Economics INDIAN ECONOMY: CENTRAL PROBLEMS AND PLANNING Test 15 Welcome to your Economics INDIAN ECONOMY: CENTRAL PROBLEMS AND PLANNING Test 15 Name Email 1. The Raleigh Commission (1902) was appointed to recommend reforms in: (a) the education system (b) draught management (c) the judicial system (d) the police system None 2.Identify the INCORRECT statement about Public Distribution System (PDS) in India. (a) From 1997, PDS became TPDS for targeted consumers. (b) PDS was envisaged in 1967 as a price support program to help consumers. (c) Those living below the poverty line get food grains at subsidized prices . (d) PDS has been abandoned in the country since 2007. None 3. Minimum Support Price (MSP) of the agricultural crops in India is fixed by the government on the recommendations of the: (a) Reserve Bank of India (b) Commission for Agricultural Costs and Prices (CACP) (c) Food Corporation of India (FCI) (d) NABARD None 4.The period of 12th Five Year Plan was: (a) 2012-2017 (b) 2007-2012 (c) 2002-2007 (d) 1997-2002 None 5.The minimum support price protects farmers against which of the following ? (a) Crop failure due to unexpected diseases or insect infections (b) The high rate of interest from the local currency lenders (c) Extreme drought, flood or any other natural disaster (d) Excess fall in prices during bumper production None 6.The fund into which the proceeds from disinvestment of Central Public Sector Enterprises are channelised is known as ______. (a) National Fund (b) National Infrastructure Fund (c) National Investment Fund (d) National Rural and Urban Fund None 7. The period of second five year plan in India was: (a) 1961-66 (b) 1969-74 (c) 1956-61 (d) 1951-56 None 8.For which crop, fair and remunerative price is announced instead of minimum support price? (a) Rice (b) Sugarcane (c) Pulses (d) Wheat None 9.For how many mandated crops, Minimum Support Price (MSP) is announced by the government ? (a) 22 (b) 42 (c) 32 (d) 12 None 10.Who maintains a Buffer Stock of Food grains in India ? (a) NAFED (b) FICCI (c) Ministry of Agriculture (d) FCI None 11. In whose guidance the economic survey of India is prepared ? (a) Finance Commission (b) Finance Minister (c) RBI Governor (d) Chief Economic Advisor None 12.The Minimum Support Price is declared by ______. (a) Finance Ministry (b) Ministry of Agriculture (c) The Cabinet committee of economic affairs (d) Chamber of Commerce None 13. A savings fund in which both, the employer and the employee contribute regularly in the interest of the employee is known as: (a) Index Fund (b) Mutual Fund (c) Provident Fund (d) Balanced Fund None 14.Which one of the following is used for indexing dearness allowance to government employees for increase in prices in India ? (a) Interest rates (b) Consumer Price Indices (CPI)/ (c) Bank rates (d) Statutory Liquidity Ratio (SLR) None 15.Which theory in economics proposes that countries export what they can most efficiently and plentifully produce ? (a) Solow-Swan Model (b) Heckscher-Ohlin Model/ (c) Input-Output Model (d) Cournot Competition None 16.As per Mankiw’s Principles of Economics , the standard of living of a country depends on the country’s _______. (a) Government Policies (b) Nominal Wages (c) Average Wages (d) Ability to produce goods and services None 17. The base financial year for the calculation of the All India Index of industrial production (IIP) is: (a) 2010-2011 (b) 2004-2005 (c) 2011-2012 (d) 2005-2006 None 18.Minimum Support Price (MSP) is recommended by _________. (a) The Commission for Weights and Measures (b) The Food Safety and Standards Authority of India (c) The Farmer's Welfare Society (d) The Commission for Agricultural Costs and Prices None 19.Which panel set up by the Government of India suggested total decontrol of the sugar industry? (a) RamSevak Panel (b) Rangarajan Panel (c) RadheShyam Panel (d) Sri Krishna Panel None Time's up
