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Indian Economy MCQ Questions and answers for practice | GK

Learn and practice General Knowledge questions and answers on Indian Economy with very easy and understandable explanations. GK questions are very helpful different type of competitive exams.

Each section contains 100 MCQs on Indian Economy .
1
Aam Admi Bima Yojana was launched on:
Discuss
Answer & Solution
Answer: Option D
Solution:
The Aam Admi Bima Yojana was launched on 2nd October 2007. It is a social security scheme that is targeted toward the low-income families of India.
2
Planning commission constituted a high level committee for financial sector reforms in August 2007 under the Chairmanship of:
Discuss
Answer & Solution
Answer: Option B
Solution:
The Raghuram Rajan Committee on Financial Sector Reforms was a committee constituted by the Government of India in 2007 for proposing the next generation of financial sector reforms in India.
3
Who gave the call for Evergreen Revolution?
Discuss
Answer & Solution
Answer: Option A
Solution:
Father of the Green Revolution in India and renowned farm scientist M S Swaminathan has given the call for 'evergreen revolution', “which implies productivity improvement in perpetuity without ecological and social harm.
4
Open market operation is a part of:
Discuss
Answer & Solution
Answer: Option A
Solution:
Open market operation is a part of Credit Policy.
5
Income tax in India was introduced by:
Discuss
Answer & Solution
Answer: Option B
Solution:
The 19th century saw the establishment of British rule in India. Following the Mutiny of 1857, the British government faced an acute financial crisis. To fill up the treasury, the first Income-tax Act was introduced in February 1860 by James Wilson, who became British-India's first Finance Minister.
6
During which five Year plan was phase of heavy industrialization initiated?
Discuss
Answer & Solution
Answer: Option A
Solution:
The Second Five-Year plan accorded highest priority to Industrialisation. The plan was based on famous Mahalanobis Model. Mahalanobis model set out the task of establishing basic and capital goods industries on a large scale to create a strong base for the industrial development.
7
The Mid Day Meal scheme was launched on
Discuss
Answer & Solution
Answer: Option C
Solution:
National Programme of Mid Day Meal in Schools. With a view to enhance enrolment, attendance, retention and simultaneously to improve the nutritional status of children, a Centrally Sponsored Scheme 'National Programme of Nutritional Support to Primary Education (NP-NSPE)' was launched on 15th August, 1995.
8
Who is responsible for establishing and maintaining astound and efficient accounting and financial reporting system in India?
Discuss
Answer & Solution
Answer: Option A
Solution:
The Comptroller General of Accounts (CGA) in the Department of Expenditure, Ministry of Finance is the Principle Accounting Advisor to the Government of India on accounting matters and is responsible for establishing and maintaining a sound and efficient accounting and financial reporting system.
9
Securities and Exchange Board of India (SEBI) was established on:
Discuss
Answer & Solution
Answer: Option A
Solution:
The Securities and Exchange Board of India (SEBI) is the regulator of the securities and commodity market in India owned by the Government of India. It was established on 12 April 1988 and given Statutory Powers on 30 January 1992 through the SEBI Act, 1992.
10
The Ministry and programme Implementation - as an independent Ministry came into existence on :
Discuss
Answer & Solution
Answer: Option A
Solution:
The Ministry of Statistics and Programme Implementation came into existence as an Independent Ministry on 15.10.1999 after the merger of the Department of Statistics and the Department of Programme Implementation.