The 'GDP at constant prices' in India uses which base year? MCQ with Answer and Explanation

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The 'GDP at constant prices' in India uses which base year?

A. 2015-16

B. 2019-20

C. 2004-05

D. 2011-12

Answer: Option D

Solution (By JKSSB Mock Tests)

India's GDP constant price series currently uses base year 2011-12.

This question belongs to: Economy GK Economy Set 1

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Question #1

Which of the following is NOT a type of tax based on the impact on income distribution?

A. Progressive tax

B. Regressive tax

C. Proportional tax

D. Ad valorem tax as a distribution classification

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Correct Answer: Option D

Explanation:
Ad valorem is a classification based on the method of assessment (percentage of value). Based on impact on distribution, taxes are progressive, proportional or regressive.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'bank rate' in India is currently aligned with:

A. reverse repo rate

B. repo rate

C. MSF rate

D. CRR

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Correct Answer: Option C

Explanation:
The bank rate is aligned with the MSF rate.

This question belongs to: Economy GK Economy Set 1

Question #3

Open Market Operations refer to:

A. issue of new currency notes

B. lending by commercial banks to customers

C. sale and purchase of government securities by the RBI

D. trading in stock exchanges

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Correct Answer: Option C

Explanation:
Open Market Operations are the sale and purchase of government securities by the RBI to regulate liquidity.

This question belongs to: Economy GK Economy Set 1

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