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NATURE OF INDIAN ECONOMY MCQ
1.National Small Savings Fund is a part of:
(a)Consolidated Fund of India
(b)Pubic Account of India
(c)Contingency Fund of India
(d)None of these
Ans. (b)
2……was known as the father of Operation Flood?
(a)Dr. Norman Borlaug
(b)Dr. M.S. Swaminathan
(c)Dr. Verghese Kurien
(d)Dr. William Gande
Ans. (c)
3.The Yellow Revolution in India had increased the production of:
(a)Fishes
(b)Wheat
(c)Pulses
(d)Oilseeds
Ans. (d)
4.The concept of Economic Planning in India is derived from:
(a)USA
(b)Russia
(c)UK
(d)Australia
Ans.(b)
5.In which year was National Development Council established?
(a)1949
(b)1950
(c)1951
(d)1952
Ans. (d)
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6.If a government is unable to pass the budget in Lok Sabha, then:
(a)a totally new budget is presented
(b)the budget is revised and presented again
(c)the government has to resign
(d)None of the above
Ans. (c)
7.The Economic Survey is compiled by the:
(a)Office of economic advisor
(b)Central Statistical office (CSO)
(c)National Sample Survey Organization (NSSO)
(d)Department of economic affairs
Ans. (d)
8.Gross budgetary support means:
(a)centre’s contribution to budget
(b)assistance provided by the Centre to five year plan.
(c)expenditure in budget on social schemes
(d)None of these
Ans. (c)
9.India maintains buffer stocks of food grains which helps in:
(a)providing food security
(b)running PDS
(c)Both (a) and (b)
(d)Neither (a) nor (b)
Ans.(c)
10.Where is the headquarters of IRDA situated?
(a)Bengaluru
(b)Hyderabad
(c)Mumbai
(d)New Delhi
Ans.(b)
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11.Aggregate demand or final goods in an economy is generated though:
(a)Consumption Expenditure
(b)Government Expenditure
(c)Both (a) and (b)
(d)Neither (a) nor (b)
Ans. (c)
12.Which of the following is/are true regarding shift in sectors of Indian economy?
(a)Dominance of the sector has shifted from primary to secondary and then to tertiary.
(b)Manufacturing sector constitute the smallest proportion both in total GDP and employment as compared to other sectors.
(c)Disguised unemployment is very prominent in agricultural sector.
(d)Both (a) and (c)
Ans.(d)
13.Which of the following can be grouped under economic activities?
(i)Tutor teaching a student free of cost.
(ii) Government providing scholarship.
(iii) Philanthropist giving out charity to NGOs.
Mark the correct Code.
(a)i and ii
(b)Only ii
(c)Only iii
(d)None of these
Ans.(d)
- Which of the following committee is for inflation targeting?
(a)Arvind Subramanian Committee
(b)Urjit Patel Committee
(c)Narayan governance committee
(d)Kelkar Task force
Ans.(b)
15.CPI is calculated by which ministry of India?
(a)Ministry of Finance
(b)Ministry of Statistics and Programme Implementation
(c)Ministry of Labour
(d)None of the above
Ans.(b)
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- Which of the following are introduced in the Parliament in the process of passing the budget?
(a)Demand of grants
(b)Vote on account
(c)Both (a) and (b)
(d)Neither (a) nor (b)
Ans.(c)
17.Which of the following is not a part of Capital account of the budget?
(a)Salaries of government employees
(b)Recovery of loans by central government
(c)Investment in shares of PSUs
(d)None of the above
Ans.(a)
18.Primary Deficit is denoted by:
(a)Revenue Expenditure – Revenue Receipts
(b)sum of the net increase in holdings of treasury bills of the RBI and its contributions to the market borrowing of the government
(c)Budgetary Deficit + Govt. market borrowings and liabilities
(d)Fiscal Deficit – Interest Payments
Ans.(d)
19.The Tendulkar Committee Report is related to:
(a)Banking Inclusion
(b)Poverty line
(c)Both (a) and (b)
(d)Neither (a) nor (b)
Ans.(b)
20.India’s first operational export processing zone (EPZ) was at:
(a)Kandla
(b)Ahmedabad
(c)Surat
(d)Mumbai
Ans.(a)
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21.With which of the following is the Abid Hussain Committee related to?
