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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-9 section-1

Each section contains 100 MCQs on Indian Economy .
81
Rice, Millet (Jawar-Bajra ), Maize and cotton is the group which belongs to:
Discuss
Answer & Solution
Answer: Option B
Solution:
Rice, Millet (Jawar-Bajra ), Maize and cotton is the group which belongs to Kharif crop.
82
The central banking functions in India are performed by the

  1. I=Central Bank of India
  2. II=Reserve Bank of India
  3. III=State Bank of India
  4. IV=Punjab National Bank
Discuss
Answer & Solution
Answer: Option B
Solution:
The central banking functions in India are performed by the Reserve Bank of India.
83
Development expenditure of the Central government does not include
Discuss
Answer & Solution
Answer: Option A
Solution:
Expenditure on economic service, expenditure on social and communist services, grant to states are examples of developmental expenditures. Among the given options, defense expenditure is not an example of developmental expenditure.
84
ICICI is the name of a
Discuss
Answer & Solution
Answer: Option D
Solution:
ICICI Bank was established by the Industrial Credit and Investment Corporation of India (ICICI), an Indian financial institution, as a wholly owned subsidiary in 1994 in Vadodara.
85
Gilt-edged market means
Discuss
Answer & Solution
Answer: Option B
Solution:
The gilt-edged market is the market in government securities or the securities guaranteed (as to both principal and interest) by the government. The term gilt-edged means 'of the best quality”. It has come to be reserved for government securities as they do not suffer from the risk of default.
86
In the last one decade, which one among the following sectors has attracted the highest foreign direct investment inflows into India?
Discuss
Answer & Solution
Answer: Option D
Solution:
In the last one decade, telecommunication has attracted the highest foreign direct investment inflows into India?
87
Devaluation of a currency means
Discuss
Answer & Solution
Answer: Option B
Solution:
When the country follows a fixed exchange rate regime the government constantly has to revalue and devalue the currency in order to maintain the pegged exchange rate. When there is upwards market pressure on the currency to appreciate, the central bank will artificially devalue the currency by buying up foreign reserves.
88
In the second nationalization of commercial banks, ___ banks were nationalized.
Discuss
Answer & Solution
Answer: Option C
Solution:
In the second nationalization of commercial banks, 6 banks were nationalized.
89
Since independence, both development and non-development expenditures have increased; the increase in the former being a little more than in the other. Non-development expenditure involves

  1. I=interest payments
  2. II=subsidies
  3. III=defence
  4. IV=irrigation
Discuss
Answer & Solution
Answer: Option C
Solution:
Since independence, both development and non-development expenditures have increased; the increase in the former being a little more than in the other. Non-development expenditure involves interest payments, subsidies and defence.
90
Depreciation means
Discuss
Answer & Solution
Answer: Option C
Solution:
Depreciation means a reduction in the value of an asset over time, due in particular to wear and tear.