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Indian Economy GK Questions with Answers – Page 22

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Indian Economy multiple choice questions with answers and explanations, 20 per page, for SSC, Banking, UPSC, Railway and state exams.

1127 questions

Indian Economy NotesOnly previous-year questions (580)GK Quiz
Q421.Indian EconomyAsked in: UPSC Civil Services · CSE Prelims 2026, GS Paper IEasy

Which among the following is/are the objective(s) of the Rainfed Area Development (RAD) initiative under the National Mission for Sustainable Agriculture (NMSA) ?

1. Encouraging monoculture in rainfed areas

2. Increasing rice cultivation in irrigated regions

3. Enhancing productivity and minimising climatic risks through Integrated Farming Systems (IFS)

Select the answer using the code given below :

  1. A.1 only
  2. B.1 and 2
  3. C.2 and 3
  4. D.3 only
Show answer
Correct answer: D. 3 only

RAD aims to raise productivity and cut climate risk in rainfed farming by promoting Integrated Farming Systems. The National Mission for Sustainable Agriculture is one of the missions under India's National Action Plan on Climate Change.

Q422.Indian EconomyAsked in: UPSC Civil Services · CSE Prelims 2023, GS Paper IMedium

Consider the investments in the following assets :

1. Brand recognition

2. Inventory

3. Intellectual property

4. Mailing list of clients

How many of the above are considered intangible investments?

  1. A.Only one
  2. B.Only two
  3. C.Only three
  4. D.All four
Show answer
Correct answer: C. Only three

Brand recognition, intellectual property and a client mailing list have no physical form, while inventory is a stock of physical goods.

Q423.Indian EconomyAsked in: CDS · CDS-I 2021, GKEasy

Mission Indradhanush aims at

  1. A.reducing child deaths due to pneumonia.
  2. B.reducing the impact of rotavirus.
  3. C.elimination of maternal tetanus.
  4. D.full immunisation of children.
Show answer
Correct answer: D. full immunisation of children.

Mission Indradhanush was launched in December 2014 to bring every child under two years and every pregnant woman under full immunisation against vaccine-preventable diseases.

Q424.Indian EconomyAsked in: CDS · CDS-I 2021, GKEasy

The Saubhagya Scheme aims at universal

  1. A.LPG connection.
  2. B.household electrification.
  3. C.primary school education.
  4. D.public health insurance.
Show answer
Correct answer: B. household electrification.

Saubhagya, the Pradhan Mantri Sahaj Bijli Har Ghar Yojana, was launched to give an electricity connection to every household in the country.

Q425.Indian EconomyAsked in: UPSC CAPF · CAPF 2021, Paper IMedium

How is the magnitude of price elasticity for an individual good determined? 1. By the degree to which the good is a necessity or luxury 2. By the extent to which substitutes are available 3. By the rate of income growth in the economy 4. By the relative importance of the good in the consumer's budget Select the correct answer using the code given below.

  1. A.1, 2 and 3
  2. B.1 and 4 only
  3. C.1, 2 and 4
  4. D.3 and 4
Show answer
Correct answer: C. 1, 2 and 4

The nature of the good, its substitutes and its share in the budget decide how strongly demand reacts to price; the growth of income in the economy does not.

Q426.Indian EconomyAsked in: UPSC CAPF · CAPF 2021, Paper IMedium

Which one of the following statements about production possibility frontier is not correct?

  1. A.The production possibility frontier slopes downwards to the right as the resources are limited.
  2. B.The different combinations of various goods and services given the available resources and technology are denoted by the production possibility frontier.
  3. C.Any point on or inside the production possibility frontier is attainable under the existing technology and resources.
  4. D.On the production possibility frontier, the output of one commodity can be increased without changing the output of another commodity.
Show answer
Correct answer: D. On the production possibility frontier, the output of one commodity can be increased without changing the output of another commodity.

On the frontier all resources are already fully used, so more of one good can be produced only by giving up some of the other.

