Practice Quiz :- 35

1. When did India become a member of the IMF?
a) 1947
b) 1956
c) 1960
d) 1951
2. Euro is the currency of European Union. When did it come into being?
a) 1999
b) 1995
c) 2000
d) 2001
3. When did the Foreign Exchange Regulation Act (FERA) come into being?
a) 1973
b) 1975
c) 1980
d) 1981
4. When did Regional Rural Banks start functioning in India?
a) 1975
b) 1947
c) 1956
d) 1960
5. In India, income tax is levied by
a) Union Government
b) State Governments
c) Ministry of Finance
d) RBI

Ans.a) Union Government

6. The Securities and Exchange Board of India (SEBI) was established in
a) 1992
b) 1947
c) 1990
d) 1976
7. Which Five-year Plan is being implemented at present?
a) Eleventh
b) Eighth
c) Ninth
d) Tenth

Ans.a) Eleventh

8. Which of the following is not a direct tax?
a) Sales tax
b) Income tax
c) Wealth tax
d) Estate duty

Ans.a) Sales tax

9. Who is the ex-officio chairman of Planning Commission?
a) Prime Minister
b) President
c) Chief Justice of Supreme Court
d) Speaker of Lok Sabha

Ans.a) Prime Minister

10. The Indian economy is
a) Capitalist
b) Socialistic
c) Mixed
d) Federal