Nature of Indian Economy

Nature of Indian Economy

Easy Questions
Moderate Questions
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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. 'Based III' norms target at which of the following?
    (1) Improve the banking sector's ability to absorb shocks arising from financial and economic stress.
    (2) Improve risk management and governance.
    (3) Strengthen banks' transparency.
    Choose the correct answer using the codes given below :








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    Basel III (or the Third Basel Accord) is a global, voluntary regulatory standard on bank capital adequacy, stress testing and market liquidity risk . So all the given statements are correct.

    Correct Option: D

    Basel III (or the Third Basel Accord) is a global, voluntary regulatory standard on bank capital adequacy, stress testing and market liquidity risk . So all the given statements are correct.

  1. Which of the following will not be the part of 'financial inclusion'?
    (1) Opening educational centres
    (2) Opening wealth management centers by Citibank.
    (3) Eradication of poverty.
    (4) Report of Khan commission on financial inclusion.
    Select the correct answer using the codes given below:








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    Financial Indian inculcation is the delivery of financial services, at affordable costs, to section of disadvantaged and low income segments of society. It includes opening educational centers, opening wealth management centres by Citibank etc. Khan commission had put forward its report on financial inclusion

    Correct Option: B

    Financial Indian inculcation is the delivery of financial services, at affordable costs, to section of disadvantaged and low income segments of society. It includes opening educational centers, opening wealth management centres by Citibank etc. Khan commission had put forward its report on financial inclusion

  1. Consider the following the statements in regard to the goods and service tax:
    (1) The GST shall have two components : one levied by the central, and the other levied by the states.
    (2) The central GST and state GST are to be paid to the joint accounts of the center and the states.
    (3) While the imports would be zero-rated, the exports would be subjected to the GST.
    Which of the above statements is/are correct?








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    The Goods and Services Tax (GST) is a Value Added Tax (VAT) replacing all indirect taxes levied on goods and services by the Indian Central and State governments. India is a federal republic, and the GST is thus implemented concurrently by the central and state governments as the Central GST and the State GST respectively. Exports will be zero-rated and imports will be levied the same taxes as domestic goods and services adhering to the destination principle.

    Correct Option: A

    The Goods and Services Tax (GST) is a Value Added Tax (VAT) replacing all indirect taxes levied on goods and services by the Indian Central and State governments. India is a federal republic, and the GST is thus implemented concurrently by the central and state governments as the Central GST and the State GST respectively. Exports will be zero-rated and imports will be levied the same taxes as domestic goods and services adhering to the destination principle.

  1. In India rural incomes are generally lower than the urban incomes Which of the following reasons account for this?
    (1) A large number of farmers are illiterate and know little about scientific- agriculture.
    (2) Prices of primary products are lower than those of manufactured products.
    (3) Investment in agriculture has been lower when compared to investment in industry :








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    In India a large number of farmers are illiterate and know little about scientific-agriculture, prices of primary products are lower than those of manufactured products and Investment in agriculture, has been lower when compared to investment in industry. All these reasons are responsive for lower rural income.

    Correct Option: A

    In India a large number of farmers are illiterate and know little about scientific-agriculture, prices of primary products are lower than those of manufactured products and Investment in agriculture, has been lower when compared to investment in industry. All these reasons are responsive for lower rural income.

  1. Which of the following should be considered for 'Pigovian taxation'?
    (1) Consumption of cigarettes
    (2) Research for new technologies
    (3) Burning of fossil fuels
    (4) Restoration of lost cultural heritage
    Choose the correct answer using the codes given below :








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    A Pigovian tax is a tax applied to a market activity that is generating negative externalities (costs for somebody else) like cigarette consumption, burning of fossil fuel.

    Correct Option: A

    A Pigovian tax is a tax applied to a market activity that is generating negative externalities (costs for somebody else) like cigarette consumption, burning of fossil fuel.