50 Economy GK Questions About Competitive exams.
1. Who among the following is associated with 'White revolution'?
(A) P.J. Kurien
(B) Verghese Kurien
(C) M.S. Swaminathan
(D) M.S. Raghanathan
Answer: (B) Verghese Kurien
2. White revolution is related to?
(A) Egg production
(B) Milk production
(C) Wheat production
(D) Fish production
Answer:- (B) Milk production
3. 'Operation Flood' is associated with?
(A) Flood control
(B) Irrigation Project
(C) Storage of food grains
(D) Milk production and distribution
Answer:- (D) Milk production and distribution
4. Green Revolution is related to?
(A) Millet production
(B) Pulse production
(C) Wheat production
(D) Oil seed production
Answer:- (C) Wheat production
5. Indian Green Revolution started from?
(A) Pantnagar
(B) Bangalore
(C) Kanpur
(D) Delhi
Answer:- (A) Pantnagar
6. Actively associated with Green Revolution?
(A) Dr. Swaminathan
(B) Dr. Kurien
(C) C. Subramaniam
(D) Dr. Abdul Kalam
Answer:- (A) Dr. Swaminathan
7. Green revolution had the greatest impact on?
(A) Rice
(B) Maize
(C) Barley
(D) Wheat
Answer:- (D) Wheat
8. Yellow revolution is related to the production of which of the following?
(A) Food grains
(B) Fish
(C) Oil seeds
(D) Milk
Answer:- (C) Oil seeds
9. 'Super Rice' was developed by?
