Quiz on “UPSC MCQ On Indian Economy – 1 psc questions and answers” giving you an idea about questions asked on Indian Economy in competitive exams.
From where did India introduce cultivation of tobacco/tapioca/ pineapple?
A. South Africa
B. South America
C. North Africa
D. North America
South America
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Que (2):
During which Plan did prices show a decline?
A. Second
B. First
C. Fifth
D. Ninth
First
—
Que (3):
Which is the biggest Public Sector undertaking in the country?
A. Road
B. Railway
C. Air
D. Oil
Oil
IOCL is the biggest public sector undertaking in India.
Que (4):
Which is the tax that takes away a higher proportion of one’s income as the income rises?
A. regressive Tax
B. Progressive Tax
C. Income Tax
D. Property Tax
Progressive Tax
Rate of tax is low for people in lower income group and higher for people in higher income slab.
Que (5):
Which bank is the Banker of the Banks?
A. RBI
B. SEBI
C. BOI
D. Ministry of Finance
RBI
It’s the central bank of India whose main functions includes regulating the entire banking system of India as well as controlling the issue and supply of Indian rupee.
Que (6):
Which port especially developed for exporting iron ore to Japan?
A. Kandla Port
B. Paradeep
C. Port Blair
D. Mormugao Port
Paradeep
Paradip is one of India’s busiest iron ore export ports, shipping iron ore fines and pellet from mines in the key-producing states of Odisha and Chhattisgarh. The port will have a loading rate of 100,000 t/d, which may reduce berthing delays.
Que (7):
The Ruhr-Westphalia region is a famous industrial region of which country?
A. Germany
B. Australia
C. Italy
D. London
Germany
The Ruhr, also referred to as Ruhr district, Ruhr region, Ruhr area or Ruhr valley, is a polycentric urban area in North Rhine-Westphalia, Germany. With a population density of 2,800/km² and a population of over 5 million, it is the largest urban area in Germany and the second largest in the European
Que (8):
During which Plan did prices show a decline?
A. first
B. second
C. fourth
D. sixth
First
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Que (9):
Which country is the largest producer of Bauxite?
A. Australia
B. India
C. Bangladesh
D. China
Australia
Australia is the world’s leading producer of bauxite, an aluminium ore that is used as the primary source of the metal.
Que (10):
When was the Rolling plan designed?
A. 1978-88
B. 1978-79
C. 1978-83
D. 1978-90
1978-83
Rolling Plans. The Janta Government terminated the fifth five year plan in 1977-78 and launched its own sixth five year plan for period 1978-83 and called it a Rolling Plan.
Que (11):
When was the Reserve Bank of India taken over by the Government?
A. 1950
B. 1961
C. 1966
D. 1948
1948
After the Partition of India in August 1947, the bank served as the central bank for Pakistan until June 1948 when the State Bank of Pakistan commenced operations. Though set up as a shareholders’ bank, the RBI has been fully owned by the Government of India since its nationalisation in 1949.
Que (12):
What is the mean of Invisible Export?
A. Import services
B. Export services
C. Luxury Import
D. Intermediate export
Export Services
Any export that does not have a tangible physical presence (e.g. expertise, insurance underwriting). Although physical imports exceeded exports, when invisible exports were accounted for the balance of payments was healthy.
Que (13):
Why does the Issue Department of the RBI maintain a against printing of note?
A. nan
B. nan
C. nan
D. nan
Minimum Reserve System
Minimum Reserve System refers to the reserves kept by the Central Bank (RBI) against its currency liability. Currency issued by RBI is its liability as RBI will have to pay to the currency holder the amount as promised in the currency note. Therefore RBI keeps certain reserves against this liability.
Que (14):
Rupee was devalued by what percent in July 1991?
A. 21 Percent
B. 19 Percent
C. 34 Percent
D. 20 Percent
19 Percent
In July of 1991 the Indian government devalued the rupee by between 18 and 19 percent. The government also changed its trade policy from its highly restrictive form to a system of freely tradable EXIM scrips which allowed exporters to import 30% of the value of their exports
Que (15):
From when was the Zero Base Budgeting in India first experimented?
A. 32599
B. -8673
C. 31868
D. 23833
31868
In India, the principle of ZBB was initiated in the Department of Science and Technology in 1983. In 1986, the Indian government adopted ZBB as a technique for determining expenditure budget. … In seventh five-year plan, the ZBB system was promoted.
Que (16):
Who is the chairman of 13th Finance Commission?
A. N.K Singh
B. Vijay Kelkar
C. K.C Neogy
D. none of these
Vijay Kelkar
Vijay L. Kelkar is an Indian economist and academic, who is currently the Chairman of the Forum of Federations, Ottawa & India Development Foundation, New Delhi and Chairman of Janwani – a social initiative of the Mahratta Chamber of Commerce, Industries and Agriculture in Pune
Que (17):
Which city is known as the ‘Manchester of South India’?
A. Chennai
B. Coimbatore
C. Trichy
D. Madhurai
Coimbatore
Coimbatore is called the “Manchester of South India” due to its extensive textile industry, fed by the surrounding cotton fields.
Que (18):
What is an essential attribute of inflation?
A. increase in prices
B. decrease in prices
C. increase in cas economy
D. decrease in cash economy
Increase in prices
Persistent rise in prices. The first characteristic feature of inflation is the persistent rise in prices.
Que (19):
Which city is known for silk wearing industry?
A. Kanchepuram
B. Tiruvanandapuram
C. Trichy
D. Madhurai
Kanchepuram
In India, about 97% of the raw mulberry silk is produced in the five Indian states of Karnataka, Andhra Pradesh, Tamil Nadu, West Bengal and Jammu and Kashmir. Mysore and North Bangalore, the upcoming site of a US$20 million “Silk City”, contribute to a majority of silk production.
Que (20):
What is the best means of saving during inflation?
A. Money
B. Industries
C. Westernization
D. Globalization
Money
The primary way to beat the effect of inflation is to invest your savings for a better return than you can get in money market accounts or savings accounts.
Que (21):
Which is the oldest ‘stock exchange of India?
A. National Stock Exchange
B. Bombay Stock Exchange
C. Madras Stock Exchange
D. Calcutta Stock Exchange
Bombay Stock Exchange
Bombay Stock Exchange. The BSE, formerly the Bombay Stock Exchange, is a publicly traded stock and derivatives exchange and the oldest stock exchange in India.
Que (22):
The National Housing Bank was set up in India as a wholly-owned subsidiary of which bank?
A. State bank of India
B. Central Bank of India
C. Reserve bank of India
D. Punjab Maharashtra Bank
Reserve Bank of India
National Housing Bank, a wholly-owned subsidiary of Reserve Bank of India, was set up on 9 July 1988 under the National Housing Bank Act, 1987.
Que (23):
Where is the largest automobile manufacturing centre in the world located?
A. Japan
B. Korea
C. Beijeing
D. Detroit
Detroit
In the automotive industry, the term Big Three refers to a country’s three largest automobile … In the North American market, the Detroit automakers retained the top three spots,
Que (24):
Which is the chief industry of Afghanistan?
A. Sheep farming
B. Tobacco
C. Castor beans
D. Carpet making
Carpet making
The chief industry of Afghanistan is Carpet making. Carpet making is the most important handicraft industry, but it has suffered with the flight of rug makers
Que (25):
Which situation makes a firm most efficient?
A. Inflation
B. Cost advantage
C. Lowest average costs
D. On the budget line
Lowest average costs
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