Indian Economy-Objective GK Questions

Indian Economy-Objective GK Questions

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31. Which one of the following is the correct sequence in the decreasing order of contribution of different sectors to the Gross Domestic Product of India ?
(A) Services–Industry–Agriculture
(B) Services–Agriculture–Industry
(C) Industry–Services–Agriculture
(D) Industry–Agriculture–Services

32. Govt. of India recently introduced some measures/incentives to improve tourism in India. Which of the following is one of these measures ?
(A) Issuance of electronic visa
(B) Free stay for three days in Govt. hotels in four metros for business travellers and frequent flyers
(C) Highly subsidized air travel on metro routes for frequent flyers
(D) Free trip to Agra, Delhi and Jaipur to those coming on educational/study tours
(E) None of these

33. Which of the following agencies recently laid down guidelines for foreign companies who wish to raise money from the Indian capital markets ?
(A) RBI
(B) IRDA
(C) Registrar of Companies
(D) SEBI
(E) None of these

34. Consider the following statements—
1. The repo rate is the rate at which other banks borrow from the Reserve Bank of India.
2. A value of 1 for Gini co-efficient in country implies that there is perfectly equal income for everyone in its population.
Which of the statements given above is/are correct ?
(A) 1 only
(B) 2 only
(C) Both 1 and 2
(D) Neither 1 nor 2

35. How many models of ‘Nano’ car are being made available initially ?
(A) 04
(B) 03
(C) 02
(D) 01

36. Which of the following organizations/agencies has agreed to set up an institute in India to train manpower in commodities ?
(A) World Bank
(B) Asian Development Bank
(C) International Monetary Fund
(D) New York Stock Exchange
(E) None of these

37. More and more banks in India these days are setting up their ATMs and discourage people to visit their branches for transaction which of the following is/are the limitations of the ATMs which force people to go to branch for transactions ?
1. Lack of human interface.
2. Communication gap.
3. Limited cash dispensing ability.
Codes :
(A) Only 1
(B) Only 2
(C) Only 3
(D) Both 1 and 2
(E) 1, 2 and 3 all

38. Tarapore committee was associated with which one of the following ?
(A) Special economic zones
(B) Full capital account convertibility
(C) Foreign exchange reserves
(D) Effect of oil prices on the Indian economy

39. Who among the following served as the chief economist of the International Monetary Fund ?
(A) Ashok Lahiri
(B) Sumantra Ghoshal
(C) Saumitra Chaudhri
(D) Raghuram Rajan

40. The government of India recently cleared Rs. 1,00,000 crore of investment in Special Economic Zones (SEZs). The investment will be helpful in many ways. Which of the following is/are among such benefits ?
1. About 40,000 hectares of the land will be converted into SEZs.
2. About 5,00,000 people will get various types of jobs in those units.
3. Exports of agro products would get an enormous boost as all such SEZ units are to be established for agro exports only.
Codes :
(A) Both 1 and 2
(B) Only 1
(C) Only 2
(D) Only 3
(E) 1, 2 and 3 all

41. As per the status on March 4, 2009, which of the following rate stands lowest ?
(A) Bank Rate
(B) CRR
(C) Repo Rate
(D) Reverse Repo Rate

42. In Central Public Enterprise Survey 2007-08, the highest profit earning central PSU is—
(A) SAIL
(B) BHEL
(C) ONGC
(D) IOC

43. Which of the following is not true about Prime Minister’s Rozgar Yojana (PMRY) ?
1. Youth between the age of 18–35 years are eligible for taking loan under the scheme.
2. The scheme is being implemented throughout the country.
3. In the 11th plan about 16·5 lakh persons are likely to get employment under this scheme.
Codes :
(A) Only 1
(B) Only 2
(C) Both 1 and 3
(D) Only 3
(E) All 1, 2 and 3

44. Participatory Notes (PNs) are associated with which one of the following ?
(A) Consolidated fund of India
(B) Foreign institutional Investors
(C) United Nations Development Programme
(D) Kyoto protocol

45. Which of the following countries has the largest stock of foreign exchange reserves in the world ?
(A) USA
(B) China
(C) Japan
(D) India
(E) None of these

46. Who amongst the following is the first chairman of the newly constituted national statistical commission?
(A) Prof. Suresh D. Tendulkar
(B) Dr. Ashok Lahiri
(C) Dr. Rakesh Mohan
(D) Prof. S. K. Ghosh
(E) None of these

