Practice MCQ Questions on Indian Economy /Indian Economy GK Questions and Answers

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Q1. Economic Survey of India is related to

(a) Planning Commission
(b) Reserve Bank of India
(c) Ministry of Finance
(d) Finance Commission

Answer: (c) Ministry of Finance

Q2. Mixed economy in India was first introduced in which five year plan

(a) 1st
(b) 2nd
(c) 3rd
(d) 4th

Answer: (b) 2nd

Q3. Employing Workers Index was released by

(a) World Bank
(c) International Labour Organization
(d) Organisation for Economic Cooperation and Development

Answer: (a) World Bank

Q4. Liberalisation, Privatisation and Globalisation (LPG) model of development was introduced in India in the year

(a) 1989
(b) 1990
(c) 1991
(d) 1992

Answer: (c) 1991

Q5. Integrated Rural Development Programme (IRDP) was intiated on

(a) 1980
(b) 1982
(c) 1986
(d) 1989

Answer: (a) 1980

Q6. Who has the responsibility to maintain the official rate of exchange

(a) RBI
(b) World Bank
(c) State Bank
(d) Finance Ministry

Answer: (a) RBI

Q7. The maximum number of Deputy Governor in RBI can be

(a) 2
(b) 3
(c) 4
(d) 5

Answer: (c) 4

Q8. Who was the last deputy chairman of Planning Commission of India

(a) Madhu Dandavate
(b) Jaswant Singh
(c) K. C. Pant
(d) Montek Singh Ahluwalia

Answer: (d) Montek Singh Ahluwalia

Q9. What is the number of members in the Monetary Policy Committee (MPC)?

(a) 4
(b) 5
(c) 6
(d) 7

Answer: C [ 6 ]

Q10. Hindustan Shipyard Limited is located at?

(a) Kochi
(b) Mumbai
(c) Vishakaptnam
(d) Chennai

Answer: C [Vishakaptnam]

Q11. Which among the following is a Multinational Trade Negotiation Body ?

(a) IDA
(b) WTO
(c) IMF

Answer: B [WTO]
The World Trade Organization (WTO) is an intergovernmental organization that is aimed to promote and regulate regulation of international trade between nations. It commenced its operations on 1 January 1995 under the Marrakesh Agreement.

Q12. Which among the following publishes World Investment Report ?

(a) World Bank
(b) IMF
(c) OECD
(d) United Nations Conference on Trade and Development

Answer: D [United Nations Conference on Trade and Development]

Q13. Which among the following was previously known as Imperial Bank of India?

(a) State bank of India
(b) Reserve Bank of India
(c) Punjab National bank

Answer: A [State bank of India]

Q14. During which Planning Commission period, NABARD was established

(a) Third
(b) Sixth
(c) Seventh
(d) Ninth

Answer: (b) Sixth

Q15. How many zonal office does RBI has

(a) 4
(b) 5
(c) 6
(d) 8

Answer: (a) 4

Q16. How many languages are printed in an Indian currency note

(a) 12
(b) 13
(c) 15
(d) 17

Answer: (c) 15

Q17. The fiscal policy in india is formulated by

(a) Finance Ministry
(b) RBI
(c) Planning Commission
(d) National Income Committee

Answer: (a) Finance Ministry

Q18. Arundhati Bhattacharya is the first woman Chairperson of

(a) RBI
(b) SBI
(d) UCO

Answer: (b) SBI

Q19. State Bank Of India before nationalisation was known as

(a) General Bank of India
(b) Bank of Hindustan
(c) Grand Bank
(d) Imperial Bank of India

Answer: (d) Imperial Bank of India

Q20. In which year, SBI was founded

(a) 1956
(b) 1958
(c) 1962
(d) 1965

Answer: (a) 1956

Q21. Which state in India is the largest producer of salt?

