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Indian Economy GK Questions with Answers – Page 4

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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
Q61.Indian EconomyAsked in: CDS · CDS-I 2024, GKMedium

Which of the following are included in M1 definition of money for the Indian economy? 1. Reserves 2. Currency 3. Time deposits 4. Demand deposits Select the correct answer using the code given below.

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

M1, called narrow money, is the most liquid measure of money supply in India. It is made up of currency with the public, demand deposits with banks, and other deposits with the Reserve Bank of India.

Q62.Indian EconomyAsked in: CDS · CDS-I 2024, GKMedium

Level of per capita GDP depends upon which of the following? 1. Proportion of population in the working age 2. Work participation rate 3. Per worker productivity Select the correct answer using the code given below.

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

Per capita GDP is total output divided by total population, and it can be broken into three parts that multiply together.

Q63.Indian EconomyAsked in: CDS · CDS-I 2024, GKHard

Which of the following components of Central Government taxes on petroleum products is/are not shareable with the States? 1. Basic Excise Duty 2. Additional Excise Duty 3. Special Additional Excise Duty Select the correct answer using the code given below.

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

The Union excise levied on petrol and diesel has three parts. Basic Excise Duty is an ordinary Union tax, so it goes into the divisible pool and a share of it reaches the states as recommended by the Finance Commission under Article 270.

Q64.Indian EconomyAsked in: CDS · CDS-I 2024, GKHard

Which of the following statements with regard to the Report of Tendulkar Committee (2009) on poverty estimates is/are correct? 1. The Committee had used an all-India urban poverty line basket as a reference to derive both rural and urban poverty levels. 2. The Committee had anchored the poverty line to the official food calorie norms. Select the correct answer using the code given below.

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

The Suresh Tendulkar expert group, which reported to the Planning Commission in 2009, deliberately moved away from the old calorie-based poverty line.

Q66.Indian EconomyAsked in: CDS · CDS-I 2025, GKEasy

Core inflation is :

  1. A.CPI headline inflation minus all non-food items
  2. B.WPI inflation minus all food and non-food items
  3. C.CPI headline inflation minus food and energy items
  4. D.WPI inflation minus food and energy items
Show answer
Correct answer: C. CPI headline inflation minus food and energy items

Core inflation leaves out food and fuel, whose prices swing sharply with monsoons, harvests and world oil prices, so that it shows the steady, underlying trend of prices.

Q68.Indian EconomyAsked in: CDS · CDS-II 2023, GKEasy

What does India's "Blue growth" refer to ?

  1. A.Upgradation of Indian Air Force
  2. B.Discouraging farmers from using pesticides
  3. C.A long-term strategy to support sustainable growth in the marine and maritime sectors
  4. D.Socio-economic empowerment of India's blue collar workers in the unorganized sector
Show answer
Correct answer: C. A long-term strategy to support sustainable growth in the marine and maritime sectors

Blue growth means using the sea for economic progress without harming the health of the ocean. The idea, part of the wider blue economy, covers fisheries and aquaculture, shipping and ports, coastal tourism, offshore energy, seabed minerals and marine biotechnology.

Q69.Indian EconomyAsked in: CDS · CDS-I 2024, GKMedium

Which of the following statements is/are correct? 1. Most of India's reserves is held in the form of foreign currency. 2. There is no cost of holding foreign currency as reserves by a nation. Select the correct answer using the code given below.

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

Foreign currency assets make up the largest part of India's foreign exchange reserves, but holding them is never free, so statement 2 is false.

Q72.Indian EconomyAsked in: CDS · CDS-I 2020, GKMedium

Which of the following are considered to be the four pillars of human development?

  1. A.Equity, inclusion, productivity and empowerment
  2. B.Equity, productivity, empowerment and sustainability
  3. C.Productivity, gender, inclusion and equity
  4. D.Labour, productivity, inclusion and equity
Show answer
Correct answer: B. Equity, productivity, empowerment and sustainability

These are the four pillars of human development set out by the economist Mahbub ul Haq, who led the team that prepared the first Human Development Report for the UNDP in 1990, working closely with Amartya Sen.

