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. Which of the following is are the functions of the national Development Council of India ?
    (1) To prescribe guidelines for preparation of the national economic plan,
    (2) To review the working of the national economic plan from time to time,
    (3) To consider important questions of social and economic policy affecting national development .
    Select the correct answer using the codes given below ?








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    The National Development Council (NDC) or the Rashtriya Vikas Parishad is the apex body for decision making and deliberations on development matters in India, Presided over by the prim Minister.

    Correct Option: D

    The National Development Council (NDC) or the Rashtriya Vikas Parishad is the apex body for decision making and deliberations on development matters in India, Presided over by the prim Minister. The functions of the Council are to prescribe guidelines for the formulation of the National plan; to consider the National Commission; to consider important questions of social and economic policy affecting national development and to review the working of the Plan from time to time and to recommend such measures as are necessary for achieving the aims and targets set out in the National Plan.

  1. Consider the following statements .
    (1) Fiat money is a term used for Gold coins
    (2) Currency Deposits Ratio is the proportion of the total deposits commercial banks keep as reserves.
    Which of the above statements is/are correct?








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    Currency notes and coins are called fiat money. They don't have intrinsic value like a gold or silver coin. The currency-deposit ratio measures the relationship between the cash people have on hand and what they have in their accounts.

    Correct Option: D

    Currency notes and coins are called fiat money. They don't have intrinsic value like a gold or silver coin. The currency-deposit ratio measures the relationship between the cash people have on hand and what they have in their accounts.

  1. Consider the following systems :
    (1) Introduction of portfolio system in the Executive.
    (2) Establishment of a Federal public service commission.
    (3) Separation of provincial budgets from the central budget for the first time.
    Which of the systems given above was/were provided by the government of India, Act 1935 ?








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    The limited advisory function accorded to the Public Service Commission and the continued stress on this aspect by the leaders of our freedom movement resulted in the setting up of a Federal Public Service Commission under the Government of India Act, 1935.

    Correct Option: B

    The limited advisory function accorded to the Public Service Commission and the continued stress on this aspect by the leaders of our freedom movement resulted in the setting up of a Federal Public Service Commission under the Government of India Act, 1935. The Federal Public Service Commission became the Union Public Service Commission after Independence. The portfolio system in the Executive was introduced by the Indian constitution council act, 1861. The separation of provincial budgets from the central budget was introduced by the Indian councils Act, 1919.

  1. Consider the following statement :
    (1) Higher growth in GDP and population can occur together.
    (2) Per capita income always decreases with high population growth.
    Which of the statements given above is/are correct?








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    Higher growth in GDP and population can occur together. Per capita income always decreases with high population growth as income per person decreases with rise in population.

    Correct Option: C

    Higher growth in GDP and population can occur together. Per capita income always decreases with high population growth as income per person decreases with rise in population.

  1. Consider the following in regard to the reason for the persistence of inflation according to the Economic Survey 2012-13
    (1) Inflation in protein foods, particularly eggs, meat and fish and in fruits and vegetables has persisted because of changes in dietary habits and supply constraints.
    (2) Rise in income is also a reason for sustained food inflation.
    (3) An increase in MSP while necessary to ensure remunerative returns to farmers, raised the floor prices and also contributed to the rise in input prices.
    Which of the statements given above are correct ?








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    According to the economic survey 2012-13 Inflation persisted because of changes in dietary habits and supply constraints, Rise in income of consumers and increase in Minimum support prices which raised the floor prices and also contributed to the rise in input prices.

    Correct Option: D

    According to the economic survey 2012-13 Inflation persisted because of changes in dietary habits and supply constraints, Rise in income of consumers and increase in Minimum support prices which raised the floor prices and also contributed to the rise in input prices.