Que1. Who presents the Union Budget in India?
a. Finance Minister
b. Prime minister
c. Cabinet seceretary
d. President of India
Finance minister; LokSabha
the union budget is presented by acting Finance Minister.Union Budget for 2017-2018 by Arun Jaitley on 1 Feb 2017Union Budget for 2018-2019 by Arun Jaitely on 1 Feb 2018
Que2. Who among thefollowing presented UnionBudget maximum no. of times?
a. P. Chidambaram
b. RKShanmukhamChetty
c. PranavMukherjee
d. Morarji Desai
Morarji desai
Morarji desai has presented the union budget 10 times. after him comes pranab mukherjee who presented it 7 times.
Que3. Who presented the first budget?
a. ManmohanSingh
b. JawaharlalNehru
c. RKShanmukhamChetty
d. N.D Tiwari
RK Shanmukham Chetty
RK Shanmukham Chetty was the first person to present the Budget. he presnted it on 26th November, 1947.
Que4. Which year is known as “Year of the Great Divide”
a. 1900
b. 1921
c. 2008
d. 2005
1921
1921 is known as “year of the great divide” when mortality rate started to decline in India. the next three decades, the rate of the population grew at the level of 1% per annum.
Que5. What did the British capital invest in?
a. agriculture
b. infrastructure
c. handicraft
d. none of these
infrastructure
the british share in india\’s econmy was 14.4% during 1700-1950. they invested the most in the secondary sector- infrastructure.
Que6. which one of the following is used to denoteboard money?
a. M1
b. M2
c. M3
d. M4
M3
M1= currency with public + deposit with banksM2= Post savingsM3= board money (in economics, board money refers to money supply which is highly liquid.M4= narrow money
Que7. Which is NOT a Subsidary of RBI?
a. National housingbank
b. NABARD
c. BharatiyaReservebank
d. SIDBI
SIDBI
RBI has 4 subsudaries1. DICGC2. National housing banl3. Bharatiya Reserve bank4. NABARD
Que8. Choose a qualitative tool of monetary policy
a. Bank rate
b. credit ceiling
c. credit rationing
d. cash reserve ratio
credit rationing
it is a qualitative tool made by RBI
Que9. Which was the first bank managed by indians only
a. OudhCommercial bank
b. PNB
c. BOI
d. Allahbad bank
PNB
pnb is the first bank managed purely by indians. it was established in lahore in 1885.
Que10. which product is facing importban from china?
a. Milk products
b. Rice
c. Telecom equipment
d. engineering equipements
Milk
nan
Que11. who recommended universal bankingfor india
a. Abid Hussaincommittee
b. RH Khancommittee
c. S Padmanabhancommittee
d. YH Malegamcommittee
RH Khancommittee
RH Khan committee held the view that DFIs should be allowed to become banks at the earliest
Que12. which is the oldest publicsector bank?
a. PNB
b. Imperial bankof india
c. Allahbad bank
d. CBI
allahbad bank
it was established in 1885 and has completed 145 years of service.
Que13. Which agricultural commodity of India gives largest export value?
a. TEA
b. BASMATI RICE
c. SPICE
d. COTTON
BASMATI RICE
nan
Que14. what is the highest amount of NEFT transaction to Nepal?
a. 50,000
b. 100,000
c. 200,000
d. 500,000
50,000
under the cross-border remittance scheme, it is enabled under the NEFT scheme. the scheme was launched to provide a safe and cost-efficient solution.
Que15. Food and Saftey act was enacted in?
a. 2004
b. 2005
c. 2006
d. 2007
2006
it was passed in 2006 but came into force in 2011
Que16. Maximum share of debt of India is?
a. long-term borrowings
b. short-termborrowings
c. Medium-termborrowings
d. ultra-long termborrowings
long-termborrowings
nan
Que17. If you go to the market and purchase an Air conditioner for your factory, the nin economic terminology, you are most probably doing which among the following
a. consumption
b. production
c. asset creation
d. investment
consumption and asset creation are both right answers.but consumption is much more accurate
nan
Que18. Maximum share of which currency is the highest in external debt?
a. US dollar
b. Indian rupee
c. Euro
d. Japanese Yen
US DOLLAR
nan
Que19. Which is the highest authority for indirect tax?
a. CBED
b. CBDT
c. CBEC
d. CBIT
CBECCentral Board of Excise and Customs
nan
Que20. Which among the following is not an indirect tax?
