Indian Economy - Quiz Questions and Answers

Indian Economy Quiz 
1. Which of the following has become the first Regional Rural Bank to issue a debit card in the country?
(A) Punjab Gramin Bank (B) Punjab National Bank
(C) Kashi Gomti Samyut Gramin Bank (D) Ahmedabad RRB
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2. Which of the following statements is/are correct?
1. Maharashtra ranks first in the length of roadways among various States of the country.
2. National Highways comprise only about 2 percent of the total length of roads and carry about 40 percent of the total traffic.
(A) 1 only (B) 2 only
(C) Both 1 and 2 (D) Neither 1 nor 2
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3. With reference to Finance Commission which of the following statements is/are correct?
1. The recommendations of 13th Finance Commission are applicable between the period 2010-15.
2. Formation of 13th. Finance Commission was delayed due to presidential election.
(A) 1 only (B) 2 only
(C) Both 1 and 2 (D) Neither 1 nor 2
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4. National Social Security Fund has been created in order to–
(A) fund workers of unorganised sector including weavers, rickshaw pullers, bidi makers, etc.
(B) finance workers of organised sector.
(C) help create self employment opportunities for unemployed youth.
(D) to finance self help groups.
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5. Consider the following statements–
1. Raising the repo rate will control inflation and rein in inflationary expectation.
2. Monetary policy operates largely through demand compression in the short run.
3. Manufacturing sector has emerged as the key driver of growth in the Indian economy.
Which of the above statements is/are correct?
(A) 1 and 3 (B) 1 and 2
(C) 2 and 3 (D) All of these
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6. Which of the following is/are the major contributory factor(s) to high inflation related to current Indian economic scenario?
(A) Higher primary articles prices such as vegetables, eggs, meat and fish.
(B) High global commodity prices such as metal and chemical prices.
(C) High international crude and petroleum prices.
(D) All of these
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7. Which of following statements stand/s correct on the account of sharp depreciation of ‘Rupee’?
1. Decrease in foreign institutional investor inflows.
2. Withdrawal of investment by foreign investors because of the economic meltdown in Europe and inflation in emerging market economy.
(A) 1 only (B) 2 only
(C) Both 1 and 2 (D) Neither 1 nor 2
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8. With reference to India’s external debt profile which of the following statements is/are correct?
(A) There is an overwhelming dominance of long-term borrowings over short-term debt
(B) External debt to GDP ratio shows that India’s external debt is within the manageable limits,
(C) Raising sovereign loans on concessional terms with long-term maturities has been given priority,
(D) All of these
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9. Which of the following does not include monetary policy instruments?
(A) Repo rate (B) Cash reserve ratio
(C) Open market operations (D) Foreign direct investment
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10. Which of the following is concerned with inequality in distribution of family income?
(A) Gini Multiplier (B) Gini Index
(C) Lorenz Curve (D) Laffer Curve
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11. The thrust of National Rural Health Mission (NRHM) is on–
(A) establishing a fully functional, community-owned decentralised health delivery system.
(B) providing accessible, affordable and accountable quality health services to all.
(C) functional health system at the district level.
(D) institutional integration with the fragmented health sector.
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12. Consider the following statements with reference to National Rural Livelihood Mission (NRLM)–
1. National Rural Livelihood Mission has been launched with the aim to eliminate poverty in rural areas.
2. Under NRLM, self-help groups will be constituted in the form of federation to provide self-employment opportunities to the rural people.
Which of the above statements is/are correct?
(A) 1 only (B) 2 only
(C) Both 1 and 2 (D) Neither 1 nor 2
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13. Which of the following does not lead to increase in foreign exchange reserves?
1. Devaluation of Rupee.
2. Increased foreign investment.
3. Supply of dollar by Central Bank.
4. Availability of loans from international institutions.
(A) 1 and 2 only (B) 2, 3 and 4
(C) 1, 2 and 4 (D) All of these
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14. Consider the following statements–
1. A flexible external commercial borrowing (ECB) policy was an important reason why India emerged largely unscathed from the global economic crisis.
2. The liberalisation of ECB policy has to keep in view the need to maintain sustainable level of external debt ratios.
Which of the above statements is/are incorrect?
(A) 1 only (B) 2 only
(C) Both 1 and 2 (D) Neither 1 nor 2
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15. Which of the following countries signed a Comprehensive Economic Partnership Agreement (CEPA) with India in 2011?
(A) Japan (B) Malaysia
(C) Canada (D) Australia
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16. Which of the following consists of major water-polluting industries?
1. Fertilisers 2. Refineries 3. Pulp & paper
4. Plastic 5. Thermal
(A) 1, 2 and 3 only (B) 2, 3 and 4
(C) 4 and 5 only (D) All of these
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17. Which of the following emissions are considered as Green House gas emissions under Kyoto Protocol mechanism?
1. Carbon dioxide (CO2) 2. Methane (CH4)
3. Nitrous oxide (N2O) 4. Hydrofluorocarbons (HFCs)
5. Perfluorocarbons (PFCs)
(A) 1, 2 and 3 only (B) 2, 3 and 4 only
(C) 1, 2, 3 and 4 (D) All of these
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18. Consider the following statements–
1. Census 2011 is the 15th census of India since 1872.
2. Census 2011 was conducted in two phases.
Which of these statements is/are correct?
(A) 1 only (B) 2 only
(C) Both 1 and 2 (D) Neither 1 nor 2
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19. Which of the following statements is/are correct?
1. ‘Customs Duty’ revenue earned by the Union Government is not distributed to the States.
2. ‘Commodity Exchanges’ market is independently regulated by Forward Market Commissions.
(A) 1 only (B) 2 only
(C) Both 1 and 2 (D) Neither 1 nor 2
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20. Select the correct statement(s):
1. National Rural Development Institute is situated at Hyderabad.
2. The headquarter of SIDBI is located in Lucknow.
(A) 1 only (B) 2 only
(C) Both 1 and 2 (D) Neither 1 nor 2
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