(a) Kerala
(b) Andhra Pradesh
(c) Gujarat
(d) Maharashtra

Answer: C [Gujarat]
Gujarat is the largest producer of salt in India because of its extensive dry coast. Gujarat accounts for 77% of the salt produced in our country. Salt industries of Gujarat are thriving in Surat, Kutch, Bhavnagar, Rajkot, Anand, etc.

Q22. Which among the following is not a component of monetary policy in India?

(a) Moral suasion
(b) Public Debt
(c) Repo rate
(d) Credit Rationing

Answer: B [Public Debt]

Q23. “Gresham’s Law” in Economics relates which of the following?

(a) Supply and demand
(b) Circulation of currency
(c) Consumption and supply
(d) Distribution of goods and services

Answer: B [Circulation of currency]
Q33. Which of the following is / are the disadvantages of GM seeds?

1.High seed cost
2.Impact on the environment
3.Impact on human health
4.High productivity
Select the correct option from the choices given below:

(a) 1, 2 and 4 only
(b) 1, 2 and 3 only
(c) 2, 3 and 4 only
(d) 1 and 2 only

Answer: B [1, 2 and 3 only]
The impact of GM seeds on the environment, health, and soil is not assessed properly. The cost of GM seeds is also very high. The productivity is high which is an advantage of GM seeds.

Q34. Which among the following is not a rabi crop?

(a) Radish
(b) Pea
(c) Mustard
(d) carrot

Answer: C [Mustard]
The Rabi crops include wheat, barley, oats (cereals), chickpea/gram (pulses), linseed, mustard (oilseeds) etc.

Q35. Which of following is a cash crop?

(a) Rice
(b) Whear
(c) ] Sugarcane
(d) Tea

Answer: C [Sugarcane]
Cash crops are the crops produced for its commercial value rather than for use by the grower. Sugarcane, Oilseeds, Horticulture crops, Tea, Coffee, Rubber, Cotton, and Jute are some of the cash crops.

Q36. Which country is the largest rice importer in the world?

(a) China
(b) USA
(c) Iran
(d) Saudi Arabia

Answer: A [China]
China is the world’s largest rice importer in the world. China, Iran, Saudi Arabia and Indonesia are top 4 rice importers.

Q37. Which is the largest Bajra (pearl millet) producing state in India?

(a) Telangana
(b) Rajasthan
(c) Maharashtra
(d) Gujarat

Answer: B [Rajasthan]
The top 3 Bajra producing nations are :

  1. Rajasthan
  2. Gujarat
  3. Maharashtra

Q38.What is Horticulture’s share in the Indian export market?

(a) 30%
(b) 45%
(c) 33%
(d) None of the above

Answer: C [33%]

Q39.Who is known as the mother of Broiler poultry farming?

(a) William Harbor
(b) William jones
(c) Jonathan gener
(d) Wilmer steel

Answer: D [Wilmer steel]
Wilmer Steel started Broiler Poultry Farming with around 500 Hens in the year 1923. Her little business was so profitable that, by 1926, Mrs. Steele was able to build a broiler house with a capacity of 10,000 birds.

Q40. The outer shell of the hen’s egg is made up of which element?

(a) Sodium
(b) Calcium
(c) Magnesium
(d) Phosphorous

Answer: B [Calcium]
The outer eggshell is made almost entirely of calcium carbonate (CaCO3) and is covered with as many as 17,000 tiny pores. It is a semipermeable membrane, which allows air and moisture to pass through its pores.

Q41. On which day is the World Fisheries day celebrated?

(a) Dec 21
(b) November 21
(c) October 21
(d) January 21

Answer: B [November 21]
World Fisheries day is celebrated on November 21 around the world by the world fisher folk community.

