Indian Economy - Multiple Choice Questions (MCQs) – Page 1

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Recent MCQs

Consider the following statements regarding NITI Aayog:

1. It serves as a 'Think Tank' for the government.
2. It has the power to allocate funds to states.

Which of the statements given above is/are correct?

  1. 1 only
  2. 2 only
  3. Both 1 and 2
  4. Neither 1 nor 2
Indian Economy

What does FDI stand for?

  1. Foreign Direct Investment
  2. Financial Derivative Instrument
  3. Fiscal Deficit Index
  4. Foreign Development Initiative
Indian Economy

What is 'e-NAM' related to?

  1. Electronic National Agriculture Market
  2. Electronic National Aviation Mission
  3. Electronic National Ayush Mission
  4. Electronic National Archives of Medicine
Indian Economy

The FRBM Act primarily aims to:

  1. Increase government spending
  2. Reduce fiscal deficit and promote fiscal discipline
  3. Control inflation
  4. Increase tax rates
Indian Economy

Which of the following is a function of commercial banks?

  1. Controlling inflation
  2. Issuing currency
  3. Accepting deposits and granting loans
  4. Acting as banker to the government
Indian Economy

What is 'Core Inflation'?

  1. Inflation in the energy sector
  2. Inflation in the food sector
  3. Overall Inflation rate
  4. Inflation excluding volatile items like food and fuel
Indian Economy

Which of the following is the correct formula for calculating GDP at market price?

  1. GDP at factor cost + Indirect Taxes - Subsidies
  2. GDP at factor cost - Indirect Taxes + Subsidies
  3. GDP at factor cost + Direct Taxes - Subsidies
  4. GDP at factor cost - Direct Taxes + Subsidies
Indian Economy

Which of the following is NOT a Sustainable Development Goal (SDG)?

  1. Zero Hunger
  2. Quality Education
  3. Space Exploration
  4. Climate Action
Indian Economy

What does ESG investing primarily consider?

  1. Economic Growth, Social Progress, and Governmental Policies
  2. Environmental, Social, and Governance factors
  3. Equity, Security, and Growth potential
  4. Employment, Sustainability, and Globalization
Indian Economy

Gender Budgeting primarily focuses on:

  1. Allocating separate budgets for men and women
  2. Analyzing the impact of the budget on different genders
  3. Promoting women in government jobs
  4. Increasing the overall budget allocation for social sector
Indian Economy

Which committee is associated with poverty estimation in India using the Mixed Reference Period (MRP)?

  1. Lakdawala Committee
  2. Tendulkar Committee
  3. Rangarajan Committee
  4. Narasimham Committee
Indian Economy

The LPG reforms of 1991 refer to:

  1. Liquefied Petroleum Gas reforms
  2. Liberalization, Privatization, and Globalization
  3. Land Policy and Governance reforms
  4. Labour Policy and Growth reforms
Indian Economy

What is the main objective of the Foreign Exchange Management Act (FEMA)?

  1. To promote and regulate foreign trade and payments
  2. To control inflation
  3. To manage the fiscal deficit
  4. To regulate the stock market
Indian Economy

A current account deficit implies that:

  1. Exports are greater than imports
  2. Imports are greater than exports
  3. Exports are equal to imports
  4. There is a surplus in the capital account
Indian Economy

Which of the following is a characteristic of the 1991 Industrial Policy?

  1. Increased role of the public sector
  2. Promotion of import substitution
  3. Reduction in the number of industries reserved for the public sector
  4. Strengthening of licensing Raj
Indian Economy

What is the primary objective of the PM-KISAN scheme?

  1. To provide irrigation facilities to farmers
  2. To provide financial assistance to small and marginal farmers
  3. To promote organic farming
  4. To provide insurance coverage to farmers
Indian Economy

The Goods and Services Tax (GST) Council is chaired by whom?

  1. The President of India
  2. The Prime Minister of India
  3. The Union Finance Minister
  4. The Governor of RBI
Indian Economy

Fiscal Deficit is the difference between:

  1. Total Revenue and Total Expenditure
  2. Revenue Receipts and Revenue Expenditure
  3. Total Expenditure and Revenue Receipts plus Non-debt creating capital receipts
  4. Capital Expenditure and Capital Receipts
Indian Economy

Which of the following is NOT a tool of monetary policy used by the RBI to control inflation?

  1. Cash Reserve Ratio (CRR)
  2. Statutory Liquidity Ratio (SLR)
  3. Open Market Operations (OMO)
  4. Tax Rate Adjustments
Indian Economy

Which of the following sectors constitutes the largest share of India's GDP?

  1. Primary Sector
  2. Secondary Sector
  3. Tertiary Sector
  4. None of the above
Indian Economy

Which of the following statements related to Prevention of Money Laundering Act (PMLA) is not true ?

  1. It includes all major offences which help in generation of black money.
  2. Tax evasion and smuggling have been kept out of the definition of money laundering.
  3. Any case under this Act is non-bailable.
  4. The Director of Money Laundering is not given power to call for the records maintained by Financial Institutions (FIs).
Indian Economy