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QUIZ ON INDIAN ECONOMICS (OBJECTIVE QUESTIONS)


Questions related to Indian Economics are always asked in every competitive examinations conducted by SSC CGL, UPSC, PSC, LIC, GIC, Railways, IBPS, etc. The main objective of these questions is to test the candidate's knowledge in the subject Economics, specially Indian Economics. For this purpose we have provided more than 100 objective questions on Indian Economy with answers for the candidates to enhance their knowledge in this area. All these questions had already been asked in various competitive examinations such as SSC CGL, SSC CHSL, SSC TAX ASSISTANT, UPSC, BANK CLERK, BANK PO, CDS, NDA, CPO, PSC, LIC, GIC, RAILWAYS, etc.


Take 10 Questions Online Quiz (objective questions) on Indian Economy below:


1) Which is correct? (1) Food for Work Programme was launched in India during the 10th Five Year Plan, (2) The Planning Commission in India is a constitutional body.
A) 1 only
B) 2 only
C) Both 1 and 2
D) Neither 1 nor 2

2) The existence of a Parallel Economy or Black Money
A) Makes the economy more competitive
B) Makes the monetary policies less effective
C) Ensures a better distribution of income and wealth
D) Ensures increasing productive investment

3) Poverty Line means?
A) The line of demarcation between the rich and poor
B) The stage at which there is a leveling down between the rich and the poor
C) The lowest level in the ladder of economic prosperity
D) The minimum level of per capita consumption expenditure

4) Which area was given the top priority in the Second Five-Year Plan?
A) Agriculture
B) Self-reliance
C) Removing poverty
D) Industry

5) Who is regarded as the founder of the scientific Socialism?
A) Rousseau
B) Karl Marx
C) Engels
D) Lenin

6) Which among the following is the oldest Development Financial Institution of India?
A) UTI
B) IDBI
C) ICICI
D) IFCI

7) Under perfect competition:
A) any firm can influence price in the market
B) any firm can influence supply in the market
C) any firm can influence price and supply in the market
D) no firm can influence price and supply in the market

8) Which Committee's recommendations are being followed for estimating Poverty Line in India?
A) Dutt Committee
B) Chelliah Committee
C) Chakravorty Committee
D) Lakdawala Committee

9) Which of the following best defines the term 'Letter of Credit' as used frequently in bank transactions?
A) An order from a bank to another bank abroad authorising the payment of a particular amount to a person named in the letter
B) An unconditional undertaking given by a bank ensuring the payment of a particular amount to the drawee at a given date
C) Letter by a bank to a person stating the terms and conditions of the loan sanctioned to him by the bank
D) Statement showing outstanding deposits and credits of a bank for a particular period

10) Which of the following is correct regarding the Gross Domestic Savings in India?
A) Contribution of Government sector is the largest
B) Contribution of Household sector is the largest
C) Contribution of Corporate sector is the largest
D) Contribution of Corporate sector is the shortest