a. Corporation tax
b. service tax
c. custom duty
d. excise duty
Corporation tax
nan
Que21. Which among the following industry generates invisible exports?
a. fishing
b. travel and tourism
c. jewellery
d. handicraft
travel and tourism
nan
Que22. Urban Co-operative banks are governed by?
a. state government
b. RBI
c. BOTHa and b
d. central govt
both a and b
nan
Que23. What is economic growth normally coupled with?
a. inflation
b. hyper inflation
c. deflation
d. stagflation
inflation
nan
Que24. In the banking sector, ADF stands for?
a. Automatic debt function
b. Automaticdatafunction
c. Automateddata flow
d. Additionaldebtfinance
Automated dataflow
nan
Que25. Family planning insurance scheme was launched in?
a. 2004
b. 2005
c. 2006
d. 2007
2005
nan
Que26. Which body is incharge of mutual fund regulation
a. RBI
b. SEBI
c. NABARD
d. AMFI
SEBI
nan
Que27. Who is the largest exporter in marine product for india?
a. USA
b. EU
c. China
d. Japan
EU
nan
Que28. Indian economy is characterised as which economy among the following?
a. Developed Economy
b. Developing Economy
c. Under-developed Economy
d. None of the above
B
nan
Que29. What is the currency of India?
a. Rufya
b. Rupya
c. Paisa
d. INR
D
Also, called as Indian Ruppe and denoted by a hindi letter.
Que30. When was Reserve Bank of India was established?
a. 1890
b. 1935
c. 1947
d. 1940
B
It was established on 1st of April, 1935 with Mumbai as it\’s headquarter.
Que31. When was RBI was nationalised?
a. 1947
b. 1948
c. 1949
d. 1950
C
Following the Independence of India on 15-Aug-1947, the RBI was nationalised on 1st-Jan-1949.
Que32. RBI was established based on recommendation of which of the following?
a. Hilton-Young Commission
b. Ambedkar Commission
c. Finance Commission
d. RBI Act, 1934
A
It was conceptualised based on guidelines of Central Legislative Assembly paased as RBI Act, 1934. RBI was set up based on recommendations of 1926 Royal Commission on Indian Currency and Finance known as Hilton-Young Commission.
Que33. Which sector of Indian economy contributes maximum to the GDP of India?
a. Agriculture
b. Industry
c. Service
d. None of the above
C
Agriculture shares ~15%, industry ~23% and services sector shares maximum ~61% of total GDP of the country.
Que34. Which sector of Indian economy employs the maximum number of labor?
a. Agriculture
b. Industry
c. Service
d. None of the above
A
Agriculture employs ~44%, industry ~25% and services sector ~31% of the total labor force of the economy.
Que35. When was economic liberalisation was started in India?
a. 1947
b. 1971
c. 1991
d. 1997
C
It was initiated in 1991 by the then PM of India Sh. PV Narasimha Rao and his Finance Minister Dr. Manmohan Singh also known as LPG reforms i.e. liberalisation, privatisation and globalization.
Que36. Which among the following operates the world\’s largest oil refining complex of the world?
a. IOCL
b. BP
c. Shell
d. RIL
D
In Jamnagar, Gijarat Reliance Industries Limited operates the world\’s largest refinery complex with one unit under special economic zone and other being normal plus a gasifier unit to burn the residual coke from the two refineries.
Que37. When was State Bank of India was established?
a. 1947
b. 1955
c. 1962
d. 1969
B
With a total of seven banks under it, it was established way back in 1955 with over 24000 branches and is headquartered in Mumbai, Maharashtra.
Que38. When was first time demonetisation happened in India?
a. 1946
b. 1978
c. 2012
d. 1991
A
In 1946 by the then Congress government which banned the currency notes of 1000 and 10000.
Que39. Which schedule of Constitution of India gives power to Central Government to levy tax on any income other than agricultural income in India?
a. Schedule II
b. Schedule VI
c. Schedule VII
d. Schedule IV
C
nan
Que40. Which institution of India is considered as the lender of the last resort?
a. SBI
b. FInance Ministry
c. RBi
d. HDFC Bank
C
Also called as the main bank of India with over $400+ billion reserve it is the lender of the last resort in India.
Que41. Which state in India has the largest share in Indian GDP?
a. Gujarat
b. Maharashtra
c. Tamil Nadu
d. Delhi
B
Maharashtra is leading the list followed by Tamil Nadu, Uttar Pradesh and then Karnatka. Gujarat comes at the 5th position.