(a)Reform in small industries
(b)Reform in middle level industries
(c)Reform in taxes
(d)Reform in government projects
Ans.(a)
22.In which year was the Ayushman Bharat Yojana launched?
(a)2015
(b)2016
(c)2017
(d)2018
Ans.(d)
23.The soon-to-be-launched Tokenisation is related to:
(a)Card transaction
(b)NPA resolution
(c)Banking refinancing
(d)None of these
Ans. (a)
24.The Ayushman Bharat Yojana will provide an insurance cover upto:
(a)₹3 lakh
(b)₹4 lakh
(c)₹5 lakh
(d)₹6 lakh
Ans.(c)
25.Who had compounded the “Big Push Model”?
(a)Dr. Abhishek Mathur
(b)R. Rodan
(c)Jack Hamilton
(d)None of these
Ans.(b)
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26.The Community Development Program was started in India on:
(a)2nd October, 1950
(b)2nd October, 1951
(c)2nd October, 1952.
(d)2nd October, 1953.
Ans.(c)
27.Which one of the following sources of renewable energy has greatest potential in India?
(a)Solar power
(b)Biomass power
(c)Small Hydel power
(d)Energy recovery from waste
Ans.(a)
28.How can the Indian economy be described?
(a)A backward and stagnant economy
(b)A developing economy
(c)An underdeveloped economy
(d)A developed economy
Ans.(b)
29.Which of the following committees recommended checking fiscal deficit?
(a)Bimal Jalan Committee
(b)Parthasarthy Shome Committee
(c)Vijay Kelkar Committee
(d)Kaushik Basu Committee
Ans.(c)
30.Which among the following is the parliamentary committee for the auditing of the expenditure of the Government of India?
(a)Public Accounts Committee
(b)Committee on Public Undertakings and DRSCs
(c)Estimates Committee
(d)Business Advisory Committee
Ans.(a)
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31.The Chakravyuh Challenge has been a menace for the Indian economy. Which of the following is/are measures by the Government to counter this problem?
(a)Recapitalization of PSBs
(b)Promoting competition via the private sector
(c)Handing over idle land from PSUs to start-up companies
(d)None of these
Ans.(b)
32.Which of the following macro economics indicators are calculated with a base year of 2011-12?
(i)IIP
(ii) WPI
(iii) CPI
(iv) National Accounts
(a)ii, iii and iv
(b)iii and iv
(c)i, ii and iv
(d)i, ii, iii and iv
Ans.(d)
33.The chief regulator of the ‘Index Futures’ market In India is
(a)Securities and Exchange Board of India (SEBI)
(b)Clearing Corporation of India (CCI)
(c)Insurance Regulatory and Development Authority of India (IRDA)
(d)Forward markets Commission (FMC)
Ans.(d)
34.Which of the following Institution is responsible for protection of the interests of Investors In securities and to promote the development of the securities market in India?
(a)PFRDA
(b)RBI
(c)IRDA
(d)SEBI
Ans.(d)
35.With which of the following is the Malegam Committee associated?
(a)Know Your Customer Rules
(b)Microfinance
(c)Targeted Public Distribution system
(d)Direct Benefit Transfer
Ans.(b)
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36.Who among the following cannot be a partner in a partnership firm?
(a)Manager of a Hindu Undivided Family
(b)Another partnership firm
(c)Non-citizens.
(d)A minor
Ans.(d)
37.Which of the following categories does not come under Priority Sector Lending in India?
(a)Education
(b)Housing
(c)Export credit
(d)Health
Ans.(d)
38.Which of the following statements is not correct regarding Headline Inflation in India?
(a)It is a measure of the total inflation within an economy
(b)It doesn’t take account of service sector
(c)It differs from core inflation
(d)It is also known as underlying inflation
Ans.(d)
39.NREGA’ stands for:
(a)National Rural Employment Guarantee Act
(b)New Rural Enterprise Growth Act
(c)National Rural Empowerment Guarantee Act
(d)New Rural Economic Growth Act
Ans.(a)
40.Which one of the following measures of Fiscal Reforms, has Government of India adopted?
(a)Bringing down fiscal deficit to a particular level by an Act of Law
(b)Fixing higher rate of growth
(c)Allocation of more funds to job oriented schemes
(d)Allocation of more funds to provide education to children who are 6-14 years of age
Ans.(a)
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41.Which of the following acts is introduced for the purpose of sustainable growth?
