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GK QuizIndian Economy

Indian Economy Mixed Quiz: Set 61

  • 20 questions
  • 20 minutes
  • Difficulty: Medium
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About this quiz

Set 61 of the Indian Economy mixed quiz has 20 multiple-choice questions from 10 different topics of the subject: Rural Development and MGNREGA, Intellectual Property Rights: Patents, Trademarks and Copyright, Government Schemes for Women and Children and more. 5 of them were asked in real previous-year papers. A topic quiz checks one chapter; this set revises the whole subject at once, the way an exam paper does, where the next question can come from any chapter. Every question carries an explanation of why the correct option is right and why the others are wrong. Keep to the timer, read the explanations at the end, and go back to the notes of any topic where you slipped.

Questions in this quiz

20 questions with answers and explanations

Q1.Indian EconomyAsked in: CDS · CDS-I 2021, GKMedium

Which of the following statements about the Pradhan Mantri Gram Sadak Yojana are correct?

1. It is part of Government of India's poverty reduction strategy.

2. It is a centrally sponsored scheme for rural development.

3. It provides connectivity in rural areas.

Select the correct answer using the code given below:

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

PMGSY is a centrally sponsored rural development scheme, launched as part of the poverty reduction strategy, to give all-weather road connectivity to unconnected villages.

Q3.Indian EconomyMedium

A Sukanya Samriddhi account can be opened in the name of a girl child before she completes which age?

  1. A.Five years
  2. B.Eight years
  3. C.Ten years
  4. D.Fourteen years
Show answer
Correct answer: C. Ten years

Under the Sukanya Samriddhi Yojana, launched on 22 January 2015, a parent or legal guardian may open the account for a girl at any time before she completes the age of ten years, for a maximum of two girls in one family, and the account matures twenty-one years after it…

Q4.Indian EconomyEasy

The National Statistical Office was formed in 2019 by merging which two organisations?

  1. A.The Central Statistics Office and the National Sample Survey Office
  2. B.The Labour Bureau and the Central Statistics Office
  3. C.The Economic Adviser's Office and the National Sample Survey Office
  4. D.The Registrar General's Office and the Central Statistics Office
Show answer
Correct answer: A. The Central Statistics Office and the National Sample Survey Office

In 2019 the government merged the two bodies into a single National Statistical Office under the Ministry of Statistics and Programme Implementation, so that the preparation of the national accounts and the conduct of the large sample surveys would sit in one office.

Q5.Indian EconomyEasy

National Statistics Day is observed in India on which date?

  1. A.29 February
  2. B.29 June
  3. C.20 October
  4. D.15 September
Show answer
Correct answer: B. 29 June

National Statistics Day has been observed on 29 June every year since 2007 to mark the birth anniversary of Prasanta Chandra Mahalanobis and to create awareness about the use of statistics in planning and policy; a theme is announced each year by the Ministry of Statistics and Programme Implementation.

Q6.Indian EconomyAsked in: UPSC CAPF · CAPF 2025, Paper IMedium

Which among the following regarding the nature of goods and income elasticity are correctly matched? (Nature of Goods : Income Elasticity) 1. Necessity : Between 0 and 1 2. Luxury : More than 1 3. Inferior : More than 0 Select the answer using the code given below.

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

Necessities and luxuries are matched correctly, but an inferior good has a negative income elasticity, not a positive one. Income elasticity of demand is the percentage change in quantity demanded divided by the percentage change in income.

Q7.Indian EconomyAsked in: CDS · CDS-II 2023, GKMedium

As per the Cabinet Resolution of 1st January, 2015, the NITI Aayog consists of : 1. Prime Minister of India 2. Governing Council comprising Chief Ministers of all the States and Lieutenant Governors of Union Territories 3. Rural Development Minister 4. Chief Executive Officer to be appointed by the Prime Minister. Select the correct answer using the code given below:

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

The resolution that created NITI Aayog names the Prime Minister as Chairperson, a Governing Council of Chief Ministers and Lieutenant Governors, and a Chief Executive Officer appointed by the Prime Minister.

Q8.Indian EconomyHard

Since which year has the note issue of the Reserve Bank of India been governed by the Minimum Reserve System?

  1. A.1935
  2. B.1949
  3. C.1956
  4. D.1969
Show answer
Correct answer: C. 1956

An amendment of the Reserve Bank of India Act in 1956 replaced the proportional reserve system with the Minimum Reserve System, under which the Bank must hold assets worth two hundred crore rupees against the note issue, of which gold must be not less than one hundred fifteen crore rupees…

Q10.Indian EconomyEasy

e-NAM, launched in April 2016, is

  1. A.a crop insurance portal
  2. B.an online trading platform linking agricultural markets
  3. C.a soil testing laboratory network
  4. D.a scheme for farm mechanisation
Show answer
Correct answer: B. an online trading platform linking agricultural markets

The electronic National Agriculture Market was launched on 14 April 2016 to connect regulated mandis across the States on a single internet platform, so that a trader sitting anywhere can bid for a lot after it is assayed, which widens the market for the farmer and reduces the hold of…

Q11.Indian EconomyEasy

Who founded the Indian Statistical Institute at Kolkata in 1931 and is called the father of Indian statistics?

