Indian Economy
#932
Search
41. Sir Charles Wood’s Despatch of 1854 dealt with:
Detailed Explanation
Hide
In 1854 Charles Wood, a British Liberal politician sent the “Wood's despatch” to the Governor General Lord Dalhousie. It primarily dealt with educational reforms.
#962
Search
42. Inflation is caused by:
Detailed Explanation
Hide
Inflation occurs when prices rise in an economy and/or the purchasing power of money loses value. Increase in public spending (Which leads to Increase in money supply), hoarding, tax reductions, price rise in international markets are some causes of inflation.
#967
Search
43. Which of the following is not a method of estimating national income?
Detailed Explanation
Hide
Best three alternative methods can be used to measure the national income of a country. These are: (i) Product Method (ii) Income Method, and (iii) Expenditure Method.
#968
Search
44. One Rupee note bears signature of:
Detailed Explanation
Hide
The One Rupee note is issued by the Ministry of Finance and it bears the signatures of Finance Secretary, while other notes bear the signature of Governor RBI.
#988
Search
45. Who amongst the following is most benefitted from inflation?
Detailed Explanation
Hide
Inflation brings most benefits to debtors because people seek more money from debtors in order to meet the increased prices of commodities.
#1021
Search
46. Which country first introduced the Goods and Services Tax?
Detailed Explanation
Hide
France was the first country in the world to implement Goods and Services Tax (GST). GST was implemented in India on 1 July 2017 after the Parliament passed the Goods and Service Tax Act on 29 March 2017.
#1035
Search
47. Who introduced the Rupee coin (Rupayya) in India?
Detailed Explanation
Hide
Sher Shah Suri, during his five-year rule from 1540 to 1545, set up a new civic and military administration and issued a coin of silver, weighing 178 grains, which was also termed Rupiya.
#1055
Search
48. The First Five Year Plan of the Government of India was based on:
Detailed Explanation
Hide
The First Five-Year Plan (1951–1956) was broadly based on the Harrod–Domar model, emphasizing agriculture, irrigation and power. The Mahalanobis model became central to the Second Plan.
#1063
Search
49. The policy that deals with the tax and expenditure policies of the Government is called:
Detailed Explanation
Hide
Fiscal policy concerns government taxation, public expenditure and borrowing to influence economic activity. In India it is primarily implemented through the Union Budget and related tax and expenditure measures.
#1080
Search
50. Operation Flood is related to:
Detailed Explanation
Hide
Operation Flood was India's major dairy development programme, launched in 1970 under the National Dairy Development Board. It was closely associated with Verghese Kurien and transformed India's dairy sector.
#1113
Search
51. Removal of poverty was the foremost objective of which Five-Year Plan?
Detailed Explanation
Hide
The Fifth Five-Year Plan (1974–1979) emphasized poverty removal and self-reliance. The slogan Garibi Hatao became strongly associated with the period; the plan was terminated early in 1978.
#1125
Search
52. The first Indian Governor of the RBI was:
Detailed Explanation
Hide
C. D. Deshmukh was the first Indian Governor of the Reserve Bank of India, serving from 1943 to 1949. The first RBI Governor overall was Sir Osborne Smith.
#1169
Search
53. Who is popularly known as the Father of White Revolution in India?
Detailed Explanation
Hide
Dr. Verghese Kurien is known as the Father of the White Revolution in India. He was central to Operation Flood, launched in 1970 through the National Dairy Development Board, which expanded cooperative dairy production.
#1174
Search
54. Which does not form part of India's foreign exchange reserve?
Detailed Explanation
Hide
India's official foreign-exchange reserves include foreign currency assets, gold, SDRs and reserve position in the IMF. Foreign currency and securities held privately by banks or companies are not part of the RBI's official reserves.
#1175
Search
55. The main feature of a capitalist economy is:
Detailed Explanation
Hide
A defining feature of a capitalist economy is private ownership of productive resources and reliance on market mechanisms. Prices generally respond to demand and supply, with profit as an important incentive.
#1180
Search
56. An economy which does not have any relation with the rest of the world is known as:
Detailed Explanation
Hide
A closed economy has no international trade in the strict textbook sense: it neither imports nor exports goods and services. An open economy participates in international trade and capital flows.
#1181
Search
57. The symbol of the Reserve Bank of India is:
Detailed Explanation
Hide
The RBI emblem features a tiger and palm tree. The original design used a lion, but the tiger was later adopted as the animal symbol.
#2788
Search
58. The medium of exchange in gold during the Gupta period was known as the:
Detailed Explanation
Hide
Suvarna denotes a gold coin/monetary unit associated with ancient India; Gupta rulers are especially noted for extensive gold coinage.
#2790
Search
59. The famous ‘Peacock Throne’ originally belonged to:
Detailed Explanation
Hide
The Peacock Throne was commissioned for Shah Jahan and was carried away by Nadir Shah after the Persian invasion of 1739.
#2792
Search
60. Who was the first Woman Governor of a State in free India?
Detailed Explanation
Hide
Sarojini Naidu became Governor of the United Provinces (now Uttar Pradesh) after independence, serving from 15 August 1947 to 2 March 1949.
