Indian Economy GK Questions and Answers – Part 5

41. The current price index (base 1960) is nearly 330. This means that
A. all items cost 3-3 times more than what they did in 1960
B. the prices of certain selected items have gone up to 3-3 times
C. weighted means of prices of certain item has increased 3-3 times
D. gold price has gone up 3-3 times
Answer:
C. weighted means of prices of certain item has increased 3-3 times

42. Notes on which denomination has the portrait of Mahatma Gandhi printed on them?
A. 1000 rupee
B. 500 rupee
C. 100 rupee
D. All of the above
Answer:
D. All of the above

43. Devaluation of currency will be more beneficial if
A. prices of domestic goods remain constant
B. prices of exports remain constant
C. prices of imports remains constant
D. prices of exports rise proportionately
Answer:
B. prices of exports remain constant

44. Of the gross tax revenue of the Union Government the indirect taxes account for nearly
A. 70 per cent
B. 75 percent
C. 65 percent
D. 60 percent
Answer:
C. 65 percent

45. The banks are required to maintain a certain ratio between their cash in the hand and totals assets. This is called
A. Statutory Bank Ratio (SBR)
B. Statutory Liquid Ratio (SLR)
C. Central Bank Reserve (CBR)
D. Central Liquid Reserve (CLR)
Answer:
B. Statutory Liquid Ratio (SLR)

46. Non Tax revenues can be increased by improving the working of the
A. State Road Transport Corporations
B. electricity boards
C. commercial irrigation projects
D. All of the above
Answer:
C. commercial irrigation projects

47. Which of the following is not viewed as a national debt?
A. Provident Fund
B. Life Insurance Policies
C. National Saving Certificate
D. Long-term Government Bonds
Answer:
C. National Saving Certificate

48. The condition of indirect taxes in the country’s revenue is approximately
A. 70 percent
B. 75 percent
C. 80 percent
D. 86 percent
Answer:
D. 86 percent

49. Deficit financing means that the government borrows money from the
A. RBI
B. local bodies
C. big businessmen
D. IMF
Answer:
A. RBI

50. Revenue of the state governments are raised from the following sources, except
A. entertainment tax
B. expenditure tax
C. agricultural income tax
D. land revenue
Answer:
C. agricultural income tax

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