Indian Economy Questions Practice Question and Answer

Q:

Which among the following formulates fiscal policy? 

1562 0

  • 1
    RBI
    Correct
    Wrong
  • 2
    Finance Ministry
    Correct
    Wrong
  • 3
    SEBI
    Correct
    Wrong
  • 4
    Planning Commission
    Correct
    Wrong
  • Show AnswerHide Answer
  • Workspace

Answer : 1. "RBI "

Q:

FEMA (Foreign Exchange Management Act) was finally implemented in the year_____.

1558 0

  • 1
    1991
    Correct
    Wrong
  • 2
    1997
    Correct
    Wrong
  • 3
    2002
    Correct
    Wrong
  • 4
    2007
    Correct
    Wrong
  • Show AnswerHide Answer
  • Workspace

Answer : 3. "2002"
Explanation :

Foreign Exchange Management Act, 1999 (FEMA) came into force by an act of Parliament. It was enacted on 29 December 1999.

Q:

Due to worldwide great depression, ‘New Deal’ was declared by?

1538 0

  • 1
    Abhraham Lincon
    Correct
    Wrong
  • 2
    Benzamin Frankllin
    Correct
    Wrong
  • 3
    J.F. Kennedy
    Correct
    Wrong
  • 4
    Roozwelt
    Correct
    Wrong
  • Show AnswerHide Answer
  • Workspace

Answer : 4. "Roozwelt"
Explanation :

Explain: -New Deal definition. A group of government programs and policies established under President Franklin D. Roosevelt in the 1930s; the New Deal was designed to improve conditions for persons suffering in the Great Depression.

Q:

Which of the following banks got the top spot among the PSU banks in the digital transactions as per the report published by the Department of Financial Services?

1529 0

  • 1
    State Bank of India
    Correct
    Wrong
  • 2
    Bank of India
    Correct
    Wrong
  • 3
    Punjab National Bank
    Correct
    Wrong
  • 4
    Bank of Baroda
    Correct
    Wrong
  • 5
    IDBI Bank
    Correct
    Wrong
  • Show AnswerHide Answer
  • Workspace

Answer : 3. "Punjab National Bank"
Explanation :

State Bank of India (SBI) and its associate banks and other commercial banks such as Central Bank of India, Bank of India, Punjab National Bank and various regional rural banks are some examples of public sector commercial banks.


Q:

In Economics, buying an asset in one market and simultaneously selling an identical asset in another market at a higher price is termed as ____________.

1498 0

  • 1
    Depreciation
    Correct
    Wrong
  • 2
    Mortgage
    Correct
    Wrong
  • 3
    Devaluation
    Correct
    Wrong
  • 4
    Arbitrage
    Correct
    Wrong
  • Show AnswerHide Answer
  • Workspace

Answer : 4. "Arbitrage"

Q:

Who among the following is associated as a head with the Highlevel Task Force on Public Credit Registry (PCR) formed by the Reserve Bank of India?

1496 0

  • 1
    S Venkitaraman
    Correct
    Wrong
  • 2
    G. Ambegaokar
    Correct
    Wrong
  • 3
    Yeshwant M. Deosthalee
    Correct
    Wrong
  • 4
    R S Gujral
    Correct
    Wrong
  • 5
    S R Rao
    Correct
    Wrong
  • Show AnswerHide Answer
  • Workspace

Answer : 3. "Yeshwant M. Deosthalee"
Explanation :

High Level Task Force Report Summary Public Credit Registry for India. The Reserve Bank of India (RBI) had constituted a High Level Task Force (Chair: Mr. Y. M. Deosthalee) to assess the need and scope of setting up a Public Credit Registry in India.

Q:

The Indian economy can be appropriately described as a: 

1496 0

  • 1
    Traditional economy
    Correct
    Wrong
  • 2
    Mixed economy
    Correct
    Wrong
  • 3
    Capitalist economy
    Correct
    Wrong
  • 4
    Socialist economy
    Correct
    Wrong
  • Show AnswerHide Answer
  • Workspace

Answer : 2. "Mixed economy "

Q:

Who was the first to assess national income in India?

1492 0

  • 1
    Dada Bhai Naoroji
    Correct
    Wrong
  • 2
    R.C.V Rao
    Correct
    Wrong
  • 3
    V.K.R.V Rao
    Correct
    Wrong
  • 4
    D .R. Gadanil
    Correct
    Wrong
  • Show AnswerHide Answer
  • Workspace

Answer : 1. "Dada Bhai Naoroji"

      Report Error

    Please Enter Message
    Error Reported Successfully

      Report Error

    Please Enter Message
    Error Reported Successfully

      Report Error

    Please Enter Message
    Error Reported Successfully

      Report Error

    Please Enter Message
    Error Reported Successfully

      Report Error

    Please Enter Message
    Error Reported Successfully

      Report Error

    Please Enter Message
    Error Reported Successfully

      Report Error

    Please Enter Message
    Error Reported Successfully

      Report Error

    Please Enter Message
    Error Reported Successfully