100 Economy Important Questions
100 Economy Important Questions
Questions on Indian Economy are asked in various examinations like RAS, IAS, IES, IRS and SSC conducted by RPSC, UPSC and other state level PSCs. Here is collection of top 100 Frequently asked Questions from Indian Economy…
1.Which is the oldest stock exchange in the world?
Amsterdam Stock Echange
2.Taxation and the government’s expenditure policy are dealt under under which policy?
Fiscal Policy
3.If the price of an inferior good falls, what about its demand?
Remains Constant
4.Which type of unemployment mostly found in India?
Disguised Unemployment
5.Which is the largest Public Sector Bank in India?
State Bank of India
6.What is the main source of revenue to meet different expenditures?
Internal Borrowings
7.Bouncing of cheques has become an offence. What is the punishment for the same?
6 months imprisonment
8.Who wrote the book ‘Planned Economy for India’?
M. Visvesvaraya
9.Which is the oldest Development Financial Institution of India?
IFCI
10.When was EXIM Bank set-up?
1982
11.Which is the ‘Slack Season’ in the Indian Economy?
January-June
12.To meet the need of whom, the concept of Land Development Bank has been developed?
Farmers
13.When was the Rolling plan designed?
1978-83
14.Which country is the largest debtor of UNO?
U. S.
15.Which was first Commercial Bank of India?
Hindustan Bank
16.Participatory Notes (PNs) are associated with which investors?
Foreign Institutional Investments
17.A new private bank is established under which act?
Companies Act 1956
18.How many country are represented in International Monetary Fund (IMF)?
189
19.In which plan was the objective of self-reliance and zero net foreign aid was declared?
Fourth 5 year plan
20.On which date a Bank publishes its balance sheet ?
31st march
21.How many banks were nationalized in 1969?
14
22.In April 1980 how many banks were nationalized?
Six
23.When was decimal coinage introduced in India?
1957
24.One rupee notes contain the signature of__?
Finance Secretary, GOI
25.Which is treated as artificial currency?
SDR
26.Companies pay corporation tax on their__?
Incomes
27.What was the earlier name of the WTO?
GATT
28.If saving exceeds investment , what will be the effect on national income__?
Remains constant
29.Which bank is the Banker of the Banks?
RBI
30.For international payments, to which currency is the Indian currency linked?
American Dollars
31.Temporary tax levied to obtain additional revenue is called__?
Fee
32.Which European country is the guarantor of Bank of Central African States?
France
33.When was Consumer Protection Act(COPRA) passed?
1986
34.The Money Order system in India was introduced in the year__?
1880
35.Investment in public works is known as__?
Capital Expenditure
36.Where are the headquarters of IMF and World Bank located?
Both Washington DC
37.Who appoints Banking Ombudsman?
RBI
38.In which year was Railway Budget in India separated from general budget?
1924
39.Which is the best measure of economic growth of a country?
GNP
40.Economic growth is usually coupled with__?
Inflation
41. CENVAT is associated with__?
Rate of Indirect Tax
42. Gilt-edged means__?
Market of govt. securities
43. What is the effect of Deficit financing?
Inflation
44. Who was the first Indian Governor of RBI?
Shachindra Ray
45. The principal sources of revenue to the State Government in India is__?
Sales Tax
46. Indias Economic Summit was held in December 1999, in__?
New Delhi
47. The main source of National Income in India is__?
Agricultural Sector
48. A crossed cheque is one, which can be encashed only at which bank?
SBI
49. The currency convertibility concept in its original form originated in?
Bretton Woods Agreement
50. States earn maximum revenue through?
Commercial Taxes
51.Short-term finance is usually for a period ranging up to?
12 months
52.The philosophy of ‘Laissez-faire’ is associated with ?
Industrial States
53. Where in Indian are coins minted ?
Mumbai, Calcutta & Hyderabad
54. In India, in which year was the service tax first introduced?
1994
55. National Rural Employment Guarantee Scheme (NREGS)came into force in which year?
2006
56. When did India become a member of international Monetary Fund (IMF)?
1947
57. Who coined the term ‘Hindu rate of growth’ for Indian Economy ?
Raj Krishna
58. When was the National Bank for Agriculture and Rural Development (NABARD) set up?
1982
59. Where are the headquarters of United Nations Conference on Trade and Development (UNCTAD) ?
Geneva
60. Who is called the ‘Father of Economics’?
Adam Smith
61. Which sector of Indian Economy has shown remarkable expansion during the last decade ?
Tertiary Sector
62. Which state has the lowest per capita income?
Bihar
63. World Development Report is an annual publication of__?
International Bank of Reconstruction & Development
64. The slogan of ‘Garibi Hatao’ (Remove Poverty) was launched in which FYP?
4th FYP
65. ‘Golden Handshake Scheme’ is associated with__?
Voluntary Retirement
66. Who has presented the Union Budget of India maximum number of times?
Morarji Desai
67.Who is the chairman of 14th Finance Commission?
Y. V. Reddy
68. The second Five Year plan was based on_?
Mahalanobis model
69. The first devaluation of Indian currency took place in which year ?
1949
70. VAT has been introduced on the recommendation of which commission?
L. K. Jha Commission
71. In which year was Minimum inflation in post economic reform?
1999-2000
72. Who was the Chairman of the first Finance Commission?
K. C. Niyogi
73. Those goods which have positive relationship between price and quantity demanded are called as ….?
Giffen Goods
74. On July 12, 1982, the ARDC was merged into__?
NABARD
75. Which Indian got Nobel Prize for Economics?
Amartya Sen
76. National Income estimates in India is prepared by __?
Central Statistical Organization
77. National Rural Development Institute is situated at__?
Hyderabad
78. Name the oldest insurance company of India?
Oriental Life Insurance company
79. Excise duty is a tax levied on the__?
Production of goods
80. Which state stands first in the length of roads in the country?
Maharashtra
81. Deficit financing means that the government borrows money from the__?
RBI
82. “Bad money (if not limited in quantity ) drives good money out of circulation.” is the law known as__?
Gresham’s law
83. The “”Garibi Hatao”” slogan was coined in__?
1971
84. When was the Reserve Bank of India taken over by the Government?
1948
85. The difference between GNP & GDP is__?
Capital Depreciation
86.’Brent ‘ Index is associated with __?
Crude oil prices
87. The Foreign Exchange Management Act(FEMA) was passed in which year?
1999
88. Which plan is also known as ‘Gadgil Yojana’?
3rd FYP
89. Who presented the first union budget of Independent India?
RK Shanmukham Chetty
90. Who is considered the guardian of the Public Purse?
CAG
91. In which year Swarn Jayanti Gram Swarozgar Yojna came into being?
1st April 1999
92. Where is the headquarter of East African Development Bank?
Uganda
93. In which year Statutory Liquidity Ratio was first imposed on banks?
1949
94. The Unclaimed deposits are those deposits which haven’t been operated for how many years?
10 years or more
95. When a person has a saving account in the bank , the bank assumes the position of ___?
Debtor
96. Which is the largest Private Sector Bank in India?
HDFC Bank
97. Which ministry formulates fiscal policy?
Finance Ministry
98. In which year SIDBI was established?
1990
99. What is the highest denomination of currency notes in circulation as legal tender in India at present?
₹ 2000
100. Which is the oldest stock exchange in Asia?
Bombay Stock Exchange