Which of the following is a major structural challenge for the Indian economy? MCQ with Answer and Explanation

Which of the following is a major structural challenge for the Indian economy?
A. Complete equality of income across regions
B. Self-sufficiency in all commodities without trade
C. Regional disparities, unemployment and informalisation of the workforce
D. Absence of an informal sector
Answer: Option C
Solution (By JKSSB Mock Tests)
The Indian economy continues to face structural challenges such as regional imbalances, unemployment and underemployment, and a large informal sector.

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Practice More Economy Set 1 Questions

Question #1
The 'Income Tax Act' in India was enacted in which year?
A. 1961
B. 1965
C. 1972
D. 1956

Correct Answer: Option A


Explanation:
The Income Tax Act was enacted in 1961.

This question belongs to: Economy GK Economy Set 1
Question #2
The 'Goods and Services Tax' excludes which of the following from its purview?
A. Alcoholic liquor for human consumption
B. Services
C. Manufactured goods
D. Imported goods

Correct Answer: Option A


Explanation:
Alcoholic liquor for human consumption is outside GST.

This question belongs to: Economy GK Economy Set 1
Question #3
The 'Financial Stability and Development Council' is chaired by:
A. RBI Governor
B. Prime Minister
C. SEBI Chairman
D. Union Finance Minister

Correct Answer: Option D


Explanation:
The Financial Stability and Development Council is chaired by the Union Finance Minister.

This question belongs to: Economy GK Economy Set 1