Sunday, 11 January 2015

Indian Economy GK 2015 Questions with Answers

Part 1 Indian Economy GK

l. On August 5, 2014 RBI announced its Monetary Policy Review 2014-15. What is true for it?
(A) Reduced Repo by 25 bps (B) Reduced CRR by 25 bps
(C) Raised MSF by 25 bps (D) Cut SLR by 50 bps
Answer: Cut SLR by 50 bps

2. As per the CSO’s estimates, the ratio of fixed capital formation to ‘GDP in 2013-14 has been placed at–
(A) 30.9% (B) 28.3% (C) 27.8% (D) 26.3%
Answer: 28.3%

3. SAARC University will have its head office in–
(A) Dhaka (Bangladesh) (B) New Delhi (India)
(C) Colombo (Sri Lanka) (D) Male (Maldives)
Answer: New Delhi (India)

4. The base year of present Consumer Price Index (CPI) for Rural Labourer is–
(A) 1980-81 (B) 1981-82 (C) 1982-83 (D) 1986-87
Answer: 1986-87

5. The growth rate of population as per final data of Census 2011 during 2001-11 stood at–
(A) 16.3% (B) 16.9% (C) 17.7% (D) 18.3%
Answer: 17.7%

6. MRTP is related to–
(A) Monopolies and Restrictive Trade Practices  (B) Inflation control
(C) Transport control (D) Foreign Exchange Regulations
Answer: Monopolies and Restrictive Trade Practices

7. Which among the following contribute the minimum in collection of one rupee as per estimates of Union Budget 2014-15 ?
(A) Corporation Tax (B) Income Tax (C) Customs (D) Union Excise duty
Answer: Customs

8. ‘Apna Khet, Apna Kaam’ (i.e., Own Field, Own Work) is a new scheme under MNREGA has been initiated in the state–
(A) Punjab (B) Gujarat (C) Rajasthan (D) Madhya Pradesh
Answer: Rajasthan

9. Banks are supposed to pay penalty to customers whose complaints against failed ATM cash transactions are not settled within 12 days from date of complaint. This period for settlement is further reduced. What is the revised time limit now?
(A) 5 days (B) 7 days (C) 8 days (D) 10 days
Answer: 7 days

10. Who was the Chairman of the panel constituted to study the recommendations of National Advisory Council (NAC) on the proposed Food Security Bill ?
(A) Montek Singh Ahluwaliah (B) Pranab Mukherjee
(C) C. Rangrajan (D) Deepak Parikh
Answer: C. Rangrajan

11. As per provisional estimates of CSO for the year 2013-14 GDP growth rate has been estimated at–
(A) 4.3% (B) 4.5% (C) 4.7% CD) 4.9%
Answer: 4.7%

12. The period of 11th plan was–
(A) 2005-10 (B) 2006-11 (C) 2007-12 (D) 2008-13
Answer: 2007-12

13. For which type of fertilizer India is fully dependent on imports?
(A) Nitrogen Fertilizer (B) Phosphetic Fertilizer
(C) Potash Fertilizer (D) None of the above
Answer: Potash Fertilizer

14. ‘Sensitive sector’ as defined by RBI inc1ude(s)–
(A) Capital Market (B) Real Estate (C) Commodities (D) All of the above
Answer: All of the above

15. NT PC has decided to set up its first overseas power plant in–
(A) Mauritius (B) Sri Lanka (C) Indonesia (D) Kenya
Answer: Sri Lanka

16. Which of the following report has the Theme ‘JOB’ ?
(A) Human Development Report 2013 (B) World Development Report 2013
(C) World Investment Report 2013 (D) None of the above
Answer: World Development Report 2013

17. In the latest report of IMF, entitled ‘World Economic Out-look’ released in April 2014, the projected India’s growth rate for the year 2014 stands at–
(A) 4.6% (B) 5.0% (C) 5-4% (D) 5.8%
Answer: 5-4%

18. Which of the following is a group of Kharif crops?
(A) Jwar, Bajra, Rice, Cotton, Jute, Gram (B) Wheat, Barley, Gram, Sesame
(C) Rice, Millet, Maize, Cotton (D) Groundnut, Bajra, Barley, Gram, Sesame
Answer: Rice, Millet, Maize, Cotton

19. Which is the first Export Processing Zone declared as Free Trade Zone in India?
(A) Santacruz (B) Kandla (C) Falta (D) Noida
Answer: Santacruz

20. India’s official anti-monopoly body, the Competition Commission of India (CCI) has finally become operational w.e.f.–
(A) April 1, 2009 (B) May 20, 2009
(C) May 22, 2009 (D) May 30, 2009
Answer: May 20, 2009