Q73.Indian EconomyAsked in: CDS · CDS-I 2024, GKMedium

Which of the following statements is/are correct?

1. A price index captures the change in the average price of a constant basket of commodities.

2. If the price index takes values 100, 110 and 121 in three consecutive years respectively, then the inflation rates in the 2nd and 3rd years are 10% and 21% respectively.

Select the correct answer using the code given below.

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

Statement 1 defines a price index correctly, but statement 2 gets the third year's inflation wrong. A price index such as the Consumer Price Index tracks the cost of a fixed basket of goods and services over time, compared with a base year whose value is set at 100.

Q74.Indian EconomyAsked in: CDS · CDS-I 2021, GKEasy

Which of the following is/are social security scheme(s) ?

1. Atal Pension Yojana

2. Pradhan Mantri Jeevan Jyoti Bima Yojana

3. Pradhan Mantri Suraksha Bima Yojana

Select the correct answer using the code given below :

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

All three are social security schemes, launched together by the Government of India on 9 May 2015 to give pension and insurance cover to ordinary people, especially in the unorganised sector.

Q75.Indian EconomyAsked in: CDS · CDS-I 2024, GKHard

Which of the following statements is/are correct?

1. GDP deflator captures the average price of an unchanging basket of commodities that constitutes the GDP of the country.

2. GDP deflator can be used to measure the real GDP of the economy but not the inflation rate.

Select the correct answer using the code given below.

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

Both statements misdescribe the GDP deflator. The deflator is the ratio of nominal GDP to real GDP, multiplied by 100.

Q76.Indian EconomyAsked in: NDA · NDA-I 2017, GATHard

Which one of the following is NOT a target of the 12th Five-Year Plan ?

  1. A.Real GDP Growth Rate of 8 per cent
  2. B.Agriculture Growth Rate of 5 per cent
  3. C.Manufacturing Growth Rate of 10 per cent
  4. D.Increase in green cover by 1 million hectare every year during the Plan period
Show answer
Correct answer: B. Agriculture Growth Rate of 5 per cent

The Twelfth Five-Year Plan (2012–17) aimed at 4 per cent growth in agriculture, not 5 per cent. The Twelfth Plan, titled Faster, More Inclusive and Sustainable Growth, was the last five-year plan; after it the Planning Commission was replaced by NITI Aayog in 2015.

Q77.Indian EconomyAsked in: CDS · CDS-II 2019, GKEasy

Which one of the following is an example of a price floor?

  1. A.Minimum Support Price (MSP) for Jowar in India
  2. B.Subsidy given to farmers to buy fertilizers
  3. C.Price paid by people to buy goods from ration shops
  4. D.Maximum Retail Price (MRP) printed on the covers/packets of goods sold in India
Show answer
Correct answer: A. Minimum Support Price (MSP) for Jowar in India

A price floor is a lowest price fixed by the government, and the MSP guarantees farmers that price for crops such as jowar.

Q78.Indian EconomyAsked in: CDS · CDS-II 2022, GKEasy

Which one of the following assists a country through 'Extended Fund Facility', often talked about in news?

  1. A.International Fund for Agricultural Development
  2. B.International Monetary Fund
  3. C.International Bank for Reconstruction and Development
  4. D.United Nations Development Programme
Show answer
Correct answer: B. International Monetary Fund

The Extended Fund Facility is a lending arrangement of the International Monetary Fund for countries with serious balance of payments problems.

Q79.Indian EconomyAsked in: CDS · CDS-I 2023, GKMedium

Which of the following is/are the objective/objectives of the Pradhan Mantri Swasthya Suraksha Yojana (PMSSY)? 1. Correcting regional imbalances in the availability of tertiary health care services 2. Providing universal access to public health services and universal immunization 3. Augmenting facilities for quality medical education in the country Select the correct answer using the code given below.

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

PMSSY was set up to correct regional imbalances in tertiary health care and to improve medical education; universal immunisation is not its aim.