Nature of Indian Economy

Nature of Indian Economy

Easy Questions
Moderate Questions
Difficult Questions

Indian Economy

Nature of Indian Economy
National Income in India
Planning in India
Population of India
Natural Resources of India
Infrastructure
Social Sectors
Agriculture
World Economy
Industry
Money
Banking
Public Finance
Foreign Trade
International Organisations
Centre-State Relations
Public Service Commission-1
Election Commission
Goods and Service Tax
Emergency Provisions
Constitutional Amendments
Order of Precedence
Indian economy miscellaneous
  1. Human Development Index comprises literacy rates, life expectancy at birth and








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    Human Development Report the HDI combines three dimensions.

    Correct Option: D

    Human Development Report the HDI combines three dimensions:
    A long and healthy life : Life expectancy at birth,
    Education index : Mean years of schooling and Expected years of schooling.
    A decent standard of living : GNI per capita (PPP US$).

  1. Fiscal deficit implies








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    Fiscal Deficit: When a government's total expenditure exceed the revenue that it generates (excluding money from borrowings). Deficit differs from debt, which is an accumulation of year deficits.

    Correct Option: A

    Fiscal Deficit: When a government's total expenditure exceed the revenue that it generates (excluding money from borrowings). Deficit differs from debt, which is an accumulation of year deficits.

  1. Which of the following is associated with fiscal policy?








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    Fiscal policy is the use of government revenue collection (taxation) and expenditure (spending) to influence the economy.

    Correct Option: B

    Fiscal policy is the use of government revenue collection (taxation) and expenditure (spending) to influence the economy. The two main instruments of fiscal policy are changes in the level and composition of taxation and government spending in various sectors.

  1. The Minimum Alternative Tax (MAT) introduced in the budget of the government was India for the year?








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    The Minimum Alternative Tax (MAT) was introduced for the first time in the Budget for the year 1996-97 Minimum alternate tax or MAT is a Tax levied on firms/ companies or limited liability partnership (LLPs) making abundant profits as well as distributing dividend to its shareholders who leveraging on the features of the Indian Taxation system do not contribute towards the government's taxation kitty.

    Correct Option: D

    The Minimum Alternative Tax (MAT) was introduced for the first time in the Budget for the year 1996-97 Minimum alternate tax or MAT is a Tax levied on firms/ companies or limited liability partnership (LLPs) making abundant profits as well as distributing dividend to its shareholders who leveraging on the features of the Indian Taxation system do not contribute towards the government's taxation kitty. Thus, for such corporate a minimal tax amounting to some fixed percentage of book profits i.e. profits according to accounting records is charged as minimal alternative tax (MAT).

  1. Which of the following is not correctly matched ?








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    Shikha Sharm - SIB

    Correct Option: D

    Shikha Sharm - SIB