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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. Page-2 section-2

Each section contains 100 MCQs on Indian Economy .
11
Which of the following is the first Indian private company to sign an accord with Government of Myanmar for oil exploration in two offshore blocks in that country?
Discuss
Answer & Solution
Answer: Option B
Solution:
Essar Oil is the first Indian private company to sign an accord with Government of Myanmar for oil exploration in two offshore blocks in that country.
12
Non Tax revenues can be increased by improving the working of the
Discuss
Answer & Solution
Answer: Option C
Solution:
Non Tax revenues can be increased by improving the working of the commercial irrigation projects.
13
Which of the following is not viewed as a national debt?
Discuss
Answer & Solution
Answer: Option C
Solution:
National Saving Certificate is not viewed as a national debt.
14
The condition of indirect taxes in the country's revenue is approximately
Discuss
Answer & Solution
Answer: Option D
Solution:
The condition of indirect taxes in the country's revenue is approximately 86 percent.
15
Deficit financing means that the government borrows money from the
Discuss
Answer & Solution
Answer: Option A
Solution:
Deficit financing means that the government borrows money from the RBI.
16
Revenue of the state governments are raised from the following sources, except
Discuss
Answer & Solution
Answer: Option C
Solution:
Revenue of the state governments are raised from the following sources, except agricultural income tax.
17
Since the inception of the co-operative movement, rural credits has been
Discuss
Answer & Solution
Answer: Option D
Solution:
Since the inception of the co-operative movement, rural credits has been institutionalized, rationalized and cheapened.
18
If an economy is equilibrium at the point where plans to save and to invest are equal, then government expenditure must be
Discuss
Answer & Solution
Answer: Option B
Solution:
If an economy is equilibrium at the point where plans to save and to invest are equal, then government expenditure must be equal to government income.
19
The co-operative credit societies have a
Discuss
Answer & Solution
Answer: Option B
Solution:
A credit union is a member-owned financial cooperative, democratically controlled by its members. The Co-operative Credit Institutions in India can be classified as under a three-tier structure- Primary Credit Societies at the bottom; Central Co-operative Bank at the middle; and State Co-operative Bank at the top.
20
Regional rural banks

  1. I=have limited area of operation
  2. II=have free access to liberal refinance facilities from NABARD
  3. III=are required to lend only to weaker sections
Discuss
Answer & Solution
Answer: Option D
Solution:
Regional rural banks have limited area of operation and have free access to liberal refinance facilities from NABARD.