21. Which of the following state has decided to constitute ‘Innovation Council’ on the lines of National Innovation Council constituted by the centre government?
(A) Haryana (B) Gujarat (C) Kamataka (D) Maharashtra
Answer: Haryana

22. Which State produces maximum Soyabean?
(A) Madhya Pradesh (B) Uttar Pradesh (C) Bihar (D) Rajasthan
Answer: Madhya Pradesh

23. The Federal Reserve is an important organisation of which country?
(A) The United States of America (B) The European Union
(C) England (D) France
Answer: The United States of America

24. CSO has changed the base year for National Accounting from 1999-2000 to 2004-2005. How many times the base year has been changed so far since independence?
(A) Four times (B) Five times (C) Six times (D) Seven times
Answer: Six times

25. World Communication Day is observed on–
(A) May 15 (B) May 16 (C) May 17 (D) May 18
Answer: May 17

26. Which institution is known as ‘soft loan window’ of World Bank ?
(A) IFC (B) IDA (C) IMF (D) Indian Development Forum
Answer: IDA

27. NOAPS has been renamed as Indira Gandhi Old Age Pension Scheme with its extended scope. Now this scheme will include all old age persons–
(A) Living below poverty line (B) Above 60 years age
(C) Above 65 years age (D) Both (A) and (C)
Answer: Both (A) and (C)

28. Which Nationalised Commercial Bank has launched signature based debit card scheme?
(A) Bank of Baroda (B) Punjab National Bank
(C) Central Bank of India (D) Indian Bank
Answer: Punjab National Bank

29. OTCEI is–
(A) Atomic Submarine of China (B) Economic Policy of USA
(C) An Indian Share Market (D) A defence research organisation
Answer: An Indian Share Market

30. The weightage of manufacturing sector items in new base (2004-05) wholesale price index is–
(A) 58.02% (B) 59.97% (C) 62.28% (D) 64.97%
Answer: 64.97%

Part 2 Indian Economy GK

1. As per Economic Survey 2013-14, the gross domestic savings rate during 2012-13 has been estimated at–
(A) 30.1% (B) 31.3% (C) 33.7% (D) 36.8%
Answer: 30.1%

2. Which of the following has become the first Regional Rural Bank issuing debit card in the country ?
(A) Punjab Gramin Bank (B) Nainital/Almora RRB
(C) Kashi Gomti Sanyukta Gramin Bank (D) Barodo RRB
Answer: Kashi Gomti Sanyukta Gramin Bank

3. CAPART is related with–
(A) Assisting and evaluating rural welfare programmes (B) Computer hardware
(C) Consultant service of export promotion (D) Controlling pollution in big industries
Answer: Assisting and evaluating rural welfare programmes

4. Note issuing deptt. of RBI should always possess the minimum gold stock of worth–
(A) Rs. 85 crore (B) Rs. 115 crore (C) Rs. 200 crore (D) None of these
Answer: Rs. 115 crore

5. Interest Rate Policy is a part of–
(A) Fiscal Policy (B) Industrial Policy (C) Monetary Policy (D) None of the above
Answer: Monetary Policy

6. The basis of determining dear-ness allowance to employees in India is–
(A) National Income (B) Consumer Price Index
(C) Standard of Living (D) Per Capita Income
Answer: Consumer Price Index

7. SJSRY belongs to–
(A) Urban areas (B) Rural areas (C) Semi-urban areas (D) All of the above
Answer: Urban areas

8. What is ‘Hawala’ ?
(A) Full details of a subject (B) Illegal transactions of foreign exchange
(C) Illegal trading of shares (D) Tax evasion
Answer: Illegal transactions of foreign exchange

9. Which of the following public sector enterprize does not possess Maharatna Status given to four Navratna companies?
Answer: BHEL

10. Census 2011 data show that ...... per cent of the girls in 2011 were those who did not contribute to any economic activity (termed as non-workers by Census).
(A) 25 (B) 40 (C) 60 (D) 75
Answer: 75

11. As per provisional estimates of CSO for 2013-14, agriculture and allied sector growth has been placed at–
(A) – 0.2% (B) 2.1 % (C) 3.0% (D) 4.7%
Answer: 4.7%

12. Which states have not yet established any RRB ?
(A) Sikkim and Goa (B) Bihar and Rajasthan
(C) Sikkim and Arunachal Pradesh (D) Nagaland
Answer: Sikkim and Goa

13. Croatia w.e.f. July 2013 joined European Union as–
(A) 26th member (B) 27th member  (C) 28th member (D) 29th member
Answer: 28th member

