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Indian Economy Quiz for All Exams! Online Practice Test, Questions & Answers

Indian Economy Quiz

Get Here Indian Economy Quiz for All Exams!!!! Well, Indian Economy is considered as world’s 6th largest economy by nominal GDP and 3rd largest by purchasing power parity. There are many things that one needs to know before going to participate in any Indian Economy Quiz. For them we settle down the free online test series of Indian Economy here. So candidate may check out this interesting and interactive Indian Economy Quiz for All Exams questions with answers.

Economic sector of India is the one of the fastest growing service sectors and it will be the first time that Indian economy will overtake the UK and France in real money dollar terms. Basically, Indian Economy Quiz is designed to judge the interest of candidates in this sector and it will be very helpful for them who are going to appear in competitive exams like UPSC, SSC, IAS, PSC and other associated exams.

Team of provided Indian Economy Quiz question and answer which give you a very quick revision of most of the topics by which you become proficient.

Indian Economy Quiz

Question 1: Development expenditure of the Central government does not include

  1. Defence expenditure
  2. Expenditure on economic services
  3. Expenditure on social and community services
  4. Grant to states

Answer: 1

Question 2: What is the position of India by GDP (nominal) according to International Monetary Fund list, 2012

  1. Third
  2. Fifth
  3. Tenth
  4. Twelve

Answer: 3

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Question 3: National Rural Development Institute is situated at ?

  1. Patna
  2. Shimla
  3. Hyderabad
  4. New Delhi

Answer: 3

Question 4: NABARD is

  1. A bank
  2. A board
  3. A block
  4. A department

Answer: 1

Question 5: The type of note issue system followed in India is :

  1. Maximum fiduciary system
  2. Minimum reserve system
  3. Proportional fiduciary system
  4. Fixed fiduciary system

Answer: 2

Question 6: The New Development Bank is associated with which international organization ?

  1. WTO
  2. World Bank
  3. UN
  4. BRICS
  5. None of these

Answer: 4

Question 7: CASA ratio stands for

  1. Total Deposits and Withdraw ratio
  2. Saving and current account ratio.
  3. Current and savings account ratio.
  4. Total Profit
  5. None of these

Answer: 3

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Question 8: Which of the following introduced Paperless SIP(systematic investment plans) ?

  1. Bombay Stock Exchange
  2. National Stock Exchange
  3. Reserve Bank of India
  4. Life Insurance Corporation.
  5. None of these

Answer: 1

Question 9: If all the banks in an economy are nationalized and converted into a monopoly bank, the total deposits

  1. Will decrease
  2. Will increase
  3. Will neither increase nor decrease
  4. None of the above

Answer: 3

Question 10: India changed over to the decimal system of coinage in

  1. April 1995
  2. April 1957
  3. April 1958
  4. April 1959

Answer: 2

Question 11: The association of the rupee with pound sterling as the intervention currency was broken in

  1. 1990
  2. 1991
  3. 1992
  4. 1993

Answer: 3

Question 12: When the first Economic Census was done in India

  1. 1958
  2. 1972
  3. 1977
  4. 1983

Answer: 3

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Question 13: Who presented the first Union Budget of Independent India

  1. D. Deshmukh
  2. John Mathai
  3. Morarji Desai
  4. K. Shanmukham Chetty

Answer: 4

Question 14: Who was the chairman of National Income Committe appointed by Government of India in 1949

  1. C R Rao
  2. P C Maharanobis
  3. K. R. V. Rao
  4. K N Raj

Answer: 2

Question 15: Which crop is sown on the largest area in India?

  1. Maize
  2. Wheat
  3. Sugarcane
  4. Rice

Answer: 4

Question 16: Dalal Street is situated at?

  1. Paris
  2. Mumbai
  3. London
  4. New Delhi

Answer: 2

Question 17: The period of 10th Plan in India is

  1. 2000-2005
  2. 2001-2006
  3. 2002-2007
  4. 2003-2008

Answer: 3

Question 18: NABARD was established in

  1. Fourth plan
  2. Fifth plan
  3. Sixth plan
  4. Eighth plan

Answer: 3

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Question 19: Reserve Bank of India was nationalized in the year

  1. 1935
  2. 1945
  3. 1949
  4. 1969

Answer: 3

Question 20: National Agricultural Insurance Scheme replacing Comprehensive Crop Insurance Scheme was introduced in the year

  1. 1997
  2. 1998
  3. 1999
  4. 2000

Answer: 3

Question 21: 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?

  1. 50,000 crores
  2. 25,000 crores
  3. 1,00,000 crores
  4. 1,25,000 crores

Answer: 1

Question 22: Fiscal deficit in the Union Budget means

  1. The difference between current expenditure and current revenue
  2. Net increase in union governments borrowings from the reserve bank of india
  3. The sum of budgetary deficit and net increase in internal and external borrowings
  4. The sum of monetized deficit and budgetary deficit

Answer: 3

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Question 23: Who was the first person to adopt a scientific method in estimating the national income in India

  1. PN Dhar
  2. Ashok Mitra
  3. VKRV Rao
  4. Prof Sheroi

Answer: 3

Question 24: Who is the first Finance Minister to have risen to be the President of India

  1. R Venkataraman
  2. Shankar Dayal Sharma
  3. R. Narayanan
  4. S Radhakrishnan

Answer: 1

Question 25: Who has presented the maximum number of budgets with 10 budgets

  1. Pranab Mukherjee
  2. Yashwant Sinha
  3. Morarji Desai
  4. Chidambaram

Answer: 3

Question 26: Which Finance Minister has introduced the service tax concept in india

  1. Chidambaram
  2. Manmohan Singh
  3. Indira Gandhi
  4. Gujral

Answer: 2

Question 27: In which year budget, the service tax concept was first introduce in India

  1. 1994-95
  2. 1995-96
  3. 1991-92
  4. 1992-93

Answer: 1

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Question 28: What is ‘Hawala’?

  1. Full details of a subject
  2. Illegal transactions of foreign exchange
  3. Illegal trading of shares
  4. Tax evasion

Answer: 2

Question 29: Basic infrastructure facilities in Economics are known as :

  1. Human capital
  2. Physical capital
  3. Social overheads capital
  4. Working capital

Answer: 2

Question 30: Which among the following subjects is not an aim of the monetary policy of the Reserve Bank of India?

  1. Giving impetus to economic development
  2. Direct credit with objective criteria
  3. To control pressure of inflation
  4. To ensure social justice.

Answer: 4

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