MCQOPTIONS
Saved Bookmarks
MCQOPTIONS
This section includes 291 Mcqs, each offering curated multiple-choice questions to sharpen your Indian Economy knowledge and support exam preparation. Choose a topic below to get started.
| 1. |
India is called a mixed economy because of the existence ofA. Public Sector B. Private Sector C. Joint Sector D. Cooperative Sector |
| A. | A, D |
| B. | A, B |
| C. | C, D |
| D. | B, D |
| Answer» C. C, D | |
| 2. |
Consider the following reasons of continuous decline in average land-holding size in India : A. Law of inheritance B. ConsolidationC. Farm mechanisation D. Desire of land ownership Pick the correct answer from the options given below : |
| A. | A, B, C and D |
| B. | A, C and D |
| C. | A and D |
| D. | A and B |
| Answer» D. A and B | |
| 3. |
Which one of the following organisations is a financial institution ? |
| A. | KVIC |
| B. | IFCO |
| C. | SEBI |
| D. | ICICI |
| Answer» E. | |
| 4. |
Beginning from the Financial Year 2017 18 NITI Ayog plans to replace the 5 year plans with which of the following? |
| A. | 5 year Vision Document |
| B. | 10 year Vision Document |
| C. | 15 year Vision Document |
| D. | 20 year Vision Document |
| Answer» D. 20 year Vision Document | |
| 5. |
Which of the following tax systems will help to reduce economic inequalities in India ? |
| A. | Regressive Tax |
| B. | Progressive Tax |
| C. | Flat rate tax |
| D. | None of these |
| Answer» C. Flat rate tax | |
| 6. |
Plan Holiday was declared after |
| A. | The First Five Year Plan |
| B. | The Second Five Year Plan |
| C. | The Third Five Year Plan |
| D. | The Fourth Five Year Plart |
| Answer» D. The Fourth Five Year Plart | |
| 7. |
The Oilseeds Production Programme (OPP) was launched in |
| A. | 1986 |
| B. | 1987 |
| C. | 1988 |
| D. | 1990 |
| Answer» B. 1987 | |
| 8. |
In India, the interest rate on savings accounts in all the nationalized commercial banks is fixed by |
| A. | Finance Minister of India |
| B. | Union Finance Commission |
| C. | Indian Bank Association |
| D. | Reserve Bank of India |
| E. | leaving it to market forces |
| Answer» B. Union Finance Commission | |
| 9. |
The Minimum Support Price for food grains was introduced in the year : |
| A. | 1944 |
| B. | 1964 |
| C. | 1974 |
| D. | 1954 |
| Answer» D. 1954 | |
| 10. |
Who was the first Indian governor of the Reserve Bank of India? |
| A. | C.D. Deshmukh |
| B. | Sachindra Roy |
| C. | S Mukherjee |
| D. | None of these |
| Answer» B. Sachindra Roy | |
| 11. |
Economic Survey in India is published officially, every year by the : |
| A. | Reserve Bank of India |
| B. | NITI Aayog |
| C. | Ministry of Finance |
| D. | Ministry of Commerce |
| Answer» D. Ministry of Commerce | |
| 12. |
Pradhan Mantri Jan-Dhan Yojana has been launched for : |
| A. | Promoting financial inclusion in the country |
| B. | Providing loans to poorest people in the country |
| C. | Providing financial help to the marginalised community |
| D. | Promoting women in backward areas |
| Answer» B. Providing loans to poorest people in the country | |
| 13. |
Which among the following is a tax levied by Centre and not shared with States ? |
| A. | Sales Tax |
| B. | Excise Duty |
| C. | Corporation Tax |
| D. | Income Tax |
| Answer» D. Income Tax | |
| 14. |
Himayat is a training cumplacement programme for unemployed youth in the State of |
| A. | Haryana |
| B. | Punjab |
| C. | Jammu and Kashmir |
| D. | Himachal Pradesh |
| Answer» D. Himachal Pradesh | |
| 15. |
The 14th Finance Commission has recommended increase in States share in net proceeds from tax collection from 32% to |
| A. | 35% |
| B. | 40% |
| C. | 42% |
| D. | 45% |
| Answer» D. 45% | |
| 16. |
Which of the following areas make the largest contribution to national income in India? |
| A. | Industry |
| B. | Services |
| C. | Agriculture |
| D. | Mining |
| Answer» C. Agriculture | |
| 17. |
What is a bank rate ? |