Q42. Who is the first Finance Minister to have risen to be the President of India

(a) R Venkataraman
(b) Shankar Dayal Sharma
(c) K. R. Narayanan
(d) S Radhakrishnan

Answer: (a) R Venkataraman

Q43. Who has presented the maximum number of budgets with 10 budgets

(a) Pranab Mukherjee
(b) Yashwant Sinha
(c) Morarji Desai
(d) P. Chidambaram

Answer: (c) Morarji Desai

Q44. Which Finance Minister has introduced the service tax concept in india

(a) P. Chidambaram
(b) Manmohan Singh
(c) Indira Gandhi
(d) I. K. Gujral

Answer: (b) Manmohan Singh

Q45. In which year budget, the service tax concept was first introduce in India

(a) 1994-95
(b) 1995-96
(c) 1991-92
(d) 1992-93

Answer: (a) 1994-95

Q45. In which sector Indian Govt allow 100% foreign direct investment

(a) Telecome
(b) Petroleum refining
(c) Insurance
(d) Defence Production

Answer: (a) Telecome

Q46. India changed over to the decimal system of coinage in the year

(a) 1959
(b) 1948
(c) 1957
(d) 1952

Answer: (c) 1957

Q47. Which among the followings is the oldest Public Sector Bank of India

(a) Punjab National Bank
(b) Industrial Development Bank of India
(c) Allahabad Bank
(d) Central Bank of India

Answer: (c) Allahabad Bank

Q48. The Government of India earns maximum revenue from

(a) Income Tax
(b) Corporate Tax
(c) Sales Tax
(d) Central Bank of India

Answer: (b) Corporate Tax

Q49.The Great Lakes form an important area of inland water transport in which among the following regions?

(a) South America
(b) Europe
(c) Asia
(d) North America

Answer: D [North America ]
East central North America has one of the world’s most magnificent systems of inland waterways in the form of the Great Lakes. Great Lakes within themselves form an important area of inland water transport in North America. Navigation here extends from the head of Lake Superior to Buffalo.

Q50. Which is busiest season for Indian Money market?

(a) May-Spetember
(b) January-May
(c) May-June
(d) August-Spetember

Answer: C [May-June]

Q51. Who among the following sets the reserve ratio limits for the banks?

(a) Banks borad bureau
(b) RBI
(c) Department of Economic affairs
(d) Monetary policy committee

Answer: B [RBI]
In India RBI sets the reserve ratio limits for the banks. The reserve ratios are SLR and CRR.

Q52. Which of the following is incorrect regarding NBFC?

  1. They are registered under the companies act,1956
  2. They can accept deposits
  3. They buy shares
  4. They involve in agricultural lending

Choose the correct option from the choices given below:
(a) 1,2 and 3 only
(b) 2,3 and 4 only
(c) 1,2,3 and 4 only
(d) 1 and 3 only

Answer: D [1 and 3 only]
The NBFC’s are registered under the companies act,1956. They involve in financial activities but don’t include agriculture. They cannot accept demand deposits from the customers.

Q53. When was the Metropolitan Stock Exchange of India(MSE) established?

(a) 2008
(b) 2012
(c) 2013
(d) 2009

Answer: A [2008]

Q54.What is the share of IT trained manpower in the global digital industry?

(a) 80%
(b) 75%
(c) 59%
(d) 44%

Answer: B [75%]
India has become the global digital capabilities hub. It has about 75% of global digital talent present in the country.

Q55.In which year was NASSCOM established?

(a) 1999
(b) 1998
(c) 2000
(d) 1995

Answer: B [1998]
The National Association of Software and Service Companies is a trade association of Indian Information Technology and Business Process Outsourcing industry. It was Established in 1988.

Q56. .What is the total growth rate experienced by the Online retail Industry in the previous year?

(a) 31%
(b) 20%
(c) 12%
(d) 24.5%

Answer: A [31%]

Q57.What is the FDI received by Indian Retail business in the last 2 decades(2000-2020)?

(a) US$ 1.12 billion
(b) US$ 3.23 billion
(c) US$ 2.12 billion
(d) US$ 2.22 billion

Answer: C [US$ 2.12 billion]

Q58. What is the contribution of the Unorganised market in India’s retail market?

