This quiz works best with JavaScript enabled. Home > General Knowledge > Indian Economy > Overview > Indian Economy – Quiz 4 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Indian Economy Quiz 4 (60 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What was the condition of India's foreign trade under British rule A) Net importer of raw materials. B) Net exporter of raw materials. C) Net importer of finished goods. D) Both b and c. Show Answer Correct Answer: D) Both b and c. 2. Difference between the total value of exports and imports is called. A) Balance of Trade. B) Balance of Payment. C) Deficit Balance. D) Surplus Budget. Show Answer Correct Answer: A) Balance of Trade. 3. Directive Planning is pursued under:- A) Capitalist Economy. B) Socialist Economy. C) Mixed Economy. D) None of these. Show Answer Correct Answer: A) Capitalist Economy. 4. In which year the National Rural Health Mission started in India? A) 2002. B) 2004. C) 2005. D) 2003. Show Answer Correct Answer: C) 2005. 5. Which state has the highest literacy rates in India A) Kerala. B) Karnataka. C) Tamil Nadu. D) Andhra Pradesh. Show Answer Correct Answer: A) Kerala. 6. Devaluation of a currency means A) Fixing the value of currency in multilateral consultation with the IMF, the World Bank and major trading partners. B) Fixing the value of the currency in conjunction with the movement in the value of a basket of pre-determined currencies. C) Permitting the currency to seek its worth in the international market. D) Reduction in the value of a currency vis-a-vis major internationally traded currencies. Show Answer Correct Answer: D) Reduction in the value of a currency vis-a-vis major internationally traded currencies. 7. Which country shares the highest percentage of Indian Imports A) UAE. B) CHINA. C) USA. D) BRITAIN. Show Answer Correct Answer: B) CHINA. 8. Full forme of NIT. A) National Indian Technology. B) National Institutes of Tata. C) Nirma Tata. D) National Institutes of Technology. Show Answer Correct Answer: D) National Institutes of Technology. 9. Which of the following is not a means of communication? A) Radio. B) Roads. C) Films. D) Press. Show Answer Correct Answer: B) Roads. 10. MGNREGA 2005 guarantees how many days of employment in a year? A) 90 days. B) 100 days. C) 105 days. D) 95 days. Show Answer Correct Answer: B) 100 days. 11. New Economic Policy was Introduced in the year A) 1993. B) 1992. C) 1991. D) 1990. Show Answer Correct Answer: C) 1991. 12. Which sector provides basic services A) Tertiary. B) Secondary. C) Primary. D) None of above. Show Answer Correct Answer: A) Tertiary. 13. Where is the headquarter of the SEBI? A) Mumbai. B) Bengaluru. C) Chennai. D) Delhi. Show Answer Correct Answer: A) Mumbai. 14. In MRTP, P stand for ..... A) Practice. B) Practical. C) Policy. D) Political. Show Answer Correct Answer: A) Practice. 15. Who determines the eligibility of members of the Finance Commission? A) Parliament. B) Law Minister. C) President. D) Prime Minister. Show Answer Correct Answer: A) Parliament. 16. TRYSEM" a Programme made for the: A) Providing road connectivity to the villages. B) Employment to Urban youths. C) Employment to Rural youths. D) Development of nutrition intake in the food of poor of the country. Show Answer Correct Answer: C) Employment to Rural youths. 17. What is the nature of India 's First Five Year Plan? A) State Oriented. B) Center Oriented. C) Both (a) and ((b). D) None of these. Show Answer Correct Answer: B) Center Oriented. 18. MGNERGA guarantees jobs to poor for ..... A) 500. B) 50. C) 200. D) 100. Show Answer Correct Answer: D) 100. 19. What was the aim of forming Karve Committee in 1955? A) To improve technology. B) To develop large scale industries. C) To develop small scale industries. D) None of the above. Show Answer Correct Answer: C) To develop small scale industries. 20. GDP is the total value of: A) All goods and services. B) All final goods and services. C) All intermediate groups and services. D) All intermediate and final groups and services. Show Answer Correct Answer: B) All final goods and services. 21. What does GDP refer to A) The value of goods and services produced by a country. B) The number of people living in a country. C) The average wage of the population. D) Its how many points the country has gained on the HDI from the previous year. Show Answer Correct Answer: A) The value of goods and services produced by a country. 