors(please refer some textbook for the exact factors, basically its the sum of (total income of the country)-(total expenditure of the country ) = most of the time its negative because of the high amount of Oil and Gold import.

  9. The Viability Gap Funding Scheme is administered by the ………………….
    1.Ministry of Rural Development
    2.Ministry of Human Resource Development
    3.Ministry of Home Affairs
    4.Ministry of Finance
    5.None of these
    Answer & Explanation
    Answer – 4.Ministry of Finance
    Explanation :
    Government of India has notified a scheme for Viability Gap Funding to infrastructure projects that are to be undertaken through Public Private Partnerships. It will be a Plan Scheme to be administered by the Ministry of Finance with suitable budgetary provisions to be made in the Annual Plans on a year-to- year basis.

  10. Which data are released in India on monthly basics ?
    1.CPI
    2.WPI
    3.IIP
    4.All of these
    5.None of these
    Answer & Explanation
    Answer – 4.All of these
    Explanation :
    CPI,WPI  and IIP are released in India on monthly basics.
    The WPI measures the price of a representative basket of wholesale goods.WPI captures price movements in a most comprehensive way.
    Index of Industrial Production (IIP) measures the quantum of changes in the industrial production in an economy
    Consumer Price Index in India(CPI) is a measure of change in retail prices of goods and services consumed by defined population group in a given area with reference to a base year.





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