Latest Indian Economy General Knowledge(GK) Questions and answers

1 .

Mahalanobis Model has been associated with which Five Year Plan

A)

First Five Year Plan

B)

Second Five Year Plan

C)

Third Five Year Plan

D)

Fourth Five Year Plan

Correct Answer : Second Five Year Plan

2 .

Which sector of Indian Economy contributes largest to the Gross National Product

A)

Primary sector

B)

Secondary sector

C)

Secondary sector

D)

Public Sector

Correct Answer : Secondary sector

3 .

Where was electricity supply first introduced in India

A)

Kolkata

B)

Mumbai

C)

Darjeeling

D)

Chennai

Correct Answer : Darjeeling

4 .

The main source of National Income in India is

A)

Service Sector

B)

Agriculture

C)

Industrial Sector

D)

Trade Sector

Correct Answer : Service Sector

5 .

The term stagflation refers to a situation where ?

A)

Growth has no relation with the change in prices

B)

Rate of growth is faster than the rate of price increase

C)

Rate of growth is slower than the rate of price increase

D)

Rate of growth and prices both are decreasing

Correct Answer : Rate of growth is slower than the rate of price increase

Stagflation is a blend of stagnation (in economic growth) and inflation (rise in prices).

6 .

MODVAT is related to

A)

Sales Tax

B)

Income Tax

C)

Wealth Tax

D)

Excise Tax

Correct Answer : Excise Tax

7 .

The Board of Industrial and Financial Reconstruction (BIFR) came into existence in

A)

1984

B)

1986

C)

1987

D)

1989

Correct Answer : 1987

8 .

The co-operative credit societies have a

A)

two-tier structure

B)

three-tier structure

C)

four-tier structure

D)

five-tier structure

Correct Answer : three-tier structure

9 .

If an economy is equilibrium at the point where plans to save and to invest are equal, then government expenditure must be

A)

zero

B)

equal to government income

C)

larger than government income

D)

negative

Correct Answer : equal to government income

10 .

Since the inception of the co-operative movement, rural credits has been

A)

institutionalized

B)

rationalized

C)

cheapened

D)

All of the above

Correct Answer : All of the above