Indian Economy GK MCQ Questions SET-7 with Answers free PDF

Indian Economy GK MCQ Questions SET-7 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. In the World, in the production of cotton, India ranks:

(i) Second
(ii) First
(iii) Third
(iv) Fourth

(i) Second

Q2. Resurgent India bonds were issued in US dollar, Pound Sterling and

(i) Japanese Yen
(ii) Deutsche Mark
(iii) Euro
(iv) French Franc

(ii) Deutsche Mark

Q3. Foreign Direct Investment ceilings in the telecom sector have been raised from 74 percent to

(i) 80 percent
(ii) 83 percent
(iii) 90 percent
(iv) 100 percent

(iv) 100 percent

Q4. From which year did the Indian government made hallmarking mandatory for Gold Jewellery and Artefacts?

(i) 2020
(ii) 2019
(iii) 2021
(iv) 2022

(iii) 2021

Q5. Inflation is measured in India on the basis of which ‘Index’?

(i) Wholesale Price Index
(ii) Consumer Price Index for urban workers
(iii) Consumer Price Index for agricultural workers
(iv) National income deflation

(i) Wholesale Price Index

Q6. Subsidies mean

(i) payment by government for purchase of goods and services
(ii) payment made by business enterprises to factors of production
(iii) payment made by companies to shareholders
(iv) payment made by the government to business enterprises, without buying any goods and services

(iv) payment made by the government to business enterprises, without buying any goods and services

Q7. When was Indian Petrochemical Corporation Limited set up?

(i) 1999
(ii) 1989
(iii) 1979
(iv) 1969

(iv) 1969

Q8. The share of road transport in total transportation of the country is:

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

(iv) 80%

Q9. 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

Q10. Which Indian industry is employing large number of workers ?

(i) Textile Industry
(ii) Iron & Steel Industry
(iii) Jute Industry
(iv) Sugar Industry

(ii) Iron & Steel Industry

Q11. Devaluation of currency leads to

(i) fall in domestic prices
(ii) increase in domestic prices
(iii) no impact on domestic prices
(iv) erratic fluctuations in domestic prices

(ii) increase in domestic prices

Q12. Which among the following manufacturing industry provides employment to maximum people?

(i) Information technology
(ii) Petroleum
(iii) Textile
(iv) Iron and Steel

(iii) Textile

Q13. 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

Q14. How many banks were nationalized in 1969?

(i) 16
(ii) 14
(iii) 15
(iv) 20

(ii) 14

Q15. The Industrial Development Bank of India was set up in

(i) July, 1966
(ii) July, 1968
(iii) July, 1964
(iv) July, 1962

(iii) July, 1964

Q16. Paper currency first started in India in

(i) 1861
(ii) 1542
(iii) 1601
(iv) 1880

(i) 1861

Q17. During which five-year plan, the Mega food park scheme was launched?

(i) 10
(ii) 9
(iii) 11
(iv) 8

(iii) 11

Q18. Finance Commission is constituted after every:

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

(ii) 5 years

Q19. The banks are required to maintain a certain ratio between their cash in the hand and total assets. This is called

(i) Statutory Bank Ratio (SBR)
(ii) Statutory Liquid Ratio (SLR)
(iii) Central Bank Reserve (CBR)
(iv) Central Liquid Reserve (CLR)

(ii) Statutory Liquid Ratio (SLR)

Q20. Which bank in India performs duties of Central Bank ?

(i) State Bank of India
(ii) Central Bank of India
(iii) Reserve Bank of India
(iv) Above (i) and (ii)

(iii) Reserve Bank of India

Q21. Who has provided the Savings Bank facility to the largest number of account-holders in India?

(i) Punjab National Bank
(ii) State Bank of India
(iii) Allahabad Bank
(iv) Post Office

(iv) Post Office

Q22. Which Indian company secured the highest export revenue from IT software and services during the past two years ?

(i) Infosys Technologies Ltd
(ii) TCS
(iii) Wipro Technologies Ltd
(iv) Satyam Computer Services Ltd

(iii) Wipro Technologies Ltd

Q23. Deficit financing implies

(i) printing new currency notes
(ii) replacing new currency with worn out currency
(iii) public expenditure in excess of public revenue
(iv) public revenue in excess of public expenditure

(iii) public expenditure in excess of public revenue

Q24. The budget deficit means

(i) the excess of total expenditure, including loans, net of lending over revenue receipts
(ii) difference between revenue receipts and revenue expenditure
(iii) difference between all receipts and all the expenditure
(iv) fiscal deficit less interest payments

(iii) difference between all receipts and all the expenditure

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