(a) 30%
(b) 88%
(c) 48%
(d) 61%

Answer: B [88%]

Q59. Who among the following owns National Housing Bank?

(a) Reserve bank of India
(b) SBI
(c) Mudra Bank
(d) Central government

Answer: A [Reserve bank of India]
National housing bank was established in 1988 under the National Housing bank act,1987. It is the apex institution of housing finance in India. It is wholly owned by RBI.

Q60. Which among the following is a function of SEBI?

  1. Regulates exports
  2. Regulates security markets
  3. Regulates Mutual funds
  4. Regulates Nabard

Choose the correct option from the choices given below:
(a) 1 and 3 only
(b) 2 and 3 only
(c) 1,2 and 4 only
(d) 2 only

Answer: B [2 and 3 only]
SEBI-Security Exchange Board of India was established in 1988. It became a statutory body in 1992. Its headquarters is located in Mumbai. It regulates security markets.

Q61. Which among the following is introduced by NPCI?

  1. Phone Pay
  2. UPI
  3. Bhim app
  4. Bharat QR

Choose the correct option from the choices given below:
(a) 1,2 and 3
(b) 1 and 3
(c) 2,3 and 4
(d) 1,2,3 and 4

Answer: C [2,3 and 4]
NPCI is the umbrella organization for retail payments in India. It introduced UPI, USSD, BHIM App, Bharat QR CODE, IMPS, National Financial Switch, CTS, BBPS, Rupay, NACH, AEPS.

Q62. Which among the following has the largest share of highways?

(a) 8 Lane
(b) 2 Lane
(c) 4 Lane
(d) 6 Lane

Answer: B [2 Lane]

Q63. What is the shortest highway in India?

(a) NH 345
(b) NH 548
(c) NH 119
(d) NH 445

Answer: B [NH 548]
NH 118 along with NH 548 are the shortest national highway in India. NH 118 connects the towns Asanbani and Jamshedpur in Jharkhand. The NH 548 traverses the state of Maharashtra. They are about 5 km in length.

Q64. What option does the central government not include in the development expenditure?

(a) Grants to states
(b) Expenditure on social and community services
(c) Expenditure on economic services
(d) Defence expenditure

Answer: D

Q65. Which of the following defines depreciation?

(a) Destruction of a plant in a fire accident
(b) Loss of equipment over time due to wear and tear
(c) Closure of a plant due to labour trouble
(d) Closure of a plant due to lockout

Answer: B

Q66. Generally, deficit financing can create inflation. However, it can be checked if _.

(a) government expenditure increases the aggregate supply in the aggregate demand ratio.
(b) all the investment is indicated as payment on national debt only.
(c) only the aggregate demand is increased.
(d) All of the above

Answer: D

Q67. With which of the following did the ARDC merged with on 12 July, 1982?

(b) EXIM Bank
(c) RBI
(d) None of the above

Answer: A

Q68. What is the main cause of the export surplus?

(a) The country’s stringent import policy
(b) Developments in national and international markets
(c) The country’s exports promotion value
(d) None of the above

Answer: B

Q69. If RBI reduces the cash reserve ratio, what will happen to the credit creation?

(a) There will be no impact.
(b) It will decrease.
(c) It will increase.
(d) None of the above

Answer: C

Q70. Which option is not mentioned in a firm’s balance sheet?

(a) Cash held at the bank
(b) Revenue from sales of the company’s products
(c) Total issued capital
(d) Value of the stocks of raw materials held

Answer: B

Q71. Which of the following does the state financial corporation in the State Bank of India give special assistance to?

(a) Medium and small-scale industries
(b) Large-scale industries
(c) Cottage industry
(d) Agricultural farms

Answer: A

Q72. Which of the following are the central cooperative banks irectly associated with?