Q427.Indian EconomyAsked in: UPSC Civil Services · CSE Prelims 2025, GS Paper IEasy

Consider the following statements about the Rashtriya Gokul Mission :

I. It is important for the upliftment of rural poor as majority of low producing indigenous animals are with small and marginal farmers and landless labourers.

II. It was initiated to promote indigenous cattle and buffalo rearing and conservation in a scientific and holistic manner.

Which of the statements given above is/are correct?

  1. A.I only
  2. B.II only
  3. C.Both I and II
  4. D.Neither I nor II
Show answer
Correct answer: C. Both I and II

The Rashtriya Gokul Mission was launched to conserve and develop indigenous cattle and buffalo breeds scientifically, and it matters most to the small farmers and landless labourers who keep most of these animals.

Q428.Indian EconomyAsked in: UPSC Civil Services · CSE Prelims 2019, GS Paper IEasy

Atal Innovation Mission is set up under the

  1. A.Department of Science and Technology
  2. B.Ministry of Labour and Employment
  3. C.NITI Aayog
  4. D.Ministry of Skill Development and Entrepreneurship
Show answer
Correct answer: C. NITI Aayog

The Atal Innovation Mission (AIM) was set up in 2016 by NITI Aayog as the Government of India's flagship programme to promote innovation and entrepreneurship.

Q429.Indian EconomyAsked in: UPSC Civil Services · CSE Prelims 2023, GS Paper IHard

Consider the following statements :

1. The Government of India provides Minimum Support Price for niger (Guizotia abyssinica) seeds.

2. Niger is cultivated as a Kharif crop.

3. Some tribal people in India use niger seed oil for cooking.

How many of the above statements are correct?

  1. A.Only one
  2. B.Only two
  3. C.All three
  4. D.None
Show answer
Correct answer: C. All three

Nigerseed is one of the oilseeds covered by MSP, it is grown mainly in the kharif season, and tribal communities use its oil for cooking.

Q430.Indian EconomyAsked in: UPSC Civil Services · CSE Prelims 2016, GS Paper IMedium

Why does the Government of India promote the use of 'Neem-coated Urea' in agriculture?

  1. A.Release of Neem oil in the soil increases nitrogen fixation by the soil microorganisms
  2. B.Neem coating slows down the rate of dissolution of urea in the soil
  3. C.Nitrous oxide, which is a greenhouse gas, is not at all released into atmosphere by crop fields
  4. D.It is a combination of a weedicide and a fertilizer for particular crops
Show answer
Correct answer: B. Neem coating slows down the rate of dissolution of urea in the soil

The neem layer releases nitrogen slowly, so crops take up more of it and less is lost. Plain urea dissolves fast and much of its nitrogen is lost by leaching into groundwater and as gases.

Q431.Indian EconomyAsked in: UPSC Civil Services · CSE Prelims 2017, GS Paper IHard

With reference to the 'Prohibition of Benami Property Transactions Act, 1988' (PBPT Act), consider the following statements :

1. A property transaction is not treated as a benami transaction if the owner of the property is not aware of the transaction.

2. Properties held benami are liable for confiscation by the Government.

3. The Act provides for three authorities for investigations but does not provide for any appellate mechanism.

Which of the statements given above is/are correct?

  1. A.1 only
  2. B.2 only
  3. C.1 and 3 only
  4. D.2 and 3 only
Show answer
Correct answer: B. 2 only

Benami property can be confiscated by the Central Government, but the Act covers transactions the owner is unaware of and it does provide an appeal.

Q432.Indian EconomyAsked in: NDA · NDA-I 2024, GATMedium

Which one of the following statements regarding the objectives of the Second Five-Year Plan is not correct ?

  1. A.Development of the basic and heavy industry sector
  2. B.Increase in national income to raise living standards
  3. C.Expansion of the consumer goods sector
  4. D.Expansion of employment opportunities
Show answer
Correct answer: C. Expansion of the consumer goods sector

The Second Plan put its stress on basic and heavy industries, not on consumer goods, which were left mainly to small and cottage industries.