Que42. The salary of the Honourable President of India is paid from which fund?
a. Contingency Fund
b. Consolidated Fund
c. Emergency Fund
d. None of the Above
B
nan
Que43. Who was the first Finance Minister of Independent India?
a. Gulzari Lal Nanda
b. Manmohan Singh
c. Jawaharlal Nehru
d. Narasimha Rao
A
nan
Que44. Which among the following is not associated with budget inIndia?
a. outcome budget
b. gender budget
c. Austerity budget
d. Grpss Budgetary
Austerity budget
nan
Que45. India’s first operational special economic zone is located at?
a. Ahamedabad
b. Surat
c. Jaipur
d. Indore
indore
nan
Que46. Competitived evaluation affects which among the following
a. exporter
b. importer
c. trader
d. service provider
exporter
when competitotrs devalue their currencies, the exporters always tend to loose out on the price advantage. the buyer will now buy from them with a cheaper currency
Que47. Some stocks in the market are low priced, speculative and low priced. What are these stocks called?
a. green stock
b. penny stock
c. concentratedstock
d. microcap
penny stock
nan
Que48. A public debt office works as investment banker to the?
a. Public
b. commercial bank
c. RBI
d. Government
government
nan
Que49. what can be measured by calculating concentration ratios
a. development
b. inflation
c. Competiton
d. social security
competition
it is measured by calculating concentration ratios. these ratios indicate whether an industry consists of large firsm or small firms.
Que50. in India, the dollar-rupee exchange rate depends on?
a. government control
b. demand supply
c. RBI’smonetary policy
d. nan
demand and supply
nan
Que51. the income which is generated from tourism can be placed in which option?
a. invisible import
b. invisible export
c. visible import
d. visible export
invisible export
nan
Que52. The purchase of shares and bonds of Indian companies byForeign Institutional Investors is called?
a. FDI
b. Portfolio investment
c. NRI investment
d. Foreign Indirect Investment
Foreign Indirect Investment
nan
Que53. A Maharatna company can invest up to which among the following amounts in a project independently?
a. 1000 CR
b. 5000 CR
c. 10,000 CR
d. 15,000 CR
5000 CR
nan
Que54. Which among the following bank had issued first successful Credit Card of the world?
a. Bank of America
b. standard chartered bank
c. citibank
d. ANZ Grindlaysbank
bank of america
nan
Que55. Who among the following heads the Trade and Economic Relations Committee (TERC) in India?
a. Prime minister
b. minister of commerce
c. finance minister
d. finance secretary
Prime minister
nan
Que56. Which among the following authority appoints a Deputy Governor in Reserve Bank of India?
a. Governor of RBI
b. Central board of directors
c. central government
d. committee of the central board
central government
nan
Que57. In India, which among the following decides the savings bank rate?
a. central government
b. banks themselves
c. RBI
d. Commercial bank
bank themselves
every bank has the permission to themselves fix the rate of interest
Que58. The term Golden Revolution” is most closely related to which of the following missions?
a. National solar mission
b. national horticulture mission
c. national mission on clean coal technologies
d. national bamboo mission
national horticulture mission
nan
Que59. Which among the following was the first Government Company to be privatized in India?
a. hotel corporation of india
b. rashtriya chemical & fertilizers LTD
c. Maruti udyog limited
d. modern food industries limited
Maruti udyog limited
nan
Que60. Which among the following can not be called an anti inflationary measure?
a. Raising the Bank Rates
b. Raising the Reserve Ratio Requirements
c. Purchase of securities in the Open Markets
d. Rationing of the Credit
Purchase of securities in the Open Markets
nan
Que61. Which among the following is the major marine food export item of India ?
a. frozen fish
b. frozen shrimp
c. frozen crab
d. cephalopods
frozen shrimp
nan
Que62. The Tobin tax, initially suggested by James Tobin was a tax on which among the following transactions?
a. Property Transactions
b. Currency Transactions
c. Industrial transactions
d. all of them
currency transactions
nan
Que63. The Government uses which among the following as last resort in deficit financing?
a. external borrowing
b. internal borrowing
c. external grants
d. printing currency
printing currency
nan
Que64. Which among the following state has highest number of Export Oriented Units in India?
a. Tamil Nadu
b. Maharashtra
c. Karnataka
d. Andhra Pradesh
Karanataka
nan
Que65. Which among the following is popularly known as mercantile law of India ?
a. contract law
b. law of torts
c. labour laws
d. property law
contract law
nan
Que66. When there is an inflationary trend in the economy, what would be trend in the pricing of the Bank Products?
a. increasing trend
b. decreasing trend
c. constant trend
d. there is no relevance between the two
increasing trend
nan
Que67. In which among the following types comes the Interest Rate Risk?
a. credit risk
b. market risk
c. operational risk
d. all of them
market risk
nan
Que68. Which of the following might not lead to an increase in the demand for a product that can be stored?
a. A fall in the price of a complement.
b. A rise in consumer incomes
c. An increase in the number of buyers.
d. An expected rise in price.
