Important General Knowledge Questions related to Indian Economics


Q. Which of the following is the tax levied by the Central Government?

  All of the above

✅ Correct

  corporation fee

❌ Incorrect

  Custom duty

❌ Incorrect

  Income tax

❌ Incorrect

Q. Who imposes sales tax?

  Central government

❌ Incorrect

  All of the above

❌ Incorrect

  State government

✅ Correct

  Village Panchayat

❌ Incorrect

Q. Which of the following are indirect taxes?

  shore duty

❌ Incorrect

  All of the above

✅ Correct

  Custom duty

❌ Incorrect

  production fee

❌ Incorrect

Q. Which of the following is the tax levied by the state government?

  land revenue tax

❌ Incorrect

  All of the above

✅ Correct

  Road toll

❌ Incorrect

  entertainment tax

❌ Incorrect

Q. What type of tax is VAT?

  Both 'A' and 'B'

❌ Incorrect

  none of the above

❌ Incorrect

  indirect

✅ Correct

  Prima facie

❌ Incorrect

Q. When was VAT implemented in India?

  38442

❌ Incorrect

  38074

❌ Incorrect

  38443

✅ Correct

  38078

❌ Incorrect

Q. VAT was implemented in India on the recommendation of which of the following committees?

  Ale. Of. Jha Committee

✅ Correct

  Rang Rajan Committee

❌ Incorrect

  Kelkar Committee

❌ Incorrect

  Parthasarathy Shome Committee

❌ Incorrect

Q. Which of the following is a direct tax?

  coast tax

❌ Incorrect

  advertising tax

❌ Incorrect

  Corporation tax

✅ Correct

  service tax

❌ Incorrect

Q. The chairman of the 12th Finance Commission is -

  k. C. Pant

❌ Incorrect

  C. Rangarajan

✅ Correct

  N. K.P. Salve

❌ Incorrect

  a. M. Mukherjee

❌ Incorrect

Q. The 12th Finance Commission has recommended what percentage of central taxes for the states?

  0.305

✅ Correct

  0.34

❌ Incorrect

  0.33

❌ Incorrect

  0.325

❌ Incorrect

Q. The first bank operated by Indians with committee dues was -

  Imperial Bank

❌ Incorrect

  reserve Bank

❌ Incorrect

  Punjab National Bank

❌ Incorrect

  Avadh Commercial Bank

✅ Correct

Q. When was the Reserve Bank of India established?

  12875

✅ Correct

  12479

❌ Incorrect

  18289

❌ Incorrect

  17395

❌ Incorrect

Q. Presently the total number of nationalized banks is –

  18

❌ Incorrect

  17

❌ Incorrect

  20

❌ Incorrect

  19

✅ Correct

Q. Currency note press is located at -

  Patna

❌ Incorrect

  Hoshangabad

❌ Incorrect

  Hyderabad

❌ Incorrect

  Nashik

✅ Correct

Q. When was State Bank of India nationalized?

  17899

❌ Incorrect

  18289

❌ Incorrect

  20546

❌ Incorrect

  20271

✅ Correct

Q. The headquarters of the Reserve Bank of India is at -

  Mumbai

✅ Correct

  New Delhi

❌ Incorrect

  Kolkata

❌ Incorrect

  Chennai

❌ Incorrect

Q. When was the Life Insurance Corporation of India established?

  21186

❌ Incorrect

  21125

❌ Incorrect

  20699

✅ Correct

  21610

❌ Incorrect

Q. Which of the following institutions controls the stock market?

  Finance Ministry

❌ Incorrect

  reserve Bank

❌ Incorrect

  U.T.I

❌ Incorrect

  SEBI

✅ Correct

Q. The index of Mumbai Stock Exchange is –

  simex

❌ Incorrect

  nikki

❌ Incorrect

  da jones

❌ Incorrect

  Sensex

✅ Correct

Q. Where is the headquarter of Small Industries Development Bank of India (SIDBI) located?

  in Mumbai

❌ Incorrect

  in Lucknow

✅ Correct

  in Kanpur

❌ Incorrect

  in New Delhi

❌ Incorrect

Q. Narasimham committee is related to –

  Restructuring of Regional Rural Banks

❌ Incorrect

  tax reform

❌ Incorrect

  from national income

❌ Incorrect

  banking reform

✅ Correct

Q. The words "Bull" and "Bear" are related to -

  industrial reform

❌ Incorrect

  banking reform

❌ Incorrect

  from the stock market

✅ Correct

  From small scale industry and cottage industry

❌ Incorrect

Q. How many times has the Indian rupee been devalued since independence?

  5

❌ Incorrect

  2

❌ Incorrect

  4

❌ Incorrect

  3

✅ Correct

Q. The organization providing finance for agriculture and rural development in the country is -

  regional bank

❌ Incorrect

  Land Development Bank

❌ Incorrect

  Cooperative bank

❌ Incorrect

  NABARD

✅ Correct

Q. The first nationalization of banks in India was done on July 19, 1969. How many banks were nationalized during this time?

