Indian Economy GK Questions and Answers – Part 8

71. Since independence, both development and non-development expenditures have increased; the increase in the former being a little more than in the other. Non-development expenditure involves
I. interest payments
II. subsidies
III. defence
IV. irrigation
A. I, II
B. I
C. I, II, III
D. II, III, IV
Answer:
C. I, II, III

72. The association of the rupee with pound sterling as the intervention currency was broken in
A. 1990
B. 1991
C. 1992
D. 1993
Answer:
C. 1992

73. The central banking functions in India are performed by the
I. Central Bank of India
II. Reserve Bank of India
III. State Bank of India
IV. Punjab National Bank
A. I, II
B. II
C. I
D. II, III
Answer:
B. II

74. On which one of the followings is the benefits received principle of taxation to achieve optimality bases?
A. Marginal benefit received
B. Total benefit received
C. Average benefit received
D. Ability to pay for the benefit
Answer:
D. Ability to pay for the benefit

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