Indian Economy MCQs

71. Which tax is imposed on imported goods?
A. Income Tax
B. Customs Duty
C. GST Compensation Cess only
D. Professional Tax
Answer: B

72. The Union Budget is presented annually by the:
A. RBI Governor
B. Finance Minister
C. Prime Minister
D. President
Answer: B

73. Revenue Receipts include:
A. Borrowings
B. Tax and Non-Tax Revenue
C. Sale of assets only
D. Recovery of loans only
Answer: B

74. Which of the following is a Capital Receipt?
A. Income Tax
B. GST
C. Government Borrowings
D. Customs Duty
Answer: C

75. Which deficit excludes interest payments?
A. Revenue Deficit
B. Fiscal Deficit
C. Primary Deficit
D. Budget Deficit
Answer: C

76. Fiscal Deficit indicates:
A. Excess of imports over exports
B. Government’s total borrowing requirement
C. Fall in tax collection only
D. Increase in inflation only
Answer: B

77. Which bank is called the ‘Lender of Last Resort’?
A. SBI
B. RBI
C. NABARD
D. PNB
Answer: B

78. Which of the following is a commercial bank?
A. RBI
B. SBI
C. NITI Aayog
D. SEBI
Answer: B

79. Which bank is India’s largest public sector bank?
A. Punjab National Bank
B. Bank of Baroda
C. State Bank of India
D. Canara Bank
Answer: C

80. The headquarters of the Reserve Bank of India is located in:
A. New Delhi
B. Mumbai
C. Kolkata
D. Chennai
Answer: B