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Indian Economy MCQ Questions and answers for practice | GK

Learn and practice General Knowledge questions and answers on Indian Economy with very easy and understandable explanations. GK questions are very helpful different type of competitive exams. Page-1 section-2

Each section contains 100 MCQs on Indian Economy .
1
Which of the following items would not appear in a company's balance sheet?
Discuss
Answer & Solution
Answer: Option C
Solution:
Revenue from sales of the company's products would not appear in a company's balance sheet.
2
The currency convertibility concept in its original form originated in
Discuss
Answer & Solution
Answer: Option B
Solution:
The currency convertibility concept in its original form originated in Bretton Woods Agreement.
3
In the state of India, the State Financial Corporation have given assistance mainly to develop
Discuss
Answer & Solution
Answer: Option D
Solution:
In the state of India, the State Financial Corporation have given assistance mainly to develop medium and small-scale industries.
4
The central co-operative banks are in direct touch with
Discuss
Answer & Solution
Answer: Option B
Solution:
The central co-operative banks are in direct touch with State Co-operative Banks.
5
The first wholly Indian Bank was set up in
Discuss
Answer & Solution
Answer: Option B
Solution:
Allahabad bank is the 1st wholly old Indian bank. The first bank in India is Hindustan bank of India in 1894, Calcutta which earlier name of state bank of India.
6
States earn maximum revenue through
Discuss
Answer & Solution
Answer: Option C
Solution:
States earn maximum revenue through commercial taxes.
7
Our financial system has provided for the transfer of resources from the centre to the states; the important means of resource transfers are
Discuss
Answer & Solution
Answer: Option D
Solution:
Our financial system has provided for the transfer of resources from the centre to the states; the important means of resource transfers are tax sharing, grant-in-aids and loans.
8
Debenture holders of a company are its
Discuss
Answer & Solution
Answer: Option B
Solution:
Debenture holders of a company are its creditors.
9
Excise duty is a tax levied on the
Discuss
Answer & Solution
Answer: Option C
Solution:
Excise duty refers to the taxes levied on the manufacture of goods within the country, as opposed to custom duty that is levied on goods coming from outside the country.
10
In pursuance with the recommendations of Narsimham Committee, the RBI has framed new guidelines
Discuss
Answer & Solution
Answer: Option A
Solution:
In pursuance with the recommendations of Narsimham Committee, the RBI has framed new guidelines to govern entry of new private sector banks to make the banking sector more competitive.