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Indian Economy MCQ Question and Answer

1.Indian state with highest road length is

  • AMaharashtra
  • BUttar Pradesh
  • CRajasthan
  • DAndhra Pradesh
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Correct Answer : (A)

Maharashtra
Explanation:

2.The first wholly Indian Bank is

  • APunjab National Bank
  • BCentral Bank of India
  • CCanara Bank
  • DState Bank of India
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Correct Answer : (A)

Punjab National Bank
Explanation:

3.The first wholly Indian Bank was set up in

  • A1990
  • B1992
  • C1994
  • D1996
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Correct Answer : (C)

1994
Explanation:

4.The programme which was launched in 1974-75 with the main objectives of improving the utilization of created irrigation potential is

  • ACommand Area Development (CAD)
  • BCordial Area Development
  • CCopper Area Development
  • DCop Authority Development
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Correct Answer : (A)

Command Area Development (CAD)
Explanation:

5.Yellow revolution in India is associated with

  • Aproduction of tea
  • Bproduction of oil seeds
  • Cproduction of flower
  • Dproduction of paddy
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Correct Answer : (B)

production of oil seeds
Explanation:

6.Depreciation means

  • Aclosure of a plant due to lock out
  • Bclosure of a plant due to labour trouble
  • Closs of equipment over time due to wear and tear
  • Ddestruction of a plant in a fire accident
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Correct Answer : (C)

loss of equipment over time due to wear and tear
Explanation:

7.Devaluation of a currency means

  • Afall in exchange value of a country by market forces
  • Breduction in external value/exchange value of currency by the government
  • Creduction in currency value due to wear and tear
  • Dall of the above
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Correct Answer : (B)

reduction in external value/exchange value of currency by the government
Explanation:

8.Gilt-edged market means

  • Abullion market
  • Bmarket of government securities
  • Cmarket of guns
  • Dmarket of pure metals
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Correct Answer : (B)

market of government securities
Explanation:

9.Development expenditure of the Central government does not include

  • Adefence expenditure
  • Bexpenditure on economic services
  • Cexpenditure on social and community services
  • Dgrant to states
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Correct Answer : (A)

defence expenditure
Explanation:

10.The central banking functions in India are performed by the

  • ACentral Bank of India
  • BReserve Bank of India
  • CState Bank of India
  • DPunjab National Bank
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Correct Answer : (B)

Reserve Bank of India
Explanation:

11.Rice, Millet (Jawar-Bajra), Maize and cotton is the group which belongs to

  • ARabi crop
  • BKharif crop
  • CBoth A and B
  • DNone of the above
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Correct Answer : (B)

Kharif crop
Explanation:

12.The largest producer of Coffee in the country is

  • AKerala
  • BTamil Nadu
  • CAndhra Pradesh
  • DKarnataka
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Correct Answer : (D)

Karnataka
Explanation:

13.The Ex-Officio Secretary of National Development Council is

  • ASecretary of Finance Ministry
  • BGeneral Secretary of Lok Sabha
  • CSecretary of Planning Commission
  • DVice Chairman of Planning Commission
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Correct Answer : (C)

Secretary of Planning Commission
Explanation:

14.If the cash reserve ratio is lowered by the RBI, its impact on credit creation will be to

  • Aincrease it
  • Bdecrease it
  • Cno impact
  • DNone of the above
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Correct Answer : (A)

increase it
Explanation:

15.Gross domestic capital formation is defined as

  • Aflow of expenditure devoted to increased or maintaining of the capital stock
  • Bexpenditure incurred on physical assets only
  • Cproduction exceeding demand
  • Dnet addition to stock after depreciation
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Correct Answer : (D)

net addition to stock after depreciation
Explanation:

16.The association of the rupee with pound sterling as the intervention currency was broken in

  • A1990
  • B1991
  • C1992
  • D1993
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Correct Answer : (B)

1991
Explanation:

17.India changed over to the decimal system of coinage in

  • AApril 1955
  • BApril 1957
  • CApril 1958
  • DApril 1959
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Correct Answer : (B)

April 1957
Explanation:

18.If all the banks in an economy are nationalized and converted into a monopoly bank, the total deposits

  • Awill decrease
  • Bwill increase
  • Cwill neither increase nor decrease
  • DNone of the above
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Correct Answer : (C)

will neither increase nor decrease
Explanation:

19.Deficit financing leads to inflation in general, but it can be checked if

  • Agovernment expenditure leads to increase in the aggregate supply in ratio of aggregate demand
  • Bonly aggregate demand is increased
  • Call the expenditure is denoted national debt payment only
  • DAll of the above
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Correct Answer : (D)

All of the above
Explanation:

20.In pursuance with the recommendations of Narsimham Committee, the RBI has framed new guidelines

  • Ato govern entry of new private sector banks to make the banking sector more competitive
  • Bto reduce the freedom given to banks to rationalize their existing branch network
  • Cto setup more foreign exchange banks
  • Dto lend more easily for industrial development
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Correct Answer : (A)

to govern entry of new private sector banks to make the banking sector more competitive
Explanation:

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