Q433.Indian EconomyHard

Decimal coinage, under which the rupee was divided into one hundred paise, was introduced in India in which year?

  1. A.1947
  2. B.1950
  3. C.1957
  4. D.1964
Show answer
Correct answer: C. 1957

Decimal coinage came into force on 1 April 1957 under the Indian Coinage Amendment Act, and the rupee, which had earlier been divided into sixteen annas, each of four pice or twelve pies, was divided into one hundred paise; the new coin was called the naya paisa until 1964, when…

Q434.Indian EconomyEasy

Whose signature appears on Indian banknotes of denominations above one rupee?

  1. A.The Finance Secretary
  2. B.The Governor of the Reserve Bank of India
  3. C.The Union Finance Minister
  4. D.The President of India
Show answer
Correct answer: B. The Governor of the Reserve Bank of India

Every banknote above one rupee is issued by the Reserve Bank under Section 22 of its Act and carries the promise to pay the bearer, signed by the Governor, which is why these notes are called promissory notes of the Bank.

Q435.Indian EconomyMedium

The Reserve Bank withdrew the two thousand rupee note from circulation in May 2023. Which statement about that note is correct?

  1. A.It ceased to be legal tender at once
  2. B.It continues to be legal tender
  3. C.It was never legal tender
  4. D.It was replaced by a five thousand rupee note
Show answer
Correct answer: B. It continues to be legal tender

On 19 May 2023 the Reserve Bank announced the withdrawal of the two thousand rupee note from circulation under its Clean Note Policy and asked banks to stop issuing it, while making it clear that the note was not being demonetised and would remain legal tender; holders were given a…

Q436.Indian EconomyEasy

On which date were the five hundred and one thousand rupee notes declared to cease being legal tender in India?

  1. A.8 November 2016
  2. B.19 May 2023
  3. C.1 April 2017
  4. D.16 January 1978
Show answer
Correct answer: A. 8 November 2016

The notes of five hundred and one thousand rupees in the Mahatma Gandhi series ceased to be legal tender from the midnight of 8 November 2016, the stated purposes being action against unaccounted money, counterfeit currency and the financing of terrorism; a new five hundred rupee note and a two…

Q437.Indian EconomyMedium

The demonetisation of high denomination notes in January 1978 took place when who was the Prime Minister of India?

  1. A.Indira Gandhi
  2. B.Morarji Desai
  3. C.Charan Singh
  4. D.Lal Bahadur Shastri
Show answer
Correct answer: B. Morarji Desai

The High Denomination Bank Notes (Demonetisation) Act was passed in January 1978, when the Janata Party government led by Morarji Desai was in office, and it withdrew the notes of one thousand, five thousand and ten thousand rupees that had been reintroduced in 1954.

Q438.Indian EconomyEasy

The Indian rupee symbol, adopted in 2010, was designed by whom?

  1. A.D. Udaya Kumar
  2. B.Nandan Nilekani
  3. C.Pingali Venkayya
  4. D.Raghuram Rajan
Show answer
Correct answer: A. D. Udaya Kumar

The rupee symbol was adopted by the Union Cabinet on 15 July 2010 after a public competition, and the winning design by D. Udaya Kumar, then a research scholar at the Indian Institute of Technology Bombay, joins the Devanagari letter ra with the Roman capital R and carries two parallel…

Q439.Indian EconomyHard

The banknote presses at Mysuru and Salboni are run by Bharatiya Reserve Bank Note Mudran Private Limited, a subsidiary of which institution?

  1. A.Reserve Bank of India
  2. B.State Bank of India
  3. C.Ministry of Finance
  4. D.Security Printing and Minting Corporation of India
Show answer
Correct answer: A. Reserve Bank of India

Bharatiya Reserve Bank Note Mudran Private Limited was set up in 1995 as a wholly owned subsidiary of the Reserve Bank and runs the two banknote presses at Mysuru in Karnataka and Salboni in West Bengal.