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Table of Contents
BAISC FEATURES OF INDIAN ECONOMY MCQ
1. Which of the following statements is/are correct?
i. While a debenture is an ownership capital, a share capital is the credit to the company,
ii. While interest is paid on debentures, dividend is paid on shares.
a. i only
b. ii only
c. Both i and ii
d. Neither i nor ii
Ans. b
2. Which of the following statements is/are correct regarding Monetary Transmission?
i. It refers to the process by which a central bank’s monetary policy decisions are passed on to the financial markets.
ii. Rising Non Performing Assets (NPAs) and higher returns on small savings schemes may hinder effective monetary transmission.
iii. Lowering help of CRR and SLR requirements may ensure effective monetary transmission.
a. i and iii only
b. ii and iii only
c. i and ii only
d. i, ii and iii
Ans. d
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3…………….is/are not Capital account/s with reference to Balance of Payments (BOP),
i. External Commercial Borrowings
ii. Portfolio Investment
iii. Personal Income
iv. Non-Resident Deposits
a. i, ii and iii only
b. i, ii and iv only
c. iii only
d. i, ii, iii and iv
Ans. c
4. Which of the following statements regarding the Essential Commodities Act, 1955 is/are not correct?
i. Stockholding limits for commodities under the act are imposed by state governments and UTS.
ii. Stockholding of pulses is not regulated under the act.
a. i only
b. ii only
c. Both i and ii
d. Neither i nor ii
Ans. b
5. Universal Service Obligation Fund (USOF) ……….
i. has been accorded statutory status under Indian Telegraph (Amendment) Act, 2003.
ii. Funds Bharat Net project.
a. i only
b. ii only
c. Both i and ii
d. Neither i nor ii
Ans. c
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6. National Payment Corporation of India (NPCI)…………
i. is an umbrella organization for all retail payments system in India.
ii. is the nodal body for Bharat Bill Payment System.
iii. has launched Rupay, a new card payment system.
a. i and iii only
b. ii only
c. ii and iii only
d. i, ii and iii
Ans. d
7. Competition Act, 2002:
i. Prohibits such Mergers and Acquisitions as may adversely affect the competition within India.
ii. Does not apply to public sector enterprises.
iii. Replaced the Monopoly and Restrictive Trade Practices Act, 1969.
a. i only
b. ii and iii only
c. i and iii only
d. i, ii and iii
Ans. c
8. Which of the following statements is/are correct?
i. ‘Smart City Mission’ is based on area based strategy, whereas, AMRUT adopts a project based approach.
ii. Under the Smart City Mission, cities will be selected through a ‘City Challenge Competition.
iii. AMRUT provides state governments the flexibility to design schemes.
a. i only
b. i and ii only
c. ii and iii only
d. i, ii and iii
Ans. d
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9. Fiscal reform measures in India included
i. Increasing Tax-GDP ratio
ii. Expenditure Management
iii. Managing revenue deficit and fiscal deficit.
iv. Increasing liquidity in the economy
Find the correct combination from the given codes:
a. i, ii and iii are correct.
b. i and iv are correct.
c. ii, iii and iv are correct.
d. ii and iii are correct.
Ans. a
10. Match the following context:
| List-I | List-II |
| A. Fiscal Deficit | i. Revenue and interest receipts minus revenue expenditure. |
| B. Revenue Deficit | ii. Revenue receipts and recovery of loans and other receipts minus total expenditure. |
| C. Budgetary Deficit | iii. Receipts minus disbursement in capital account. |
| D. Capital Deficit | iv. Total receipts minus Total disbursements. |
Codes
A B C D
a. i ii iii iv
b. ii i iv iii
c. iii ii iv i
d. iv iii i ii
Ans. c
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11 Match List-I with List-II
| List-I (Institution) | List-II (year of establishment) |
| A. R.B.I. | i. 1935 |
| B. N.A.B.A.R.D. | ii. 1982 |
| C. Planning Commission | iii. 1950 |
| D. F.C.I | iv. 1964 |
Codes
A B C D
a. i ii iii iv
b. iii iv ii i
c iv ii i iii
d. ii i iii iv
Ans. a
12. Match the following:
| List-I | List-II |
| A. Mid-day meal scheme | i. 2006 |
| B. Implementation of MNREGA | ii. 1995 |
| C. Cash Reserve Ratio Commission | iii. Finance |
| D. Divisible Taxes | iv. Reserve Bank of India |
Codes
A B C D
a. i ii iii iv
b. ii i iv iii
c iv ii iii i
d. iii iv i ii
Ans. b
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13. Assertion (A): Financial inclusion is desirable to help weaker sections of society in the country.