(A) M.S. Swaminathan
(B) G.S. Khush
(C) N.E. Borlaug
(D) P.K. Gupta
Answer:- (B) G.S. Khush
10. Which one of the following is the primary sector of India's economy?
(A) Agriculture
(B) Industry
(C) Cooperative
(D) None of these
Answer:- (A) Agriculture
11. India disguised unemployment is found in -?
(A) Agricultural Sector
(B) Industrial Sector
(C) Service Sector
(D) Trade Sector
Answer:- (A) Agricultural Sector
12. Which of the following is included in National Food Security Mission (NFSM)?
(A) Wheat
(B) Pulses
(C) Rice
(D) All of the above
Answer:- (D) All of the above
13. Among the following, which one is related to Blue Revolution in India?
(A) Floriculture
(B) Sericulture
(C) Pisciculture
(D) Horticulture
Answer:- (C) Pisciculture
14. NAFED is connected with?
(A) Animal husbandary
(B) Conservation of fuel
(C) Agricultural marketing
(D) Agricultural implements
Answer:- (C) Agricultural marketing
15. Public Distribution System is aimed at ?
(A) providing food security to the poor
(B) to prevent hoarding and black marketing
(C) to prevent overcharging by traders
(D) All of the above
Answer:- (D) All of the above
16. Small Scale and Cottage Industries are important because?
(A) they provide more employment
(B) Government helps them
(C) they are traditional
(D) management is easy
Answer:- (A) they provide more employment
17. The Meera Seth Committee was concerned with?
(A) development of handlooms
(B) gender bias in employment
(C) the abolition of the child labour
(D) the welfare of the working women
Answer:- (A) development of handlooms
18. Which one of the following is not the problem of Small Scale Industries (SSIS)?
(A) Finances
(B) Marketing
(C) Raw material
(D) Strikes and lockouts
Answer:- (D) Strikes and lockouts
19. The Concept of 'Navratna' is associated with ?
(A) selected categories of technical manpower
(B) selected export - oriented units
(C) selected food - processing industries
(D) selected Public Sector Enterprises
Answer:- (D) selected Public Sector Enterprises
20. In relation to Agricultural Finance and Refinance which institution is the biggest?
(A) Regional Rural Bank
(B) NABARD Institution
(C) Central Cooperative Bank
(D) Land Development Bank
Answer:- (B) NABARD Institution
21. Long-term agricultural credit is provided by?
(A) Primary Cooperative Society
(B) District Cooperative Bank
(C) Land Development Bank
(D) State Cooperative Bank
Answer:- (C) Land Development Bank
22. National Agricultural Insurance Scheme was launched in the year?
(A) 1995-96
(B) 1998-99
(C) 1999-2000
(D) 2001-02
Answer:- (C) 1999-2000
23. Which of the following agencies is not engaged in exporting agricultural goods from India?
(A) NAFED
(B) State Trading Corporation
(C) IFFCO
(D) MMTC
Answer:- (D) MMTC
24. Among the Indian States, Uttar Pradesh is the largest producer of which of the following crops?
(A) Wheat, Potato, Groundnut
(B) Wheat, Potato, Sugarcane
(C) Potato, Sugarcane, Cotton
(D) Potato, Sugarcane, Paddy
Answer:- (B) Wheat, Potato, Sugarcane
25. In India, inflation is measured by the ?
(A) Wholesale Price Index number
(B) Consumers Price Index
(C) Producer Price Index
(D) National Income deflation
Answer:- (B) Consumers Price Index
26. Economic growth is usually coupled with?
(A) Deflation
(B) Inflation
(C) Stagflation
(D) Hyper-inflation
Answer:- (B) Inflation
27. Inflation rate based on consumer price index increases if?
(A) Bank rate is decreased
(B) Reverse repo rate is decreased
(C) Statutory Liquidity ration is increased
(D) Repo rate is increased
Answer:- (A) Bank rate is decreased
28. Inflation is best described as?
(A) high prices
(B) increase in price index
(C) increase in purchasing power
(D) increase in price of particular goods
Answer:- (D) increase in price of particular goods
29. The most common measure of estimating inflation in India is ?
(A) Price Index
(B) Wholesale Price Index
(C) Consumer Price Index
(D) Price Index of Index Goods
Answer:- (C) Consumer Price Index
30. Index 'Residex' is associated with?
(A) Share Prices
(B) Mutual Fund Prices
(C) Price Index
(D) Land Prices
Answer:- (D) Land Prices
31. Economic Survey in India is published officially, every year by the ?
(A) Reserve Bank of India
(B) Planning Commission of India
(C) Ministry of Finance, Government of India
(D) Ministry of Industries, Government of India
Answer:- (C) Ministry of Finance, Government of India
32. Which one of the following forms the largest share of deficit in Govt. of India budget?
(A) Primary deficit
(B) Fiscal deficit
(C) Revenue deficit
(D) Budgetary deficit
Answer:- (B) Fiscal deficit
33. What is the effect of deficit financing on economy?
(A) Reduction in taxes
(B) Increase in wages
(C) Increase in money supply
(D) Decrease in money supply
Answer:- (C) Increase in money supply
34. A larger part of the fiscal deficit in the Union Budgets is filled by?
(A) Tax revenue
(B) Domestic borrowings
(C) Foreign borrowing
(D) Printing paper currency
Answer:- (D) Printing paper currency
35. As compared to revenue deficit, fiscal deficit will always remain?
(A) higher
(B) lower
(C) some
(D) All of the above
Answer:- (A) higher
36. Not included in the revenue account of the union budget?
(A) Interest Receipts
(B) Tax Receipts
(C) Profits and Dividends of Government Department and Public Undertakings
(D) Small saving
Answer:- (D) Small saving
37. Fiscal Policy is concerned with?
(A) the volume of currency that banks should put in the economy
(B) the policy regarding taxation and expenditure
(C) policy for regulating stock
(D) the policy for dealing with IMF
Answer:- (C) policy for regulating stock
38. Which one of the part of fiscal policy?
(A) Production policy
(B) Tax policy
(C) Foreign policy
(D) Interest rate policy
Answer:- (B) Tax policy
39. Which revenue policy is formulated in India?
(A) Planning Commission
(B) Finance Commission
(C) Finance Ministry
(D) Reserve Bank of India
Answer:- (C) Finance Ministry
40. Globalisation does not include?
(A) reduction in import duties
(B) abolition of import licensing
(C) free flow of FDI
(D) disinvestment of Public Sector Equity
Answer:- (D) disinvestment of Public Sector Equity
41. Direct taxes from which tax gives the highest net revenue to the government?
(A) Corporation Tax
(B) Income Tax
(C) Wealth Tax
(D) Gift Tax
Answer:- (A) Corporation Tax
42. Corporation Tax is on?
(A) production of a company
(B) sale of goods
(C) income of a company
(D) stock of goods
Answer:- (C) income of a company
43. Which of the following are the indirect tax?
(A) Sales tax and Income tax
(B) Income tax and Wealth tax
(C) Sales tax and Excise tax
(D) Income tax and Excise tax
Answer:- (C) Sales tax and Excise tax
44. Agricultural Tax is assigned to the State Government by?
(A) The Finance Commission
(B) The National Development Council
(C) The Inter-State Council
(D) The Constitution of India
Answer:- (D) The Constitution of India
45. Which one of the following is correctly matched?
(A) Income Tax - Indirect Tax
(B) Custom Duty - Indirect Tax
(C) Excise Duty - Highest source of tax revenue to the centre
(D) Entertainment Tax - Highest source of tax to revenue states
Answer:- (B) Custom Duty - Indirect Tax
46. The tax on Import and Export is known as?
(A) Income Tax
(B) Trade Tax
(C) Custom Duty
(D) None of the above
Answer:- (C) Custom Duty
47. MODVAT is related to?
(A) Excise Duty
(B) Value Added Tax (VAT)
(C) Wealth Tax
(D) Income Tax
Answer:- (B) Value Added Tax (VAT)
48. Service Tax in India was introduced in the year?
(A) 1994-95
(B) 1996-97
(C) 1998-99
(D) 1991-92
Answer:- (A) 1994-95
49. Find the tax which is direct tax among the following?
(A) House Tax
(B) Service Tax
(C) Entertainment Tax
(D) Value Added Tax
Answer:- (A) House Tax
50. The most important source of revenue for Indian Government is?
(A) Direct Tax
(B) Indirect Tax
(C) Deficit financing
(D) Loans from RBI
Answer:- (A) Direct Tax