22. Which of the following is the biggest programme launched for school children and has been very successful? A) Food for Work. B) ASHA. C) Mid Day Meal. D) Antyodaya Yojana. Show Answer Correct Answer: C) Mid Day Meal. 23. Which of the following State Government launched jawahar knowledge centre to train rural youth? A) Delhi. B) Karanataka. C) Andhra Pradesh. D) Tamil Nadu. Show Answer Correct Answer: C) Andhra Pradesh. 24. Capital market reforms includes which of the following factor? A) Setting up of SEBI. B) Special recovery tribunals. C) Introduction of capital adequacy norms. D) Deregulation of interest rates. Show Answer Correct Answer: A) Setting up of SEBI. 25. What is full form of GDP ..... A) Government Domestic Product. B) Gross Direct Production. C) Gross Domestic Product. D) Government Direct Production. Show Answer Correct Answer: C) Gross Domestic Product. 26. Which article of the Constitution envisages Budget? A) Article 110. B) Article 360. C) Article 112. D) Article 280. Show Answer Correct Answer: C) Article 112. 27. Which one of the following countries has the largest telecom network in Asia? A) China. B) India. C) Russia. D) Pakistan. Show Answer Correct Answer: B) India. 28. If a person is ready to work at the prevailing wage rate in the market, but he is unable to find the work, then what type of unemployment would it be called? A) Voluntary unemployment. B) Involuntary unemployment. C) Seasonal unemployment. D) None of the above. Show Answer Correct Answer: B) Involuntary unemployment. 29. What is the minimum weightage of life expectancy in HDI? A) 75%. B) 20%. C) 100%. D) 25%. Show Answer Correct Answer: D) 25%. 30. :Which of the following two programmes are merged with MGNREGA? A) SGRY & NFFWP. B) SGRY & SJSY. C) NFFWP & JRY. D) None of thes. Show Answer Correct Answer: A) SGRY & NFFWP. 31. In which year first official census was undertaken in India? A) 1871. B) 1881. C) 1851. D) 1991. Show Answer Correct Answer: B) 1881. 32. Improvement in transport has helped in promotion of A) Globalisation. B) Liberalisation. C) Privatisation. D) None of these. Show Answer Correct Answer: A) Globalisation. 33. The apex body for formulating plans and coordinating research work in agriculture and allied fields is A) National Bank for Agriculture and Rural Development (NABARD). B) Indian Council of Agricultural Research. C) State Trading Corporation. D) State Trading Corporation. Show Answer Correct Answer: A) National Bank for Agriculture and Rural Development (NABARD). 34. House wife teaching her children A) Private sector. B) Economic activity. C) Non-economic activity. D) Public sector. Show Answer Correct Answer: C) Non-economic activity. 35. Optimum Population is that ideal population which provides ..... A) Minimum Income per head. B) Maximum Income per head. C) Average Income per head. D) None of the above. Show Answer Correct Answer: B) Maximum Income per head. 36. Which committee give contribution for small scale industries? A) Alla banai. B) Abid Hussain. C) Azim Hussain. D) All. Show Answer Correct Answer: B) Abid Hussain. 37. What is MGNREGA? When was it implemented? A) Mahatma Gandhi National Rural Employment Guarantee Act, 2007. B) Mahatma Gandhi National Right Employment Guarantee Act, 2004. C) Mahatma Gandhi National Rural Employment Guarantee Act, 2005. D) Mahatma Gandhi National Rural Employment Guarantee Association, 2005. Show Answer Correct Answer: C) Mahatma Gandhi National Rural Employment Guarantee Act, 2005. 38. After which Five Year Plan, there were three annual Plan? A) Fourth Five Year Plan. B) Fifth Five Year Plan. C) Second Five Year Plan. D) Third Five Year Plan. Show Answer Correct Answer: D) Third Five Year Plan. 39. Which of the following sentences would best describe the Indian economy in 1991? A) High inflation, low foreign exchange reserve. B) High current account deficit, fiscal surplus. C) Current account surplus, huge fiscal deficit. D) Low inflation, low foreign exchange reserves. Show Answer Correct Answer: A) High inflation, low foreign exchange reserve. 40. Which of the following is not the objective of the WTO? A) To improve the standard of living of peoples of the member countries. B) To enlarge production and trade of goods. C) To protect environment. D) To improve the Balance of Payment situation of the member countries. Show Answer Correct Answer: D) To improve the Balance of Payment situation of the member countries. 