Indian Economy Test 1

Result

Indian Economy Test 1

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Weekly Quiz Competition

Question 1
1 / -0

BHIM app is used for ______.

A
making digital payments

B
gas subsidies

C
education loans

D
exam locator

Solution

Bharat Interface for Money (BHIM) is a payment app that lets people make simple, easy and quick transactions using Unified Payments Interface (UPI). People can make direct bank payments to anyone on UPI using their UPI ID or by scanning their QR with the BHIM app. They can also request money through the app from a UPI ID.
Question 2
1 / -0

What does "GST" stand for?

A
Goods and Service Transfer

B
Good Service Tax

C
Good Security Tax

D
Goods and Services Tax

Solution

Goods and Services Tax is a comprehensive indirect tax which is to be levied on the manufacture, sale and consumption of goods and services in India. This is so far the biggest tax reform in the country. GST eliminates the cascading effect of taxes because it is taxed at every point of business and the input credit is available in the value chain.
Question 3
1 / -0

Among the following items which is the biggest earner of foreign exchange for India?

A
Iron ore

B
Readymade garments

C
Machinery and transport equipment

D
Pearls and semi-precious stones
Question 4
1 / -0

Which of the following is not correctly matched?

A
Cut-motion : demand to reduce allocation of funds

B
Guillotine : bring the debate to an end

C
Division : mode of arriving at a decision

D
Point of order : put an end to the business of the day
Question 5
1 / -0

A Bill is deemed to be a Money Bill if it has any provisions dealing with
1. imposition, abolition, remission, alteration or regulation of any tax
2. appropriation of money from the Consolidated Fund of India
3. imposition of fines or other pecuniary penalties
4. payment of fee for licences or fee for service rendered
Select the correct answer using the codes given below.

A
1 and 2

B
1, 3 and 4

C
1, 2 and 3

D
Only 2
Question 6
1 / -0

Which of the following does not come under the public accounts of India?

A
Provident fund deposits

B
Remittances

C
Saving banks deposits

D
Salaries of the President
Question 7
1 / -0

Match the following
1. Union List A. Education
2. State List B. Agriculture
3. Concurrent List C. Banking
4. Residuary power D. cyber security
Codes

A
A-1 ,B-2 ,C-3 ,D-4

B
A-2 ,B-3 ,C-1 ,D-4

C
A-3 ,B-2 ,C-1 ,D-4

D
A-4 ,B-2 ,C-3 ,D-1
Question 8
1 / -0

Which one of the following expenditures is not charged on the Consolidated Fund of India?

A
Salary and allowances of the President of India

B
Salary and allowances of the Vice-President of India

C
Salary and allowances of the Justice of the Supreme Court of India

D
Salary and allowances of the Speaker of the Lok Sabha
Question 9
1 / -0

Consider the following statements.
1. Agricultural sector is continued to be the primary employment providing sector of India.
2. Service sector is the principal source of employment in urban areas in India.
Which of the statements given above is/are correct?

A
Only 1

B
Only 2

C
Both 1 and 2

D
Neither 1 nor 2
Question 10
1 / -0

With reference to the Finance Commission of India, which of the following statements is correct?

A
It encourages the inflow of foreign capital for infrastructure development.

B
It facilitates the proper distribution of finance among the public sector undertakings.

C
It ensures transparency in financial administration.

D
None of the above

User

Question Analysis

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Re-Attempt Weekly Quiz Competition

1.	Union List	A.	Education
2.	State List	B.	Agriculture
3.	Concurrent List	C.	Banking
4.	Residuary power	D.	cyber security

Indian Economy Test 1

Result

Indian Economy Test 1

Score

-

Rank

-

SHARING IS CARING

Question 1

making digital payments

gas subsidies

education loans

exam locator

Solution

Question 2

Goods and Service Transfer

Good Service Tax

Good Security Tax

Goods and Services Tax

Solution

Question 3

Iron ore

Readymade garments

Machinery and transport equipment

Pearls and semi-precious stones

Question 4

Cut-motion : demand to reduce allocation of funds

Guillotine : bring the debate to an end

Division : mode of arriving at a decision

Point of order : put an end to the business of the day

Question 5

1 and 2

1, 3 and 4

1, 2 and 3

Only 2

Question 6

Provident fund deposits

Remittances

Saving banks deposits

Salaries of the President

Question 7

A-1 ,B-2 ,C-3 ,D-4

A-2 ,B-3 ,C-1 ,D-4

A-3 ,B-2 ,C-1 ,D-4

A-4 ,B-2 ,C-3 ,D-1

Question 8

Salary and allowances of the President of India

Salary and allowances of the Vice-President of India

Salary and allowances of the Justice of the Supreme Court of India

Salary and allowances of the Speaker of the Lok Sabha

Question 9

Only 1

Only 2

Both 1 and 2

Neither 1 nor 2

Question 10

It encourages the inflow of foreign capital for infrastructure development.

It facilitates the proper distribution of finance among the public sector undertakings.

It ensures transparency in financial administration.

None of the above

User

Question Analysis

My Perfomance

Score

-

Rank

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