| A. | Rate at which Central bank of a country advances loans to other banks in the country |
| B. | Rate at which banks advance loans to the customers |
| C. | Rate at which banks lend among themselves |
| D. | Rate at which banks lend to money lenders |
| Answer» B. Rate at which banks advance loans to the customers | |
| 18. |
As per the 2016 17 Budget, the largest source of money to the Government of India is : |
| A. | Income Tax |
| B. | Corporation Tax |
| C. | Nontax revenues |
| D. | Borrowings and other liabilities |
| Answer» E. | |
| 19. |
Stand up India scheme launched by the Prime Minister recently is related with |
| A. | Promotion of entrepreneurship among SC, ST and Women |
| B. | Promotion of rights of Divyangs |
| C. | Promotion of compulsory education for women |
| D. | Promotion of Indian exports in western countries |
| Answer» B. Promotion of rights of Divyangs | |
| 20. |
Who was the head of the 10th Finance Commission ? |
| A. | Manmohan Singh |
| B. | Vasant Sathe |
| C. | Shiv-Shankar |
| D. | K.C Pant |
| Answer» E. | |
| 21. |
Tick the correct option with regards to the contribution towards GDP (Gross Domestic Product) from Agriculture |
| A. | During 1950-51 (GDP 51-88%) and 2011-12 (GDP 14-01%) |
| B. | During 1950-51 (GDP 11-00%) and 2011-12 (GDP 25%) |
| C. | During 1990-91 (GDP 29-53%) and 2011-12 (GDP 66-77%) |
| D. | During 1980-81 (GDP 35-69%) and 2011-12 (GDP 20-69%) |
| Answer» B. During 1950-51 (GDP 11-00%) and 2011-12 (GDP 25%) | |
| 22. |
Indian Special Economic Rules amendment came in the year |
| A. | 2000 |
| B. | 2002 |
| C. | 2004 |
| D. | 2006 |
| Answer» E. | |
| 23. |
For which tax, was constitutional status given much later after its introduction in a small way in 1994 - 95? |
| A. | Customs Duty |
| B. | Corporation Tax |
| C. | Taxes on Services |
| D. | Income Tax |
| Answer» D. Income Tax | |
| 24. |
Who presented the Union Budget in 1970? |
| A. | T.T. Krishnamachari |
| B. | C. Subramaniam |
| C. | Indira Gandhi |
| D. | R. Venkatraman |
| Answer» D. R. Venkatraman | |
| 25. |
Gross domestic product is a measure of : |
| A. | A country s international economic activities |
| B. | A country s domestic economic activities |
| C. | A country s financial position |
| D. | A country s industrial output |
| Answer» C. A country s financial position | |
| 26. |
Which Indian industry is employing large number of workers ? |
| A. | Iron & Steel Industry |
| B. | Textile Industry |
| C. | Jute Industry |
| D. | Sugar Industry |
| Answer» B. Textile Industry | |
| 27. |
Imperial Bank was constituted in the year : |
| A. | 1930 |
| B. | 1935 |
| C. | 1955 |
| D. | 1921 |
| Answer» E. | |
| 28. |
Which of the following does not form a part of the foreign exchange reserves of India ? |
| A. | Gold |
| B. | SDRs |
| C. | Foreign currency assets |
| D. | Foreign currency and securities held by the banks and corporate bodies |
| Answer» E. | |
| 29. |
Which one of the following disburses long term loans to private industry in India ? |
| A. | Food Corporation of India |
| B. | Life Insurance Corporation of India |
| C. | Primary Credit Society |
| D. | Land Development Banks |
| Answer» E. | |
| 30. |
The first Five Year Plan of the Government of India was based on |
| A. | Leontief input-output model |
| B. | Harrod-Domar model |
| C. | Mahalanobis two-sector model |
| D. | Mahalanobis four-sector model |
| Answer» C. Mahalanobis two-sector model | |
| 31. |
Self Reliance was the main objective of |
| A. | Fourth Plan |
| B. | Seventh Plan |
| C. | Third Plan |
| D. | Sixth Plan |
| Answer» E. | |
| 32. |
From which of the following banks did Madan Mohan Malaviya take loans for financing The Hindustan Times ? |
| A. | Punjab National Bank |
| B. | Bank of Maharashtra |
| C. | Bank of Baroda |
| D. | State Bank of India |
| Answer» B. Bank of Maharashtra | |
| 33. |
Multi-purpose river valley projects are the New temples of modern India . The above statement is made by: |
