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INDIAN ECONOMY MCQs

INDIAN ECONOMY MCQs

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Q61. How we can define bank?
a) it is a lawful organisation which accepts deposits only
b) a lawful organisation which accepts deposits and can be withdrawn on demand
c) an organisation which meet the needs of agriculturist and poor people only
d) an organisation which accepts gold, jewellery only

ANSWER:B
Q62. Which one is the role of Banking?
a) encourages saving habit
b) facilitates business transactions receipts &payment by cheques
c) facilitates import export transactions
d) all of the above

ANSWER:D
Q63. Banking system of India is broadly classified into how many types of banks?
a) 6
b) 7
c) 5
d) 9

ANSWER:C
Q64. What is a Central Bank?
a) a bank which entrusted with the functions of guiding and regulating the banking system
b) a bank which accepts the deposits
c) it controls the activities of businessman
d) none of the above

ANSWER:A
Q65. What is the meaning of Commercial Bank?
a) a bank which give loans to the farmers
b) a bank which accepts deposits & grant short term loans & advances to the customers
c) a only
d) a & b both

ANSWER:B

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Q66. How many types of commercial banks do we have?
a) 4
b) 5
c) 9
d) 3

ANSWER:D
Q67. What are public sector banks?
a) banks where majority stake is held by Government or RBI of India
b) where the share capital of the bank is held by private individuals
c) banks which are controlled by foreign countries
d) banks where the State Government having the control

ANSWER:A
Q68. How Private Sector Banks can be defined?
a) the banks whose share capital is held by NRI’s
b) those banks which are having the head office in Foreign Country
c) the banks where the majority of share capital of the bank is held by private individuals
d) private & public sector banks are same

ANSWER:C
Q69. How many nationalised banks are there in Public Sector Banks?
a) 20
b) 24
c) 15
d) 19

ANSWER:D
Q70. What are Foreign Banks?
a) the banks which are controlled by the residents of foreign country
b) the banks which are registered & having their headquarters in a foreign country
c) having the branches in our country
d) b & c both

ANSWER:D

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Q71. What is the meaning of Government Budget?
a) statement of the estimates of government revenue
b) statement of the estimates of the government receipts and government expenditure
c) a study of financial crisis

ANSWER: B
d) a budget which tells the purchasing power parity
Q72. When the fiscal year starts in India?
a) 1st January to 12th December
b) 1st October to 30th September
c) 1st April to 31st March
d) a @ b both

ANSWER: C
Q73. What are the components of Government Budget?
a) tax receipts only
b) VAT & specific taxation system
c) budget receipts & budget expenditure
d) direct and indirect taxes

ANSWER: C
Q74. Tax receipts is the constituent of which of the following?
a) capital receipt
b) non tax receipt
c) budget expenditure
d) revenue receipts

ANSWER: D
Q75. What is Value Added Tax (VAT)?
a) an indirect tax
b) a direct tax
c) revenue receipt
d) capital budget

ANSWER: A

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Q76. How budget expenditure can be explained?
a) Estimated expenditure of the government
b) It is a revenue expenditure
c) an estimated expenditure of the government on its development and non development programmes
d) a & b both

ANSWER: C
Q77. Expenditure on Education, Health, Industry, Agriculture etc are related to
which expenditure ?
a) development expenditure
b) non-development expenditure
c) revenue expenditure
d) capital expenditure

ANSWER: A
Q78. When the budget deficit situation arises?
a) when budget expenditure are greater than the budget receipts
b) a situation when the revenues are greater than the expenditure
c) a time when economy dissolves
d) none of the above

ANSWER: A
Q79. How we can raise Government receipts?
a) by taxation
b) by fiscal policy
c) by disinvestment
d) a & c both

ANSWER: D
Q80. How can the deficit in budget be financed?
a) Monetary Expansion
b) Borrowing from the Public
c) Disinvestment
d) All of the above

ANSWER: D

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