14. Which of the first subsidiary bank of SBI was merged with State Bank of India?
(A) State Bank of Indore (B) State Bank of Patiala
(C) State Bank of Hyderabad (D) State Bank of Saurashtra
Answer: State Bank of Saurashtra

15. Newly inaugurated helpline ‘Udyami’ is to assist–
(A) Micro, Small and Medium enterprises (B) Large capital industries
(C) Only female entrepreneur (D) Farmers introducing technology in farming
Answer: Micro, Small and Medium enterprises

16. On which one of the following ‘Head of Expenses’, the expenses of the Govt. of India are highest?
(A) Food Subsidy (B) Oil Subsidy (C) Fertiliser Subsidy (D) POL Subsidy
Answer: Food Subsidy

17. Durgapur Steel Plant was constructed with the assistance given by–
(A) Britain (B) France (C) USA (D) Germany
Answer: Britain

18. During the year 2013-14, the Current Account Deficit (CAD) in Indian economy has been estimated at–
(A) 4.7% of GDP (B) 4.0% of GDP (C) 2.7% of GDP (D) 1.7% of GDP
Answer: 1.7% of GDP

19. Which year was declared as Year of Passenger Service with a smile by the Ministry of Railway?
(A) 2003-04 (B) 2004-05 (C) 2005-06 (D) 2006-07
Answer: 2006-07

20. The density of population (i.e., persons/sq km) in Census 2011 stood at–
(A) 359 (B) 368 (C) 372 (D) 382
Answer: 382

21. Which state produces maximum rice in the country ?
(A) West Bengal (B) Uttar Pradesh (C) Madhya Pradesh (D) Maharashtra
Answer: West Bengal

22. Which States produces maximum pulses in the country ?
(A) Madhya Pradesh (B) Uttar Pradesh (C) Rajasthan (D) Maharashtra
Answer: Madhya Pradesh

23. The new software application Sandesh Pathak has been developed for–
(A) Media (B) Farmers (C) Tourists (D) Blinds
Answer: Farmers

24. Nachiket Mor committee has submitted its recommendations which are related to–
(A) Insider Trading (B) Financial Inclusion (C) Micro Financing (D) None of the above
Answer: Financial Inclusion

25. During the year 2013, India has overtaken Japan in crude oil Import and became the. largest crude oil importing country in the world.
(A) First (B) Second (C) Third (D) Fourth
Answer: Third

26. Meera Seth Committee was related to–
(A) Development of Handlooms (B) Sex-differentiation in employment
(C) Abolition of Child Labour (D) Welfare of Working Women
Answer: Development of Handlooms

27. How many public sector companies have been included in ‘CPSEETF’ ?
(A) 5 (B) 7 (C) 10 (D) 12
Answer: 7

28. According to World Economic Outlook Update of IMF, India is likely to register an economic growth rate of ..... per cent during the financial year 2013-14.
(A) 4.4% (B) 4.6% (C) 4.8% (D) 5.0%
Answer: 4.6%

29. Which of the following sectors has been estimated to have the negative growth rate during 2013-14 ?
(A) Manufacturing (B) Construction (C) Electricity, gas and water supply
(D) None of the above
Answer: Manufacturing

30. In Union Budget 2014-15, the Effective Revenue Deficit for 2014-15 has been estimated at–
(A) 2.1% of GDP (B) 1.6% of GDP (C) 1.2% of GDP (D) 0.8% of GDP
Answer: 1.6% of GDP

Part 3 Indian Economy GK

1. ‘Sensitive Sector’ as defined by RBI includes–
(A) Capital Market (B) Real Estate (C) Commodities (D) All of the above
Answer: All of the above

2. Bank Cash Transaction Tax (BCTT) was withdrawn w.e.f.–
(A) January 1, 2009 (B) March 1, 2009
(C) March 31, 2009 (D) April 1, 2009
Answer: April 1, 2009

3. As per the Economic Survey 2013-14, the share of agriculture and allied sector in country’s GDP in 1999-2000 was 23.2% which during 2013-14 declined to ?
(A) 13.9% (B) 15.3% (C) 16.2% (D) 16.8%
Answer: 16.2%

4. WorId’ s first underwater rail link between two countries, connecting Asia and Europe, was un-veiled in–
(A) England (B) Turkey (C) China (D) India
Answer: Turkey

5. The State having the highest literacy rate among woman in India is–
(A) Tamil Nadu (B) Kerala (C) West Bengal (D) Maharashtra
Answer: Kerala

6. National Rural Livelihood Mission (NRLM) was introduced in the year–
(A) 1978-79 (B) 1979-80 (C) 2011-12 (D) 1981-82
Answer: 2011-12