(a)Water (Prevention and Control of Pollution) Act
(b)Narcotics and Psychotropic Substance Act
(c)Foreign Exchange Management Act
(d)Banking Regulation Act
Ans.(a)
- Which of the following organizations is established mainly to promote Micro, Small & Medium Industrial sector in India?
(a)NABARD
(b)SIDBI
(c)IDBI Bank
(d)EXIM Bank
Ans.(b)
43.Which of the following schemes is launched to provide prenatal and postnatal care to mother and child?
(a)National Mission for Protein Supplements
(b)Initiative on Vegetable Clusters
(c)Promotion of Nutri Cereals
(d)Janani Suraksha Yojana
Ans. (d)
44.Which of the following statements about the Indian Economy is correct?
(a)Indian economy is as developed as that of China
(b)About 70% Indians are involved in some type of self-employment and are the owners of some or the other micro or small enterprise
(c)In India single biggest employment is agriculture and allied activities
(d)About 48% Indian workforce is employed in foreign countries or in organizations assisted by foreign capital
Ans. (c)
45.What is an Indian Depository Receipt?
(a)A deposit account with a Public Sector Bank
(b)A depository account with any of Depositories in India (c) An instrument in the form of depository receipt created by an Indian depository against underlying equity shares of the Issuing company
(c)An instrument in the form of deposit receipt issued by Indian depositories
Ans.(c)
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46.For AePS, an IIN is required. What is the full form of the 2nd ‘1’?
(a)Issuer
(b)Issuing
(c)Identification
(d)Identifier
Ans.(c)
47.The NSAP is in confirmation with the Article …… of the Constitution.
(a)38
(b)39
(c)40
(d)41
Ans.(d)
48.The proposal to set up a separate entity to regulate payments and settlements was made by the Committee.
(a)Sumit Bose
(b)Ratan Watal
(c)Deepak Mohanty
(d)H.R. Khan
Ans.(b)
49.When was the Ministry of AYUSH formed?
(a)2012
(b)2013
(c)2014
(d)2015
Ans.(c)
50.For AePS, the IIN is issued to the:
(a)Customers
(b)Banks
(c)Merchants
(d)ATMs
Ans.(b)
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51.What are the inputs required for AePS?
(a)IIN
(b)Aadhaar Number
(c)Fingerprint
(d)All of these
Ans.(d)
52.Which of the following was recommended by the Ackworth Committee in British India?
(a)Banning of the vernacular press
(b)Bringing up Dyarchy in the provinces
(c)Separating of the Railways and General Budget
(d)None of these
Ans.(c)
53.The restructuring of corporate debts of viable entities the responsibility of:
(a)Debts Recovery Appellate Tribunal
(b)Board for Industrial and Financial Reconstruction
(c)CDR Empowered Group
(d)Reserve Bank of India
Ans. (c)
54.Which of the following is a recommendation of the Kelkar Report on gas pricing?
(a)Natural resources should be priced at the highest price possible in the market
(b)There should be import-linked pricing for domestic natural gas
(c)Natural gas prices should be free from government intervention
(d)Both (a) and (c).
Ans.(d)
55.For Inflation Indexed National Saving Securities Cumulative (IINSS-C), Inflation rate is based on:
(a)Wholesale Price Index (WPI)
(b)Consumer Price Index (CPI)
(c)Producer Price Index (PPI)
(d)Retail Price Index (RPI)
Ans.(b)
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56.’Sagarmala’ is a name associated with:
(a)A drilling wrestle
(b)A project of port development
(c)Oil well in Indian Ocean
(d)None of the above
Ans.(b)
57.As per recent figures, Infant Mortality Rate in India has come down by few points. Which organisation/agency compiles this data?
(a)NITI Aayog
(b)Ministry of Rural Development
(c)Ministry of Social Welfare
(d)Census Commission of India
Ans.(d)
58.Ten Rupee notes contain the signature of:
(a)Finance Secretary, GOI
(b)Chairman, State Bank of India
(c)Governor, Reserve Bank of India
(d)Finance Minister, GOI
Ans.(c)
59.IRDA is an autonomous apex statutory body which regulates and develops the insurance Industry in India. IRDA is headquartered at…….
