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Indian Economy - General Knowledge Multiple Choice Questions and Answers | Page-3

Questions
21 Gross Domestic Product is defined as the value of all
A Goods produced in an economy in a year
B Goods and services produced in an economy in a year
C Final goods produced in an economy in a year
D Final goods and services produced in an economy in a year

Answer: Option [D]
22 Which is the biggest tax paying sector in India?
A Banking sector
B Transport sector
C Industrial sector
D Agriculture sector

Answer: Option [C]
23 The abbreviation ‘SEBI’ stands for
A Survey of essential business in India
B Savings and Exchange Bank of India
C Securities and Exchange Bank of India
D Securities and Exchange Board of India

Answer: Option [D]
24 The Annapurna Scheme was implemented in the year
A 1998
B 2000
C 2004
D 2004

Answer: Option [B]
25 Which of the following is not a part of national income?
A Rent
B Profits
C Wages and Salaries
D Interest on national debt

Answer: Option [A]
26 To achieve economic self-reliance was the main objective of which Five Year Plan?
A First Five Year Plan
B Second Five Year Plan
C Third Five Year Plan
D Fourth Five Year Plan

Answer: Option [D]
27 Commercial banking system in India is
A Branch banking
B Mixed banking
C Unit banking
D None of these

Answer: Option [A]
28 Which of the following is the largest employer in India?
A Steel Authority of India
B Indian Railways
C Food Corporation of India
D Posts and Telegraphs Department

Answer: Option [B]
29 In Centre-State Financial relations in India, Gadgil Formula is used in
A Division of tax revenue
B Writing off States indebtedness to the Centre
C Formulating the policy for fresh borrowings
D Allocating Central Plan assistance between States

Answer: Option [A]
30 The most important source of revenue for the states in India is
A Excise duties
B Income tax
C Sales tax
D Corporation tax

Answer: Option [C]

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