Reason (R): Investment activity needs to be promoted to facilitate access to development benefits to masses.
Codes:
a. Both (A) and (R) are correct and (R) is not the correct explanation of (A).
b. Both (A) and (R) are correct and (R) is the correct explanation of (A).
c. (A) is not correct, but (R) is correct.
d. (A) is correct, but (R) is not correct.
Ans. b
14. Assertion (A): Gold standard was finally given up after the Second World War.
Reason (R): Countries had different rates of inflation.
Codes:
a. Both (A) and (R) are correct and (R) is the correct explanation of (A). is not correct
b. Both (A) and (R) are correct and (R) is not correct explanation of (A).
c. (A) is correct, but (R) is not correct.
d. (A) is not correct, but (R) is correct.
Ans. b
15. Rearrange the origin of money in a sequential order:
i. Cheque
ii. Metallic money
iii. Commodity money
iv. Paper money
Codes:
a. iv, i, iii, ii
b. i, iii, ii, iv
c. iii, ii, iv, i
d. ii, iv, i, iii
Ans. c
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16. Which of the following is/are the reasons for unbalanced urbanization in India?
i. Uncontrolled growth of population has made plans for public facilities ineffective.
ii. Real estate businesses are focusing on basic infrastructure for the public rather than building high-end luxury homes.
a. Only i
b. Only ii
c. Both i and ii
d. Neither i nor ii
Ans. a
17. Match the following context:
| List-I | List-II |
| A. National Agricultural Policy | i. 2004 |
| B. Marine Fishing | ii. 1978 |
| C. New Foreign Trade Policy | iii. 2000 |
| D. Seventh Finance Commission | iv. 2015 |
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Codes
A B C D
a. ii i iii iv
b. iv iii i ii
c i iv ii iii
d. iii i iv ii
Ans. d
18. Assertion (A): In the heydays of planning Amartya Sen advocated the adoption of capital intensive technique for Indian economy.
Reason (R): India was a relatively labour abundant country.
a. Both (A) and (R) are true and (R) is the explanation
b. (A) is true but (R) is false.
c. Both (A) and (R) are true but (R) is not the correct explanation.
d. (A) is false but (R) is true.
Ans. c
19. Assertion (A): Indian economy is on a higher growth trajectory in the Post-Reforms era.
Reason (R): Trade is an engine of growth.
a. (A) is true and (R) is false.
b. Both (A) and (R) are true but (R) is not the explanation
c. Both (A) and (R) are true and (R) is the explanation.
d. Both (A) and (R) are true.
Ans. b
20. Assertion (A): Jharkhand, Chattisgarh, Orissa are poverty ridden states of India.
Reason (R): These states are rich in mineral resources.
a. (A) is false, but (R) is true.
b. Both (A) and (R) are true and (R) is the explanation.
c. Both (A) and (R) are true but (R) is not the correct explanation.
d. (A) is true, but (R) is false.
Ans. c
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21. Arrange these statements according to their implementation:
i. Commission on agricultural costs and prices.
ii. The Foodgrains enquiry committee.
iii. State trading of food grain.
iv. Food grain policy committee.
