Introduction to Indian Economy

1. Union Budget of India is presented by whom and in which house/ houses of the Parliament?

• Finance Minister of India; Lok Sabha

• Prime Minister of India; Rajya Sabha

• Cabinet Secretary; Both Lok Sabha and Rajya Sabha

• President of India; in joint session of Parliament

2. Who among the following presented the first budget (interim) of Independent India?

• Jawaharlal Nehru

• R K Shanmukham Chetty

• N.D. Tiwari

• Morarji Desai

3. If a person is ready to work at the prevailing wage rate in the market, but he is unable to find the work, then what type of unemployment would it be called?

• Voluntary unemployment

• Involuntary unemployment

• Seasonal unemployment

• None of the above

4. If new computers are being installed in a company and some employees are fired from the job due to lack of computer knowledge then what kind of unemployment would it be called?

• Disguised Unemployment

• Structural unemployment

• Hidden unemployment

• Frictional unemployment

5.What type of unemployment is found in the agriculture sector of India?

• Disguised Unemployment

• Voluntary unemployment

• Frictional unemployment

• None of the above

6. Why was the World Bank established?

• To promote the International Trade

• To reconstruct the economies damaged during the Second World War

• To improve the adverse Balance of Payment situation of the nonmember countries

• None of the above

Who is the current President of the World Bank Group?

(a)  

Who regulates finance market in India?

• Ministry of finance

• Reserve bank of India

• Ministry of trade and commerce

• SEBI

9. When was COPRA implemented in India?

(a)  

10. Which of the following is a direct tax?

• Corporation tax

• Custom duty

• Excise duty

• Service tax