Indian Economy Quiz with Answers

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Indian Economy Quiz with Answers

The Indian Economy Quiz with Answers is a captivating test of your knowledge about one of the world's fastest-growing and dynamic economies. This Indian Economy Quiz with Answers blog will challenge your understanding of various economic aspects, from fiscal policies to sectors driving growth in India. Whether you're an economics enthusiast, a student, or just curious about India's economic landscape, this quiz will pique your interest and provide insights into the economic powerhouse that is India. 

Indian Economy Quiz with Answers

In this article Indian Economy Quiz with Answers, I am sharing the latest and most important questions with answers related to Indian Economy, Economics of India under General Knowledge section for upcoming competitive exams. Try to expand your knowledge related to the Indian Economy!

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Indian Economy Quiz with Answers

Q :  

Recently, who has been appointed as Chairman of Digital Payment Committee by RBI?

(A) Abhinav Mishra

(B) Suresh Pratap Singh

(C) Nandan Nilekani

(D) Jaman Rakhila

Correct Answer : C
Explanation :

Panel to suggest measures to strengthen safety of digital payments ecosystem. The Reserve Bank of India (RBI) has appointed Nandan Nilekani, co-founder of Infosys, as the chairman of a five-member high-level committee that will work towards deepening digital payments in India.

Q :  

What is the estimated GDP growth rate of India in FY22 as per IMF's latest World Economic Outlook?

(A) 7%

(B) 9%

(C) 8%

(D) 6.8%

Correct Answer : D
Explanation :

Growth in India is set to decline from 6.8% in 2022 to 6.1% in 2023 before picking up to 6.8% in 2024, with resilient domestic demand despite external headwinds,” said the IMF's World Economic Outlook update.

Q :  

The Redistribution polices geared to reduce economic inequalities include

(A) progressive tax policies

(B) land reforms

(C) rural development policies

(D) All the above

Correct Answer : D
Explanation :

Redistribution policies geared to reduce economic inequalities include progressive tax policies, land reforms, and rural development policies.

Q :  

Which of the following IITs has been ranked first among the Innovative Institutes by the Confederation of Indian Industry?

(A) IIT Roorkee

(B) IIT Kharagpur

(C) IIT Delhi

(D) IIT Kanpur

Correct Answer : A
Explanation :

The correct answer is IIT Roorkee. For the second year in a row, IIT Roorkee has been selected by the prestigious Confederation of Indian Industry (CII) for the Industrial Innovation Awards. IIT Roorkee bagged the first position under the Most Innovative Research Institutions category in 2021.

Q :  

Who has recently become the new chairman of the Apparel Export Promotion Council (AEPC)?

(A) Amish Rana

(B) Venugopal Singh

(C) Kamal Patekar

(D) Narendra Goenka

Correct Answer : D
Explanation :

Narendra Goenka takes over as new Chairman of AEPC (Apparel Export Promotion Council) Founder and Managing Director of Texport Industries Narendra Kumar Goenka takes charge of Apparel Export Promotion Council (AEPC) as its new Chairman.

Q :  

Who has been appointed as the head of the department of RBI for "Fintech"?

(A) Ajay Kumar Choudhary

(B) Deepak Kumar

(C) Ajay Kumar

(D) T Rabi Shankar

Correct Answer : A
Explanation :

The central bank has appointed Ajay Kumar Choudhary, executive director, to head the department.

Q :  

Which Indian-American has been appointed by influential US lawmaker Pete Sessions as the chief economic development and energy infrastructure development advisor to his crypto-tech working group?

(A) Himanshu B Patel

(B) Rahul Sachdeva

(C) Anil Agnihotri

(D) Mohan Patel

Correct Answer : A
Explanation :

Powerful Congressman Pete Sessions has appointed Indian-American Himanshu B Patel as his chief economic development and energy infrastructure advisor for his Crypto Technical Working Group.

Q :  

IIT Hyderabad has launched an AI-based job portal “Swarajability” for people with disabilities with funding support from which bank?

(A) Kotak Mahindra Bank

(B) Punjab National Bank

(C) States Bank of India

(D) Bank of Baroda

Correct Answer : A
Explanation :

IIT-Hyderabad provided expertise for the Artificial Intelligence component. The project is funded by Kotak Mahindra Bank.

Q :  

Which bank has partnered with National Payments Corporation to offer real-time cross-border remittances to India using UPI ID for its Money Transfer Operator (MTO) partners?

(A) Bank of Baroda

(B) IndusInd Bank

(C) State Bank of India

(D) RBL Bank

Correct Answer : B
Explanation :

The association between IndusInd Bank and NPCI will help MTO/Exchange houses to push cross-border payments to beneficiaries using UPI apps which will further enable international partners of the bank to perform real-time remittances to India.

Q :  

Who has been appointed as the new chairman of the Insolvency and Bankruptcy Board of India (IBBI)?

(A) Sudhakar Shukla

(B) Navrang Saini

(C) Mukulita Vijayvargiya

(D) Ravi Mittal

Correct Answer : D
Explanation :

Ravi Mittal, former Secretary Dept of Sports, has been appointed as the Chairman of Insolvency and Bankruptcy Board of India (IBBI). He will serve for a term of 5 years or till he is 65 yrs of age- whichever is early. The Chairman's post at the IBBI fell vacant after M S Sahoo retired on Sept 30, 2021.

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    Rajesh Bhatia

    A Writer, Teacher and GK Expert. I am an M.A. & M.Ed. in English Literature and Political Science. I am highly keen and passionate about reading Indian History. Also, I like to mentor students about how to prepare for a competitive examination. Share your concerns with me by comment box. Also, you can ask anything at

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