Indian Economy Practice Question and Answer

Q:

Inflation in India is measured on which of the following indexes / indicators?

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  • 1
    Gross Domestic Product (GDP)
    Correct
    Wrong
  • 2
    Wholesale Price Index (WPI)
    Correct
    Wrong
  • 3
    Cost of Living Index (CLI)
    Correct
    Wrong
  • 4
    Consumer Price Index (CPI)
    Correct
    Wrong
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Answer : 2. "Wholesale Price Index (WPI)"

Q:

How much of India's population is dependent on agricultural industry?

1205 0

  • 1
    60%
    Correct
    Wrong
  • 2
    70%
    Correct
    Wrong
  • 3
    58.9%
    Correct
    Wrong
  • 4
    Others
    Correct
    Wrong
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Answer : 3. "58.9%"

Q:

The difference between Revenue Receipts plus Non-debt Capital Receipts (NDCR) and total expenditure is called ______.

1203 0

  • 1
    Revenue Deficit
    Correct
    Wrong
  • 2
    Fiscal Deficit
    Correct
    Wrong
  • 3
    Effective Revenue Deficit
    Correct
    Wrong
  • 4
    Primary Deficit
    Correct
    Wrong
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Answer : 2. "Fiscal Deficit"
Explanation :

1. The difference between the sum of revenue receipts and Non-Debt Capital Receipts (NDCR) and total expenditure is called fiscal deficit.

2. Fiscal deficit is an important indicator of the financial position of the government.

3. It shows how much difference there is between the current income and expenditure of the government.

4. Fiscal deficit can be influenced by many factors, including.

- Economic situation: During an economic recession, the government often increases the fiscal deficit to provide stimulus to the economy.

- Political pressure: Governments often run up fiscal deficits to raise funds for social programs.

- Military spending: Governments often run fiscal deficits to increase military spending.

Q:

In which year was The Reserve Bank of India was established?

1202 0

  • 1
    1950
    Correct
    Wrong
  • 2
    1947
    Correct
    Wrong
  • 3
    1935
    Correct
    Wrong
  • 4
    1952
    Correct
    Wrong
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Answer : 3. "1935"

Q:

NIFTY is a price index of which of the following stock market?

1199 0

  • 1
    C.S.E
    Correct
    Wrong
  • 2
    N.S.E
    Correct
    Wrong
  • 3
    D.S.E
    Correct
    Wrong
  • 4
    None of these
    Correct
    Wrong
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Answer : 2. "N.S.E"

Q:

Which of these is an Indian multinational company?

1197 0

  • 1
    Nokia
    Correct
    Wrong
  • 2
    Dabur
    Correct
    Wrong
  • 3
    Samsung
    Correct
    Wrong
  • 4
    None of these
    Correct
    Wrong
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Answer : 2. "Dabur"

Q:

Which of the following region contributes most to India's GDP?

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  • 1
    primary sector
    Correct
    Wrong
  • 2
    Secondary sector
    Correct
    Wrong
  • 3
    Tertiary sector
    Correct
    Wrong
  • 4
    None of these
    Correct
    Wrong
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Answer : 3. "Tertiary sector "

Q:

Which of the following organization provides long term finance to industries?

1188 0

  • 1
    L.I.C
    Correct
    Wrong
  • 2
    G.I.C
    Correct
    Wrong
  • 3
    U.T.I
    Correct
    Wrong
  • 4
    All these
    Correct
    Wrong
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Answer : 4. "All these"

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