(a) Central government
(b) Land development banks
(c) State cooperative banks
(d) Farmers

Answer: C

Q73. The first complete Indian Bank was established in which year?

(a) 1794
(b) 1894
(c) 1896
(d) 1902

Answer: B

Q73. Who gave the call for Evergreen Revolution?

(a) M. S. Swaminathan
(b) Verghese Kurien
(c) Tribhuvandas Patel
(d) H. M. Dalaya

Answer: Option A

Q74. Open market operation is a part of:

(a) Credit Policy
(b) Debit Policy
(c) Deposit Policy
(d) None of these

Answer: Option A

Q75. During which five Year plan was phase of heavy industrialization initiated?

(a) Second five year plan.
(b) First five year plan
(c) Third five year plan
(d) Fourth five year plan

Answer: Option A

Q76. The Mid Day Meal scheme was launched on

(a) August 15, 2000
(b) August 15, 1992
(c) August 15, 1995
(d) August 15, 2001

Answer: Option C

Q77. Securities and Exchange Board of India (SEBI) was established on:

(a) April 12, 1988
(b) July 12, 1982
(c) July 9, 1988
(d) July 5, 1995

Answer: Option A

Q78. With which country did India’s comprehensive Economic partnership Agreement come into effect on August 1, 2011?

(a) South Korea
(b) China
(c) Taiwan
(d) Japan

Answer: Option D

Q79. National food for Work programme aimed at intensifying the generation of supplementary wage employment was launched in:

(a) October 2004
(b) September 2003
(c) November 2004
(d) January 2004

Answer: Option C

Q80. National Rural Health mission was launched in:

(a) October 2005
(b) August 2005
(c) April 2005
(d) July 2005

Answer: Option C

Q81. Government has merged Annapurna Scheme with:

(a) National Old Age Pension Scheme
(b) Ujjwala
(c) IRDP
(d) None of these

Answer: Option A

Q82. National Income estimates in India is prepared by:

(a) Planning Commission
(b) Reserve Bank Of India
(c) Central Statistical Organisation (CSO)
(d) Indian Statistical Institute

Answer: Option C

Q83. The first national commission on labours was constituted on:

(a) December 24, 1966.
(b) December 24, 1967
(c) November 24, 1966
(d) November 24, 1967

Answer: Option A

Q84. The main rubber producing state in the country is:

(a) Kerala
(b) Tamil Nadu
(c) Karnataka
(d) Hyderabad

Answer: Option A

Q85. Unit Trust of India (UTI) was bifurcated (into UTI-I and UTI-II) in:

(a) the year 2005
(b) the year 2000
(c) the year 2003
(d) the year 2001

Answer: Option C

Q86. In India Yellow revolution is associated with:

(a) production of tea
(b) production of oil seeds.
(c) production of flower
(d) production of paddy

Answer: Option B

Q87. The programme which was launched in 1974-75 with the main objectives of improving the utilization of created irrigation potential is:

(a) Command Area Development (CAD)
(b) Cordial Area Development
(c) Copper Area Development
(d) Cop Authority Development

Answer: Option A

Q88. The total number of national highways in the country is:

(a) 220
(b) 225
(c) 228
(d) 223

Answer: Option C

Q89. When personal direct taxes are subtracted from personal income the obtained value is called:

(a) Gross Domestic Product (GDP)
(b) National Income
(c) Gross National Product (GNP)
(d) Personal Income

Answer: Option C

Q90. As per the Prime Minister’s Economic Advisory Council (PMEAC) Economic Outlook 2011-12, Indian economy is expected to expand by:

(a) 8.2% in 2011-12
(b) 8.0% in 2011-12
(c) 8.5% in 2011-12
(d) 7.8% in 2011-12

Answer: Option B

Q91. Maternal Mortality Ratio (MMR) of India has declined to ______per lakh live births in 2014-16.

