The 'National Income Committee' was chaired by: MCQ with Answer and Explanation

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The 'National Income Committee' was chaired by:

A. P.C. Mahalanobis

B. C.R. Krishnaswamy

C. D.R. Gadgil

D. V.K.R.V. Rao

Answer: Option A

Solution (By JKSSB Mock Tests)

The National Income Committee was chaired by P.C. Mahalanobis.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Production Linked Incentive' scheme aims to:

A. increase imports

B. promote imports

C. reduce production

D. boost domestic manufacturing by linking incentives to incremental output

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Correct Answer: Option D

Explanation:
PLI schemes provide incentives to boost domestic manufacturing.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax Network' is a:

A. regulatory authority

B. non-government IT company providing GST portal

C. ministry under government

D. tax collection department

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Correct Answer: Option B

Explanation:
GSTN is a non-government, private limited company that provides the IT infrastructure for GST.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is a characteristic of a closed economy?

A. High volume of exports and imports

B. Membership of WTO only

C. Free capital flows

D. No foreign trade

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Correct Answer: Option D

Explanation:
A closed economy does not engage in international trade or capital flows. It is self-sufficient and isolated from the rest of the world.

This question belongs to: Economy GK Economy Set 1

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