Indian Economy Objective Questions

1. In which of the following states India’s largest tea is produced ?
(A) Tamil Nadu
(B) Assam
(C) Karnataka
(D) Kerala
Answer: Assam


2. Bilateral trade between India and Europe is expected to touch level of $ …… billion by 2010.
(A) 50
(B) 75
(C) 100
(D) 110
Answer: 100


3. How many members are there in APEC (Asia-Pacific Economic Co-operation) ?
(A) 20
(B) 21
(C) 25
(D) 27
Answer: 21



4. When did we start our First Five Year Plan ?
(A) August 15, 1947
(B) April 1, 1950
(C) April 1, 1951
(D) January 26, 1952
Answer: April 1, 1951


5. Which of the following states in India has produced maximum foodgrains ?
(A) Punjab
(B) Andhra Pradesh
(C) Uttar Pradesh
(D) Haryana
Answer: Uttar Pradesh


6. Who has written the book “My Country My Life” ?
(A) Indira Gandhi
(B) Rajgopalachari
(C) Baljeet Singh
(D) Lal Krishna Advani
Answer: Lal Krishna Advani


7. Who was the Chairman of 13th Finance Commission?
(A) Vijay L. Kelkar
(B) C. Rangrajan
(C) Deepak Pareek
(D) Indira Bhargava
Answer: Vijay L. Kelkar


8. RBI holds……equity in National Housing Bank.
(A) 50%
(B) 60%
(C) 75%
(D) 100%
Answer: 100%


9. The most active and sensitive part of the organised money market is the—
(A) Call money market
(B) Treasury bill market
(C) Commercial bill market
(D) Gilt-edged market
Answer: Call money market


10. Reserve Bank of India, established on 1st April, 1935, was originally constituted as a shareholders, institution with a share capital of—
(A) Rs. 5 crore
(B) Rs. 7 crore
(C) Rs. 9 crore
(D) Rs. 10 crore
Answer: Rs. 5 crore


11. Which one of the following countries has achieved growth rates exceeding 9% for the last two to three decades ?
(A) India
(B) China
(C) USA
(D) None of the above
Answer: China


12. Which of the following is not a Tax ?
(A) MAT
(B) SAT
(C) GST
(D) VAT
Answer: SAT


13. “The Future of India” book is written by—
(A) R. N. Malhotra
(B) Jagdish Mukhi
(C) M. S. Ahluwalia
(D) Bimal Jalan
Answer: Bimal Jalan


14. The National Stock Exchange functions from—
(A) Mumbai
(B) Kolkata
(C) New Delhi
(D) Chennai
Answer: Mumbai


15. For a study of the long-term growth of the economy we use—
(A) Personal Income
(B) Disposable Income
(C) Money GNP
(D) Real GNP
Answer: Real GNP


16. What is the purpose of the India Brand Equity Fund ?
(A) To make ‘Made in India’ a label of quality
(B) To promote in bound tourism
(C) To organise trade fairs
(D) To provide venture capital to IT sector
Answer: To make ‘Made in India’ a label of quality


17. Under the Gadgil-Mukherjee Formula, which criterion gets highest weight ?
(A) Population
(B) Tax Effort and Fiscal Discipline
(C) Income Distance
(D) Area
Answer: Income Distance


18. How much amount has been proposed for defence expenditure in the budget for 2011-12?
(A) Rs. 164000 crore
(B) Rs. 141703 crore
(C) Rs. 157344 crore
(D) Rs. 137344 crore
Answer: Rs. 164000 crore


19. How many additional services have been brought under service tax in the budget for 2011-12 ?
(A) 06
(B) 07
(C) 04
(D) 10
Answer: 04


20. How much custom duty is to be paid on 10 gram of gold as per 2010-11 budget ?
(A) Rs. 100
(B) Rs. 200
(C) Rs. 300
(D) Rs. 500
Answer: Rs. 300


21. ‘Innovation Lab’ has been launched by—
(A) Tata Consultancy Services
(B) Infosys Tech
(C) Reliance Industries
(D) Anil’s Reliance Communications
Answer: Tata Consultancy Services


