Indian Economy | General Knowledge Questions and Answers | General Knowledge Free Online-Tests | LucentBlackBoard

01.

On July 12 1982, the ARDC was merged into:

A.	RBI	B.	NABARD
C.	EXIM bank.	D.	None of these.

Answer and Explanation

Answer: NABARD

Explanation:
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02.

Revenue of the state governments are raised from the following sources, except

A.	entertainment tax	B.	expenditure tax
C.	agricultural income tax	D.	land revenue

Answer and Explanation

Answer: agricultural income tax

Explanation:
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03.

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

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

Answer and Explanation

Answer: 12 months

Explanation:
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04.

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 and Explanation

Answer: All of the above

Explanation:
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05.

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

A.	ARDC	B.	SBI
C.	NABARD	D.	PACs

Answer and Explanation

Answer: NABARD

Explanation:
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06.

Paper currency first started in India in

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

Answer and Explanation

Answer: 1861

Explanation:
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07.

Which of the following is not viewed as a national debt?

A.	Provident Fund	B.	Life Insurance Policies
C.	National Saving Certificate	D.	Long-term Government Bonds

Answer and Explanation

Answer: National Saving Certificate

Explanation:
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08.

The central banking functions in India are performed by the:

A.	Central Bank of India.	B.	Reserve Bank of India
C.	State Bank of India	D.	Punjab National Bank

Answer and Explanation

Answer: Reserve Bank of India

Explanation:
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09.

How many banks were nationalized in 1969?

A.	16	B.	14
C.	15	D.	20

Answer and Explanation

Answer: 14

Explanation:
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10.

Gilt-edged market means

A.	bullion market	B.	market of government securities
C.	market of guns	D.	market of pure metals

Answer and Explanation

Answer: market of government securities

Explanation:
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11.

Debenture holders of a company are its

A.	shareholders	B.	creditors
C.	debtors	D.	directors

Answer and Explanation

Answer: creditors

Explanation:
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12.

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

A.	Custom duties	B.	Inheritance tax, wealth tax, interest tax and gift tax
C.	Corporation tax and income tax	D.	Excise duties

Answer and Explanation

Answer: Excise duties

Explanation:
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13.

If an economy is equilibrium at the point where plans to save and to invest are equal, then government expenditure must be

A.	zero	B.	equal to government income
C.	larger than government income	D.	negative

Answer and Explanation

Answer: equal to government income

Explanation:
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14.

When was the first wholly Indian Bank set?

A.	1794	B.	1894
C.	1896	D.	1902

Answer and Explanation

Answer: 1894

Explanation:
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15.

If all the banks in an economy are nationalized and converted into a monopoly bank, the total deposits:

A.	Will decrease.	B.	Will increase
C.	Will neither increase nor decrease	D.	None of the above

Answer and Explanation

Answer: Will neither increase nor decrease

Explanation:
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16.

Which of the following is not an undertaking under the administrative control of Ministry of Railways?

A.	Container Corporation of India Limited	B.	Konkan Railway Corporation Limited
C.	Indian Railways Construction Company Limited	D.	Diesel Locomotive Works, Varanasi

Answer and Explanation

Answer: Indian Railways Construction Company Limited

Explanation:
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17.

The Board of Industrial and Financial Reconstruction (BIFR) came into existence in

A.	1984	B.	1986
C.	1987	D.	1989

Answer and Explanation

Answer: 1987

Explanation:
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18.

The currency convertibility concept in its original form originated in:

A.	Wells Agreement.	B.	Bretton Woods Agreement.
C.	Taylors Agreement	D.	None of these.

Answer and Explanation

Answer: Bretton Woods Agreement.

Explanation:
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19.

Notes on which denomination has the portrait of Mahatma Gandhi printed on them?

A.	1000 rupee	B.	500 rupee
C.	100 rupee	D.	All of the above

Answer and Explanation

Answer: All of the above

Explanation:
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20.

Deprecation 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 and Explanation

Answer: Loss of equipment over time due to wear and tear

Explanation:
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