Codes:
a. i, ii, iii, iv
b. ii, i, iv, iii
c. iii, ii, i. iv
d. iv, ii, iii, i
Ans. b
22. The rights recognized under the Scheduled Tribes and Other Traditional Forest Dwellers (Recognition of Forest Rights) Act, 2006 are……………
i. Right to hold and live in the forest land for habitation or for self-cultivation for livelihood.
ii. Right of ownership, access to collect, use and dispose of minor forest produce.
iii. Right to protect, regenerate or conserve or manage any community forest resource.
iv. Right to convert forest villages into revenue villages.
a. i, ii and iii only
b. i and iii only
c. ii and iv only
d. i, ii, iii and iv
Ans. d
23. Sukanya Samriddhi Scheme ……..
i. Has been launched as sub-scheme under Pradhanmantri Jan Dhan Yojana.
ii. Ensures to open account under the scheme in both commercial banks and post offices.
iii. Does not allow for withdrawal from the account before the girl child has reached 18 years of age.
a. i and ii only
b. ii and iii only
c. iii only
d. None
Ans. b
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24. Accredited Social Health Activist (ASHA) workers……..
i. Are community health workers instituted by Ministry of Women and Child Development.
ii. Is mandatory that ASHA workers must be qualified up to 10 standard.
iii. Are authorized to perform minor operations in case of emergency.
a. i and iii only
b. ii and iii only
c. ii only
d. None
Ans. d
25. Which of the following statements is/are correct regarding Sarva Shiksha Abhiyan?
i. It aims to bridge all gender and social category gaps at both primary and elementary level.
ii. It provides for establishment of early childhood care and education centers in schools.
iii. It aims recruitment of 50% women teachers.
iv. The governing council of the scheme will be chaired by Minister of Human Resource and Development.
a. i and iii only
b. i, ii and iii only
c. ii and iv only
d. i, ii, iii and iv
Ans. b
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26. Which of the following statements is/are correct regarding ‘Indira Gandhi Matritva Sahyog Yojana?
i. It aims to provide cash assistance to pregnant women to meet their health and nutrition needs.
ii. It compensates for wage loss to mother during pregnancy and period of lactation.
iii. All organized sector employees are excluded from the scheme.
a. i and ii only
b. ii and iii only
c. iii only
d. i, ii and iii
Ans. a
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27. The advantages of Mid Day Meal scheme is/are………
i. Reducing drop-out rates in schools.
ii. Encouragement of children, belonging to disadvantaged sections, to attend school.
iii. Nutritional support to children in drought affected areas during summer vacations.
iv. Enhanced employment opportunities for women.
a. i, ii and iii only
b. i, ii and iv only
c. iii and iv only
d. i, ii, iii and iv
Ans. d
28. Which of the following statements is/are correct regarding Gender Budgeting in India?
i. It is an accounting exercise that demarcates a separate budget for women.
ii. To institutionalize gender budgeting, all central Ministries/Departments are required to set up Gender Budgeting Cells.
iii. Ministry of Women and Child development is the nodal agency for gender budgeting in India.
a. i only
b. i and ii
c ii and iii only
d i, ii and iii
Ans. c
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29. Which of the following pair/s in respect of Scheme is/are correctly matched.
i. Swadhar: addresses socioeconomic empowerment of all women.
ii. Saksham: addresses women livelihood.
iii. Swayamsiddha: addresses women victims of trafficking.
a. i and ii only
b. ii only
c. i and iii only
d. None
Ans. d
30. Pradhan Mantri Kaushal Vikas Yojana.
i. Shall be implemented through Public-Private partnerships.
ii. Will be implemented through National Skill Development Corporation.
a. i only
b. ii only
c. Both i and ii
d. Neither i nor i
Ans. c
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31. The targets of the Beti Bachao Beti Padhao Abhiyan is/are………..
i. To provide girl’s toilet in every school in 100 Child Sex Ratio (CSR) districts by 2017.
ii. To improve the Sex ratio at Birth in 100 gender critical districts by 10 points in a year.
iii. To increase the girl’s enrollment in secondary Implementation of Protection of Children from Sexual Offences (POCSO) Act 2012.
a. i and ii only iii.
b. i, ii and iv only
c. iii and iv only
d. i, ii, iii and iv
Ans. b
32. Which of the following statements regarding Pradhan Mantri Gram Sadak Yojana is not correct?
a. It aims to achieve complete rural connectivity through all-weather roads by 2019.
b.50% of the Cess on High Speed Diesel (HSD) is earmarked for this Programme.
c. Its works are executed by the State Agencies.
d. It comes under Ministry of Road Transport and Highways.