22. “Development and Climate Change” is the theme of—
(A) Human Development Report 2010
(B) World Development Report 2010
(C) World Development Report 2009
(D) World Development Report 2008
Answer: World Development Report 2010


23. As per the latest WTO report, the biggest exporter country in the world during 2007 was—
(A) Germany
(B) USA
(C) China
(D) Japan
Answer: USA



24. As per the latest WTO report, the biggest importer country in the world during 2007 was—
(A) Germany
(B) USA
(C) China
(D) Japan
Answer: USA


25. The state having the lowest Maternal Mortality Rate is—
(A) Tamil Nadu
(B) Maharashtra
(C) Kerala
(D) Gujarat
Answer: Kerala


26. Which of the following organisation publishes World Investment Report ?
(A) WTO
(B) UNCTAD
(C) IMF
(D) IFC
Answer: UNCTAD


27. The proposed Steel Plant of POSCO (Pohang Steel Company) is to be established in Jagatsinghpur distt. of Orissa. To which country POSCO belongs ?
(A) USA
(B) South Africa
(C) South Korea
(D) China
Answer: South Korea


28. Who is the richest Resident Indian in the latest estimates of Economic Magazine ‘Forbes’ 2010 released in April 2010 ?
(A) Azim Premji
(B) Mukesh Ambani
(C) Anil Ambani
(D) Luxmi Mittal
Answer: Mukesh Ambani


29. When was National Saving Scheme (NSS)-92 abolished ?
(A) Nov. 1999
(B) Nov. 2002
(C) Nov. 1, 2001
(D) Nov. 2003
Answer: Nov. 1, 2001


30. In which nation, the two day summit of Finance Ministers of G-20 nations was held in October 2010 ?
(A) India
(B) China
(C) South Korea
(D) Canada
Answer: South Korea


31. Which is correct for Foreign Trade Policy 2009-14 ?
(A) The benefit of ECGC Plan is extended till 2010
(B) DEPB Scheme extended till May 2012
(C) Export Target has been set for 2010-11 at $ 260 billion
(D) None of the above
Answer: The benefit of ECGC Plan is extended till 2010


32. ‘Micro-finance Bill’ 2007 is concerned with—
(A) Regional Rural Banks
(B) Co-operative Banks
(C) NABARD
(D) All the above
Answer: NABARD


33. Moradabad has retaining its first rank in handicrafts exports. Which city comes at second rank ?
(A) Ludhiana
(B) Tirupur
(C) Panipat
(D) Jodhpur
Answer: Jodhpur


34. According to China’s Xinhua News agency, China earned $ 33•5 billion from tourism during 2006 and acquired……place in earning the highest tourism revenue in the world.
(A) Second
(B) Fourth
(C) Sixth
(D) Tenth
Answer: Sixth


35. Former President Mr. A.P.J. Abdul Kalam gave a call for…… per cent GDP growth rate to uplift Indian population below the poverty line.
(A) 9%
(B) 10%
(C) 11%
(D) 12%
Answer: 10%


36. OPEC (Organisation of Petroleum Exporting Countries) is an organisation of how many countries ?
(A) 13
(B) 12
(C) 11
(D) 10
Answer: 11


37. Which of the following Five Year Plan has achieved its growth targets ?
(A) 8th Plan
(B) 9th Plan
(C) 10th Plan
(D) None of the above
Answer: 8th Plan


38. Capital Output Ratio of a commodity measures—
(A) Its per unit cost of production
(B) The amount of capital inverted per unit of output
(C) The ratio of capital deficiency to quantity of output
(D) The ratio of working capital employed to quantity of output
Answer: The amount of capital inverted per unit of output


39. Name the company which has signed a production sharing contract with the government for exploratory rights to two new land blocks in Tripura and Cavery Basin.
(A) OIL
(B) IOC
(C) GAIL
(D) ONGC
Answer: ONGC


40. As per 2011-12 budget the CENVAT has been fixed at—
(A) 8%
(B) 9%
(C) 10%
(D) 12%
Answer: 10%