Indian Economy Multiple Choice Questions (MCQs) for SSC, State and Others
1.Bring out the qualitative control instrument of Reserve Bank of India from the given statements?
[A] RBI increases Reverse Repo rate in the quarterly review of the monetary policy[B] RBI decreases the CRR rate in the quarterly review of the monetary policy
[C] RBI decreases the Bank rate in the quarterly review of the monetary policy
[D] RBI announces selective credit control in the quarterly review of the monetary policy
2.Approximately what fraction of India’s rubber is produced by Kerala?
[A] 60%[B] 70%
[C] 80%
[D] 90%
3.Consider the following statements:
1. There is almost no speculation in the G-sec market
2. The Investors in the G-Sec Market are predominantly the institutions
3. Which among the above statements is / are correct
[A] Only 1 is correct[B] Only 2 is correct
[C] Both 1 & 2 are correct
[D] Neither 1 nor 2 is correct
4.If there is an increase in the external commercial borrowings in India. What will be the impact on the external debt of the country
[A] Increase[B] Decrease
[C] Remain unaffected
[D] Either increase or decrease
5.The provisions relating to promissory notes have been incorporated in which among the following acts?
[A] Indian Contract Act[B] Indian Partnership Act
[C] Negotiable Instruments Act
[D] None of the above
6.In context with Banking, which among the following is the nearest meaning of Amortization?
[A] Repayment of Principal and Interest[B] Repayment of Principal
[C] Repayment of loan in one lump sum
[D] None of the above is a correct answer
7.If the contribution of the agricultural sector is decreasing in a country’s economy, then what conclusion can be drawn?
[A] The country is growing in the direction of being a developed nation[B] The country is moving towards becoming a developing nation
[C] The country is moving towards becoming a less developed nation
[D] The economic growth rate of the country has stopped
8.What do we call the banking oriented towards mass welfare and financial inclusion of the poor?
[A] Mass Banking[B] Narrow banking
[C] Social banking
[D] None of the above
9.When was Liberalised Remittance Scheme established?
[A] February 1th, 2005[B] February 4th, 2004
[C] February 7th, 2002
[D] February 8th, 2006
10.For which of the following purpose World Bank loan is given?
[A] Make available the currency of a particular country in case of shortage[B] Countries for sound projects for development purposes
[C] Improve the social and cultural conditions of a country
[D] None of these
11.Consider the following statements:
1. Stock Exchanges and Future Markets are placed under the union list of Indian Constitution
2. Bombay Cotton Trade Association was the first organized futures market in India
3. Which of the above statements is/are correct?
[A] 1 Only[B] 2 Only
[C] Both 1 & 2
[D] Neither 1 nor 2
12.What is the full form of FLC?
[A] Financial Leasing Company[B] Finance Lending Company
[C] Financial Leasing Company of India Limited
[D] None of the Above
13.In which year, the second round of Bank nationalisation was done?
[A] 1979[B] 1974
[C] 1980
[D] 1988
14.Coastal Bank, India’s first local Area Bank, operates in which state?
[A] Gujarat[B] Andhra Pradesh
[C] Karnataka
[D] Tamil Nadu
15.Which of the following best defines the Rolling Plan?
[A] Formulation of annual plans[B] Perspective of Five-Year Plan with the provision of extending by one year at a time so that there would be a constant planning horizon of five years
[C] Aims and achievements reviewed every year in a Five-Year Plan
[D] Plan for full 5 years
16.Which of the following was the single largest component in the non-plan expenditure during 1991-92?
[A] Interest payment[B] Compensation to banks in respect of the amount spent as loan waiving
[C] Subsidies on fertilizer
[D] Compensation on the loss incurred by PSUs
17.Who among the following received Noble Prize for Economics in 2019?
1. Abhijit Banerjee
2. Esther Duflo
3. Geary Becker
4. Michael Kremer
5. Krugman
Choose the correct option from the choices given below:
[A] 1,2,3 and 4 only[B] 1,2 and 5 only
[C] 1,2 and 4 only
[D] 3,4 and 5 only
18.Which of the following activities comes under the tertiary sector?
[A] Agriculture, dairying, forestry[B] Manufacturing of automobiles, construction of houses
[C] Communication and banking
[D] None of the above
19.Who suggested the rolling plan for backward countries?
[A] Gunnar Myrdal[B] Amartya Sen
[C] R.Samuelson
[D] M.R.Lewis
20.Approximately, what fraction of India’s Gross Value Added (GVA) for the year 2019-20 is contributed by Agriculture and Allied Activities?
[A] 18%[B] 24%
[C] 27%
[D] 12%
21.Who is the current (February, 2021) Chairman of PM Economic Advisory Council?
