231. When did India become a member of the IMF?

a) 1947
b) 1956
c) 1960
d) 1951

Answer: 1947

232. Euro is the currency of European Union. When did it come into being?

a) 1999
b) 1995
c) 2000
d) 2001

Answer: 1999

233. When did the Foreign Exchange Regulation Act (FERA) come into being?

a) 1973
b) 1975
c) 1980
d) 1981

Answer: 1973

234. When did Regional Rural Banks start functioning in India?

a) 1975
b) 1947
c) 1956
d) 1960

Answer: 1975

235. In India, income tax is levied by

a) Union Government
b) State Governments
c) Ministry of Finance
d) RBI

Answer: Union Government

236. The Securities and Exchange Board of India (SEBI) was established in

a) 1992
b) 1947
c) 1990
d) 1976


237. Which Five-year Plan is being implemented at present?

a) Eleventh
b) Eighth
c) Ninth
d) Tenth

Answer: Eleventh

238. Which of the following is not a direct tax?

a) Sales tax
b) Income tax
c) Wealth tax
d) Estate duty

Answer: Sales tax

239. Who is the ex-officio chairman of Planning Commission?

a) Prime Minister
b) President
c) Chief Justice of Supreme Court
d) Speaker of Lok Sabha

Answer: Prime Minister

240. The Indian economy is

a) Capitalist
b) Socialistic
c) Mixed
d) Federal

Answer: Mixed

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