Indian Economy Practice Question and Answer

Q:

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

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  • 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:

The oldest large industry of India is?

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  • 1
    Cotton textile industry
    Correct
    Wrong
  • 2
    Jute Industry
    Correct
    Wrong
  • 3
    Paper Industry
    Correct
    Wrong
  • 4
    Handicraft Industry
    Correct
    Wrong
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Answer : 1. "Cotton textile industry"

Q:

What is the rank of India in coffee production in the world?

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  • 1
    4th
    Correct
    Wrong
  • 2
    5th
    Correct
    Wrong
  • 3
    6th
    Correct
    Wrong
  • 4
    7th
    Correct
    Wrong
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Answer : 3. "6th"

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:

UNDP prepares–

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  • 1
    Human Development Index
    Correct
    Wrong
  • 2
    Standard of Living Index
    Correct
    Wrong
  • 3
    Index Number of Price Level
    Correct
    Wrong
  • 4
    Physical Quality Index
    Correct
    Wrong
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Answer : 1. "Human Development Index"

Q:

What is the rank of India in the production of sugar in the world?

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  • 1
    2nd
    Correct
    Wrong
  • 2
    3rd
    Correct
    Wrong
  • 3
    4th
    Correct
    Wrong
  • 4
    5th
    Correct
    Wrong
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Answer : 1. "2nd "

Q:

When was the Industrial and Financial Exchange Board established?

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  • 1
    1945
    Correct
    Wrong
  • 2
    1955
    Correct
    Wrong
  • 3
    1992
    Correct
    Wrong
  • 4
    1995
    Correct
    Wrong
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Answer : 3. "1992"

Q:

Which of the following country is not included in the category of top-5 gold holder countries of the world?

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  • 1
    China
    Correct
    Wrong
  • 2
    America
    Correct
    Wrong
  • 3
    Germany
    Correct
    Wrong
  • 4
    Italy
    Correct
    Wrong
  • 5
    None of these
    Correct
    Wrong
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Answer : 1. "China"

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