(a) 200
(b) 130
(c) 120
(d) 100.

Answer: b

Q92. The overall electricity savings in India due to adoption of energy efficiency measures is estimated at _________per cent of the net electricity consumption

in 2017-18.

(a) 8
(b) 7.21
(c) 5
(d) 12.5

Answer: b

Q93. The main justification for persisting with different levels of minimum wages across states is that they reflect___________.

(a) Different levels of economic development
(b) Different geographical characteristics
(c) Different life expectancies
(d) Different consumption patterns

Answer: a

Q94. Which of the following states is the best performer in terms as GSVA in the service sector?

(a) Maharashtra
(b) Karnataka
(c) Andhra Pradesh
(d) Himachal Pradesh

Answer: (b)

Q95. FDI equity inflows into the services sector accounted for how much per cent of the total FDI equity inflows into India in 2018-19?

(a) 90%
(b) 63.7%
(c) 10.4%
(d) 30.1%

Answer: (b)

Q96. As per the UN National Accounts Statistics data for 2017, India ranked

(a) 3th in terms of GDP size
(b) 7th in terms of GDP size
(c) 6th in terms of GDP size
(d) 5th in terms of GDP size

Answer: (b)

Q97. Green colour indicates the __ in terms of SGD index

(a) Front runners
(b) Performers
(c) Aspirants
(d) Achievers

Answer: (a)

Q98. In 2018 „Telecom Commission‟ has been re-designated as__________

(a) „Mobile Communications Commission‟
(b) „Telecom Communications Commission‟
(c) „Digital Communications Commission‟
(d) „M2M Communications Commission‟

Answer: c

Q98. Which of the following is NOT a feature of the manufacturing sector in India

(a) Formal manufacturing is high productivity
(b) It exhibits domestic convergence
(c) Peak employment share is declining
(d) Registered manufacturing is expanding fast

Answer: d

Q99. In which year was the Small-Scale Industries (SSI‟s) in India renamed as Micro, small and medium enterprises (MSME‟s)?

(a) 2006
(b) 2007
(c) 2005
(d) 2004

Answer: a

Q100. What is the total number of MSME‟s in India in organized sector according to the latest MSME census?

(a) 25.4 million
(b) 29.8 million
(c) 48.7 million
(d) 43.4 million

Answer: b

Q101. FRBM committee recommended centre debt to GDP ratio to be at

(a) 37 percent
(b) 40 percent
(c) 25 percent
(d) 35 percent

Answer: b

Q102. The first planning commission in India was formed in the year

(a) 1947
(b) 1950
(c) 1952
(d) 1955

Answer: (b) 1950

Q103. The concept of five year paln was borrowed from

(a) USA
(b) England
(c) Rusia
(d) France

Answer: (c) Rusia

Q104. The National Development Council was established in the year

(a) 1952
(b) 1955
(c) 1960
(d) 1963

Answer: (a) 1952

Q105. The focus of the Second Five Year Plan was

(a) Agriculture
(b) Industrialization
(c) Education
(d) Foreign Direct Investment

Answer: (b) Industrialization

Q106. Who is the largest trading partner of India

(a) USA
(b) China
(c) England
(d) United Arab Emirates

Answer: (b) China

Q107. Reserve Bank of India was nationalised in the year

(a) 1935
(b) 1945
(c) 1949
(d) 1952

Answer: (c) 1949

Q108. Which one is the largest banking and financial services company in India by assets

(a) Bank of Baroda
(b) Punjab National Bank
(c) State Bank of India
(d) ICICI Bank

Answer: (c) State Bank of India

Q109. What is the gdp per capita of india in 2012 according to World Bank data

(a) 1250 $
(b) 1489 $
(c) 1572 $
(d) 1691 $

Answer: (b) 1489 $

Q110. Total number of code (character and number) in Indian Financial System Code (IFSC) system is

