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Daily Practice Set, Indian Economy, Questions

OAS Prelims-2020 Daily Practice Set-11/06/2020

Paper:   General Studies Paper-I

Section:  Economic and Social Development

Topic:  Indian Economy

1. The Cooperative movement in India was initiated in which of the following sector?
a) Farming
b) Agricultural credit
c) Consumer goods production
d) Marketing of agricultural products

2. Which of the following was not an objective of the Industrial Policy of 1956?
a) Expanding the Public sector
b) Developing machine-making industries
c) Accelerating rate of growth and industrialization
d) Making the country self-reliant in the production of defence goods

3. Which one of the following groups of commodities is not included in the Wholesale Price Index?
a) Primary articles
b) Fuel, power, light and lubricants
c) Manufacturing products
d) Food articles and industrial products

4. Which of the following items are kept under Public Account of India?
a) Loans raised by the government
b) All revenue received by the Government 
c) Funds placed at the disposal of the President 
d) Transactions relating to Provident fund, small savings etc.

5. Taxation and Government’s expenditure are dealt  under the:
a) Trade policy
b) Fiscal policy
c) Monetary policy
d) None of the above

6. The Government make arrangements for the collection of revenues for a year by:
a) Finance bill
b) Fiscal budget
c) Economic bill
d) Appropriation bill

7. Which of the following is not a non-plan expenditure?
a) Subsidies
b) Interest payments
c) Defence expenditure
d) None of the above

8. The ‘Year of Great Divide’ refers to:
a) 1911
b) 1921
c) 1931
d) 1951

9. The first five year plan gave more emphasis to:
a) Heavy industries
b) Agriculture
c) Employment generation
d) Export promotion

10. Which one of the following is the objective of 12th Five Year Plan?
a) Inclusive growth
b) Inclusive and Sustainable growth
c) Poverty reduction and inclusive growth
d) Faster, sustainable and more inclusive growth


Answer

  1. B
  2. D
  3. D
  4. D
  5. B
  6. A
  7. D
  8. B
  9. B
  10. D
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