General Knowledge Quiz - Indian Economy 7

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General Knowledge Quiz on  Indian Economy 7

1. Short-term finance is usually for a period ranging up to

A. 5 months
B. 10 months
C. 12 months
D. 15 months

2. Redistribution polices geared to reduce economic inequalities include

A. progressive tax policies
B. land reforms
C. rural development policies
D. All the above

3. The budget deficit means

A. the excess of total expenditure, including loans, net of lending over revenue receipts
B. difference between revenue receipts and revenue expenditure
C. difference between all receipts and all the expenditure
D. fiscal deficit less interest payments

4. In India, which one among the following formulates the fiscal policy?

A. Planning Commission
B. Ministry of Finance
C. Finance Commission
D. The Reserve Bank of India

5. In utensils worth Rs 1000 are produced with copper worth Rs 500, wages paid are Rs 100, other material purchased is worth Rs 100 and depreciation of machinery is zero, then what is the value added in process?

A. Rs 1000
B. Rs 500
C. Rs 400
D. Rs 300

6. Deficit financing implies

A. printing new currency notes
B. replacing new currency with worn out currency
C. public expenditure in excess of public revenue
D. public revenue in excess of public expenditure

7. Since 1983, the RBI's responsibility with respect to regional rural banks was transferred to


8. Which of the following is not a part of machinery that settles industrial disputes?

A. Wage Court
B. Works Committee
C. Conciliation officers
D. Board of Conciliation

9. The ARDC is now a branch of the


10. Paper currency first started in India in

A. 1861
B. 1542
C. 1601
D. 1880

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