Indian Economy GK MCQ Questions SET-5 with Answers free PDF

Indian Economy GK MCQ Questions SET-5 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 first national commission on labours was constituted on:

(i) December 24, 1966.
(ii) December 24, 1967
(iii) November 24, 1966
(iv) November 24, 1967

(i) December 24, 1966.

Q2. For which of the following the term ” Paper Gold ” is used?

(i) United States Dollar
(ii) Gold Reserved with International Monetary Fund
(iii) United States Dollar
(iv) Special Drawing Rights

(iv) Special Drawing Rights

Q3. Depreciation means

(i) closure of a plant due to lock out
(ii) closure of a plant due to labour trouble
(iii) loss of equipment over time due to wear and tear
(iv) destruction of a plant in a fire accident

(iii) loss of equipment over time due to wear and tear

Q4. National Income estimates in India is prepared by:

(i) Planning Commission
(ii) Reserve Bank Of India
(iii) Central Statistical Organisation (CSO)
(iv) Indian Statistical Institute

(iii) Central Statistical Organisation (CSO)

Q5. Which is the largest exported item of India?

(i) Refined Petrol
(ii) Diamond
(iii) Rice
(iv) Aluminium

(i) Refined Petrol

Q6. Excise duty is a tax levied on the

(i) import of goods
(ii) export of goods
(iii) production of goods
(iv) sale of goods

(iii) production of goods

Q7. Inflation in India is measured on which of the following indexes / indicators?

(i) Consumer Price Index (CPI)
(ii) Wholesale Price Index (WPI)
(iii) Gross Domestic Product (GDP)
(iv) Cost of Living Index (CLI)

(ii) Wholesale Price Index (WPI)

Q8. In the second nationalization of commercial banks, _ banks were nationalizd

(i) 4
(ii) 5
(iii) 6
(iv) 8

(iii) 6

Q9. Government has merged Annapurna Scheme with:

(i) National Old Age Pension Scheme
(ii) Ujjwala
(iii) IRDP
(iv) None of these

(i) National Old Age Pension Scheme

Q10. In which year first passenger train was started in India?

(i) 1850
(ii) 1853
(iii) 1856
(iv) 1861

(ii) 1853

Q11. Which of the following is apex bank for industrial loans ?

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

(iv) IDBI

Q12. National Rural Health mission was launched in:

(i) October 2005
(ii) August 2005
(iii) April 2005
(iv) July 2005

(iii) April 2005

Q13. The first wholly Indian Bank was set up in

(i) 1794
(ii) 1894
(iii) 1896
(iv) 1902

(ii) 1894

Q14. Inflation is caused by :

(i) Increase in cash with the government
(ii) Increase in supply of goods
(iii) Decrease in money supply
(iv) Increase in money supply

(iv) Increase in money supply

Q15. ICICI is the name of a

(i) chemical industry
(ii) bureau
(iii) corporation
(iv) financial institution

(iv) financial institution

Q16. What is the FDI limit for domestic airlines sector under the automatic route?

(i) 100%
(ii) 51%
(iii) 49%
(iv) 65%

(iii) 49%

Q17. In the state of India, the State Financial Corporation have given assistance mainly to develop

(i) agricultural farms
(ii) cottage industry
(iii) large-scale industries
(iv) medium and small-scale industries

(iv) medium and small-scale industries

Q18. Among Indian economists, who had done pioneering work on National Income?

(i) Prof. Shenoi
(ii) Jagdish Bhagwati
(iii) V. K. R. V Rao
(iv) P. N Dhar

(iii) V. K. R. V Rao

Q19. The Ministry and programme Implementation – as an independent Ministry came into existence on :

(i) October 15, 1999
(ii) January 15, 1998
(iii) September 15, 1999
(iv) June 15, 1999

(i) October 15, 1999

Q20. Pandit Jawahar Lal Nehru described which of the following multi-purpose project as temple of a resurgent India?

(i) Tehri Dam
(ii) Bhakra multi-purpose project
(iii) Nagarjuna Sagar Dam
(iv) Srisailam multi-purpose project

(ii) Bhakra multi-purpose project

Q21. In the last one decade, which one among the following sectors has attracted the highest foreign direct investment inflows into India?

(i) Chemicals other than fertilizers
(ii) Services sector
(iii) Food processing
(iv) Telecommunication

(iv) Telecommunication

Q22. If all the banks in an economy are nationalized and converted into a monopoly bank, the total deposits

(i) will decrease
(ii) will increase
(iii) will neither increase nor decrease
(iv) None of the above

(iii) will neither increase nor decrease

Q23. Which of the following is the first Indian private company to sign an accord with Government of Myanmar for oil exploration in two offshore blocks in that country?

(i) Reliance Energy
(ii) Essar Oil
(iii) GAIL
(iv) ONGC

(ii) Essar Oil

Q24. Which of the following is not an objective of the monetary policy of the RBI ?

(i) Direct credit in desirable direction
(ii) Boost economic development
(iii) Control inflationary pressure
(iv) Ensure social justice

(iv) Ensure social justice

Q25. Our financial system has provided for the transfer of resources from the centre to the states; the important means of resource transfer are

(i) tax sharing
(ii) grant-in-aids
(iii) loans
(iv) All the above

(iv) All the above

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