7. Which plan was terminated one year before the time schedule ?
(A) First Plan (1951-56) (B) Third Plan (1966-71)
(C) Sixth Plan (1980-85) (D) Fifth Plan (1974-79)
Answer: Fifth Plan (1974-79)

8. Which pair is not correct ?
(A) I Plan (1951-56) (B) III Plan (1966-71)
(C) VI Plan (1980-85) (D) X Plan (2002-07)
Answer: III Plan (1966-71)

9. The first airconditioned double decker train in India has been started between–
(A) Howarah and Patna (B) Dhanbad and Darjeeling
(C) Howarah and Dhanbad (D) Howarah and Delhi
Answer: Howarah and Dhanbad

10. Which of the following panel was appointed to put forward recommendations on GAAR ?
(A) Rangrajan Panel (B) Shome Panel (C) Reddy Panel (D) None of the above
Answer: Shome Panel

11. Which of the following was the first state in the country to introduce Mobile Number Portability Number Service in November 2010 ?
(A) Punjab (B) Gujarat (C) Maharashtra (D) Haryana
Answer: Haryana

12. On the recommendations of Kelkar committee, no new RRB was established since–
(A) April 1987 (B) April 1988 (C) April 1989 (D) April 1990
Answer: April 1987

13. Indian Banks have the maximum foreign branches in–
(A) Bangladesh (B) U.K. (C) USA (D) Sri Lanka
Answer: U.K.

14. The first public sector bank in India which obtained license for Internet Banking from RBI is–
(A) Punjab National Bank (B) Oriental Bank of Commerce
(C) Corporation Bank (D) State Bank of India
Answer: Punjab National Bank

15. Economic Planning is in–
(A) Union list (B) State list (C) Concurrent list (D) Not any specified list
Answer: Concurrent list

16. Dunkel Draft was–
(A) Associated with Uruguay round (B) Related to atomic treaty among nations
(C) Related to Super 301 (D) Related to promoting drugs trade
Answer: Associated with Uruguay round

17. Mega Food Parks Scheme was initiated by the Govt. of India with the objective–
(A) To ensure better prices of products to farmers (B) To increase productivity of agriculture crops
(C) To control food prices (D) None of the above
Answer: To ensure better prices of products to farmers

18. Which of the following organisation provides guarantee to exporters?
(A) EXIM Bank (B) Export Loan Guarantee Corporation (C) RBI (D) Commerce Ministry
Answer: Export Loan Guarantee Corporation

19. Who is not the member of National Development Council?
(A) Governors of the State (B) Chief Ministers of the State
(C) Administrators of Union Territory (D) All Ministers of Union Cabinet
Answer: Governors of the State

20. Ministry of Micro, Small and Medium Enterprises has pro-posed to Planning Commission to merge two on-going employment generation schemes. These schemes are–
Answer: PMRY and RLEGP

21. What percentage of country’s demand for natural rubber is met by indigenous production ?
(A) 80% (B) 86% (C) 97% (D) 100%
Answer: 97%

22. Comprehensive Crop Insurance Scheme was introduced in–
(A) April 1985 (B) April 1988 (C) October 1992 (D) October 1993
Answer: April 1985

23. Interest Rate on EPF deposits of the employees for the year 2013-14 was declared to be–
(A) 8.25% (B) 8.50% (C) 8.75% (D) 9.00%
Answer: 8.75%

24. When was National Bamboo Mission Commissioned ?
(A) 2006 (B) 2007 (C) 2008 (D) 2009
Answer: 2006

25. According to Australia-based Walk Free Foundation Report, which country tops the list of Global Slavery Index?
(A) India (B) Pakistan (C) China (D) Nigeria
Answer: India

26. Finance Commission is appointed by the President under Article–
(A) 256 of Constitution (B) 280 of Constitution
(C) 293 of Constitution (D) 356 of Constitution
Answer: 280 of Constitution

27. How many central sponsored schemes have been included in the Direct Benefit Transfer Scheme for transfering subsidy benefit in bank accounts of beneficiaries ?
(A) 5 (B) 6 (C) 7 (D) 20
Answer: 7

28. Platinum Jubilee Year of the Reserve Bank of India is–
(A) 2008-09 (B) 2009-10 (C) 2010-11 (D) 2011-12
Answer: 2009-10

29. Bank International Indonesia (BII) has opened its first branch in India at–
(A) Hyderabad (B) Bengaluru (C) Mumbai (D) Gurgaon
Answer: Mumbai

30. UN’s “World Population Prospects 2012” report projects world population in 2050 at–
(A) 8.9 billion (B) 9.2 billion (C) 9.6 billion (D) 10.2 billion
Answer: 9.6 billion


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