[A] Raghuram Rajan[B] I.G. Patel
[C] Bibek Debroy
[D] Kaushik Basu
22.When was the first woollen textile mill established in India?
[A] 1876[B] 1900
[C] 1899
[D] 1857
23.In which year the first modern jute mill established?
[A] 1867[B] 1855
[C] 1893
[D] 1857
24.What is the export target of mobile handsets by 2025 according to the National Electronic Manufacturing policy 2019?
[A] 200 million[B] 600 million
[C] 900 million
[D] 500 million
25.Which among the following is a Public sector undertaking?
[A] SAIL[B] TISCO
[C] Mahindra
[D] Maruti Suzuki
26.What is the share of Capital goods in the manufacturing industry?
[A] 12%[B] 24%
[C] 32%
[D] 10%
27.What is the percentage of the working class in the service industry?
[A] 31.45%[B] 20.45%
[C] 39.02%
[D] 51.54%
28.Which is the top gold-producing country in the world?
[A] China[B] USA
[C] Russia
[D] None of the above
29.What is the minimum radial distance between 2 sugarcane mills?
[A] 30 km[B] 10 km
[C] 15 km
[D] 5 km
30.When was Sugar development fund created?
[A] 1988[B] 1987
[C] 1984
[D] 1982
31.What is the total area under Sugar Cultivation in India?
[A] 3 million hectares[B] 2.3 million hectares
[C] 5 million hectares
[D] 6.2 million hectares
32.Which institution releases All India Survey on Higher Education?
[A] NITI Aayog[B] Pratham NGO
[C] Ministry of HRD
[D] None of the above
33.What is the maximum maturity period for Inter Bank Term money?
[A] 2 months[B] 14 days
[C] 3 months
[D] 6 months
34.What is the minimum net worth of a corporate to issue a commercial paper?
[A] 1 crore[B] 4 crores
[C] 50 lakhs
[D] 10 lakhs
35.Which among the following are types of Mutual funds?
1. Open Ended funds
2. Closed Ended funds
3. Share market funds
[A] 1 and 3 only[B] 1 and 2 only
[C] 2 and 3 only
[D] 3 only
36.In which year FMC was merged with SEBi?
[A] 2011[B] 2014
[C] 2015
[D] None
37.According to the data released by the RBI, how much capital has been mobilized through masala bonds in August 2020?
[A] Rs. 495 cores[B] Rs. 525 cores
[C] Rs. 501 cores
[D] Rs. 522 cores
38.Government will cover up to how much percentage of project costs through National Clean Energy Fund?
[A] 50%[B] 20%
[C] 60%
[D] 40%
39.Which of the following factors don’t affect the demand for a commodity?
[A] Price of commodity[B] Income of individual consumer
[C] Want of the consumer
[D] Price of related good
40.National Food Security Act provides legal food security to what fraction of Indian Population?
[A] 35%[B] 50%
[C] 67%
[D] 78%
41.Which country has the largest Anthracite reserves in the world?
[A] USA[B] Australia
[C] Canada
[D] India
42.As the number of investments made by a firm increases, what will be its internal rate of return?
[A] declines due to diminishing marginal productivity[B] declines because the market rate of interest will fall, ceteris paribus
[C] increases to compensate the firm for the current consumption foregone
[D] increases because the level of savings will fall
43.Equilibrium output is determined by which of the following?
[A] the equality between total Variable cost and Marginal revenue[B] the equality between Marginal cost and Marginal revenue
[C] the equality between Average cost and Average revenue
[D] the equality between total cost and total revenue
44.What is meant by disposable personal income?
[A] Personal Income + Subsidies[B] Personal Income – Subsidies
[C] Personal Income – Direct Taxes
[D] Personal Income – Indirect Taxes
45.In which year Rashtriya Krishi Bima Yojana was launched?
[A] 1992[B] 1998
[C] 1999
[D] 1996
46.Which state has launched Matru Poorna Yojana to meet the nutritional needs of pregnant and lactating women in rural areas of the state?
[A] Uttar Pradesh[B] Karnataka
[C] Haryana
[D] Punjab
47.The term stagflation refers to the situation where?
[A] growth has no relation with the change in prices[B] rate of growth and prices both are decreasing
[C] rate of growth is faster than the rate of price increase
[D] rate of growth is slower than the rate of price increase
48.Who regulates the insurance sector in India?
[A] RBI[B] CII
[C] IRDA
[D] SEBI
49.Imperial Bank was formed in which year?
[A] 1930[B] 1935
[C] 1955
[D] 1921
50.Which of the following disburses long term credit to private industry in India?
[A] Food Corporation of India[B] Life Insurance Corporation of India
[C] Primary Credit Society
[D] Land Development Banks