Indian Economy MCQ1

1. Consider the following statements: 1.Bulk of employment in India is in rural areas. 2.The disguised unemployment in agricultural sector is perennial. 3.Industrialization has rendered several people jobless in India. Which of the statement(s) given above is/are correct ? .
1 and 2
1 and 3
2 and 3
1, 2 and 3
2. Which is not one of the salient features of ‘Annapurna Scheme’?
It was launched by the Ministry of Consumer Affairs, Food and Public Distribution in 2000-2001.
The beneficiaries of the Scheme are indigent senior citizens of 65 years of age or above.
10 kg of food grains per month are supplied free of cost to the target group.
From 2002-2003, the scheme has been transferred to State Plan along with the National Social Assistance Programme.
3. Public Distribution System (PDS) means distribution of essential commodities to a large number of people through a network of Fair Price Shops on a recurring basis. The Commodities distributed under PDS are: (1) Wheat (2) Rice (3) Sugar (4) Pulses (5) Kerosene Select the correct option:
1 ,2 and 4
1, 2, 3 and 4
1, 2, 3 and 5
All of the above
4. In context of ‘Indira Awaas Yojana’, consider the following statements: (1) Indira Awaas Yojana seeks to provide shelter to rural BPL households. (2) Allotment under this housing scheme is made only in the name of the female member of the household. Which of the following is/are correct?
Only 1
Only 2
Both 1 and 2
Neither 1 nor 2
5. The Laffer curve is the graphical representation of :
The relationship between tax rates and absolute revenue these rates generate for the government.
The inverse relationship between the rate of unemployment and the rate of inflation in an economy.
The inequality in income distribution.
The relationship between environmental quality and economic development.
6. The government has powers under the Essential Commodities Act, 1955 (EC Act) to declare a commodity as an essential commodity to ensure its availability to people at fair price. The Commodities covered under the Act include : 1.Paper 2.Hank Yarn 3.Fertilizers 4.Petroleum and Petroleum Products 5.Cotton and Jute seeds
1, 2 and 3
1, 3 and 4
3, 4 and 5
2, 3, 4 and 5
7. The Non-Votable charges or ‘Charged Expenditure’ included in the Union Budget include : 1.Salary and Allowances of the Presiding Officers of the houses of Parliament. 2.Salary and Allowances of the Judges of the Supreme Court and High Courts. 3.Salary and Allowances of the CAG. 4.Pension of the retired Judges of the Supreme Court. 5.Pension of the retired Judges of High Courts. Select the option(s) which is/are correct?
1 and 2
1, 2 and 3
1, 2, 3 and 4
All of them
8. In context of the present ceiling on investment for categorization of various enterprises as Micro, Small and Medium Manufacturing Enterprises (MSMEs), which of the following statements are correct : 1.A micro enterprise is an enterprise where the investment in equipment does not exceed Rs.25 lakh. 2.A small enterprise is an enterprise where the investment in equipment is more than Rs.25 lakh but does not exceed Rs.5 crore. 3.A medium enterprise is an enterprise where the investment in equipment is more than Rs.5 crore but does not exceed Rs.10 crore.
Only 1
Only 2
Only 3
All of them
9. Consider the following statements: 1.The Direct Taxes Code proposes a Corporate rate tax of 30% as against the current effective rate of 33.2% 2.The Direct Taxes Code incorporates taxation mechanisms to deal with the international issue of ‘Transfer Pricing’. Which of the above statement(s) is/are correct?
Only 1
Only 2
Both 1 and 2
Neither 1 nor 2
10. Which of the following are among the taxes levied exclusively by the Central Government and are mentioned in the Union List of the Seventh Schedule of the Constitution of India? 1.Corporation Tax 2.Taxes on advertisement in the newspapers 3.Taxes on Agricultural income 4.Taxes on consumption/sale of electricity
Only 2
Only 4
1 and 2
3 and 4
Score =
Correct answers: