Indian Economy MCQ Practice Set – Series 3


11) After 1991, the Central Government implemented various far-reaching reforms in the area of taxation. This was based on the recommendations of the:

(a) Wanchoo Committee

(b) Rajah Chelliah Committee

(c) Raj Committee

(d) Narsimhan Committee

View Answer
Option – b)


12) In India, the service tax was first introduced in the year:

(a) 1998

(b) 1996

(c) 1994

(d) 1992

View Answer
Option – c)


13) CENVAT is associated with:

(a) rate of indirect tax

(b) rate of income tax

(c) rate of direct tax

(d) none of the above

View Answer
Option – a)


14) With reference to Indian economy, consider the following statements:

1. The Gross Domestic Product (GDP) has increased by four times in the last 10 years.

2. The percentage share of Public Sector in GDP has declined in the last 10 years.

Which of the statements given above is/are correct?

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 nor 2

View Answer
Option – b)


16) Which part of separated UTI is under SEBl’s regulation?

(a) UTI-I

(b) UTI-II

(c) Both the above

(d) None of the above

View Answer
Option – b)


17) Which organization promotes the foreign trade?

(a) ECGC

(b) MMTC

(c) STC

(d) All of these

View Answer
Option – d)


18) The headquarters of IMF and World Bank are located at :

(a) Geneva and Montreal

(b) Geneva and Vienna

(c) New York and Geneva

(d) Both Washington DC

View Answer
Option – d)


19) More than one-third of the crude steel production of the world comes from

(a) China

(b) Japan

(c) Russia

(d) U.S.A.

View Answer
Option – a)


20) Who is the originator of Green Revolution in India?

(a) Norman E. Borlaug

(b) M.S. Swaminathan

(c) Garry Backer

(d) None of these

View Answer
Option – a)