47. Which of the following taxes is exclusively and totally assigned to the state government by the constitution ?
(A) Estate duty
(B) Sales tax
(C) Taxes on Railway fares and frights
(D) Corporation tax

48. In the Interim Union Budget for 2009-10, which one of the following is the largest in amount ?
(A) Plan expenditure
(B) Non-plan expenditure
(C) Revenue expenditure
(D) Capital expenditure

49. The tax on import and export is known as—
(A) Income tax
(B) Trade tax
(C) Custom duty
(D) None of the above

50. The annual growth rate of the Indian Economy at 1999-2000 prices during 2008-09 has been estimated at about—
(A) 7·1 per cent
(B) 8·2 per cent
(C) 7·2 per cent
(D) 6·2 per cent

51. Which one of the following is not an objective of fiscal policy of Indian government ?
(A) Full employment
(B) Price stability
(C) Regulation of inter-state trade
(D) Equitable distribution of wealth and income

52. Hindu rate of growth refers to the rate of growth of—
(A) GDP
(B) Population
(C) Foodgrains
(D) Per capita income

53. As per recommendations of the twelfth finance commission, percentage share of states of the shareable central taxes is—
(A) 28·5
(B) 29·5
(C) 30·5
(D) 32·4

54. In India, national income is estimated by—
(A) Planning Commission
(B) Central Statistical Organisation
(C) Indian Statistical Institute
(D) National Sample Survey Organisation

55. Bharat Nirman Scheme of the UPA government does not include—
(A) Rural water supply project
(B) Irrigation benefit programme
(C) Rural electrification
(D) Sarva shiksha abhiyan

56. Which one of the following committees recommended the abolition of reservation of items for the small scale sector in industry ?
(A) Abid Hussain Committee
(B) Narasimhan Committee
(C) Nayak Committee
(D) Rakesh Mohan Committee

57. In the last one decade which one among the following sectors has attracted the highest foreign direct investment inflows into India ?
(A) Chemicals other than fertilisers
(B) Services sector
(C) Food processing
(D) Telecommunication

58. Who formulates the monetary policy in India ?
(A) SEBI
(B) RBI
(C) Finance Ministry
(D) Planning Commission

59. Consider the following statements and select the correct answer using the code given below :
Assertion (A)—Educated unemployment increases with high rate of economic growth.
Reason (R)—It happens only when there is lack of professional education.
Codes :
(A) Both (A) and (R) are correct and (R) is the correct explanation of (A)
(B) Both (A) and (R) are correct but (R) is not the correct explanation of (A)
(C) (A) is true but (R) is false
(D) (A) is false but (R) is true

60. Till October 2008, which of the following companies is not included amongst the “Navratan” ?
(A) BHEL
(B) HCL
(C) BPCL
(D) ONGC

Answers :
31. (A) 32. (A) 33. (D) 34. (C) 35. (B) 36. (D) 37. (C) 38. (B) 39. (D) 40. (C)
41. (E) There are six core as identified under the Bharat Nirman Programme, these are the following—Irrigation, Rural connectivity, Rural housing, Drinking water supply, Rural electrification and Rural telephone connectivity.
42. (C) Basel-II is an accord having three pillars— Minimum capital requirements, supervisory review and market discipline.
43. (D) 44. (B) 45. (B) 46. (A) 47. (B)
48. (C) In the Interim Union Budget 2009-10, the following provisions have been made :
Rs. 8,48,085 crore–Total Revenue Expenditure
Rs. 2,85,149 crore–Plan Expenditure
Rs. 6,68,082 crore–Non-plan Expenditure
Rs. 1,05,146 crore–Total Capital Expenditure
49. (C) 50. (A) 51. (C)
52. (A) The idea of Hindu rate of growth was proposed by professor Rajkrishna. That is related to National income. During the initial three decades, from 1951 to 1980, the growth rate of Indian Economy had been between 3 to 4 per cent and it was termed as Hindu rate of growth.
53. (C) The 12th Finance Commission has recommended to fix 30·5% share for states in the net receipts of shareable central taxes, considering additional production tax in place of sales tax.
54. (B) 55. (D) 56. (A) 57. (D) 58. (B) 59. (A) 60. (B)