The 'Wholesale Price Index' in India is compiled by: MCQ with Answer and Explanation

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The 'Wholesale Price Index' in India is compiled by:

A. NITI Aayog

B. Office of Economic Adviser, Ministry of Commerce and Industry

C. RBI

D. Ministry of Finance

Answer: Option B

Solution (By JKSSB Mock Tests)

The WPI is compiled by the Office of Economic Adviser in the Ministry of Commerce and Industry.

This question belongs to: Economy GK Economy Set 1

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Question #1

Moral suasion by the RBI refers to:

A. persuasion and advice to banks to follow monetary policy objectives

B. legal penalties on banks

C. buying securities from banks

D. raising reserve requirements

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Correct Answer: Option A

Explanation:
Moral suasion is a non-statutory instrument of persuasion by the RBI to influence bank behaviour.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Tendulkar Committee' was constituted in which year?

A. 2009

B. 2000

C. 2013

D. 2005

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Correct Answer: Option D

Explanation:
The Tendulkar Committee was constituted in 2005.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is a major factor contributing to the growth of India's service sector?

A. Complete isolation from global markets

B. Only agricultural productivity growth

C. IT revolution, liberalisation and rising domestic demand

D. Decline in global demand for services

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Correct Answer: Option C

Explanation:
The rapid growth of India's services sector has been driven by the information technology boom, economic liberalisation, and expanding domestic and global demand for services.

This question belongs to: Economy GK Economy Set 1

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