The 'Economic Survey' in India is prepared by: MCQ with Answer and Explanation

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The 'Economic Survey' in India is prepared by:

A. RBI

B. Department of Economic Affairs, Ministry of Finance

C. NITI Aayog

D. National Statistical Office

Answer: Option B

Solution (By JKSSB Mock Tests)

The Economic Survey is prepared by the Department of Economic Affairs in the Ministry of Finance.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'Saubhagya' scheme aims to provide:

A. electricity connections to all households

B. water connections

C. gas connections

D. bank accounts

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Correct Answer: Option A

Explanation:
Saubhagya aims to provide universal household electricity access.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is a feature of a planned economy?

A. Price determination solely by market forces

B. Centralised planning of resource allocation

C. Private ownership of all resources

D. Decentralised decision making

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Correct Answer: Option B

Explanation:
In a planned (command) economy, the central authority plans and allocates resources according to predetermined objectives rather than market signals.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' on hotel accommodation above Rs 7,500 is:

A. 5%

B. 12%

C. 28%

D. 18%

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Correct Answer: Option D

Explanation:
Hotel rooms above Rs 7,500 attract 18% GST.

This question belongs to: Economy GK Economy Set 1

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