Indian Economy Quiz – Questions & Answer

By | October 12, 2015

Indian Economy Quiz:

Q 1 : The banks are required to maintain a certain ratio between their cash in the hand and totals assets. This is called
A: Statutory Bank Ratio (SBR) B: Statutory Liquid Ratio (SLR)
C: Central Bank Reserve (CBR) D: Central Liquid Reserve (CLR)
Answer : B
Q 2 : Of the gross tax revenue of the Union Government the indirect taxes account for nearly
A: 70 per cent B: 75 percent
C: 65 percent D: 60 percent
Answer : C
Q 3 : Devaluation of currency will be more beneficial if
A: prices of domestic goods remain constant B: prices of exports remain constant
C: prices of imports remains constant D: prices of exports rise proportionately
Answer : B
Q 4 : Notes on which denomination has the portrait of Mahatma Gandhi printed on them?
A: 1000 rupee B: 500 rupee
C: 100 rupee D: All of the above
Answer : D
Q 5 : The current price index (base 1960) is nearly 330. This means that
A: all items cost 3-3 times more than what they did in 1960 B: the prices of certain selected items have gone up to 3-3 times
C: weighted means of prices of certain item has increased 3-3 times D: gold price has gone up 3-3 times
Answer : C
Q 6 : The average rate of domestic savings (gross) for the Indian economy is currently estimated to be in the range of
A: 15 to 20 percent B: 20 to 25 percent
C: 25 to 30 percent D: 30 to 35 percent
Answer : B
Q 7 : The annual yield from which of the following Union Government taxes is the highest?
A: Custom duties B: Corporation tax and income tax
C: Inheritance tax, wealth tax, interest tax and gift tax D: Excise duties
Answer : D
Q 8 : In India, inflation measured by the
A: Wholesale Price Index number B: Consumers Price Index for urban non-manual workers
C: Consumers Price Index for agricultural workers D: National Income Deflation
Answer : A
Q 9 : In India, the first bank of limited liability manages by Indians and founded in 1881 was
A: Hindustan Commercial Bank B: Oudh Commercial Bank
C: Punjab National Bank D: Punjab and Sind Bank
Answer : B
Q 10 : How many banks were nationalized in 1969?
A: 16 B: 14
C: 15 D: 20
Answer : B
Q 11 : Fiscal deficit in the Union Budget means
A: the difference between current expenditure and current revenue B: net increase in Union Governments borrowings from the Reserve Bank of India
C: the sum of budgetary deficit and net increase in internal and external borrowings D: the sum of monetized deficit and budgetary deficit
Answer : C
Q 12 : If the fiscal deficit of the Union Government is Rs. 75,000 crores relending to State is Rs. 25,000 crores, interest payments are Rs. 25,000 crores, what is the amount of the primary deficit?
A: Rs. 50,000 crores B: Rs. 25,000 crores
C: Rs. 1,00,000 crores D: Rs. 1,25,000 crores
Answer : A
Q 13 : National Agricultural Insurance Scheme replacing Comprehensive Crop Insurance Scheme was introduced in the year
A: 1997 B: 1998
C: 1999 D: 2000
Answer : C
Q 14 : In India, rural incomes are generally lower than the urban incomes, which of the following reasons account for this? A large number of farmers are illiterate and know little about scientific agriculture Prices of primary products are lower than those of manufactured products Investment in agriculture has been low when compared to investment in industry
A: I, II, III B: I, II
C: I, III D: II, III
Answer : A
Q 15 : Reserve Bank of India was nationalized in the year
A: 1935 B: 1945
C: 1949 D: 1969
Answer : C
Q 16 : Which of the following is not an undertaking under the administrative control of Ministry of Railways?
A: Container Corporation of India Limited B: Konkan Railway Corporation Limited
C: Indian Railways Construction Company Limited D: Diesel Locomotive Works, Varanasi
Answer : C
Q 17 : The apex body for formulating plans and coordinating research work in agriculture and allied fields is
A: State Trading Corporation B: Regional Rural Banks
C: National Bank for Agriculture and Rural Development (NABARD) D: Indian Council of Agricultural Research
Answer : D
Q 18 : Resurgent India Bonds were issued in US dollar, Pound Sterling and
A: Japanese Yen B: Deutsche Mark
C: Euro D: French Franc
Answer : B
Q 19 : National expenditure includes
A: consumption expenditure B: investment expenditure
C: government expenditure D: All of the above
Answer : D
Q 20 : Subsidies mean
A: payment by government for purchase of goods and services B: payment made by business enterprises to factors of production
C: payment made by companies to shareholders D: payment made by the government to business enterprises, without buying any goods and services
Answer : D

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