  1. A.C. R. Rao
  2. B.P. C. Mahalanobis
  3. C.V. K. R. V. Rao
  4. D.D. R. Gadgil
Show answer
Correct answer: B. P. C. Mahalanobis

Prasanta Chandra Mahalanobis founded the Indian Statistical Institute at Kolkata in 1931, set up the National Sample Survey in 1950, gave statistics the distance measure named after him, pioneered large scale sample surveys and pilot surveys, and prepared the plan frame of the Second Five Year Plan, which placed heavy…

Q12.Indian EconomyEasy

The Insolvency and Bankruptcy Code was enacted in which year?

  1. A.2002
  2. B.2013
  3. C.2016
  4. D.2019
Show answer
Correct answer: C. 2016

The Code was passed in 2016 on the recommendations of the Bankruptcy Law Reforms Committee and replaced a scatter of older laws, among them the Sick Industrial Companies Act and parts of the Companies Act, with a single time-bound process in which control passes from the defaulting promoter to the…

Q13.Indian EconomyMedium

Under the Pradhan Mantri Matru Vandana Yojana, what cash incentive is paid to an eligible woman for her first living child?

  1. A.Two thousand rupees
  2. B.Five thousand rupees
  3. C.Ten thousand rupees
  4. D.Twelve thousand rupees
Show answer
Correct answer: B. Five thousand rupees

The scheme, which began on 1 January 2017 and is run by the Ministry of Women and Child Development, pays this amount in instalments on conditions such as early registration of pregnancy and immunisation of the child, as partial compensation for the wages a woman loses during pregnancy and after…

Q14.Indian EconomyEasy

The no-frills account introduced by the Reserve Bank for financial inclusion is now known by which name?

  1. A.Basic Savings Bank Deposit Account
  2. B.Recurring Deposit Account
  3. C.Current Account
  4. D.Fixed Deposit Account
Show answer
Correct answer: A. Basic Savings Bank Deposit Account

The Reserve Bank asked banks in 2005 to offer a no-frills account with nil or very low minimum balance so that poor households would not be kept out by charges, and in 2012 the product was renamed the Basic Savings Bank Deposit Account, with a free debit card and a…

Q15.Indian EconomyMedium

The Census of India is conducted by an office under which ministry?

  1. A.Ministry of Statistics and Programme Implementation
  2. B.Ministry of Home Affairs
  3. C.Ministry of Health and Family Welfare
  4. D.Ministry of Rural Development
Show answer
Correct answer: B. Ministry of Home Affairs

The census is taken by the Office of the Registrar General and Census Commissioner of India, which works under the Ministry of Home Affairs, under the authority of the Census Act of 1948; the same office maintains the civil registration system of births and deaths.

Q16.Indian EconomyMedium

In the Toll-Operate-Transfer (TOT) model, what exactly is handed over to the private operator?

  1. A.A greenfield expressway that is still under construction
  2. B.An operating national highway stretch that already collects toll
  3. C.A plot of land for building a logistics park
  4. D.A railway line owned by a State government
Show answer
Correct answer: B. An operating national highway stretch that already collects toll

Under TOT the authority bundles completed highway sections that have a proven traffic record and auctions the right to collect toll on them for a long concession, usually thirty years, against a single upfront payment.

Q17.Indian EconomyAsked in: RRB Group D · 8 Sept 2022, Shift 2Hard

The Stree Manoraksha project aimed at extending mental health training to 6000 One Stop Centre functionaries across India was launched by whom in March 2022?

  1. A.Amit Shah
  2. B.Smriti Zubin Irani
  3. C.Dr. Mansukh Mandaviya
  4. D.Narendra Modi
Show answer
Correct answer: B. Smriti Zubin Irani

The project was launched in March 2022 by the Minister of Women and Child Development, who then held that office, in collaboration with the national mental health institute at Bengaluru, to train the staff of One Stop Centres in handling the mental health needs of women affected by violence.

Q20.Indian EconomyMedium

The Periodic Labour Force Survey, which gives India's unemployment rate, is conducted by

  1. A.The Labour Bureau
  2. B.The National Statistical Office
  3. C.NITI Aayog
  4. D.The Reserve Bank of India
Show answer
Correct answer: B. The National Statistical Office

The survey was launched in 2017 in place of the earlier five-yearly employment and unemployment rounds of the National Sample Survey, and it reports the labour force participation rate, the worker population ratio and the unemployment rate on the three activity statuses, namely usual status, current weekly status and current…

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