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
Price control and rationing are direct control measures to check __________.
Inflation is a sustained rise in the general price level, measured in India by the CPI and the WPI.
Read the full explanation →Plan allocation in agriculture and irrigation as percentage of total plan outlay was highest in :
The First Plan (1951 to 1956) gave agriculture, community development and irrigation about a third of its outlay, the highest share in any Indian plan.
Read the full explanation →According to the National Multi-dimensional Poverty Index (MPI) constructed by the NITI Aayog, a household is considered deprived if 1. a single member of the household is identified as under-nourished 2. the body mass index of a woman member, between 15 years and 49 years of age, is below 18.5 kg/m2 Select the correct answer using the code given below.
Under the nutrition indicator, a household is deprived if any one eligible member is undernourished, and a woman of 15 to 49 with a BMI below 18.5 counts as undernourished.
Read the full explanation →Which one of the following statements about Mission Indradhanush, launched by the Government of India in 2014, is correct ?
Mission Indradhanush aims to raise full immunisation coverage among children, and it also covers pregnant women. The Ministry of Health and Family Welfare launched it on 25 December 2014 to reach children who had been left out or only partly vaccinated under the routine Universal Immunisation Programme.
Read the full explanation →Who among the following is known as the architect of Indian planning ?
Mahalanobis. His model shaped the Second Five Year Plan (1956-61), which set India's path of heavy industrialisation, so he is called the architect of Indian planning.
Read the full explanation →What does India's "Blue growth" refer to ?
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.
Read the full explanation →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.
PMSSY was set up to correct regional imbalances in tertiary health care and to improve medical education; universal immunisation is not its aim.
Read the full explanation →The unemployment that occurs due to changes in the technology or in the demand for particular products is called
Structural unemployment arises when the structure of the economy changes, through new technology or a lasting shift in what people buy, and workers' skills no longer match the jobs available.
Read the full explanation →Which one of the following indicators is included in the National Multidimensional Poverty Index (MPI)?
It is one of the two education indicators in NITI Aayog's National Multidimensional Poverty Index. The national MPI measures deprivation, not income, across three equally weighted dimensions: health, education and standard of living.
Read the full explanation →Consider the following statements regarding poverty in India :
1. While determining poverty line in India, a minimum level of food requirement, clothing, footwear, fuel and light, educational and medical requirements, etc. are determined for subsistence.
2. The accepted average calorie requirement in India is 2400 calories per person per day in rural areas and 2100 calories per person per day in urban areas.
Which of the statements given above is/are correct ?
Both statements describe the standard method used to draw India's poverty line. A poverty line is the income or spending needed to meet basic needs.
Read the full explanation →The sustained decrease in the general price level is called as
Deflation is the opposite of inflation: the general price level keeps falling over a period of time. When prices fall steadily, the purchasing power of money rises, but the effect on the economy is usually harmful.
Read the full explanation →Which one of the following is a measure that can be used by the Government for combatting inflation?
Higher interest on deposits encourages people to save rather than spend, which pulls money out of circulation and cools demand.
Read the full explanation →SDG India Index, developed by NITI Aayog, includes 17 SDGs for each State. Which one of the following is not included in that index ?
There is no Sustainable Development Goal by that name; employment comes under Goal 8, Decent Work and Economic Growth, and Goal 10 is Reduced Inequalities.
Read the full explanation →What would be the impact on the economy if people start holding more currency in hand and less in deposits ?
Banks can create credit only from money deposited with them, so when people keep more cash at home, less is lent and re-lent, and the multiplier falls.
Read the full explanation →Which one of the following expenditures is subtracted from Fiscal Deficit to arrive at Primary Deficit ?
Primary deficit is fiscal deficit minus interest payments, so it shows the borrowing a government needs for its current needs alone.
Read the full explanation →Which of the following concepts are considered as pillars of Human Development ? 1. Equity 2. Sustainability 3. Productivity 4. Security Select the correct answer using the code given below:
The idea of human development, put forward by Mahbub ul Haq and Amartya Sen, rests on four pillars: equity, sustainability, productivity and empowerment.
Read the full explanation →Consider the following statements : The 'Stability and Growth Pact' of the European Union is a treaty that 1. limits the levels of the budgetary deficit of the countries of the European Union 2. makes the countries of the European Union to share their infrastructure facilities 3. enables the countries of the European Union to share their technologies How many of the above statements are correct?
Only statement 1 is correct. The Stability and Growth Pact, agreed in 1997, is the European Union's set of fiscal rules meant to keep public finances sound so that a shared currency is not weakened by one member's overspending.
Read the full explanation →Consider the following statements : Statement-I : Switzerland is one of the leading exporters of gold in terms of value. Statement-II : Switzerland has the second largest gold reserves in the world. Which one of the following is correct in respect of the above statements?
Switzerland is one of the world's biggest gold exporters by value, but it does not hold the second largest official gold reserves.
Read the full explanation →Consider the following statements about the Public Distribution System : 1. The Public Distribution System is operated under the joint responsibility of Centre and State/Union Territories. 2. Food Corporation of India has assumed the responsibility for procurement, storage and transportation of food grains to the State Governments. 3. Both Centre and State have the joint responsibility to identify eligible beneficiaries. 4. Some States also distribute additional items of mass consumption through the PDS outlets such as pulses, edible oil, etc. Which of the statements given above are correct?
The Public Distribution System is run jointly by the Centre and the States and Union Territories, so statement 1 is correct.
Read the full explanation →Consider the following statements : 1. The Self-Help Group (SHG) programme was originally initiated by the State Bank of India by providing microcredit to the financially deprived. 2. In an SHG, all members of a group take responsibility for a loan that an individual member takes. 3. The Regional Rural Banks and Scheduled Commercial Banks support SHGs. How many of the above statements are correct?
Statements 2 and 3 are correct; statement 1 is not. The SHG movement in banking was started by NABARD, not the State Bank of India.
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