Indian Economy - Study Mode

[#91] How many banks were nationalized in 1969?
Correct Answer

(B) 14

Explanation

Solution: 14 banks were nationalized in 1969.

[#92] In India, the first bank of limited liability managed by Indians and founded in 1881 was
Correct Answer

(B) Oudh Commercial Bank

Explanation

Solution: In India, the first bank of limited liability managed by Indians and founded in 1881 was Oudh Commercial Bank.

[#93] In India, inflation measured by the
Correct Answer

(A) Wholesale Price Index number

Explanation

Solution: Two major measures for inflation, which are widely used, are Wholesale Price Index (WPI) and Consumer Price Index (CPI). WPI measures the increase in the prices of a fixed basket of goods prevailing in the wholesale market while CPI measures the increase in the prices of essential commodities purchased by an average consumer prevailing in the retail market. Measured weekly, WPI is the primary inflation measure in India.

[#94] The annual yield from which of the following Union Government taxes is the highest?
Correct Answer

(D) Excise duties

Explanation

Solution: The annual yield from excise duties is the highest.

[#95] The average rate of domestic savings (gross) for the Indian economy is currently estimated to be in the range of
Correct Answer

(B) 20 to 25 percent

Explanation

Solution: The average rate of domestic savings (gross) for the Indian economy is currently estimated to be in the range of 20 to 25 percent.