Indian Economy questions asked in previous year papers of SSC, Banking, Railway and other exams, with the exam and year, answers and explanations.
580 previous-year questions
PM MITRA Parks relate to which one of the following industries?
PM MITRA stands for PM Mega Integrated Textile Region and Apparel Parks, a scheme of the Ministry of Textiles to build large, world-class textile parks.
Read the full explanation →The Atal Innovation Mission (AIM) is set up by the
The Atal Innovation Mission (AIM) was set up by NITI Aayog in 2016 as the Government of India's flagship programme to promote innovation and entrepreneurship.
Read the full explanation →Which one of the following Five-Year Plan documents was titled as "Towards Faster and More Inclusive Growth"?
The Eleventh Five-Year Plan (2007–2012) carried the title "Towards Faster and More Inclusive Growth". The Eleventh Plan was prepared by the Planning Commission under Prime Minister Manmohan Singh, with Montek Singh Ahluwalia as Deputy Chairman.
Read the full explanation →Consider the following statements:
I. The Second Five-Year Plan sought to promote development which would establish socialistic pattern of society in India.
II. Between 1966 and 1969, three Annual Plans were formulated.
III. The Ninth Five-Year Plan could not take off at its stipulated time in the 60th year of India's Independence.
Which of the statements given above are correct?
Statements I and II are true, but the Ninth Plan began in 1997, the fiftieth year of Independence, not the sixtieth.
Read the full explanation →Which of the following statements about 'Saansad Adarsh Gram Yojana' (SAGY) is/are correct?
1. It comes under the Ministry of Parliamentary Affairs, Government of India.
2. It was launched in 2014 on the birth anniversary of Jayaprakash Narayan.
3. Mahatma Gandhi's vision of Gram Swaraj is the inspiration behind this scheme.
Select the answer using the codes given below :
SAGY is run by the Ministry of Rural Development, not the Ministry of Parliamentary Affairs, so statement 1 is wrong.
Read the full explanation →Which one of the following is not a strategy in the Rainfed Area Development (RAD) scheme of India?
Rainfed Area Development is meant for farms that depend on rain, not on canals, so improving canal irrigation is not one of its strategies.
Read the full explanation →If Labour Force Participation Rate (LFPR) is 50% and Worker Population Ratio (WPR) is 45%, what is the Unemployment Rate ?
The unemployment rate is the share of the labour force that has no work, so it is worked out as (LFPR − WPR) ÷ LFPR × 100.
Read the full explanation →Consider the following statements about Multidimensional Poverty Index (MPI): 1. MPI is calculated using Alkire-Foster methodology. 2. MPI calculated by NITI Aayog has a total of twelve indicators. 3. Maternal Health and Bank Account are common indicators in the MPI of NITI Aayog and MPI of United Nations Development Programme (UNDP). Which of the statements given above is/are correct?
Maternal health and bank account are the two indicators India added on its own, so they are not common to both indices.
Read the full explanation →India's reliance on imported energy exposes it to geopolitical supply shocks. In this context, what is the most likely short-term impact of a major disruption in crude oil imports?
When crude supply is disrupted, oil prices rise, and almost every good in India becomes costlier to make and move.
Read the full explanation →With reference to different Committees in India, consider the following details : (Committee — Objective — Organization under which it was formed) 1. R.N. Malhotra Committee — Comprehensive reforms of Insurance sector in India — Insurance Regulatory and Development Authority of India 2. L.C. Gupta Committee — Preparing a roadmap for introduction of derivatives trading in India — Securities and Exchange Board of India 3. Urjit R. Patel Committee — Preparing a roadmap for reforming bank lending to the Housing sector — Reserve Bank of India 4. Y.H. Malegam Committee — Preparing a roadmap for reforms in Microfinance sector in India — Reserve Bank of India In which of the above rows are all the details correctly matched ?
All details are right only in rows 2 and 4. The L.C.
Read the full explanation →India's fiscal deficit widens significantly due to increased Government spending on subsidies while tax revenue remains unchanged. Which one of the following is the most likely consequence?
A wider deficit financed by borrowing tends to push up inflation and interest rates, and higher interest rates can slow private investment.
Read the full explanation →With reference to Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, which of the following statements is/are correct?
1. It provides health insurance coverage to vulnerable families
2. It covers both secondary and tertiary care hospitalization
3. It is applicable to all citizens irrespective of income
Select the answer using the code given below:
Statements 1 and 2 describe the scheme correctly, while statement 3 does not, because the scheme is targeted at poor and vulnerable families rather than every citizen.
Read the full explanation →Which one of the following best describes the 'Crowding Out Effect' in the context of fiscal policy?
When a government runs a large fiscal deficit, it borrows heavily from the same pool of savings that businesses draw on.
Read the full explanation →Which one of the following best explains the "crowding-in effect" observed in India ?
Crowding-in means that government spending pulls private investment in rather than pushing it out. When the government builds roads, railways, ports and power lines, it lowers the cost of doing business and raises demand for cement, steel and machinery.
Read the full explanation →Which one of the following correctly represents the three key sub-indices of the Financial Inclusion Index (FI-Index) of the Reserve Bank of India (RBI) ?
The RBI's FI-Index is built from these three sub-indices. The RBI introduced the Financial Inclusion Index in August 2021 to measure how far financial inclusion has spread across the country.
Read the full explanation →The Multidimensional Poverty Index (MPI) is measured by:
The MPI measures the overlapping deprivations each person faces across indicators of health, education and standard of living. The global MPI was developed in 2010 by the Oxford Poverty and Human Development Initiative and the UNDP.
Read the full explanation →Which of the following statements with respect to the Gender Inequality Index (GII) is/are correct?
1. GII reflects gender-based disadvantage in work participation, property and income dimensions.
2. GII reflects gender-based disadvantage in reproductive health, empowerment and the labour market dimensions.
3. The value of GII ranges from 0 to 1, with a GII of 0 indicating women and men faring equally in all dimensions.
Select the answer using the codes given below :
The GII measures gender gaps in reproductive health, empowerment and the labour market, and its value runs from 0 to 1.
Read the full explanation →Consider the following statements regarding Industrial Corridors in India :
1. They are linear development zones.
2. They connect all major State capitals through an integrated network of roads, railways, ports and airports.
3. They promote acceleration of industrial growth.
Which of the statements given above is/are correct?
Industrial corridors are linear development belts built along a transport spine to speed up industrial growth, but they do not link all State capitals.
Read the full explanation →Under the Ministry of Finance, which Department is responsible for giving advice on economic issues having a bearing on internal and external aspects of economy including foreign exchange management?
It is the Finance Ministry's nodal department for economic policy, at home and abroad, including the management of foreign exchange.
Read the full explanation →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 :
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.
Read the full explanation →