Which of the following sectors is the largest contributor to Indias GDP?
Correct!
Wrong :(
Answer - C) Services
2
What is the currency of India?
Correct!
Wrong :(
Answer - A) Rupee
3
Who is the current Governor of the Reserve Bank of India (RBI)?
Correct!
Wrong :(
Answer - C) Shaktikanta Das
4
Which of the following is considered Indias first Five-Year Plan?
Correct!
Wrong :(
Answer - C) First Five-Year Plan
5
What is the primary objective of the Make in India initiative?
Correct!
Wrong :(
Answer - B) Encouraging domestic manufacturing
6
Which organisation is responsible for the collection and publication of economic data in India?
Correct!
Wrong :(
Answer - D) Central Statistical Office
7
Who is known as the Father of the Indian Economy?
Correct!
Wrong :(
Answer - D) Dr. Manmohan Singh
8
Which of the following is the largest source of revenue for the Indian government?
Correct!
Wrong :(
Answer - B) Goods and Services Tax (GST)
9
What is the main function of the Securities and Exchange Board of India (SEBI)?
Correct!
Wrong :(
Answer - B) Regulating the stock market and protecting investors
10
Which year marked the implementation of the Goods and Services Tax (GST) in India?
Correct!
Wrong :(
Answer - C) 2017
11
Who formulates the fiscal policy in India?
Correct!
Wrong :(
Answer - B) Ministry of Finance
12
Which government agency is responsible for the regulation and development of the insurance sector in India?
Correct!
Wrong :(
Answer - B) IRDAI
13
Which Indian state is known as the Rice Bowl of India?
Correct!
Wrong :(
Answer - B) West Bengal
14
Which of the following is NOT a direct tax in India?
Correct!
Wrong :(
Answer - C) Excise Duty
15
The National Rural Employment Guarantee Act (NREGA) was renamed as Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) in honour of Mahatma Gandhi. In which year was it enacted?
Correct!
Wrong :(
Answer - B) 2005
16
Which Indian city is known as the financial capital of India?
Correct!
Wrong :(
Answer - B) Mumbai
17
What is the largest tax revenue source for the Indian government?
Correct!
Wrong :(
Answer - C) Goods and Services Tax (GST)
18
Which organisation is responsible for regulating and developing Indias capital markets?
Correct!
Wrong :(
Answer - B) SEBI
19
What does FDI stand for in the context of the Indian economy?
Correct!
Wrong :(
Answer - A) Foreign Direct Investment
20
The concept of LPG in the context of economic reforms in India stands for:
Correct!
Wrong :(
Answer - B) Liberalisation, Privatization, and Globalization
21
Which index is used to measure inflation in India?
Correct!
Wrong :(
Answer - B) CPI (Consumer Price Index)
22
Who is responsible for issuing currency notes and coins in India?
Correct!
Wrong :(
Answer - B) Reserve Bank of India (RBI)
23
Which of the following is NOT a component of Indias current account balance?
Correct!
Wrong :(
Answer - D) Government fiscal deficit
24
Which industry is often referred to as the Sunrise Sector in the Indian economy?
Correct!
Wrong :(
Answer - A) Information Technology (IT)
25
Which government agency is responsible for the regulation of competition in the Indian market?
Correct!
Wrong :(
Answer - C) CCI (Competition Commission of India)
26
Who was the first woman finance minister of India?
Correct!
Wrong :(
Answer - B) Nirmala Sitharaman
27
What is the primary objective of the Pradhan Mantri Jan Dhan Yojana?
Correct!
Wrong :(
Answer - B) Financial inclusion of all households
28
Which organisation is responsible for the development of small-scale industries in India?
Correct!
Wrong :(
Answer - A) SIDBI (Small Industries Development Bank of India)
29
What does FDI stand for in the context of the Indian economy?
Correct!
Wrong :(
Answer - A) Foreign Direct Investment
30
Which of the following is a measure of income inequality in India?
Correct!
Wrong :(
Answer - B) Gini coefficient
31
Which Indian state is the largest producer of sugarcane?
Correct!
Wrong :(
Answer - A) Uttar Pradesh
32
Which government agency is responsible for regulating and supervising banks in India?
Correct!
Wrong :(
Answer - C) RBI
33
What is the main objective of the Pradhan Mantri Mudra Yojana (PMMY)?
Correct!
Wrong :(
Answer - C) Funding micro-enterprises and small businesses
34
Which of the following is NOT a factor that affects Indias climate?
Correct!
Wrong :(
Answer - D) The Great Wall of China
35
Who is responsible for formulating and implementing monetary policy in India?
Correct!
Wrong :(
Answer - D) Reserve Bank of India (RBI)
36
What is the main function of NITI Aayog (National Institution for Transforming India)?
Correct!
Wrong :(
Answer - C) Formulating and evaluating policies for economic and social development
37
Which sector of the Indian economy employs the largest percentage of the population?
Correct!
Wrong :(
Answer - C) Agriculture
38
What is the term for the difference between a countrys exports and imports?
Correct!
Wrong :(
Answer - A) Trade balance
39
Who is responsible for conducting the population census in India?
Correct!
Wrong :(
Answer - C) Ministry of Statistics and Programme Implementation
40
Which economic reform in 1991 opened up Indias economy to globalisation and liberalisation?
Correct!
Wrong :(
Answer - B) Economic Liberalisation and Structural Reforms
41
Which tax is levied on the income of individuals and businesses in India?
Correct!
Wrong :(
Answer - C) Income Tax
42
What is the term for the total market value of all final goods and services produced within a countrys borders in a given period?
Correct!
Wrong :(
Answer - A) Gross Domestic Product (GDP)
43
Which organisation provides financial support and credit facilities to Indias agricultural sector?
Correct!
Wrong :(
Answer - C) NABARD
44
What is the main function of the National Stock Exchange (NSE) in India?
Correct!
Wrong :(
Answer - C) Facilitating trading in securities
45
Who is responsible for the issuance of monetary policy in India?
Correct!
Wrong :(
Answer - B) Reserve Bank of India (RBI)
46
What is the term for a tax levied on goods and services at each stage of production or distribution?
Correct!
Wrong :(
Answer - C) Value Added Tax (VAT)
47
Which organisation provides financial assistance to the agricultural sector in India?
Correct!
Wrong :(
Answer - C) NABARD
48
What is the main function of the Planning Commission in India?
Correct!
Wrong :(
Answer - B) Formulating Five-Year Plans for economic development
49
What is the term for the rate at which the general level of prices for goods and services rises, resulting in a decrease in purchasing power?
Correct!
Wrong :(
Answer - B) Inflation
50
Which of the following is a major export item from India?
Correct!
Wrong :(
Answer - C) Gems and jewellery
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Question. What is/Introduction of Indian Economy
Answer. The economy of India is characterised as a developing market economy. It is the world's fifth-largest economy by nominal GDP and the third-largest by purchasing power parity. According to the IMF, on a per capita income basis, India ranked 139th by GDP and 118th by GDP in 2018.