Indian Economy Questions

Q:

The implementation of Jawahar Rojgar Yojana rests with

A) Gram Panchayat B) District Collector
C) State Government D) Union Government
 
Answer & Explanation Answer: A) Gram Panchayat

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Q:

In India national, National Income is calculated by the method which is known as

A) the combined method B) the income method
C) the product method D) the expenditure method
 
Answer & Explanation Answer: A) the combined method

Explanation:

In India, National Income is calculated by the combined method. It combines two methods i.e product or output method and the income method. This is done to overcome the problem of deficiency of statistics. The product method endeavours to find out the net contribution to national income of all producing units. The income method adds up income and payments accruing of factors of production. This method is used in the tertiary  sector like government services banking etc and also in the commoity sector if output data is not available.

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Q:

When was the first national Forest Policy issued by the Government of India

A) 1940 B) 1952
C) 1942 D) 1999
 
Answer & Explanation Answer: B) 1952

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Q:

The prices at which the government purchases food grains for maintaining the Public Distribution system (PDS) and for building up buffer - stock is known as :

A) minimum support prices B) procurement prices
C) issue prices D) ceiling prices
 
Answer & Explanation Answer: B) procurement prices

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Q:

In India, the state known for its sandalwood is

A) Karnataka B) Assam
C) Kerala D) West Bengal
 
Answer & Explanation Answer: A) Karnataka

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Q:

In India, planned economy is based on

A) Mixed Economy System B) Capitalist System
C) Gandhian System D) Socialist System
 
Answer & Explanation Answer: D) Socialist System

Explanation:

In_India,_planned_economy_is_based_on1556278122.jpg image

 

In India, planned economy is based on Socialist System.

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Q:

Which amongst the following states/UTs has Not identified tribal community

A) Chhattisgarh B) Haryana
C) Maharashtra D) Karnataka
 
Answer & Explanation Answer: B) Haryana

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Q:

Which sector of Indian Economy contributes largest to the Gross National Product 

A) Primary sector B) Secondary sector
C) Tertiary sector D) Public Sector
 
Answer & Explanation Answer: C) Tertiary sector

Explanation:
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