Indian Economy – GK Quiz

Indian Economy – GK Quiz

1. The budget deficit means

2. Paper currency first started in India in

3. Devaluation of currency leads to

4. In utensils worth Rs 1000 are produced with copper worth Rs 500, wages paid are Rs 100, other material purchased is worth Rs 100 and depreciation of machinery is zero, then what is the value added in process?

5. Since 1983, the RBI's responsibility with respect to regional rural banks was transferred to

6. Deficit financing implies

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

8. Which of the following is not a part of machinery that settles industrial disputes?

9. The ARDC is now a branch of the

10. In which of the following sequences the change in quantity of money leads to change in price level in the Keynesian models?

11. The average rate of domestic savings (gross) for the Indian economy is currently estimated to be in the range of

12. Resurgent India Bonds were issued in US dollar, Pound Sterling and

13. National expenditure includes

14. The apex body for formulating plans and coordinating research work in agriculture and allied fields is

15. Short-term finance is usually for a period ranging up to

16. Which of the following is not an undertaking under the administrative control of Ministry of Railways?

17. If the RBI adopts an expansionist open market operations policy, this means that it will

18. In India, which one among the following formulates the fiscal policy?

19. Redistribution polices geared to reduce economic inequalities include

20. Subsidies mean

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

22. In India, rural incomes are generally lower than the urban incomes, which of the following reasons account for this?
A large number of farmers are illiterate and know little about scientific agriculture
Prices of primary products are lower than those of manufactured products
Investment in agriculture has been low when compared to investment in industry

23. The annual yield from which of the following Union Government taxes is the highest?

24. National Agricultural Insurance Scheme replacing Comprehensive Crop Insurance Scheme was introduced in the year

25. 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?

26. Reserve Bank of India was nationalized in the year

27. Fiscal deficit in the Union Budget means

28. In India, the first bank of limited liability manages by Indians and founded in 1881 was

29. How many banks were nationalized in 1969?

30. In India, inflation measured by the

31. Since the inception of the co-operative movement, rural credits has been

32. If an economy is equilibrium at the point where plans to save and to invest are equal, then government expenditure must be

33. Revenue of the state governments are raised from the following sources, except

34. Regional rural banks
I. have limited area of operation
II. have free access to liberal refinance facilities from NABARD
III. are required to lend only to weaker sections

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

36. The co-operative credit societies have a

37. Notes on which denomination has the portrait of Mahatma Gandhi printed on them?

38. Of the gross tax revenue of the Union Government, the indirect taxes account for nearly

39. Devaluation of currency will be more beneficial if

40. The Board of Industrial and Financial Reconstruction (BIFR) came into existence in



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