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100 important Indian Economy Question and Answer

1. By whom was concept of Five Year Plans in India introduced?
– Jawaharlal Nehru
2. What is the mean of ‘Take off stage’ in an economy?
– Steady growth begins
3. What was the decentralization system recommended?
– Balwant Rai Mehta
4. During which Plan did prices show a decline?
– First
5. During which prime minister was the strategy of Rolling plan was adopted?
– Morarji Desai
6. Upon which development the Second Five Year Plan laid mote stress?
– Industrialisation
7. Who was the first Chairman of the Planning Commission?
– Pt. Jawahar Lal Nehru
8. Which is the ‘Slack Season’ in the Indian Economy?
– Jan.-June
9. What is the main objective of Antyodaya programme?
– Uplift the poor
10. In which year Swarn Jayanti Gram Swa-Rozgar Yojna came into being?
– April 1999
11. As per latest data in urban areas women employment is highest in which industry areas?
– Retail Trade
12. Why is Poverty in less developed countries largely?
– Due to income inequality
13. In which year was Minimum inflation in post economic reform?
– 1999-2000
14. What is the situation with increasing unemployment and inflation termed?
– Stagflation
15. Among the remedies of inflation, what can we include?
– Lowering bank rate
16. What is the effect of inflation on tax revenue results in a situation?
– Fiscal drag
17. By which band is Monetary policy regulated?
– Central Bank
18. For international payments, to which currency is the Indian currency linked?
– American Dollar
19. terms of economics, which recession occurring two times with a small gap in between?
– Deep Recession
20. Which first Bank was established in India?
– Bank of Hindustan
21. To which duties is the system of value added taxation applicable?
– Excise duties
22. Which is the largest Public Sector Bank in India?
– State Bank of India
23. Of which purpose was Nationalisation of banks done?
– Consolidating the economy
24. Word Bull and Big are associated with which branch of commercial activity?
– Share Market
25. By which bank are the central banking functions in India performed?
– Reserve Bank of India
26. Of which bills Open market operations of a Central Bank are sale and purchase?
– Trade bills
27. Which provides the largest part of the demand for loanable funds in India?
– Corporate businesses
28. Which Public Sector bank’ emblem figures a dog and the words ‘faithful, friendly’ in it?
– Syndicate Bank
29. Which is the oldest ‘stock exchange of India?
– Bombay Stock Exchange
30. In which year were Private Sector Mutual Funds in India permitted?
– 1993
31. In which terms is the Rate of growth of an economy measured?
– National income
32. What is temporary tax levied to obtain additional revenue?
– Surcharge
33. If the price of an inferior good falls, what about its demand? – Remains constant
34. Which is the regulatory authority for giving clearance for External Commercial borrowing?
35. Which is the most important item of non-plan expenditure?
– Interest payment
36. On which tax is the minimum effect of Direct Taxes?
– Income
37. By whom was the first estimate of national income in India made?
– Dadabhai Naoroji
38. In India, in which was the service tax first introduced?
– 1994
39. Taxation and the government’s expenditure policy are dealt under under which policy?
– Fiscal policy
40. Which is poorest state in India?
– Orissa
41. Why is the Gross National Income always more than Net National Income?
– Direct taxes
42. Which forms the largest share of deficit in Govt. of India budget?
– Fiscal deficit
43. According to the law of demand, what happens when price increases?
– Demand decreases
44. By which income individual’s actual standard of living can be assessed?
– Disposable Personal Income
45. With which Economic growth is usually coupled? – Inflation
46. In India, in which industry are maximum number of workers employed?
– Textile industry
47. Which industry in India was worst affected because of the partition?
– Jute and Cotton
48. Which is the largest (in terms of turnover) Public Sector organisation in India?
– Indian Oil Corporation
49. Which is the most important small-scale industry in India?
– Handloom
50. From which export does India earns maximum foreign exchange?
– Gems and jewellery
51. Which is the biggest Public Sector undertaking in the country?
– Railways
52. How is the difference between visible exports and visible imports defined?
– Balance of trade
53. New exim policy has choosen which town for ‘the pottery export?
– Khurja
54. Which Committee was formed to suggest means for eradicating black money?
– Cheiliah Committee
55. Which authority sanctions foreign exchange for the import of goods?
– Reserve Bank of India
56. What was the earlier name of the WTO?
57. Where is the The headquarter of World Trade Organisation? – Geneva
58. Which State stands first in the length of roads in the country? – Maharashtra
59. Which State produces maximum pulses in the country?
– Madhya Pradesh
60. By whom was the book Wealth of Nations’ written?
– Adam Smith
61. Who is regarded as the founder of the scientific Socialism?
– Karl Marx
62. Which neighbouring country has objections on Indian Baglihar Hydro-electric Project?
– Pakistan
63. Which has the largest livestock population in the world?
– India
64. In which activity percentage share of cooperative sector is the highest?
– Sugar production
65. What is the main source of fund for the National Highway Authority of India?
– Cess
66. Who is called the ‘Father of Economics’ ?
– Adam Smith
67. Economic Planning is a subject of which list?
– Union List
68. In which sector is 70% of working population of India engaged?
– Primary sector
69. In which plan was the growth rate of agricultural production negative?
– Third Plan
70. Unemployment occurs when workers move from one job to another job?
– Frictional unemployment
71. Which groups suffer the most from inflation?
– Creditors
72. What is termed as the period of high inflation and low economic growth?
– Stagflation
73. What is the inflation experienced in the country at present?
– Cost-push inflation
74. When was the decimal system of currency introduced in India?
– 1957
75. Rupee was devalued by what percent in July 1991?
– 20 Percent
76. Which rural bank has been named after a river?
– Varada Grameen Bank
77. When was the Reserve Bank of India taken over by the Government?
– 1948
78. From where does the National Stock Exchange functions?
– Mumbai
79. Which is the oldest Development Financial Institution of India?
80. In India, the bank NABARD does not provide refinance to which bank?
– Export-Import Banks
81. Which is the place where bankers meet and settle their mutual claims and accounts?
– Clearing House
82. A crossed cheque is one, which can be encashed only at which bank?
– State Bank of India.
83. What do Quantitative credit controls not include?
– RBI directives
84. Stock Exchanges play a role in an economy how may itbe termed?
– Useful but need strict regulation
85. How is the tax which is paid by the person on whom the tax is incident?
– Direct tax
86. Which is the ‘basis for determining the national income?
– Production of goods and services
87. During whose viceroyalty was the system of Budget introduced in India?
– Canning
88. Which formulates fiscal policy?
– Finance Ministry
89. From when was the Zero Base Budgeting in India first experimented?
– April, 1987
90. Who is the chairman of 13th Finance Commission?
– Vijay Kelkar
91. In recent years, how have the capital outlays for the defence service?
– Increasing steadily
92. In the short run, a producer,’ how long continues his production?
– Fixed cost
93. Which is the tax that takes away a higher proportion of one’s income as the income rises?
– Progressive tax
94. If saving exceeds investment, how will the national income? – Remain constant
95. Which tax is not levied by the Union Government?
– Profession Tax
96. Which tax is levied by the Union and collected and appropriated by the States?
– Stamp Duties
97. What is the most appropriate measure of a country’s economic growth?
– Per capita real income
98. From which sector is the largest contribution in India’s National Income?
– Tertiary sector
99. What is the investment in public works?
– Capital expenditure
100. Which scheme was intended to tap the black money?
– India Development Bonds
100 important Indian Economy Question and Answer 100 important Indian Economy Question and Answer Reviewed by Gk Corner on July 24, 2019 Rating: 5

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