(a) 7
(b) 9
(c) 10
(d) 11

Answer: (d) 11

Q111. Which income is exempt under the Indian Income Tax Act

(a) Agricultural income
(b) Industrial income
(c) Company income
(d) NGO income

Answer: (a) Agricultural income

Q112. Which Indian states paying highest tax revenues

(a) Madhya Pradesh
(b) Andhra Pradesh
(c) Maharashtra
(d) Uttar Pradesh

Answer: (c) Maharashtra

Q113. Which Prime Minister first take steps for nationalisation of banks

(a) Rajiv Gandhi
(b) Indira Gandhi
(c) P. V. Narasimha Rao
(d) V. P. Singh

Answer: (b) Indira Gandhi

Q114. When the first Finance Commission of India is formed

(a) 1947
(b) 1950
(c) 1951
(d) 1953

Answer: (c) 1951

Q115. The one rupee note bears the signature of

(a) RBI Governor
(b) President of India
(c) Finance Minister
(d) Finance Secretary

Answer: (d) Finance Secretary

Q116. A Surplus budget is recommended during

(a) Depression
(b) Boom
(c) War
(d) Famines

Answer: (b) Boom

Q117. India’s National income is measured with the help of

(a) Product method
(b) Income method
(c) Expenditure method
(d) All of the above

Answer: (d) All of the above

Q118. The Economic Survey in India is published by

(a) Ministry of Finance
(b) Planning Commission
(c) Government of India
(d) Indian Statistical Institute

Answer: (a) Ministry of Finance

Q119. What is the mainstay of Indian economy

(a) Manufacturing
(b) Agriculture
(c) Business
(d) Public sector undertaking

Answer: (b) Agriculture

Q120. Deficit financing means that the government borrows money from the

(a) Revenue Department
(b) World bank
(c) Reserve Bank of India
(d) State Bank of India

Answer: (c) Reserve Bank of India

Q121. Which of the following will not come under the proposed GST in India

(a) Agricultural products
(b) Handicrafts
(c) Gems and Jewelleries
(d) Petroleum products

Answer: (d) Petroleum products

Q122. Which Five-Year plan focussed on “growth with social justice and equity”

(a) Sixth Five-Year Plan
(b) Seventh Five-Year Plan
(c) Eight Five-Year Plan
(d) Ninth Five-Year Plan

Answer: (d) Ninth Five-Year Plan

Q123. PAN stands for

(a) Permanent Account Number
(b) Personal Account Number
(c) Public Account Number
(d) Postal Account Number

Answer: (a) Permanent Account Number

Q124. The system of VAT is applicable to

(a) Income tax
(b) Estate duty
(c) Taxes on agricultural income
(d) Excise duties

Answer: (d) Excise duties

Q125. Which of the following controls the share market of India

(a) BIFR
(b) FERA
(c) SEBI
(d) MRTP Act

Answer: (c) SEBI

Q126. Who is known as the Pioneer of Economic Nationalism

(a) R.C. Dutt
(b) Gopal Krishna Gokhale
(c) Bipin Chandra Pal
(d) Madan Mohan Malviya

Answer: (a) R.C. Dutt

Q127. Repo rate and Reverse Repo rate are related with

(a) Government’s Financial Policy
(b) Public Debt
(c) Import-Export
(d) Credit Policy of Reserve Bank

Answer: (d) Credit Policy of Reserve Bank

Q128. The Government of India adopted the Special Economic Zones (SEZ) Act in the year

(a) 2003
(b) 2004
(c) 2005
(d) 2006

Answer: (c) 2005

Q129. In India, the Capital Market conditions are regulated by

(a) RBI
(b) LIC
(c) SEBI

Answer: (c) SEBI

Q130. Which among the following countries is not a part of OPEC?
Which among the following countries is not a part of OPEC?

(a) Iraq
(b) Saudi Arabia
(c) Venezuala
(d) Austria

Answer: D [Austria]Iraq

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