Indian Economy Quiz 4 – General Knowledge


1. Which of the following Indian banks became the first to touch a market capitalisation of Rs.100000 Crore in India ?


Answer : Option c


2. The Commission in India dealing with minimum support price procurement price etc in connection with agricultural goods is the

A. Planning Commission
B. Agricultural Costs and Prices Commission
C. Agricultural Price Commission
D. National Marketing Commission

Answer : Option A


3. Which one of the following is not correct ?

A. First Five Year Plan1951-56
B. Second Five Year Plan1956-61
C. Third Five Year Plan1961 -66
D. Fourth Five Year Plan1966-71

Answer : Option D


4. In the post independence period economic reforms were first introduced in India under

A. P.V. Narasimha Rao Government (1990)
B. Indira Gandhi Government (1980)
C. Rajiv Gandhi Government (1985)
D. Janata Party Government (1977)

Answer : Option A


5. The Report of Vijay Kelkar Committee relates to

A. Trade Reforms
B. Centre State Financial Relations
C. Disinvestment in Public Sector Enterprises
D. Tax Reforms

Answer : Option D


6. The famous slogan “GARIBI HATAO” (Remove Poverty) was launched during the

A. First Five Year Plan (1951-56)
B. Second Five Year Plan (1956-61)
C. Third Five Year Plan (1961- 66)
D. Fourth Five Year Plan (1966-71)

Answer : Option D


7. The highest body which approves the Five Year Plan in India is the

A. Planning Commission
B. National Development Council
C. Finance Ministry
D. Union Cabinet

Answer : Option B


8. RBI does not transact the business of which State Government?

A. Nagaland
B. Jammu and Kashmir
C. Punjab
D. Assam

Answer : Option B


9. In the budget figures of the Government of India interest payments subsidies pensions social services and the like are parts of the

A. Plan Expenditure
B. State Government Expenditure:
C. Public Debt in the form of Capital Expenditure
D. Non-plan Expenditure

Answer : Option D


10. Who coined the term Hindu rate of growth for Indian economy?

A. A.K. Sen
B. Kirit S. Parikh
C. Raj Krishna
D. Montek Singh Ahluwalia

Answer : Option C


11. The national income of a country is

A. Government annual revenue
B. Total productive income
C. Surplus of the public sector enterprise
D. Export(Loan) Import

Answer : Option B


12. Under the minimum reserve system the Reserve Bank of India as the sole authority of note issue is required to maintain assets worth not less than

A. 115 crores of rupees
B. 85 crores of rupees
C. 200 crores of rupees
D. 210 crores of rupees

Answer : Option C


13. Which amidst the following taxes collected by the Union is NOT mandated to be assigned to the States?

A. Terminal taxes on goods or passengers carried by railway sea or air
B. Taxes on railway fares and freights
C. Taxes on consignment of goods
D. Service Tax

Answer : Option D


14. One of the objectives of Industrial Licensing Policy in India was to ensure :

A. Creation of adequate employment opportunities.
B. Free flow of foreign capital In Indian Industries.
C. Use of modem technology.
D. Balanced Industrial development across regions.

Answer : Option D


15. Currency notes of Rs. 2 denomination and above are liabilities of

A. Government of India
B. Reserve Bank of India
C. State Bank of India
D. All of the above

Answer : Option B