GK Questions and Answer, GK Quiz

1:  The 'Hindu rate of growth' is a term which refers to the low annual growth rate of the Indian economy, hovering around 3.5%, from 1950s to 1980s. The term was coined by which of the following Indian economists?
Options:
  1. J. N. Bhagwati
  2. K. N. Raj
  3. Raj Krishna
  4. Sukhamoy Chakravarty

Answer: Option3

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2:  Which of the following periods was covered by the Eighth Five Year Plan in India?
Options:
  1. 1989-1994
  2. 1990-1995
  3. 1991-1996
  4. 1992-1997

Answer: Option4

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3:  An accurate measurement of economic development through Five Year Plans is represented through which of the following criterions?
Options:
  1. Development of education and health services.
  2. Development of railways and roadways.
  3. Rise in national income and per capita income.
  4. Development of industrial towns and industrial estates.

Answer: Option3

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4:  During which of the following periods were the steel plants at Durgapur, Bhilai and Rourkela established in India?
Options:
  1. First Five Year Plan
  2. Second Five Year Plan
  3. Third Five Year Plan
  4. Fourth Five Year Plan

Answer: Option2

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5:  During whose Prime Minister ship was the strategy of Rolling Plan adopted in India?
Options:
  1. Lal Bahadur Shastri
  2. Indira Gandhi
  3. Morarji Desai
  4. Rajiv Gandhi

Answer: Option3

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6:  The Five Year Plans of India intend to develop the country industrially through which of the following?
Options:
  1. the public sector
  2. the private sector
  3. the public, private, joint and Cooperative sectors
  4. increasing collaboration with non-resident Indians

Answer: Option3

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7:  The National Development Council (NDC) in India, does not comprise
Options:
  1. The Prime Minister
  2. The President
  3. Chief Ministers of States
  4. Union Cabinet Ministers

Answer: Option2

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8:  According to the Constitution of India, Economic Planning is a subject
Options:
  1. in the Union List
  2. in the State List
  3. in the Concurrent List
  4. unspecified in any special list

Answer: Option3

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9:  Which of the following Five Year Plans of India was terminated one year before its completion by the Government of the day?
Options:
  1. Second
  2. Third
  3. Fourth
  4. Fifth

Answer: Option4

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10:  Among other functions, which one of the following is the task of the Planning Commission of India?
Options:
  1. Preparation of the Five Year Plan
  2. Implementation of the Five Year Plan
  3. Financing the Five Year Plan
  4. Both (a) & (b)

Answer: Option1

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11:  The first attempt to initiate economic planning in India was made by which of the following persons?
Options:
  1. Balwantrai Mehta
  2. Vallabhbhai Patel
  3. M. Visvesvaraya
  4. Jawaharlal Nehru

Answer: Option3

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12:  The concept of Five Year Plans in India was introduced by which of the following persons?
Options:
  1. Lord Mountbatten
  2. Jawaharlal Nehru
  3. Indira Gandhi
  4. Lal Bahadur Shastri

Answer: Option2

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13:  Planning in India derives its objectives from which part of the Indian Constitution?
Options:
  1. Fundamental Rights
  2. Directive Principles of State Policy
  3. Fundamental Duties
  4. Preamble

Answer: Option2

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14:  The Chairman of the Planning Commission in India is who among the following?
Options:
  1. President
  2. Speaker of Lok Sabha
  3. Prime Minister
  4. Union Minister of Planning

Answer: Option3

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15:  The Five Year Plan proposals are finalized by which of the following bodies in India?
Options:
  1. Planning Commission
  2. Union Cabinet
  3. National Development Council
  4. Ministry of Planning

Answer: Option3

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16:  As per the Narasimham Committee Recommendations, which two of the following nationalized Indian banks have been merged?
Options:
  1. New Bank of India and Bank of India
  2. Central Bank of India and Corporation Bank
  3. Parur Central Bank and Indian Bank
  4. Punjab National Bank and New Bank of India

Answer: Option4

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17:  What is the role of the 'Banking Ombudsman' in India?
Options:
  1. To provide quality and speedy redressal of grievances of customers.
  2. To provide suggestions for innovative schemes in the banks.
  3. To monitor the quality circles in the bank.
  4. To inspect the internal working of the branches.

Answer: Option1

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18:  What does the term 'Convertibility of the Rupee' means?
Options:
  1. Being able to convert rupee notes into gold.
  2. Freely permitting the conversion of rupee to other major currencies and vice versa.
  3. Allowing the value of the rupee to be fixed by market forces.
  4. Developing an international market for currencies in India.

Answer: Option2

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19:  The 'Board of Financial Supervision' (BFS) was constituted by the RBI to have mandate over which of the following?
Options:
  1. Only commercial banks
  2. Only financial institutions
  3. Only non-banking finance companies
  4. All of these

Answer: Option4

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20:  What does a Scheduled Bank in India refer to?
Options:
  1. A bank having Rs. 10 crore deposits.
  2. A bank having Rs. 100 crore deposits.
  3. A bank having Rs. 1000 crore deposits.
  4. A bank included in the Second Schedule of RBI Act.

Answer: Option4

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