Ans. d
33. National Skill Development Agency.
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i. Is nodal agency for state skill development missions.
ii. Will work under the guidance of National Council on skill development.
iii. Will be chaired by a person of the rank and status of a cabinet minister.
a. i and ii only
b. i and iii only
c. ii and iii only
d. i, ii and iii
Ans. b
34. National Policy for Children……………….
i. Recognises every person below the age of sixteen years as a child.
ii. Identifies ‘Survival’ as an undeniable right of every child.
iii. Is monitored for its implementation by the National Commission for the Protection of Child Rights (NCPCR).
a. i and iii only
b. ii only
c. ii and iii only
d. i, ii and iii
Ans. b
35. The salient features of Mahatma Gandhi National Rural Employment Guarantee Act, 2005 is/are……….
i. It mandates that at least a third of the workers under the scheme should be women.
ii. It covers all the districts of the country.
iii. Panchayat Samiti recommends the work under the scheme.
iv. Social audit of works by Gram Sabha has been made mandatory.
a. i and iv only
b. i, ii and iii only
c. i, ii and iv only
d. ii, iii and iv only
Ans. c
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36. The government schemes related to minorities that are associated with skill development is/are…..
i. Jiyo Parsi
ii. Seeko aur Kamao
iii. Hamari Dharohar
iv. USTTAD
a. i and iii only
b. ii and iv only
c. ii, iii and iv only
d. i, ii, iii and iv
Ans. b
37. SWAYAM is …………..
a. A web portal where Massive Open Online Courses will be available.
b. A web portal for self certification of Online Vocational Courses.
c. An online portal for development of women and girl education programme.
d. An online platform for foreign universities to collaborate with Indian counterparts.
Ans. d
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38. Consider the following statements related to the different indexes launched by NITI Aayog:
i. National Index for Performance on Health Outcomes launched to rank States on the basis of their performance on measurable health indicators.
ii. India Innovation Index launched in association with Department of Industrial Policy & Promotion and CII to make India an innovation-driven economy.
Which of the above statements is/are correct?
a. Only i
b. Only ii
c. Both i and ii
d. Neither i nor ii
Ans. c
39. Assertion (A): India has a big potential demographic dividend.
Reason (R): India’s population growth rate is declining Codes:
a. Both (A) and (R) are correct and (R) is the correct explanation of (A).
b. (A) is correct, but (R) is not correct.
c. Both (A) and (R) are correct but (R) is not the correct explanation of (A).
d. (R) is correct, but (A) is incorrect.
Ans. c
40. Janani Suraksha Yojna…………..
i. Is a programme under the National Rural Health Mission (NRHM).
ii. Aims to reduce both maternal and neonatal mortality.
iii.Is a 100% Centrally Sponsored Scheme (CSS).
a. i and ii only
b. iii only
c. i, ii and iii
d. None
Ans. c
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41…………../are part/s of the National Pension Scheme (NPS).
i. Central Government employees.
ii. State Government employees.
iii. Employees of private organizations.
iv. Employees of unorganized sectors.
a. i and ii only
b. i, ii and iii only
c. iii and iv only
d. i, ii, iii and iv
Ans. d
42. Which of the following statements is/are correct regarding Essential Services Maintenance Act (ESMA)?
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i. Its objective is to ensure continuous delivery of essential services.
ii. The list of essential services is uniform across the States.
iii. Both Central and State Governments can ban strikes in essential services..
a. i and ii only
b. ii and iii only
c. i and iii only
d. i, ii and iii
Ans. c
43. Comprehend the following statements to justify “Make in India” programme.
i. It concentrates on 25 industries/sectors.
Ii.100 per cent FDI has been allowed in railway infrastructure projects.
Of the above, which is/are correct?
a. Only a is correct
b. Only b is correct
c. Both a nor b are correct
d. Neither a and b are correct
Ans. c
44. Which of the following statements is/are true about the Securities and Exchange Board of India?
i. It was established in the year 1988 and given statutory powers on 30 January 1990 through the SEBI Act, 1990.
