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General Knowledge on Indian Economy | GK test on Indian Economy Page 11
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General Knowledge on Indian Economy

(Click on suggested Options to select the answer | Color Red means : Wrong & Green Means: Correct)

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101. In recent years, the capital outlays for the defence service have been
102. Minimum Needs Programme (MNP) and Integrated Rural Development Programme (IRDP) were started during which plan?
103. Which of the following are referred to as the developed economies?
  • A. Countries earning huge industrial profits
  • B. Countries proficient in trade and export
  • C. The advertisement expenditure
  • D. The unit of the commodity
  • Check Answer | Discussion
104. Under which plan did the Government introduce an agricultural strategy which gave rise to Green Revolution?
105. This Plan gave top priority to "Development of Human Resources". It initiated fiscal as well as economic reforms. Pradhan Mantri Rozgar Yojana (PMRY) was initiated during this period . It was a successful plan.
106. Increase in oil pool deficit implies
  • A. government's fiscal deficit goes up
  • B. increasing gap between international and domestic oil prices
  • C. domestic oil price is comparatively more than international price
  • D. None of the above
  • Check Answer | Discussion
107. The National Income of India is estimated mainly through
  • A. production method alone
  • B. expenditure method alone
  • C. production and expenditure methods
  • D. production and income methods
  • Check Answer | Discussion
108. Which one of the following was not stipulated in the Fiscal Responsibility and Budget Management Act, 2003?
  • A. Elimination ofrevenue deficit by the end of the fiscal year 2007-08
  • B. Non- borrowing by the Central Government from Reserve Bank of India except under certain circumstances
  • C. Elimination of primary deficit by the end of the fiscal year2008-09
  • D. Fixing government guarantees in any financial year as a percentage of GDP
  • Check Answer | Discussion
109. High fiscal deficit is cause for concern for any economy.What does it denote?
  • A. It is a measure of the borrowings of an economy.
  • B. It is a total expenditure less total receipts excluding borrowings
  • C. It reflects the decrease in tax collections for the year
  • D. It means the lack of liquidity and earnings for the economy
  • Check Answer | Discussion
110. The existence of a parallel economy/black money
  • A. makes the economy more competitive
  • B. makes the monetary policies less effective
  • C. ensures a better distribution of income and wealth
  • D. ensures increasing productive investment
  • Check Answer | Discussion

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