A rise in consumer incomes
Event b, a rise in consumer incomes might not lead to an increase in demand. Instead, if the product is inferior, there could be a decrease in demand.
Que69. The concept of Goods and Services Tax (GST) is originated in………
a. Canada
b. USA
c. Britain
d. Germany
Canada
The Goods and Services Tax (GST) is a Canadian value-added tax levied on most goods and services sold for domestic consumption. In India this tax is levied to abolish the multiple indirect taxes in the country.
Que70. Which of the following tax will be abolished by the GST?
a. service tax
b. corporation tax
c. income tax
d. wealth tax
service tax
GST will subsume all the indirect taxes applicable in India. Service tax is an indirect tax so it will be abolished throughout India.
Que71. Which of the following tax rate is not applicable under the GST?
a. 5
b. 12
c. 18
d. 25
25
GST will comprise five basic rates: 0 percent, 5 percent, 12 percent, 18 percent and 28 percent.
Que72. What kind of Tax is GST?
a. direct tax
b. indirect tax
c. depends on typeof goods and services
d. none of these
indirect tax
Goods and Services Tax is an indirect tax which will be levied on the goods and services both.
Que73. Who is the head of the GST council?
a. Shahi Kant das
b. Amit mishra
c. Arun Jaitely
d. Hasmukh Adhia
Arun Jaitely
The GST Council aims to develop a harmonised national market of goods and services. The Union Finance Minister Arun Jaitley is the Chairman of the GST council.
Que74. Which constitutional amendment is done to pass the GST bill?
a. 101st
b. 120th
c. 122nd
d. 155th
101st
nan
Que75. Which of the following good will not be covered under the GST bill?
a. cooking gas
b. liquor
c. petrol
d. all of the above
all of the above
Cooking gas, Liquor, Petrol, air fuel, natural gas and diesel are not covered under the GST. State government can impose tax on these goods as per their wish.
Que76. Which of the following “tax” is levied at every stage of production
a. vat
b. income tax
c. custom duty
d. none of these
VAT
VAT is levied on the every stage of production .
Que77. If \’Tata Company\’ imports a product from abroad, then which tax will be levied on it?
a. VAT
b. Custom duty
c. income tax
d. corporation tax
custom duty
Custom duty is imposed on imported and exported goods.
Que78. Which of the following tax is imposed by the Central Government but the state government collects it?
a. VAT
b. Income tax
c. corporation tax
d. stamp duty
stamp duty
The right to impose stamp duty lies with Central Government, but the state government has the right to collect it.
Que79. What kind of tax system is found in India?
a. progressive
b. degressive
c. proportional
d. none of these
degressive
There are three rates of income tax are applicable in India i.e. 5%, 10%, 20% and 30% which is progressive in nature initially but later on it becomes Proportional which is called degressive rate .
Que80. Black revolution is related to the…….
a. fish production
b. coal production
c. crude oil prod
d. mustard prod
crude oil prod
nan
Que81. What percentage of Indian GDP is contributed by the service sector?
a. 25%
b. 60%
c. 53%
d. 49%
60%
nan
Que82. Which of the following industry is known as sun rising industry?
a. diary industry
b. IT
c. Health and clinic
d. none of these
IT
nan
Que83. Since when the service tax is being imposed in India?
a. 1991
b. 1999
c. 1994
d. 2001
1994
nan
Que84. Who does receive largest share of total Indian exports?
a. AMERICA
b. UAE
c. China
d. Britain
America
nan
Que85. Which is the largest city in China?
a. Shanghai
b. Beijing
c. Xi\’an
d. Wuhan
A
nan
Que86. Which refinery of India has highest refining capacity?
a. IOCL, Mathura
b. ESSAR, Jamnagar
c. HPCL, Mumbai
d. RIL, Jamnagar
D
nan
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