Indian Economy Online Quiz


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Following quiz provides Multiple Choice Questions (MCQs) related to Indian Economy. You will have to read all the given answers and click over the correct answer. If you are not sure about the answer then you can check the answer using Show Answer button. You can use Next Quiz button to check new set of questions in the quiz.

Questions and Answers

Q 1 - What is the limit of Foreign Direct Investment (FDI) in the sector of “Industrial Parks?”

A - 100%

B - 51%

C - 49%

D - 26%

Answer : A

Explanation

N/A

Q 2 - Consider the following statements:

1. Reserve Bank of India is the highest financial institution.

2. The Reserve Bank of India controls and regulates money transactions in India.

Choose the correct answer from the codes given below:

A - Only 1

B - Only 2

C - Both

D - Neither 1 nor 2

Answer : C

Explanation

The Reserve Bank of India is supreme authority of all monetary and banking activities.

Answer : A

Explanation

The Narasimham Committee was set up in 1991.

Q 4 - The headquarters of Unit Trust of India is located in …

A - New Delhi

B - Mumbai

C - Chennai

D - Kolkata

Answer : B

Explanation

It was instituted in 1964.

Answer : B

Explanation

N/A

Q 6 - What is the limit of Foreign Direct Investment (FDI) in the sector of “Non-Banking Finance Companies (NBFC)?”

A - 100%

B - 74%

C - 49%

D - 20%

Answer : A

Explanation

N/A

Q 7 - In terms of poverty, which among the following states has the maximum poverty?

A - Bihar

B - Odisha

C - Chhattisgarh

D - Jharkhand

Answer : C

Explanation

With merely 39.93%, Chhattisgarh has the maximum poverty followed by Jharkhand and Manipur.

Q 8 - Agriculture sector contributes about ……………. in the total GDP.

A - 28%

B - 24%

C - 14%

D - 18%

Answer : D

Explanation

With about 17.9% of total contribution, agriculture sector is the third largest contributor to Indian GDP.

Q 9 - What is the limit of Foreign Direct Investment (FDI) in the sector of “Defence Manufacturing?”

A - 100%

B - 51%

C - 49%

D - 33%

Answer : C

Explanation

Up to 49%, it is automatic, but above 49% possible through the government approval.

Q 10 - Mirzapur and Kashmir is largely known for …

A - Carpets (rugs)

B - Sarees

C - Prints

D - Prints

Answer : A

Explanation

N/A

Q 11 - Indian Refineries Ltd. is located in …

A - Barauni (Bihar)

B - Noonmati (Assam)

C - Kochi (Kerala)

D - A & B

Answer : D

Explanation

N/A

Q 12 - Consider the following statements:

1. Fiscal system describes the complete structure of government revenue and expenditures as well as the framework within which the respective agencies collect and disburse the funds.

2. Fiscal policy is a technique by which the government regulates its spending levels and tax rates.

Choose the correct answer from the codes given below:

A - Only 1

B - Only 2

C - Both

D - Neither 1 nor 2

Answer : A

Explanation

Fiscal policy influences national policy.

Q 13 - Which among the following has least influence on exchange rate?

A - Goods and Services tax

B - Direct tax

C - Interest rates

D - People’s planning to invest in a big industry

Answer : D

Explanation

N/A

Answer : A

Explanation

Department of Science and Technology has initiated zero based budget in 1983.

Q 15 - What is the limit of Foreign Direct Investment (FDI) in the sector of “White Label ATM Operations?”

A - 100%

B - 74%

C - 49%

D - 20%

Answer : A

Explanation

N/A

Q 16 - Which among the following regions is not a center of shipbuilding?

A - Visakhapatnam

B - Kochi

C - Mumbai

D - Kutch

Answer : D

Explanation

Located in Gujarat, Kutch region is known for salt making.

Q 17 - Digital India scheme, launched by Narendra Modi Government, was implemented in …

A - 2015

B - 2016

C - 2014

D - Will be launched in 2017

Answer : A

Explanation

The scheme is designed to create digital infrastructure in India.

Q 18 - Which among the following regions has no automobile industry?

A - Mumbai

B - Burnpur

C - Chennai

D - Bhadravati

Answer : D

Explanation

Bhadravati is located in Karnataka and it is known for cement.

Answer : A

Explanation

Equilibrium is the point at which supply is equal to demand for a product. This is the hypothetical condition where supply and demand curves intersect.

Q 20 - Consider the following statements:

1. When a single company is the only supplier of a particular commodity in the market, it is known as monopoly.

2. Main feature of monopoly is the stable prices, as there is only one firm and so no competition at all.

Choose the correct answer from the codes given below:

A - Only 1

B - Only 2

C - Both

D - Neither 1 nor 2

Answer : C

Explanation

N/A


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