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ii. After an amendment of 1999, collective investment scheme brought under SEBI except NIDHI, chit fund and cooperatives.
iii. Ajay Tyagi was appointed chairman on 10 January 2017 replacing UK Sinha.
iv. There is a Securities Appellate Tribunal which is a three-member tribunal and is headed by Mr. Justice Manjula Chellur, a former judge of the Bombay High Court.
a. Only iii and iv
b. Only i and ii
c. Only ii and iii
d. Only i and iv
Ans. c
45. With reference to the Sharada Prasad Committee , consider the following statements-
i. It has been constituted by the Ministry of Skill Development and Entrepreneurship.
ii. It has pointed out that there has been a marked increase in the skill level of the country post the launch of Skill India.
iii. It has recommended the Government to form an oversight mechanism to ensure the prevention of conflict of interest in NSDC’s role.
Which of the following are correct?
a. Only i and ii
b. Only ii and iii
c. Only i and iii
d. None of these
Ans. c
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46. With respect to the Securities and Exchange Board of India, which of the following is/are the functions performed:
i. regulating the business in stock exchanges.
ii. Prohibiting insider trading in securities.
iii. Promoting investors’ education and training of intermediaries of securities markets.
iv. Promoting insider trading in securities.
Select the correct answer using the code given below:
a. i and ii only
b. i, ii and iii only
c. ii and iii only
d. i, ii, iii and iv
Ans. b
47. With reference to the Competition Commission of India, consider the following Statements:
i. It aims to curb competition in the markets of India.
ii. It is a statutory body.
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iii. It works under the Ministry of Commerce and Industry
Select the correct answer using the code given below:
a. i and ii only
b. i and iii only
c. ii only
d i, ii and iii
Ans. c
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48. Which of the following statements is/are correct?
i. The Exempt, Exempt, Exempt (EEE) model is likely to give higher returns on investment on Exempt, Tax (EET) model.
ii. The EET model incentivizes postponement of consumption.
iii. EEE status is enjoyed by long term investment vehicles such as Public Provident Fund (PPF).
a. i and ii only
b. i and iii only
c. ii and iii only
d. i, ii and iii
Ans. d
49. Which of the following statements is/are true regarding Development based budget?
i. It aims at improving the productivity of government departments and minimizes the wastages.
ii. This form of budgeting assumes that there are no balances to be carried forward or there are no expenses that are pre-committed.
Select the correct option.
a. Only i
b. Only ii
c. Both
d. None
Ans. c
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50. With reference to the achievement of growth of Indian economy at a rate of 8-10 per cent, consider the following statements:
i. Addressing the exit problem faced by the companies will assist in growth of economy.
ii. Investment in manufacturing and education sectors will assist in growth of economy.
iii. Reforms in a agriculture sector will assist in growth of economy.
Select the correct answer using the code given below.
a. i and ii only
b. i only
c. i and iii only
d. i, ii and iii
Ans. c
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51. Consider the following statements with regard to power sector in India:
i. The demand for power is growing at a rate higher than the GDP growth rate.
ii. The power generation from coal is least among all the sources of power.
iii. Commercial energy consumption is higher than non commercial energy consumption.
Which of the above, statements is/are correct?
a. i and iii only
b. i and ii only
c. iii only
d. i, ii and iii
Ans. a
52. In the context of Indian economy, which of the following is not an example of export of services?
i. An Indian tourist visiting Mauritius.
ii. Bharti Airtel setting up its operations in Africa.
iii. An Indian IT company selling software to a Chinese firm.
iv. A Canadian national visiting India for liver transplant.
Select the correct answer using the code given below.
a. i, ii and iii only
b. i only
c. ii, iii and iv only
d. ii and iv only
Ans. b
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53. The construction of Human Development Index (HDI) on reference with:
i. Life expectancy at birth, real GDP per capita, gross enrollment ratio, adult literacy rate.
ii. Life expectancy at birth, real GDP per capita, combined gross enrollment ratio, adult literacy rate.
iii. Life expectancy, GDP per capita, infant mortality rate, literacy rate.
iv. GDP per capita, infant mortality rate, literacy rate.
Codes:
a. i and ii
b. i and iii
c. only iii
d. i, ii, iii and iv
Ans. c
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54. Consider the following problems in the Indian Economy:
i. Persistence of the Twin Balance Sheet Problem.
ii. Legacy issues of retroactive taxation.
