One Liner Indian Economy GK Questions
1. During which Plan did prices show a decline? – First2. When was the Reserve Bank of India taken over by the Government? – 1948
3. Which is the tax that takes away a higher proportion of one’s income as the income rises? – Progressive Tax
4. Which committee was assigned to recommend reforms in the insurance sector? – Malhotra Committee
5. When was the Rolling plan designed? – 1978-83
6. Rupee was devalued by what percent in July 1991? – 20 Percent
7. Who is the chairman of 14th Finance Commission? – Dr. Y. Venugopal Reddy
8. What is the best means of saving during inflation? – Money
9. The National Housing Bank was set up in India as a wholly-owned subsidiary of which bank? – Reserve Bank of India
10. What is meant by ‘Underwriting’, the term frequently used in financial sector? – Under valuation of the assets.
11. Which Committee was formed to suggest means for eradicating black money? – Cheiliah Committee
12. Which agency has the power to declare any industrial unit as a potentially sick unit? – BIFR
13. Which provides the largest part of the demand for loanable funds in India? – Corporate Businesses
14. From which sector is the largest contribution in India’s National Income? – Tertiary Sector
15. What is the task of the Planning Commission? – Preparation of the plan
16. Which Mahatma Gandhi series of currency notes issued by the RBI has “ecology” depicted on it ? – Rs. 100
17. From when was the Zero Base Budgeting in India first experimented? – April, 1987
18. In India, in which industry are maximum number of workers employed? – Textile Industry
19. In which year was ‘Rajiv Gandhi Grameen Vidyutikaran Yojana’ launched? – 2005
20. What does Inflation imply? – Rise in general price index
21. Stock Exchanges play a role in an economy how may itbe termed? – Useful but need strict regulation
22. Taxation and the government’s expenditure policy are dealt under under which policy? – Fiscal policy
23. What is the Planning Commission? – An Advisory body’
24. Which rural bank has been named after a river? – Varada Grameen Bank
25. What is the sum total of incomes received for the services of labour, land or capital in a country? – National Income
