Indian Economy

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

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

Correct Answer

Excise duties

More Questions on Indian Economy

  • Q. Meera Seth committee was associated with:
    A)sex discrimination at work place
    B)the development of handloom industry.
    C)female foeticide
    D)banking sector
    Answer: the development of handloom industry.
  • Q. Deficit financing leads to inflation in general, but it can be checked if
    A)only aggregate demand is increased
    B)government expenditure leads to increase in the aggregate supply in ratio of aggregate demand
    C)all the expenditure is denoted national debt payment only
    D)All of the above
    Answer: All of the above
  • Q. Redistribution polices geared to reduce economic inequalities include
    A)land reforms
    B)progressive tax policies
    C)rural development policies
    D)All the above
    Answer: All the above
  • Q. Paper currency first started in India in
    A)1542
    B)1861
    C)1601
    D)1880
    Answer: 1861
  • Q. Of the gross tax revenue of the Union Government the indirect taxes account for nearly
    A)75 percent
    B)65 percent
    C)70 per cent
    D)60 percent
    Answer: 65 percent
  • Q. Which of the following is not a part of machinery that settles industrial disputes?
    A)Works Committee
    B)Wage Court
    C)Conciliation officers
    D)Board of Conciliation
    Answer: Wage Court
  • Q. India changed over to the decimal system of coinage in
    A)April 1957
    B)April 1958
    C)April 1995
    D)April 1959
    Answer: April 1957
  • Q. For International money transfer which Indian public sector bank has signed MoU with MoneyGram company of America?
    A)Bank of Baroda
    B)State Bank of India
    C)Punjab National Bank
    D)Central Bank of India
    Answer: Punjab National Bank
  • Q. In India, the first bank of limited liability managed by Indians and founded in 1881 was
    A)Oudh Commercial Bank
    B)Hindustan Commercial Bank
    C)Punjab National Bank
    D)Punjab and Sind Bank
    Answer: Oudh Commercial Bank
  • Q. The association of the rupee with pound sterling as the intervention currency was broken in
    A)1991
    B)1992
    C)1990
    D)1993
    Answer: 1992
  • Q. Resurgent India bonds were issued in US dollar, Pound Sterling and
    A)Deutsche Mark
    B)Japanese Yen
    C)Euro
    D)French Franc
    Answer: Deutsche Mark
  • Q. With the objective of opening the insurance sector for private participation the Insurance Regulatory and Development Authority Act (IRDA) was passed in:
    A)the year 1999
    B)the year 1998
    C)the year 2005
    D)the year 1990
    Answer: the year 1999
  • Q. Regional rural banks I=have limited area of operation II=have free access to liberal refinance facilities from NABARD III=are required to lend only to weaker sections
    A)II, III
    B)I, II, III
    C)I, III
    D)I, II
    Answer: I, II
  • Q. What is the objective of ‘Sangam Yojna 1996’?
    A)To make Ganga water pollution free
    B)To make Sangam region of Allahabad more attractive for tourists
    C)To increase the welfare of the disabled
    D)To unite, various groups of Hindus
    Answer: To increase the welfare of the disabled
  • Q. Finance Commission is constituted after every:
    A)5 years
    B)6 years
    C)3 years
    D)4 years
    Answer: 5 years
  • Q. Excise duty is a tax levied on the
    A)export of goods
    B)import of goods
    C)production of goods
    D)sale of goods
    Answer: production of goods
  • Q. Short-term finance is usually for a period ranging up to
    A)10 months
    B)5 months
    C)12 months
    D)15 months
    Answer: 12 months
  • Q. In which of the following sequences the change in quantity of money leads to change in price level in the Keynesian models?
    A)Change in quantity of money - change in employment and output - change in investment - change in the rate of interest - change in price level
    B)Change in quantity of money - change in investment - change in rate of interest - change in employment and output - change in price level
    C)Change in quantity of money - change in investment - change in employment and output - change in rate of interest - change in price level
    D)Change in quantity of money - change in rate of interest - change in investment - change in employment and output - change in price level
    Answer: Change in quantity of money - change in rate of interest - change in investment - change in employment and output - change in price level
  • Q. Which of the following is not an undertaking under the administrative control of Ministry of Railways?
    A)Konkan Railway Corporation Limited
    B)Indian Railways Construction Company Limited
    C)Container Corporation of India Limited
    D)Diesel Locomotive Works, Varanasi
    Answer: Indian Railways Construction Company Limited
  • Q. The average rate of domestic savings (gross) for the Indian economy is currently estimated to be in the range of
    A)20 to 25 percent
    B)25 to 30 percent
    C)15 to 20 percent
    D)30 to 35 percent
    Answer: 20 to 25 percent

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