Indian Economy - General Knowledge Questions

1 .

If the fiscal deficit of the Union Government is Rs. 75,000 crores relending to State is Rs. 25,000 crores, interest payments are Rs. 25,000 crores, what is the amount of the primary deficit?

A)

Rs. 50,000 crores

B)

Rs. 25,000 crores

C)

Rs. 1,00,000 crores

D)

Rs. 1,25,000 crores

Correct Answer : Rs. 50,000 crores

2 .

Excise duty is a tax levied on the

A)

production of goods

B)

import of goods

C)

export of goods

D)

sale of goods

Correct Answer : production of goods

3 .

National Agricultural Insurance Scheme replacing Comprehensive Crop Insurance Scheme was introduced in the year

A)

1997

B)

1998

C)

1999

D)

2000

Correct Answer : 1999

4 .

Debenture holders of a company are its

A)

shareholders

B)

creditors

C)

debtors

D)

directors

Correct Answer : creditors

5 .

Reserve Bank of India was nationalized in the year

A)

1935

B)

1945

C)

1949

D)

1969

Correct Answer : 1949

6 .

Our financial system has provided for the transfer of resources from the centre to the states; the important means of resource transfer are

A)

tax sharing

B)

grant-in-aids

C)

loans

D)

All the above

Correct Answer : All the above

7 .

The average rate of domestic savings (gross) for the Indian economy is currently estimated to be in the range of

A)

15 to 20 percent

B)

20 to 25 percent

C)

25 to 30 percent

D)

30 to 35 percent

Correct Answer : 20 to 25 percent

8 .

States earn maximum revenue through

A)

land revenue

B)

custom revenue

C)

commercial taxes

D)

excise duties on intoxicants

Correct Answer : commercial taxes

9 .

The annual yield from which of the following Union Government taxes is the highest?

A)

Custom duties

B)

Corporation tax and income tax

C)

Inheritance tax, wealth tax, interest tax and gift tax

D)

Excise duties

Correct Answer : Excise duties

10 .

The first wholly Indian Bank was set up in

A)

1794

B)

1894

C)

1896

D)

1902

Correct Answer : 1894

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