Which of the following challenges of the Indian Economy are these manifestations of?
a. Inefficient redistribution in the economy
b. Weak state capacity in delivering essential services
c. Ambivalence about protecting the property rights
d. Neglect of the private sector
Ans. d
55. Jan Suraksha Yojana includes………….
i. Suraksha Bima Yojana
ii. Jeevan Jyoti Bima Yojana
iii. Atal Pension Yojana
iv. National Pension Scheme
v. Employee Provident Fund
a. i, ii and iii only
b. i, ii, iii and iv only
c. iv and v only
d. i, ii, iii, iv and v
Ans. a
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56. Which of the following statements is/are correct regarding Sansad Adarsh Gram Yojana (SAGY)?
i. There has not been any separate allocation of funds for this scheme.
ii. Both nominated members and MPs representing
urban constituencies can choose a village from any district of the country.
iii. Implementation and monitoring of the scheme will be done by the Gram Panchayats.
a. i only
b. 1 and 2 only
c. ii and iii only
d. i, ii and iii
Ans. a
57. ‘SEHAT’ scheme of the government of India.
a. Is a scheme to ensure crop health.
b. Is a scheme for tele-medicine coverage.
c. Is a scheme for promoting veterinary health.
d. Is a scheme for adolescent health care.
Ans. d
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58. Which among the following is not the prime objective of National Water mission?
a. Assessment of impact of climate change on water resource.
b. Promotion of basin level integrated water resources management.
c. Focused attention to vulnerable areas including over-exploited areas.
d. It aims to link water basin of northern and southern rivers.
Ans. d
59. Which of the following are part of Swachh Bharat abhiyaan?
i. All the statutory towns will be covered.
ii. It aims to remove the system of manual scavenging.
iii. It comes under the purview of both Ministry of Urban Development and Ministry of Drinking Water and Sanitation.
a. i and ii only
b. ii and iii only
c. i and iii only
d. i, ii and iii
Ans. d
60. Which of the following factors/policies were affecting the price of rice in India in the recent past?
i. Minimum Support Price
ii. Government’s trading
iii. Government’s stockpilling
iv. Consumer subsidies Select the correct answer using the code given below:
a. i, ii and iv only
b. i, iii and iv only
c. ii and iii only
d. i, ii, iii and iv
Ans. d
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61. Under the Kisan Credit Card scheme, short-term credit support is given to farmers for which of the following purposes?
i. Working capital for maintenance of farm assets harvesters.
ii. Purchase of combine tractors and mini-trucks requirements of farm.
iii. Consumption households.
iv. Post-harvest expenses.
v. Construction of family house and setting up of village cold storage facility.
Select the correct answer using the code given below:
a. i, ii and v only
b. i, iii and iv only
c. ii, iii, iv and v only
d. i, ii, iii, iv and v
Ans. b
62. Consider the following statements:
i. The weightage of food in Consumer Price Index (CPI) is higher than that in Wholesale Price Index (WPI).
ii. The WPI does not capture changes in the prices of
services, which CPI does.
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iii. The Reserve Bank of India has now adopted WPI as its key measure of inflation and to decide on changing the key policy rates
Which of the following statements given above is/are correct?
a. i and ii only
b. ii only
c. iii only
d. i, ii and iii
Ans. d
63. With reference to the Indian economy, consider the following statements:
i. Commercial Paper is a short-term unsecured promissory note.
ii. Certificate of Deposit is a long-term of instrument issued by RBI to a corporation.
iii. Call Money is a short-term finance used for interbank transactions.
iv. Zero-Coupon Bonds’ are the interest bearing short term bonds issued by the Scheduled Commercial Banks to corporations.
Which of the following statements given above is/are correct?
a. i and ii only
b. iv only
c. i and iii only
d. ii, iii and iv only
Ans. c
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ALSO VISIT: INDIAN ECONOMY
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DOWNLOAD MOBILE APPLICATION TO LEARN MORE: BAISC FEATURES OF INDIAN ECONOMY MCQ
DOWNLOAD MOBILE APPLICATION TO LEARN MORE: BAISC FEATURES OF INDIAN ECONOMY MCQ