Q1.The income tax in India is
(a)indirect and progressive
(b)diret and proportional
(c)direct and progressive
(d)indirect and proportional
Q2.The decentralisation system was recommended by
(a)C. Rajagopalachari
(b)J.B. Kripalani
(c)Balwant Rai Mehta
(d)Ashok Mehta
Q3.The principal sources of revenue to the State Government in India is
(a)Income Tax
(b)Sales Tax
(c)State Excise Duties
(d)Land Revenue
Q4.Open market operations of a Central Bank are sale and purchase of:
(a)Foreign currencies
(b)corporate securities
(c)trade bills
(d)government securities
Q5.Which of the following is not a function of the RBI ?
(a)Bankers Bank
(b)Bank of Issue
(c)Bankers to the Public
(d)Custodian of foreign exchange
Q6.Which two of the following nationalised banks have been merged as per the recommendation of the Narasimhan Committee?
(a)New Bank of India and Bank of India
(b)Central Bank of India and Corporation Bank
(c)Parur Bank of India and Bank of India
(d)Punjab National Bank and New Bank of India
Q7.The Reserve Bank of India issues notes under the following note issue method
(a)Proportional reserve system
(b)Minimum reserve system.
(c)Maximum fiduciary system
(d)Fixed fiduciary system
Q8.The Industrial Development Bank of India (IDBI) started functioning in
(a)1950
(b)1952
(c)1964
(d)1972
Q9.What was the maximum number of days of employment in a year, a member of a rural poor family would get under Jawahar Rozgar Yojana?
(a)90 days
(b)100 days
(c)120 days
(d)180 days
Q10.Convertibility of the rupee implies
(a)Being able to convert rupee notes into gold
(b)Freely permitting the conversion of rupee to other major currencies and vice versa
(c)Allowing the value of the rupee to be fixed by market forces
(d)Development an international market for currencies in India.
Q11.Among Indian Economics who had done pioneering work on National Income ?
(a)P.N. Dhar
(b)Jagdish Bhagwati
(c)V. K. R. V. Rao
(d)Prof. Shenoi
Q12.The method by which the CSO estimates the national income is
(a)Income method
(b)Expenditure method
(c)Production method
(d)A combination of all three
Q13.The place where bankers meet and settle their mutual claims and accounts is known as
(a)Treasury
(b)Clearing House
(c)Collection Centre
(d)Dumping Ground
Q14.Which of the following panels examined and suggested tax reforms:
(a)Sawant Committee
(b)Verma Commission
(c)Chelliah Committee
(d)None of these
Q15.Jawahar Rozgar Yojana was started by:
(a)Jawaharlal Nehru
(b)Rajiv Gandhi
(c)Indira Gandhi
(d)Sanjay Gandhi
