The 'National Income' in India was first estimated by: MCQ with Answer and Explanation

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The 'National Income' in India was first estimated by:

A. V.K.R.V. Rao

B. P.C. Mahalanobis

C. R.C. Dutt

D. Dadabhai Naoroji

Answer: Option A

Solution (By JKSSB Mock Tests)

V.K.R.V. Rao made the first scientific estimate of India's national income.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Farmers' Produce Trade and Commerce (Promotion and Facilitation) Act, 2020' was later:

A. extended to 2030

B. repealed in 2021

C. implemented fully

D. amended only

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Correct Answer: Option B

Explanation:
The three farm laws of 2020 were repealed in 2021.

This question belongs to: Economy GK Economy Set 1

Question #2

External commercial borrowing refers to:

A. foreign direct investment

B. borrowing by the government from the RBI

C. borrowing from domestic banks

D. borrowing by Indian firms from foreign lenders

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Correct Answer: Option D

Explanation:
External commercial borrowing is commercial loans raised by Indian firms from foreign lenders.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Monetary Policy Committee' was constituted under which act?

A. Companies Act, 2013

B. RBI Act, 1934

C. Banking Regulation Act, 1949

D. Negotiable Instruments Act, 1881

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Correct Answer: Option B

Explanation:
The MPC was constituted under the Reserve Bank of India Act, 1934 as amended.

This question belongs to: Economy GK Economy Set 1

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