Indian Economy Gk Questions

However, Indian Economy is an essential component of the question paper of General Awareness, but its importance gets enhanced manifold in context of the examination conducted by SSC to recruit the Data Entry Operators at 10+2 level. The number of questions from this subject has been increased from the last 2 to 3 years of examination. From this subject the questions asked in the examination are related to the following topics: National Income of India, Planning in India, New Economic Policy, Poverty, Unemployment, Flagship Programmes of Government of India, Agriculture Industry, Money and Banking, Insurance, Indian Fiscal System, Union Budget, Tax Structure, International Economic Organisations, etc.

1.Which bank gives long term loan to farmers?

(a) NABARD (b) Land Development Bank (c) SBI (d) Rural banks

Ans.b

2.In 1921, the Presidency Banks of Bengal, Madras and Bombay were nationalised to give birth to

(a) Punjab National Bank (b) Syndicate Bank (c) State Bank of India (d) Punjab and Sindh Bank

Ans.c

3.The oldest stock exchange of India is

(a) Bombay Stock Exchange (b) Ahmedabad Stock Exchange (c) Bangalore Stock Exchange (d) Hyderabad Stock Exchange

Ans.a

4.Which among the following formulates fiscal policy?

(a) RBI (b) Finance Ministry (c) SEBI (d) Planning Commission

Ans.b

5.Global capital flows to developing countries increased significantly during the nineties. In view of the East Asian financial crisis and Latin American experience, which type of inflow is good for the host country?

(a) Commercial Loans (b) Foreign Direct Investment (c) Foreign Portfolio Investment (d) External Commercial Borrowings

Ans.b

6.’Globalisation of Indian Economy’ means

(a) stepping up external borrowings (b) establishing Indian business units abroad (C) having minimum possible restrictions on economic relations with other countries

(d) giving up programmes of import substitution

Ans.c

7.Which of the following bodies finalises the Five Year Plan proposals ?

(a) Planning Commission (b) Union Cabinet (C) National Development Council (d) Ministry of Planning

Ans.c

8.The Five Year Plans of India intend to develop the country industrially through

(a) the public sector (b) the private sector (c) the public, private, joint and Cooperative sectors(d) increasing collaboration with non-resident Indians

Ans.c

9.Consider the following factors regarding an industry

1.Capital investment 2. Business turnover 3. Labour force 4. Power consumption

Which of these determine the nature and size of the industry?

(a) 1, 3 and 4 (b) 1, 2 and 4 (c) 2, 3 and 4 (d) 2 and 3

Ans.a

10.Which of the following is not a part of machinery that settles industrial disputes?

(a) Concialiation Officers (b) Board of Concialiation (C) Wege Courts (d) Works Committee

Ans.c

11.Planning in India derives its objectives from

(a) Fundamental Rights (b) Directive Principles of State policy (c) Fundamental Duties (d) Preamble

Ans.b

12.Most important source of capital formation in India has been

(a) household savings (b) public sector savings (c) government revenue surpluses (d) corporate savings

Ans.a

13.Which Committee’s recommendations are being followed for estimating Poverty Line in India?

(a) Dutt Committee (b) Chelliah Committee (c) Chakravorty Committee (d) Lakdawala Committee

Ans.d

14.Disguised unemployment in India is mainly related to

1.agricultural sector 2.rural area 3. factory sector 4. urban area

(a) 1 and 2 (b) 1 and 3 (c) 2 and 4 (d) 3 and 4

Ans.a

15.The Food For Work programme was renamed as

(a) Rural Landless Employment Guarantee Programme (RLEGP) (b) National Rural Employment Programme (NREP) (c) Jawahar Rozgar Yojana (JRY)

(d) Integrated Rural Development Programme (IRDP)

Ans.b

16. Devaluation’ means

(a) converting rupee into gold (b) lowering of the value of one currency in comparison of some foreign currency (c) making rupee dearer in comparison to some foreign currency (d) None of the above

Ans.b

17. Monetary policy is regulated by

(a) money lenders (b) Central Bank (c) private entrepreneurs (d) Government policy

Ans.b

18. Which one of the following forms the largest share of deficit of government of India Budget?

(a) Primary deficit (b) Budgetary deficit (c) Fiscal deficit (d) Revenue deficit

Ans.c

19. A Scheduled Bank is one which is included in the

(a) II Schedule of Banking Regulation Act (b) II Schedule of Constitution (c) II Schedule of Reserve Bank of India Act (d) None of the above

Ans.a

20. For regulation of the Insurance Trade in the country the Government has formed

(a) SEBI (b) Reserve Bank of India (C) Insurance Regulatory and Development Authority (d) General Insurance Corporation

Ans.c

21.Which of the following is not true about the Reserve Bank of India?

(a) It regulates the currency and credit system of India (b) It maintains the exchange value of the rupee (C) Foreign exchange reserves are kept by RBI (d) One rupee notes and coins are issued by RBI

Ans.d

22. If the price of an inferior good falls, its demano

(a) rises (b) falls (c) remains constant (d) Can be any of the above

Ans.c

23. Who is responsible for the collection 2 publication of monetary and financial information

(a) Finance Commission (b) Finance Ministry (c) Reserve Bank of India (d) Auditor and Comptroller General of India

Ans.c

24.An advalorem duty is a tax on the basis of

(a) the price of commodity (b) the unit of a commodity (c) the advertisement expenditure (d) the value added

Ans.d

 

 

 

 

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