Indian Economy GK Questions and Answers – Part 6

51. The currency convertibility concept in its original form originated in
A. Wells Agreement
B. Bretton Woods Agreement
C. Taylors Agreement
D. None of the above
Answer:
B. Bretton Woods Agreement

52. In the state of India, the State Financial Corporation have given assistance mainly to develop
A. agricultural farms
B. cottage industry
C. large-scale industries
D. medium and small-scale industries
Answer:
D. medium and small-scale industries

53. The central co-operative banks are in direct touch with
A. farmers
B. state co-operative banks
C. land development banks
D. central government
Answer:
B. state co-operative banks

54. The first wholly Indian Bank was set up in
A. 1794      B. 1894
C. 1896      D. 1902
Answer:
B. 1894

55. States earn maximum revenue through
A. land revenue
B. custom revenue
C. commercial taxes
D. excise duties on intoxicants
Answer:
C. commercial taxes

56. How many banks were nationalized in 1969?
A. 16
B. 14
C. 15
D. 20
Answer:
B. 14

57. In India, the first bank of limited liability manages by Indians and founded in 1881 was
A. Hindustan Commercial Bank
B. Oudh Commercial Bank
C. Punjab National Bank
D. Punjab and Sind Bank
Answer:
B. Oudh Commercial Bank

58. In India, inflation measured by the
A. Wholesale Price Index number
B. Consumers Price Index for urban non-manual workers
C. Consumers Price Index for agricultural workers
D. National Income Deflation
Answer:
A. Wholesale Price Index number
Explanation:
Two major measures for inflation, which are widely used, are Wholesale Price Index (WPI) and Consumer Price Index (CPI). WPI measures the increase in the prices of a fixed basket of goods prevailing in the wholesale market while CPI measures the increase in the prices of essential commodities purchased by an average consumer prevailing in the retail market. Measured weekly, WPI is the primary inflation measure in India.

59. Depreciation means
A. closure of a plant due to lock out
B. closure of a plant due to labour trouble
C. loss of equipment over time due to wear and tear
D. destruction of a plant in a fire accident
Answer:
C. loss of equipment over time due to wear and tear

60. Deficit financing leads to inflation in general, but it can be checked if
A. government expenditure leads to increase in the aggregate supply in ratio of aggregate demand
B. only aggregate demand is increased
C. all the expenditure is denoted national debt payment only
D. All of the above
Answer:
D. All of the above

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