Indian Economy Quiz 2023

Indian economy plays an important role in overall growth of different market segments and it has been seen that various competitive test covers this aspect of field. So, here Indian Economy Quiz 2023 for competitive exams is provided that comprises of Indian economy objective questions and answers based on general knowledge.

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Indian Economy Quiz

Indian Economy GK Quiz

In below section we have provided Questions on Indian Economy or Indian Economy Quiz Questions to help you with your preparation. So, have a look on below given Indian Economy MCQs or Indian Economy GK Questions and Answers and prepare for Competitive Exams.

Question 1: In an inflationary trend, the pricing of the bank products are:

1. At increasing trend
2. At decreasing trend
3. No relevance of Inflation
4. Constant

Answer: 1

Question 2: Which among the following would most likely follow if the Reserve Bank of India effects selling of the securities?

1. The cash resources at the disposal of the commercial banks increase.
2. The cash resources at the disposal of the commercial banks get diminished.
3. The cash resources of the commercial banks remain unchanged
4. None of the above

Answer: 2

Question 3: Which among the following is world’s largest foreign exchange market ?

1. New York
2. London
3. Tokyo
4. Moscow

Answer: 2

Question 4: Which among the following is related to land development ?

1. NABARD
2. SEBI
3. NCDC
4. SARDB

Answer: 4

Question 5: In which year Reserve bank of India introduced Special Fund Facility for Security Settlement SFFSS?

1. 1999
2. 2000
3. 2001
4. 2002

Answer: 2

Question 6: In which five year plan the Khadi and Village Industries Commission was launched?

1. 1^st
2. 2^nd
3. 3^rd
4. 4th

Answer: 2

Question 7: When was the first earth day observed?

1. 1992
2. 2001
3. 1970
4. 1982

Answer:3

Question 8: The first Earth Day celebrations took place in……

1. Sweden
2. USA
3. Switzerland
4. Japan

Answer: 2

Question 9: 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 10: Which bank is the first to introduce ATM in India?

1. HSBC
2. ICICI
3. SBI
4. UCO Bank

Answer: 1

Question 11: Which sector is the largest source of employment in India?

1. Textile
2. Agriculture
3. Services
4. Tourism

Answer: 2

Question 12: In which year India adopted liberal and free-market principles

1. 1991
2. 1993
3. 1995
4. 1997

Answer: 1

Question 13: Which country shares the highest percentage of Indian Imports?

1. UAE
2. USA
3. China
4. Russia

Answer: 3

Question 14: Interim budget is also known as….

1. Mini budget
2. Vote on Account
3. Both a and b
4. None of these

Answer: 3

Question 15: Which article of the Constitution envisages Budget?

1. Article 280
2. Article 110
3. Article 360
4. Article 112

Answer: 4

Question 16: In budget 2019-20, the government set the target to distribute……. LPG connections under the Ujjawala Yojna.

1. 6 crore
2. 10 crore
3. 5 crore
4. 8 crore

Answer: 4

Question 17: What is the target (in terms of GDP) of Fiscal Deficit for FY 2019-20?

1. 1%
2. 5%
3. 4%
4. 4%

Answer: 3

Question 18: What is the biggest item of government expenditure in budget 2019-20?

1. Loan repayment
2. Defense expenditure
3. Expenditure on Central Plans
4. Share of the states in taxes and fees

Answer: 4

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Question 19: Which Indian state uses biggest quantity of fertilizer in India?

1. Punjab
2. Karnataka
3. P
4. Maharashtra

Answer: 1

Question 20: Black revolution is related to the…….

1. Fish production
2. Coal production
3. Crude oil production
4. Mustard Production

Answer: 3

Question 21: What percentage of Indian GDP is contributed by the service sector?

1. 25 % of GDP
2. 60 % of GDP
3. 53% of GDP
4. 49 % of GDP

Answer: 2

Question 22: Which of the following sector does not comes under the service sector in India?

1. Real estate
2. Transport
3. Restaurants & hotels
4. Formation of electronic television

Answer: 4

Question 23: What is the current rate of service tax in India currently?

1. 5%
2. 5%
3. 14%
4. 5%

Answer: 3

Question 24: How many services (till 2012) are included in the service tax currently in India?

1. 119
2. 110
3. 98
4. 85

Answer: 1

Question 25: Since when the service tax is being imposed in India?

1. 1991
2. 1999
3. 1994
4. 2001

Answer: 3

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Question 26: What is the most widely used tool of monetary policy?

1. Issuing of notes
2. Open market operations
3. Discount rate
4. None of these

Answer: 2

Question 27: When RBI does some open market operation transactions, it wishes to regulate which of the following?

1. Inflation
2. Supply of money in the economy
3. Borrowing power of the commercial banks
4. A & B

Answer: 4

Question 28: When the cash reserve ratio (CRR) is increased by the RBI, it will:

1. Increase the supply of money in the economy
2. Decrease the supply of money in the economy
3. No impact on the supply of money in the economy
4. Initially increase the supply but later on decrease automatically.

Answer: 2

Question 29: Banking sector comes under which of the following sectors?

1. Manufacturing sector
2. Industrial sector
3. Service sector
4. None of these

Answer: 3

Question 30: Which of the following is the recently opened bank in India?

1. IDFC
2. Bandhu
3. Axus
4. Gunjan

Answer: 1

Question 31: BASEL NORMS are related to the:

1. Insurance sector
2. Tele communication
3. Real estate
4. Banking sector

Answer: 4

Question 32: Which of the following is not the monetary tool?

1. CRR
2. SLR
3. Deficit financing
4. Open market operations

Answer: 3

Question 33: How much interest is paid by the RBI on the money deposited under the CRR measure?

1. Equal to the rate of CRR
2. More than the CRR
3. Less than the CRR
4. No interest is paid by the RBI

Answer: 4

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Question 34: Who is responsible for the supply of coins in the India?

1. Reserve bank Of India
2. Ministry of finance
3. Ministry of commerce and industry
4. Banker’s association of India

Answer: 2

Question 35: RBI increases the rate of interest in the situation of:

1. Higher inflation
2. Lower inflation
3. In the pressure of commercial banks
4. None of these

Answer: 2

Question 36: Launching of Sansad Adarsh Gram Yojna is related to the:

1. Vallabh Bhai Patel
2. Deen Dayal Upadhyay
3. Mahatma Gandhi
4. Jai Prakash Narayan

Answer: 4

Question 37: Which of the following two programmes are merged with MGNREGA?

1. SGRY & NFFWP
2. SGRY & SJSY
3. NFFWP & JRY
4. None of these

Answer: 1

Question 38: “TRYSEM” a Programme made for the:

1. Employment to Rural youths
2. Employment to Urban youths
3. Development of nutrition intake in the food of poor of the country.
4. Providing road connectivity to the villages.

Answer: 1

Indian Economy GK Questions

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