  18

❌ Incorrect

  11

❌ Incorrect

  14

✅ Correct

  19

❌ Incorrect

Q. The population divide decade in India is considered to be -

  1971–1981

❌ Incorrect

  1951–1961

❌ Incorrect

  1901–1911

❌ Incorrect

  1911–1921

✅ Correct

Q. According to the 2001 census, the total population of India was-

  1.04 billion

❌ Incorrect

  1.6 billion

❌ Incorrect

  1.0 billion

❌ Incorrect

  1.02 billion

✅ Correct

Q. What was the decadal growth rate of population in India between 1991-2001 AD?

  0.2387

❌ Incorrect

  0.2154

✅ Correct

  0.225

❌ Incorrect

  0.2067

❌ Incorrect

Q. According to the 2001 census, the number of males (sex ratio) per 1000 females in India is -

  933

✅ Correct

  931

❌ Incorrect

  935

❌ Incorrect

  none of the above

❌ Incorrect

Q. In which of the following states, the maximum number of Scheduled Tribes reside?

  Madhya Pradesh

✅ Correct

  Chhattisgarh

❌ Incorrect

  Jharkhand

❌ Incorrect

  Odisha

❌ Incorrect

Q. In which state of India female literacy is minimum?

  Sikkim

❌ Incorrect

  Bihar

✅ Correct

  Odisha

❌ Incorrect

  Rajasthan

❌ Incorrect

Q. Which state has the maximum number of poor in India?

  bihar

❌ Incorrect

  Rajasthan

❌ Incorrect

  Uttar Pradesh

✅ Correct

  Odisha

❌ Incorrect

Q. According to the 2001 census, what was the literacy rate of India?

  0.659

❌ Incorrect

  0.6224

❌ Incorrect

  0.648

✅ Correct

  0.632

❌ Incorrect

Q. The Economic Survey in India is officially published by -

  by the Ministry of Finance

✅ Correct

  by planning commission

❌ Incorrect

  by finance commission

❌ Incorrect

  by Karpat

❌ Incorrect

Q. Who finally approves the five year plans of India?

  National Development Council

✅ Correct

  President

❌ Incorrect

  Planning Commission

❌ Incorrect

  Parliament

❌ Incorrect

Q. Which is the largest commercial bank of the country?

  state Bank of India

✅ Correct

  reserve Bank of India

❌ Incorrect

  HDFC Bank

❌ Incorrect

  I.C.I.C.I.

❌ Incorrect

Q. The largest item of expenditure in the current account of the Central Government's budget is -

  subsidy to farmers

❌ Incorrect

  interest payment

✅ Correct

  defense spending

❌ Incorrect

  spending on social services

❌ Incorrect

Q. According to the year 2001, what was the annual growth rate in the population of India?

  0.0224

❌ Incorrect

  0.0195

✅ Correct

  0.0217

❌ Incorrect

  0.012

❌ Incorrect

Q. The central government receives maximum net revenue from –

  from excise duty

✅ Correct

  from agriculture

❌ Incorrect

  toll

❌ Incorrect

  income tax

❌ Incorrect

Q. are included in the Human Development Index.

  life literacy

❌ Incorrect

  per capita income

❌ Incorrect

  All of the above

✅ Correct

  level of education

❌ Incorrect

Q. Mixed economy means-

  coexistence of public and private industries

✅ Correct

  Coexistence of large, small and cottage industries

❌ Incorrect

  Coexistence of urban and rural industries

❌ Incorrect

  Simultaneous growth of industry and agriculture

❌ Incorrect

Q. Primary sectors of the economy include -

  all these

✅ Correct

  agriculture

❌ Incorrect

  Excavation

❌ Incorrect

  Forest

❌ Incorrect

Q. In the economy are included under the second sector -

  all these

✅ Correct

  gas

❌ Incorrect

  iron Steel

❌ Incorrect

  Electricity

❌ Incorrect

Q. The relation of the third sector in the economy is -

  Business

❌ Incorrect

  transportation

❌ Incorrect

  Postal Service

❌ Incorrect

  all these

✅ Correct

Q. Which sector of the economy is called the service sector?

  Second

❌ Incorrect

  quartile

❌ Incorrect

  third

✅ Correct

  primary

❌ Incorrect

Q. Who first estimated the national income in India?

  Dada Bhai Naoroji

✅ Correct

  Arvind Ghosh

❌ Incorrect

  Ramesh Dutt Mazumdar

❌ Incorrect

  Visvesvaraya

❌ Incorrect

Q. Who does the work of calculating national income in India?

  Planning Commission

❌ Incorrect

  Reserve Bank of India

❌ Incorrect

  national statistical organization

❌ Incorrect

  central statistical organization

✅ Correct

Q. The base year for the calculation of national income is -

  1999-2000

✅ Correct

  1970–71

❌ Incorrect

  1993–94

❌ Incorrect

  none of the above may

❌ Incorrect

Q. To whom is the credit of scientific calculation of national income in India?

  P.C. Mahalanobis

❌ Incorrect

  Pro. V.K. R. V. Rao

✅ Correct

  Pro. Dr. Gadgil

❌ Incorrect

  Pro. Dr. Gadgil

❌ Incorrect

Q. What is India Vision-2020?

  Finance Commission's Statement of Assistance to the States by the Center till 2020 AD

❌ Incorrect

  Dr. A. PJ autobiography of abdul kalam

❌ Incorrect

  Vision document prepared by the Planning Commission with the aim of making India a developed nation by 2020 AD

✅ Correct

  none of the above

❌ Incorrect

  Last update :  Tue 28 Jun 2022
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