(a)Bengaluru, Karnataka
(b)Mumbai, Maharashtra
(c)New Delhi, Delhi
(d)Hyderabad, Telangana
Ans.(d)
60.An agency which holds electronic records of insurance policies issued to individuals is known as:
(a)Insurance Depository
(b)Insurance Attorney
(c)Stock Insurance Company
(d)Insurance Repository
Ans.(d)
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61.BSDA stands for:
(a)Basic Securities Demat Account
(b)Bombay Soft Drinks Association
(c)Basic Services Demat Account
(d)Basic Services Development Authority
Ans.(c)
62.Which of the following is not a Credit rating agency of India?
(a)CIBIL
(b)ICRA Limited.
(c)Fitch
(d)Onicra
Ans.(c)
63.Which of the following types of accounts are insured by DICGC?
(a)Deposits of foreign Governments:
(b)Recurring Deposits
(c)Deposits of Central/State Governments:
(d)Inter-bank deposits
Ans.(b)
64.What is Hawala?
(a)Full details of a subject
(b)Illegal transaction of foreign exchange
(c)Illegal trading of shares
(d)Tax evasion
Ans.(b)
65.According to 2011 census, number of female per 1000 female number is:
(a)939
(b)940
(c)942
(d)946
Ans.(b)
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- Which Union Territory has the Lowest Population in 2011 census?
(a)Delhi
(b)Chandigarh
(c)Pondicherry
(d)Lakshadweep
Ans.(d)
67.According to 2011 Census, Indian population is:
(a)116.01 crore
(b)121.01 crore
(c)123.67 crore
(d)126.31 crore
Ans.(b)
68.Narsimham Committee was related to:
(a)High Education Reforms
(b)Tax Structure Reforms
(c)Banking Structure Reforms
(d)Planning Implementation Reforms
Ans.(c)
- The government’s evaluation index will measure social empowerment of people at the:
(a)Panchayat level
(b)Block level
(c)District level
(d)State level
Ans.(a)
70.KVIC (Khadi and Village Industry Commission) was established in:
(a)Third Plan
(b)Fourth Plan
(c)Second Plan
(d)First Plan
Ans.(c)
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71.As per Census 2011, which of the following has the highest density of population?
(a)Delhi
(b)Chandigarh
(c)Pondicherry
(d)West Bengal
Ans.(a)
72.The slogan ‘Garibi Hatao’ was included in:
(a)First Plan
(b)Fifth Plan
(c)Fourth Plan
(d)Second Plan
Ans.(b)
- Indian Financial sector is made up of both the organised as well as the unorganised segments. Which of the following belongs to the unorganised segment?
(a)Chit Fund
(b)Micro Finance Companies
(c)Money-lenders
(d)Co-operative Credit Societies
Ans.(c)
74.As per Census 2011 data which of the following state has the lowest literacy in India?
(a)Bihar
(b)Arunachal Pradesh.
(c)Nagaland
(d)Sikkim
Ans.(a)
75.What is a ‘limited company?
(a)In which shareholders processes the ownership limited to their paid up capital
(b)In which shares are issued
(c)A company of Government
(d)None of the above
Ans.(a)
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76.Which is true for Finance Commission?
(a)It is statutory body
(b)It is constituted under article 280 of constitution
(c)Dr. C. Rangarajan is chairman of 12th Finance Commission
(d)All of these
Ans.(d)
77.Plan expenditure in India is meant by:
(a)Internal dept and other resources
(b)Assistance from aid India Club
(c)Assistance from IMF
(d)Assistance from OBCD countries
Ans. (a)
78.As per provisional Census 2011 statistics, child sex ratio in India (number of male children of age group 0-6 per thousand female children) stands at:
(a)912
(b)914
(c)920
(d)923
Ans.(b)
79.National Renewable Fund was constituted with the objective of:
(a)Renewal of mines.
(b)Modernisation of industries
(c)Establishment of small units
(d)Rehabilitation of removed labours due to modernisation of industries
Ans.(d)
- Mega Food Parks Scheme was initiated by the Govt. of India with the objective:
(a)To ensure better price of products to farmers
(b)To increase productivity of agriculture crops
(c)To control food prices
(d)None of the above
Ans. (a)
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