Indian Economy MCQs

Welcome to our comprehensive collection of Multiple Choice Questions (MCQs) on Indian Economy, a fundamental topic in the field of General Knowledge. Whether you're preparing for competitive exams, honing your problem-solving skills, or simply looking to enhance your abilities in this field, our Indian Economy MCQs are designed to help you grasp the core concepts and excel in solving problems.

In this section, you'll find a wide range of Indian Economy mcq questions that explore various aspects of Indian Economy problems. Each MCQ is crafted to challenge your understanding of Indian Economy principles, enabling you to refine your problem-solving techniques. Whether you're a student aiming to ace General Knowledge tests, a job seeker preparing for interviews, or someone simply interested in sharpening their skills, our Indian Economy MCQs are your pathway to success in mastering this essential General Knowledge topic.

Note: Each of the following question comes with multiple answer choices. Select the most appropriate option and test your understanding of Indian Economy. You can click on an option to test your knowledge before viewing the solution for a MCQ. Happy learning!

So, are you ready to put your Indian Economy knowledge to the test? Let's get started with our carefully curated MCQs!

Indian Economy MCQs | Page 5 of 8

Discover more Topics under General Knowledge

Q41.
The current price index (base 1960) is nearly 330. This means that

a.

all items cost 3-3 times more than what they did in 1960

b.

the prices of certain selected items have gone up to 3-3 times

c.

weighted means of prices of certain item has increased 3-3 times

d.

gold price has gone up 3-3 times

Discuss
Answer: (c).weighted means of prices of certain item has increased 3-3 times
Q42.
Notes on which denomination has the portrait of Mahatma Gandhi printed on them?

a.

1000 rupee

b.

500 rupee

c.

100 rupee

d.

All of the above

Discuss
Answer: (d).All of the above
Q43.
Devaluation of currency will be more beneficial if

a.

prices of domestic goods remain constant

b.

prices of exports remain constant

c.

prices of imports remains constant

d.

prices of exports rise proportionately

Discuss
Answer: (b).prices of exports remain constant
Q44.
Of the gross tax revenue of the Union Government the indirect taxes account for nearly

a.

70 per cent

b.

75 percent

c.

65 percent

d.

60 percent

Discuss
Answer: (c).65 percent
Q45.
The banks are required to maintain a certain ratio between their cash in the hand and totals assets. This is called

a.

Statutory Bank Ratio (SBR)

b.

Statutory Liquid Ratio (SLR)

c.

Central Bank Reserve (CBR)

d.

Central Liquid Reserve (CLR)

Discuss
Answer: (b).Statutory Liquid Ratio (SLR)
Q46.
Reserve Bank of India was nationalized in the year

a.

1935

b.

1945

c.

1949

d.

1969

Discuss
Answer: (c).1949
Q47.
In India, rural incomes are generally lower than the urban incomes, which of the following reasons account for this?
I. A large number of farmers are illiterate and know little about scientific agriculture
II. Prices of primary products are lower than those of manufactured products
III. Investment in agriculture has been low when compared to investment in industry

a.

I, II, III

b.

I, II

c.

I, III

d.

II, III

Discuss
Answer: (a).I, II, III
Q48.
National Agricultural Insurance Scheme replacing Comprehensive Crop Insurance Scheme was introduced in the year

a.

1997

b.

1998

c.

1999

d.

2000

Discuss
Answer: (c).1999
Q49.
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?

a.

Rs. 50,000 crores

b.

Rs. 25,000 crores

c.

Rs. 1,00,000 crores

d.

Rs. 1,25,000 crores

Discuss
Answer: (a).Rs. 50,000 crores
Q50.
Fiscal deficit in the Union Budget means

a.

the difference between current expenditure and current revenue

b.

net increase in Union Governments borrowings from the Reserve Bank of India

c.

the sum of budgetary deficit and net increase in internal and external borrowings

d.

the sum of monetized deficit and budgetary deficit

Discuss
Answer: (c).the sum of budgetary deficit and net increase in internal and external borrowings
Page 5 of 8