| A. | Motilal Nehru |
| B. | Mahatma Gandhi |
| C. | Rajiv Gandhi |
| D. | Jawaharlal Nehru |
| Answer» E. | |
| 34. |
Agriculture should serve as an instrument of income, livelihood and opportunity to the local community this statement was given by |
| A. | Dr Madhavan Nair |
| B. | Dr Manmohan Singh |
| C. | Dr Abdul Kalam |
| D. | Dr M S Swaminathan |
| Answer» E. | |
| 35. |
The fourteen major banks in India were nationalised in the year |
| A. | 1967 |
| B. | 1968 |
| C. | 1969 |
| D. | 1971 |
| Answer» D. 1971 | |
| 36. |
The more mega store retail chain belongs to which Indian Industry ? |
| A. | Reliance Industry |
| B. | Bharti Enterprises |
| C. | Aditya Birla Group |
| D. | None of these |
| Answer» D. None of these | |
| 37. |
In India the largest single item of current government expenditure is |
| A. | Defence Expenditure |
| B. | Interest payment of debt |
| C. | Payment of subsidies |
| D. | Investment in social overheads |
| Answer» C. Payment of subsidies | |
| 38. |
India exports power to ____. |
| A. | Bangladesh |
| B. | Myanmar |
| C. | Pakistan |
| D. | Bhutan |
| Answer» B. Myanmar | |
| 39. |
The number of Nationalised Banks in India is |
| A. | 14 |
| B. | 21 |
| C. | 20 |
| D. | 22 |
| Answer» D. 22 | |
| 40. |
Small farmers in the country have been defined as those farmers having land holding of |
| A. | below one hectare |
| B. | one to two hectare |
| C. | two to three hectare |
| D. | three to four hectare |
| Answer» C. two to three hectare | |
| 41. |
The second plan gave priority to |
| A. | Agriculture |
| B. | Services |
| C. | Heavy Industry |
| D. | Foreign Trade |
| Answer» D. Foreign Trade | |
| 42. |
The Slack Season in the Indian Economy is |
| A. | March-April |
| B. | September-December |
| C. | January-June |
| D. | February-April |
| Answer» D. February-April | |
| 43. |
About how many Indians cannot meet their essential needs as per a report by McKinsey Global Institute (MGI) released on 19th February, 2014 ? |
| A. | 66% |
| B. | 56% |
| C. | 46% |
| D. | 36% |
| Answer» C. 46% | |
| 44. |
Which of the following method is not used in determining National Income of a country ? |
| A. | Income Method |
| B. | Output Method |
| C. | Input Method |
| D. | Investment Method |
| Answer» E. | |
| 45. |
The Monetary and Credit Policy is announced by which of the following ? |
| A. | Ministry of Finance in Centre |
| B. | Reserve Bank of India |
| C. | State Bank of India |
| D. | Planning Commission of India |
| Answer» C. State Bank of India | |
| 46. |
Which is the first Indian Company to be listed in NASDAQ? |
| A. | Reliance |
| B. | TCS |
| C. | HCL |
| D. | Infosys |
| Answer» E. | |
| 47. |
National Income can be calculated in all except one of the following ways : |
| A. | sum of all expenditures |
| B. | sum of all outputs |
| C. | sum of all savings |
| D. | sum of all incomes |
| Answer» D. sum of all incomes | |
| 48. |
The PURA Scheme which envisages the provision of urban amenities in rural areas in India was advocated for the first time by |
| A. | Dr. M.S. Swaminathan |
| B. | Sri A.P.J. Abdul Kalam |
| C. | Dr. Arvind Subramaniam |
| D. | Prof. Dinshaw Mistry |
| Answer» C. Dr. Arvind Subramaniam | |
| 49. |
Government of India has decided to integrate____with recently launched Pradhan Mantri Krishi Sinchayee Yojana. |
| A. | Mahatma Gandhi National Rural Employment Guarantee Act |
| B. | National Rural Livelihood Mission |
| C. | Haryali |
| D. | Accelerated Irrigation Benefit Programme |
| Answer» B. National Rural Livelihood Mission | |
| 50. |
The profits of Indian banks operating in foreign countries are a part of |
| A. | income from entrepreneurship earned from abroad |
| B. | domestic factor income of India |
| C. | profits of the enterprises working in domestic territory of India |
| D. | operating surplus of the banks located in India |
| Answer» B. domestic factor income of India | |