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GK Questions: Indian Economy – Set 11

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. CENVAT is a/an …………………………….
    1.Export Tax
    2.Import Tax
    3.Direct Tax
    4.Indirect Tax
    5.None of these
    Answer & Explanation
    Answer – 4.Indirect Tax
    Explanation :
    CENVAT as populary known as Central Excise Duty is a duty on the manufacture/production of goods in India.The regulatory body is the Central Board of Excise and Customs (CBEC) , an agency of the Department of Revenue, Ministry of Finance of India.

  2. A Trade Cycle consists of how many phases ?
    1.3
    2.6
    3.5
    4.4
    5.None of these
    Answer & Explanation
    Answer – 4.4
    Explanation :
    The trades cycle or business cycle are cyclical fluctuations of an economy. A full trade cycle has got four phases: (i) Recovery, (ii) Boom, (iii) Recession, and (iv) depression

  3. The Condition of indirect taxes in the country’s revenue is approximately ………..
    1.59%
    2.86%
    3.68%
    4.72%
    5.None of these
    Answer & Explanation
    Answer – 2.86%
    Explanation :
    The Condition of indirect taxes in the country’s revenue is approximately 86%

  4. SDR(Special Drawings Rights) related to ………………………….
    1.IMF
    2.World Bank
    3.RBI
    4.Government
    5.None of these
    Answer & Explanation
    Answer – 1.IMF
    Explanation :
    Special drawing rights (SDR) refer to an international type of monetary reserve currency, created by the International Monetary Fund (IMF) in 1969, which operates as a supplement to the existing reserves of member countries.

  5. Who has given Scarcity definitions of economics ?
    1.VM Dandekar
    2.Adam Smith
    3.Lionel Robbins
    4.J.B.Say
    5.None of these
    Answer & Explanation
    Answer – 3.Robbins
    Explanation :
    Robbins book ‘Nature and Significance of Economic Science’ (1932), there developed a fresh controversy in regard to the definition of economics. Lionel Robbins, after criticizing the definitions given by the Classical and Neo-classical economists, gave his own definition of Economics.

  6. Which age groups people eligible for training under TRYSEM scheme ?
    1.18-30years
    2.18-40years
    3.18-35 years
    4.18-28years
    5.None of these
    Answer & Explanation
    Answer – 3.18-35 years
    Explanation :
    1979 : Training Rural Youth for Self Employment TRYSEM (launched on 15th August) educational and vocational training for the people(18-35)years

  7. The Golden Quadrilateral of India connects which of the following places ?
    1.Delhi-Mumbai-Chennai-Kolkata
    2.Mumbai-Kolkata-Bangalore-Mysore
    3.Delhi-Hyderabad-Thiruvanandhapuram-Chennai
    4.Mumbai-Patna-Bangalore-Chennai
    5.None of these
    Answer & Explanation
    Answer – 1.Delhi-Mumbai-Chennai-Kolkata
    Explanation :
    India’s much-vaunted infrastructure project – the Golden Quadrilateral (GQ) highway network connecting Delhi, Mumbai, Kolkata and Chennai – is crawling to the finishing line, fourteen years after its launch.

  8. The Consumer Protection Act was enacted in ………………………
    1.1982
    2.1990
    3.1986
    4.1979
    5.None of these
    Answer & Explanation
    Answer – 3.1986
    Explanation :
    The Consumer Protection Act of 1986 was enacted in India for the following reasons -Provide more accessible protection for consumers

  9. ‘Nextzone’ an information technology SEZ is being established in which state ?
    1.Kerala
    2.Madhya Pradesh
    3.Gujarat
    4.Maharashtra
    5.None of these
    Answer & Explanation
    Answer – 4.Maharashtra
    Explanation :
    ‘Nextzone’ an information technology SEZ is being established in Maharashtra
    A Special Economic Zone (SEZ) is a geographical region that has economic laws that are more liberal than a country’s domestic economic laws. India has specific laws for its SEZs.

  10. ……………………….. is also known as green gold.
    1.Sugarcane
    2.Coffee
    3.Rice
    4.Tea
    5.None of these
    Answer & Explanation
    Answer – 4.Tea
    Explanation :
    Tea, literally known as ‘Green Gold’ would be money spinner soon with various schemes being launched by the state government under chief minister’s





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