41. Which is the most important sector A) Primary. B) Tertiary. C) Secondary. D) None of above. Show Answer Correct Answer: A) Primary. 42. In the Private sector, the ownership lies in the hands of ..... A) Private companies. B) Government. C) Private properties. D) State. Show Answer Correct Answer: A) Private companies. 43. Which of the following sector does not comes under the service sector in India? A) Real estate. B) Restaurants & hotels. C) Formation of electronic television. D) Transport. Show Answer Correct Answer: C) Formation of electronic television. 44. Union Budget of India is presented by whom and in which house/ houses of the Parliament? A) Finance Minister of India; Lok Sabha. B) Prime Minister of India; Rajya Sabha. C) Cabinet Secretary; Both Lok Sabha and Rajya Sabha. D) President of India; in joint session of Parliament. Show Answer Correct Answer: A) Finance Minister of India; Lok Sabha. 45. In India, which one among the following formulates the fiscal policy? A) The Reserve Bank of India. B) Ministry of Finance. C) Finance Commission. D) Planning Commission. Show Answer Correct Answer: C) Finance Commission. 46. According to Abid Hussain committee the investment limit for tiny enterprises was raised from 2 lakhs to ..... A) 25 lakhs. B) 3 lakhs. C) 4 lakhs. D) 5 lakhs. Show Answer Correct Answer: D) 5 lakhs. 47. Who regulates finance market in India? A) Ministry of finance. B) Reserve bank of India. C) Ministry of trade and commerce. D) SEBI. Show Answer Correct Answer: D) SEBI. 48. Which of the following sectors has received the highest FDI equity investment in India during 2019? A) Retail. B) Telecommunication. C) Software. D) Banking. Show Answer Correct Answer: D) Banking. 49. In which year was the GDP growth rate in India at its highest? A) 2010. B) 2018. C) 2008. D) 2011. Show Answer Correct Answer: D) 2011. 50. Land reforms primarily refer to: A) Change in the ownership of landholdings. B) Abolition of intermediaries. C) Use of technology in agriculture. D) Fixing the maximum size of land which could be owned by individual. Show Answer Correct Answer: A) Change in the ownership of landholdings. 51. How many members are in the Finance Commission of India? A) 3. B) 5. C) 6. D) 4. Show Answer Correct Answer: D) 4. 52. Planning Commission was set up in ..... A) 1950. B) 1951. C) 1948. D) 1952. Show Answer Correct Answer: A) 1950. 53. Which of the following provisions makes NREGA as the Right To Work A) Increase in land productivity has been given the preference. B) This act was passed by the parliament in 2005. C) This act has been spread to all districts in the country. D) If the government fails to provide employment it will give unemployment allowance. Show Answer Correct Answer: D) If the government fails to provide employment it will give unemployment allowance. 54. Which of the states got success in Land Reform? A) Kerala and West Bengal. B) Punjab and Haryana. C) Rajasthan and Assam. D) None of these. Show Answer Correct Answer: A) Kerala and West Bengal. 55. Special Economic Zones are being set up by ..... and ..... government. A) Central, State. B) Local. C) State. D) Central. Show Answer Correct Answer: A) Central, State. 56. In which year First five year plan started in India? A) 1960. B) 1950. C) 1951. D) 1961. Show Answer Correct Answer: C) 1951. 57. Which one of the following types of communication service in India is the largest in the world? A) Television network. B) Radio broadcasting. C) Internet services. D) Postal network. Show Answer Correct Answer: D) Postal network. 58. Tools we use to make products A) Entrepreneurs. B) Human resources. C) Natural resources. D) Capital resources. Show Answer Correct Answer: D) Capital resources. 59. What was the literacy rate of India in 2017? A) 74.4%. B) 79.5%. C) 65%. D) 70.4%. Show Answer Correct Answer: A) 74.4%. 60. The people who make the products come to the consumers by transportation are called ..... A) Businessman. B) Traders. C) Industrialists. D) Retailers. Show Answer Correct Answer: B) Traders. ← PreviousNext →Related QuizzesIndian Economy QuizzesGeneral Knowledge QuizzesIndian Economy Quiz 1Indian Economy Quiz 2Indian Economy Quiz 3Indian Economy Quiz 5 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books