Indian Economy GK MCQ Questions SET-1 with Answers free PDF Download

We have provide GK MCQ Questions for Indian Economy GK questions with Answers free PDF. Download based on the important concepts and topics given in the textbook as per new exam pattern. All these Indian Economy GK MCQs Multiple Choice Questions with Answers provided here with detailed solutions. Use them as reference and be confident in the actual exam by practicing the MCQ Quiz Questions of Indian Economy GK as much as you can. Each question has four options followed by the right answer.

MCQ Questions for Indian Economy GK with Answers

Q1. The Foreign Exchange Management Act(FEM(i) was passed in:

(i) the year 2000
(ii) the year 2005
(iii) the year 1999
(iv) the year 2002

(iii) the year 1999

Q2. Which is the main gas that is present in LPG?

(i) methane
(ii) propane
(iii) butane
(iv) heptane

(ii) propane

Q3. Which of the following is not a part of machinery that settles industrial disputes?

(i) Wage Court
(ii) Works Committee
(iii) Conciliation officers
(iv)Board of Conciliation

(i) Wage Court

Q4. GDP deflator is used to :

(i) measure the inflation in a country.
(ii) compare the GDP of a country vis a vis other countries of the world
(iii) measure the relative reduction in GDP growth rate of a country.
(iv) estimate the purchasing power of the citizen of a country.

(i) measure the inflation in a country.

Q5. National expenditure includes

(i) consumption expenditure
(ii) investment expenditure
(iii) government expenditure
(iv) All of the above

(iv) All of the above

Q6. In India, the second largest provider of employment after agriculture is:

(i) Textile Sector
(ii) Chemical Sector
(iii) Iron and Steel Sector
(iv) Telecommunication sector

(i) Textile Sector

Q7. Which is the oldest ship-building company in India?

(i) Hindustan Shipyard limited
(ii) Cochin Shipyard
(iii) Goa Shipyard
(iv) None

(i) Hindustan Shipyard limited

Q8. Since 1983, the RBI’s responsibility with respect to regional rural banks was transferred to

(i) ARDC
(ii) SBI
(iii) NABARD
(iv)PACs

(iii) NABARD

Q9. In free economy, inequalities in income is due to

(i) private property and inheritance
(ii) private property only
(iii) differences in the marginal productivity of labour
(iv) free competition

(i) private property and inheritance

Q10. The average rate of domestic savings (gross) for the Indian economy is currently estimated to be in the range of

(i) 15 to 20 percent
(ii) 20 to 25 percent
(iii) 25 to 30 percent
(iv) 30 to 35 percent

(ii) 20 to 25 percent

Q11. The apex body for formulating plans and coordinating research work in agriculture and allied fields is

(i) State Trading Corporation
(ii) Regional Rural Banks
(iii) National Bank for Agriculture and Rural Development (NABARD)
(iv) Indian Council of Agricultural Research

(iv) Indian Council of Agricultural Research

Q12. The share of road transport in total transportation of the country is:

(i) 60%
(ii) 70%
(iii) 75%
(iv) 80%

(iv) 80%

Q13. Which of the following leaders placed independent India’s first Union budget in Parliament?

(i) C.D.Deshmukh
(ii) John Matthai
(iii) R.K. Shanmukham Chetty
(iv) P.Theagaraya Chetty

(iii) R.K. Shanmukham Chetty

Q14. The ARDC is now a branch of the

(i) RBI
(ii) NABARD
(iii) IDBI
(iv)SDBI

(ii) NABARD

Q15. Antyodaya Programme is associated with

(i) Bringing up cultural revolution in India
(ii) Liberation of bonded labour
(iii) Demands of textile labourers
(iv) Upliftment of the poorest of the poor

(iii) Upliftment of the poorest of the poor

Q16. The annual yield from which of the following Union Government taxes is the highest?

(i) Custom duties
(ii) Corporation tax and income tax
(iii) Inheritance tax, wealth tax, interest tax and gift tax
(iv) Excise duties

(iv) Excise duties

Q17. The Indian state which was the first to release state level Human Development Report in 1995 was:

(i) Madhya Pradesh
(ii) Maharashtra
(iii) Kerala
(iv) Tamil Nadu

(i) Madhya Pradesh

Q18. The Deralam – Zaranj Highway is located in which country?

(i) Bhutan
(ii) Myanmmar
(iii) Nepal
(iv) Afghanistan

(iv) Afghanistan

Q19. In India, which one among the following formulates the fiscal policy?

(i) Planning Commission
(ii) Ministry of Finance
(iii) Finance Commission
(iv)The Reserve Bank of India

(ii) Ministry of Finance

Q20. In India the largest single item of current government expenditure is

(i) Interest payment of debt
(ii) Defence Expenditure
(iii) Payment of subsidies
(iv) Investment in social overheads

(i) Interest payment of debt

Q21. In India, inflation measured by the

(i) Wholesale Price Index number
(ii) Consumers Price Index for urban non-manual workers
(iii) Consumers Price Index for agricultural workers
(iv) National Income Deflation

(i) Wholesale Price Index number

Q22. Finance Commission is constituted after every:

(i) 3 years
(ii) 5 years
(iii) 6 years
(iv) 4 years

(ii) 5 years

Q23. What is the minimum corpus for the Collective Investment Scheme(CIS)?

(i) 10 crores
(ii) 100 crores
(iii) 50 crores
(iv) 25 crores

(ii) 100 crores

Q24. Redistribution polices geared to reduce economic inequalities include

(i) progressive tax policies
(ii) land reforms
(iii) rural development policies
(iv)All the above

(iv)All the above

Q25. The credit control operation in India is performed by

(i) Commercial banks
(ii) Rural banks
(iii) Reserve Bank of India
(iv) State Bank of India

(iii) Reserve Bank of India

We hope the given General Knowladge MCQ Questions for Indian Economy GK with Answers PDF Free Download will help you. If you have any queries regarding Indian Economy GK MCQs Multiple Choice Questions with Answers, drop a comment below and we will get back to you soons.

Leave a Comment