The 'eight core industries' in India include: MCQ with Answer and Explanation

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The 'eight core industries' in India include:

A. IT services, banking, insurance

B. coal, petroleum, pharmaceuticals, textiles

C. agriculture, textiles, chemicals

D. coal, crude oil, natural gas, refinery products, fertilizers, steel, cement, electricity

Answer: Option D

Solution (By JKSSB Mock Tests)

The eight core industries are coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity.

This question belongs to: Economy GK Economy Set 1

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Question #1

The Second Five Year Plan was based on which model?

A. Rostow

B. Mahalanobis

C. Harrod-Domar

D. Solow

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Correct Answer: Option B

Explanation:
The Second Five Year Plan was based on the Mahalanobis model.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is the formula for calculating fiscal deficit?

A. Capital expenditure − Capital receipts

B. Total expenditure − Total receipts excluding borrowings

C. Revenue expenditure − Revenue receipts

D. Total expenditure − Total receipts including borrowings

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Correct Answer: Option B

Explanation:
Fiscal deficit = Total expenditure − (Revenue receipts + Non-debt capital receipts). It indicates the total borrowing requirement of the government.

This question belongs to: Economy GK Economy Set 1

Question #3

Broad money M3 in India consists of M1 plus:

A. foreign currency reserves

B. only post office deposits

C. time deposits with banks

D. government deposits

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Correct Answer: Option C

Explanation:
M3 is M1 plus time deposits with banks.

This question belongs to: Economy GK Economy Set 1

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